Industry Trend Analysis
The wireless health market is expected to be around $309 billion by 2025. Increase in geriatric population, who require continuous health monitoring, penetration of 3G and 4G networks in healthcare services, and advancements in wireless communications are major factors responsible for growth of global market. Moreover, industry trends such as increase interest towards self-care, rapid increase in the number of smartphones and tablets, and availability of wireless devices will further enhance growth of markets. However, safety issues and confidentiality problem in wireless health care, may impact growth of market.
Product Outlook and Trend Analysis
The WPAN segment accounted for the largest share of the overall market in 2016. This large share can be attributed to various factors such as user friendliness, security, and affordability of WPAN technology based devices. The Bluetooth segment dominated WPAN market in 2016. Patient-specific application accounted for the largest share in 2016, owing to increase demand for quality healthcare and increasing adoption of patient specific products. Providers segment accounted for the major share of the overall market in 2016, as large number of healthcare providers are adopting wireless health solutions to deliver high quality of health care.
Regional Outlook and Trend Analysis
North America dominated the global market in 2016, due to high adoption of technologically advanced devices and software solutions and rise in demand for digital health care services. Asia-Pacific is poised to grow at the highest CAGR during forecast period, owing to increase in geriatric population needing quality health care. Moreover, different government initiatives such as launch of e-health in India to provide effective, affordable and timely healthcare services to all individuals is set to contribute to the market growth.
Some of the key players in wireless health market are Allscripts Healthcare Solutions, Inc., AT &T, Inc., Cerner Corporation, Omron Corporation, Philips Healthcare, Verizon Communications, Inc., Qualcomm, Inc., Aerohive Networks, Inc., Vocera Communications, Inc., and Alcatel-Lucent. The major strategies adopted by them to sustain the market competition are mergers & acquisitions, joint ventures, product launches & expansions.
The market has witnessed large number of technological innovations such as rapid development of smart phones and tablets and increased preference for self-care due to availability of low-cost wireless devices. Technological advancements such as miniature leadless pacemakers, wireless variable sensors, and remote monitoring devices including cardiac cast with a pacemaker that automatically transmits data to remote centers will bring in new avenues for the key players in the market.
Wireless Health Market Segmentation:
RFID, RTLS and IPS
3G and 4G
Patient Communication and Support
By End User:
Rest of Europe
Rest of Asia-Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?