Latin America Mobile Health Industry is predicted to reach USD 9.06 billion with a CAGR of 36.45% by the end of 2021.
According to the report Latin America Mobile Health Industry, published by Market Data Forecast, The Latin America Mobile Health Industry was worth USD 1.92 Billion in 2016 and is expected to reach USD 9.06 Billion by 2021 at a CAGR of 36.45%.
Mobile Health is the use of smartphones and other communication technologies in healthcare. The main function of mobile health is to use mobiles and other communication technologies to educate user about healthcare services.
The Latin America mobile health Industry is expected to witness significant growth during the forecast period.
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Mobile health developed greatly because of development of smartphones and wireless technologies. Mobile health features use of technologies like Data collection software, telecare devices, microcomputers, smartphones and its apps Patient Monitoring devices, and wireless enabled laptops for monitoring health.
Health care providers use Mobile health technology for checking a person’s vital signs or level of injury, chatting with specialists for guidelines, accessing clinical information, collaborating with care teams, Real time monitoring of patient, providing health care remotely called telemedicine. Patients use Mobile Health to track their personal health records through apps and communicate with their care providers.
The main factors that are driving this Industry are to reduce the amount spent on healthcare, prevalent use of Mobile Smartphones, , prospect of personal healthcare management, increase of aging population, Technological advances like 3G and 4G, rising incidence of persistent diseases, need for cost efficient healthcare delivery and increased awareness among people about personal healthcare management. Here, Industry is still at a developing stage so, Industry can increase tremendously here.
However, the risk of data theft, stringent regulations by FDA and EU, lack of proper guidance from physicians in selecting apps and resistance from traditional healthcare providers in developing countries are some of the key factors that restrain the overall Industry growth during forecast period.
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Mobile Health Industry is segmented into connected devices Industry (Glucose Meter, Pulse Oximeter, Blood Pressure Monitor) and applications Industry (Women's Health, Weight Loss, Chronic care management, health and fitness, Medication, and Personal Health Record). Based on services, Industry can be further segmented into fitness and wellness, Remote Monitoring Consultation, Prevention.
Remote monitoring Industry has highest revenue but fitness and wellness segment is expected to grow tremendously with the greatest CAGR during forecast period. This region has high CAGR, because of developing Industrys like Brazil.
Major players in this Industry are I health lab.inc, Philips healthcare, Cardionet.inc, QUALCOMM life, Samsung electronics co ltd, Medtronic.inc, Vodafone.
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Key Points from Table of Contents
- Executive Summary
- Key Inferences
- New Developments
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Latin America Mobile Health Industry: Segmentation
- Connected Devices
- o Blood Pressure Monitor
- o Glucose Meter
- o Pulse Oximeter
- o Remote Monitoring
- o Consultation
- o Prevention
- o Weight Loss
- o Women's Health
- o Personal Health Record
- o Medication
- o Other Applications
- Rest of Latin America
- PESTLE analysis
- Porter’s Five analysis
Industry Leaders' Analysis
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