Global Wireless Health Market - Segmented by Component, Technology, Application, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global Wireless Health Market is expected to witness a CAGR of 23% over the forecast period of 2018-2023. Wireless health is the application of wireless technology in the healthcare sector for diagnosis, monitoring, and treatment of the diseases and tools that can help an individual to improve his personal health. It is the provision of healthcare with the inclusion of telecommunication techniques.
The Emergence of Wearable Devices
Wearable devices have made a major impact on healthcare segment. It is one of the biggest advancements in the healthcare industry. The wearable technology has changed the way people handle their own health. The emergence of wearable devices like smart watches, which can monitor the sleeping pattern, blood sugar level, heart rate etc. have brought revolution in the personal health management. These type of wearable devices and their presence in the global market is driving the overall wireless health market. Due to the easy access and accuracy of the output, people are attracted towards such technologies. In addition, the low cost associated with such devices is also a factor responsible for its emergence in the developing regions. This ultimately is helping the wireless health market to grow in the developing regions of the globe. The government support for the use of wearable devices is fueling the demand of these tools and wireless health market is positively affected owing to this rising demand of wearable devices.
Along with that, other factors such as increasing advancements in the wireless healthcare tools and rising eHealth initiatives are driving the growth of Wireless Health Market.
Scarcity of Internet in Developing and Underdeveloped Countries
The wireless health market is completely relied on the availability of internet in the particular region. The developed nations like the United States have better internet services resulting in better access of the wireless services. However, developing nations like African countries are still facing challenges in the internet access. This scarcity of internet is resulting into the poor eHealth services and lack of awareness about the new technologies related to healthcare.
According to the World Economic Forum, around 4 billion people mostly from the developing countries still does not have internet access. This indicates that nearly half of the world population is missing the evolution of technology. This lack of internet in the developing or underdeveloped regions is responsible to hinder the growth of the wireless health market in the forecast period. Lack of awareness about the wireless health in emerging countries is another factor hampering the growth of this market.
North America Holds the Largest Share in the Wireless Health Market
North America accounts for the largest share of the market studied. This can be primarily attributed to more number of internet users in the country and adoption of innovative technological advancements, this is further expected to augment the growth of the market studied over the forecast period.
Key Developments in the Market
Jan 2018: GE Healthcare has entered into a strategic, long-term partnership with Roche to jointly develop and co-market digital clinical decision support solutions.
Major Players - ALLSCRIPTS, AT&T, CERNER CORPORATION, CONIFER HEALTH SOLUTIONS LLC, GE HEALTHCARE, KONINKLIJKE PHILIPS N. V., MCKESSON CORPORATION, OMRON CORPORATION, QUALCOMM TECHNOLOGIES, INC., AND SIEMENS A.G, among others.
Reasons to Purchase the Report
Current and future global Wireless Health Market outlook in the developed and emerging markets
Analysis of various perspectives of the market with the help of Porter's five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
List Not Exhaustive