Healthcare Mobility Solutions Market to Reach US$148.66 bn by 2023, Fuelled by Focus on Patient-centric Applications: Transparency Market Research

Albany, NY, March 10, 2016 -- According to a new market report published by Transparency Market Research “Healthcare Mobility Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” the healthcare mobility solutions market was valued at US$20.13 bn in 2014, and is expected to reach US$148.66 bn by 2023, expanding at a CAGR of 25.50% from 2015 to 2023.

In recent years, mobility has emerged as a crucial technology for the healthcare industry, as it enables the medical community to adopt a patient-centric approach, minimizing healthcare costs and the implications of the shortage of nursing and healthcare professionals. Increasing penetration of smartphones, tablets, and PDAs coupled with the growing focus on patient-centric applications is driving the healthcare mobility solutions market. Furthermore, advancements in network technologies (3G and 4G) and a shortage of nursing staff and healthcare professionals is expected to have a positive impact on the growth of the healthcare mobility solutions market. The security and privacy issues and interoperability challenges associated with the mobility solution have somewhat limited the widespread adoption of healthcare mobility solutions. 

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On the basis of end-use, the global healthcare mobility solutions market is segmented into three major categories: payers, providers, and patients (individuals). In recent years, healthcare service providers have been increasingly adopting and deploying mobility solutions to ensure a patient-centric focus and streamline workflow within the facility. As such, healthcare service providers accounted for the majority of the market’s revenue share (45.4%) in 2014. However, over the forecast period, the patients (individuals) segment is expected to exhibit the fastest growth, expanding at a CAGR of 25.80% during the forecast period from 2015 to 2023. The expected growth can be attributed to increasing health awareness among consumers, availability of smart healthcare devices, and the rise in healthcare spending by consumers. 

In 2014, the enterprise solutions segment accounted for the majority of the market’s revenue share. The increased penetration of mobile devices across the globe is anticipated to lead to the swift growth of mHealth applications in the next few years. The mHealth application segment is anticipated to expand at a CAGR of 25.60% during the period from 2015 to 2023. The mobile devices segment was the largest contributor to the global healthcare mobility solutions market in 2014 and is expected to remain the dominant product segment over the forecast period. However, mobile applications are expected to witness maximum adoption over the forecast period. In recent years, mobile applications are becoming more feature rich and secure. Thus, healthcare service providers are increasingly integrating mobile applications with healthcare operations and processes to streamline workflow and offer better medical care. 

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North America was the largest healthcare mobility solutions market in 2014, followed by Europe and Asia Pacific. Although North America is expected to remain the largest healthcare mobility solutions market by 2023, Asia Pacific is expected to witness healthy growth, outpacing North America and Europe. The growth in Asia Pacific can be majorly attributed to the healthcare infrastructural growth (increase in the number of clinical settings, hospitals, and healthcare centers) and increasing healthcare awareness among the population in the region. The global healthcare mobility solutions market is highly fragmented and is characterized by the presence of large number of players. Some of the leading players in the market are McKesson Corporation (the U.S.), Cerner Corporation (the U.S.), Koninklijke Philips N.V. (the Netherlands), SAP SE (Germany), Oracle Corporation (the U.S.), AT&T, Inc. (the U.S.), and Cisco Systems, Inc. (the U.S.). 

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