Rising chronic disease burden Boosts Wireless Health Market


The global wireless health market size is expected to reach USD 315.4 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 23.5% CAGR during the forecast period. Increase in number of eHealth initiatives worldwide, increase in penetration of smartphones and Internet connectivity, and growth in the trend of self-disease management are some of the factors boosting market growth. Growing trend toward use of wearable devices for monitoring physical parameters, such as sleep, blood pressure, heart rate, and physical activity, is also driving the wireless health market.

Growing geriatric population and subsequent rise in chronic disease burden is also driving the market. According to The Wall Street Journal, there has been an increase in usage of digital medicine, which enables management of chronic conditions such as diabetes, heart diseases, and respiratory diseases. Moreover, these digital medicines are cost-effective alternatives to traditional disease management.


Shifting trend toward value-based care is another factor contributing to the growth of the wireless health market. At present, some of the telehealth services, such as consulting a doctor via video connection, are reimbursed by CMS. Use of digital services such as various platforms for health management has promoted the development of various applications for managing diabetes, heart diseases, and asthma. Use of applications for chronic disease management, fitness tracking, supporting medication adherence, preventing hospital readmissions, symptom tracking, and managing mental and behavioral health are on the rise.

Browse full research report on Wireless Health Market: www.grandviewresearch.com/industry-analysis/wireless-health-market      
                 
Further key findings from the study suggest:      
               
  • Wireless Personal Area Network (WPAN) emerged as the largest technology segment and Wireless Wide Area Network (WWAN) is anticipated to witness the fastest growth over the coming years
  • Software emerged as the largest component segment owing to rise in number of research initiatives. The services segment, on the other hand, is anticipated to expand at the fastest CAGR of 24.7%
  • Patient-specific applications emerged as the largest segment owing to increase in adoption and rise in research initiatives for developing them to manage individual health
  • The patient segment accounted for the largest revenue share in terms of end use owing to increase in use of health and fitness applications by people around the world
  • Themarket is highly fragmented with participants such as IBM; Allscripts; Cerner Corporation; Omron Corporation; Koninklijke Philips N.V.; Epic Systems Corporation; and Evolent Health, Inc.

Browse more reports of this category by Grand View Research: www.grandviewresearch.com/industry/healthcare                                                                                                                                                                                
Grand View Research has segmented the global wireless health market report on the basis of technology, component type, application, end use, and region:

Wireless Health Technology Outlook (Revenue, USD Billion, 2014 - 2025)
  • WLAN/Wi-Fi
  • WPAN
  • WiMAX
  • WWAN
Wireless Health Component Type Outlook (Revenue, USD Billion, 2014 - 2025)
  • Software
  • Hardware
  • Services
Wireless Health Application Outlook (Revenue, USD Billion, 2014 - 2025)
  • Patient-specific
    • Physiological monitoring
    • Patient communication and support
  • Provider specific
Wireless Health End-use Outlook (Revenue, USD Billion, 2014 - 2025)
  • Providers
  • Payers
  • Patients/Individuals
Wireless Health Regional Outlook (Revenue, USD Million, 2014 - 2025)
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
  • Asia Pacific
    • China
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • SouthAfrica

Access Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-wireless-health-market                                                                                                                                                
About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

Comments

Post a Comment

Popular posts from this blog

Epigenetics Market to Observe Strong Development by 2022

The global  epigenetics market  is expected to reach USD 16.31 billion by 2022, according to a new report by Grand View Research, Inc. Growing worldwide prevalence of cancer and other diseases with epigenetic modification base is expected to drive market growth during the forecast period.  Diagnostic companies are coming up with new products such as antibodies specific for the detection of modifications and new upgraded kits for easy and efficient detection of biomarkers. This is expected to attract pharmaceutical companies to collaborate for the development of therapeutic drugs.  Presence of pipeline drugs and their expected commercialization is anticipated to boost penetration rates over the forecast period. For instance, Ramucirumab (Cyramza) by Eli Lilly and Company was approved by the FDA for use in combination with Folfiri for the treatment of patients with metastatic colorectal cancer.  Technology advancements in the field of epigenetics especially pertaining to t
Read more

Increasing Incidences Of M&A Of CDMO/CRO With Big Pharma Companies To Drive Life Sciences BPO Market Growth Till 2024: Grand View Research, Inc.

Image
The  life sciences BPO market  is expected to reach USD 420 billion by 2024, according to a new report by Grand View Research, Inc. The lucrative growth is attributed to the growing demand for contract manufacturing of raw materials, Finished Dosage Forms (FDFs), medical devices, drug discovery services, regulatory services, pre-clinical and clinical trial services, and pharmacovigilance services.  The pharmaceutical and biotech industry invests heavily in the R&D sector to continuously introduce new molecules, devices, and treatments. The different stages of the drug development such as drug discovery, pre-clinical studies, and clinical trials require huge financial, technological, and human resources.  North America life sciences BPO market, by services, 2013 - 2024 (USD Billion) In order to cater to the growing needs of the industry, the outsourcing vendors are expanding their product and service offerings and they are targeting niche areas for long-term growth
Read more

U.S. Telehealth Market Is To Be $2.83 Billion By 2022: Grand View Research, Inc.

Image
U.S. telehealth market  is expected to reach USD 2.8 billion by 2022, according to a new report by Grand View Research Inc. Increasing access to basic healthcare is the major aim of telehealth along with improved healthcare quality and patient safety by early detection and diagnosis. According to a report published by the Agency for Health Care Research and Quality (AHRQ), implementation of telehealth solution improves quality of care delivery to patients.  The rising demand for self care and independent living along with the concept of home care is highly appealing to the population. The Rhode Island Partnership for Home Care reported that in 2014, over 20,000 citizens demanded for home care that led to approximately 1,000,000 visits by healthcare providers. Advantages that drive the higher adoption for home care include better psychological impact on patients, provision of friendly environment, care provision as per patient needs, and cost-effectiveness.  U.S. telehealth
Read more