The market is expected to witness the highest growth in the Asia-Pacific region in the coming years. Growth in the Asia-Pacific region can be attributed to factors such as increasing population, growing internet penetration, rising medical tourism, increasing government initiatives for eHealth, and growing demand for quality healthcare.
What the Market Looks Like?
The global wireless health market is projected to reach USD 110.12 Billion by 2020 from USD 39.03 Billion in 2015, at a CAGR of 23.1% during the forecast period of 2015 to 2020.
The market is expected to witness the highest growth in the Asia-Pacific region in the coming years. Growth in the Asia-Pacific region can be attributed to factors such as increasing population, growing internet penetration, rising medical tourism, increasing government initiatives for eHealth, and growing demand for quality healthcare.
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What are Key Trends in the Market?
The growth of the Wireless Health Market is primarily influenced by the following factors:
- Advancements in Wireless Communication Technology
- Increasing Internet Penetration
- Emergence of Wearable Devices
- Increasing Utilization of Connected Devices in the Management of Chronic Diseases
- Favorable HCIT Environment to Promote Wireless Health
- Adoption of Patient-Centric Approach By Healthcare Providers
- Robust Penetration of 3G and 4G Networks to Provide Uninterrupted Healthcare Services
- Mainstreaming of Cloud Computing
On the basis of applications, the market of wireless health is further segmented into patient-specific applications and provider/payer-specific applications. Patient-specific applications account for a major share of the global market in 2015 due to increasing adoption of wireless devices and rising need for quality care.
On the basis of end users, the market of wireless health is further segmented into providers, payers, and patients/individuals. The providers segment accounts for the major share of the global market in 2015.
Allscripts Healthcare Solutions, Inc. (U.S.), AT &T, Inc. (U.S.), Cerner Corporation (U.S.), Omron Corporation (U.S.), Philips Healthcare (U.S.), Verizon Communications, Inc. (U.S.), Qualcomm, Inc. (U.S.), Aerohive Networks, Inc.(U.S.), Vocera Communications, Inc. (U.S.), and Alcatel-Lucent (U.S.) are some of the key players in the wireless health market worldwide
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