This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the global M2M healthcare market based on application:
Global M2M healthcare market revenue share by application 2015 (USD millions)
Remote Health Monitoring
Fitness and Wellness
The top three revenue contributing product segments are discussed below:
M2M healthcare market by remote health monitoring
The global M2M healthcare market by remote health monitoring was valued at around USD 660 million in 2015 and will grow at a CAGR of more than 42% by 2020. The increasing access to specialized medical services by providing preventive care and effective monitoring of chronic conditions will help in the growth of this market segment. These systems are designed to aid healthcare professionals to deliver personalized services to patients through interactive mobile applications for smartphones, tablets, and laptops. These systems also help reduce the cost of providing and accessing healthcare.
“The main benefit of using remote health monitoring reduces readmission costs and avoids the need for unnecessary healthcare expenses. These systems help overcome the expensive treatment costs with the growing availability of the Internet, mobile networks, and innovative healthcare delivery models. The vendors are introducing advanced and innovative M2M sensors to help in the development of remote health monitoring systems. These devices enhance the level of remote patient monitoring services, including cardiac rehabilitation, diabetes monitoring, and traumatic brain injuries,” says Abhishek Sharma, a lead analyst at Technavio for research on the machine to machine (M2M) and connected devices.
M2M healthcare market by remote clinical monitoring
The global M2M healthcare market by clinical monitoring was valued at about USD 530 million in 2015 and will grow at a CAGR of over 45% by 2020. Various advancements in M2M technology help healthcare providers to improve patient care, population health management, and lower medical costs. Some of the technologies available in the market are remotely monitored patient data and predictive analytics solutions. The introduction of mHealth solutions act is aimed to improve patient care and efficiency of the healthcare systems. The collaborations among telecom companies and different healthcare service providers are targeting to enhance the M2M healthcare applications and performance of the ecosystems. These collaborations also help to improve women’s maternal health and provide access to life-saving treatments.
M2M healthcare market by fitness and wellness
The global M2M healthcare market by fitness and wellness was valued at around USD 410 million in 2015 and will grow at a CAGR of about 47% by 2020. The increasing demand for hygienic and nutritious food, gym memberships, and diet programs, and use of mobile health applications to monitor health and fitness will help in the evolution of this market segment. The rise of obesity and obesity-related health disorders like diabetes, joint problems, high cholesterol, high blood pressure, cancer, gall bladder problems, breathing difficulties, and coronary artery diseases are increasing the awareness of a healthy lifestyle. Such changes in the behavior of consumers are increasing the demand for connected wearable health and fitness devices. These devices comprise of fitness bands and sports equipment to track and control their health to reduce the risk of diseases.
The top leading vendors operating in the global M2M healthcare market are:
- Deutsche Telekom
- GE Healthcare
Other prominent vendors in the market include Abbott, Aeris, Agfa-Gevaert, AirStrip Technologies, Alcatel-Lucent, AT&T, athenahealth, Epic Systems Corporation, Evolent Health, Google, Honeywell, Huawei Technologies, IBM, Janus Remote Communications, Johnson & Johnson, KORE Wireless Group, Microsoft, Misfit, Philips, Sierra Wireless, Sprint, STANLEY Healthcare Solutions, Telefónica, Verizon, and Wipro.
Other related reports:
- Global Mobile M2M Module Market 2016-2020
- Global Cellular M2M Connections and Services Market 2016-2020
- Global Telecardiology Market 2016-2020
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