Mobile Health Applications predicted to Reach 33.4% Compound Annual Growth through 2020

  • Nov 30th, 2016
  • Guy Paterson

33.4% Annual Compound Growth for Mobile Health (mHealth) Solutions Market to 2020 - Projected to Reach $59.15 Billion

Mobile Healthcare (mHealth) solutions market is poised to move from the 2015 estimate of  USD14 Billion to USD $59 Billion worldwide by 2020, a Compound Annual Growth Rate of 33.4%.

The mHealth market covers smartphone connected medical hardware, software applications running in smartphones, and related services.  For 2015 the largest share of the market (63.7%) is connected devices.

The mHealth market growth projection can be attributed to significantly higher use of smart gadgets, increased utilization of connected medical devices (Internet of Things), as well as mHealth applications for the management of chronic diseases, rising cost which create the need for more affordable care, significant rise in focus on patient-centric health delivery, and the increasing robust penetration of 3G and 4G networks to provide uninterrupted health services.




Guy Paterson

Guy Paterson is Co-chair of the Saskatoon Chamber of CommerceHealth Opportunites Committee.

Add A Comments