Updated on 30 May 2014
Illustration by Anil Babu
Capturing innovations at the intersection of mobile communications and health
"mHealth market expected to reach $58.8 billion globally by 2020."
*Allied Market Research Projections
Valued at $6.7 billion in 2012, the global mHealth market is estimated to reach $8.3 billion by the end of 2013. The main driver of growth for this section of the digital health industry is the increasing per capita healthcare expenditure both in developed and advanced developing countries. The market, predicted Allied Market Research is further projected to reach $58.8 billion by 2020, at a CAGR of 32.3 percent from 2013 to 2020.
The number of mobile phone subscriptions (6.8 billion) is nearly equal to the human population of 7.1 billion.
*International Telecommunications Union (ITU) in 2013
The ubiquitous access of smart mobile devices globally has enabled diagnostic and monitoring devices to render seamless healthcare services. Thus, this market is expected to grow at a significant pace in the next seven years.