Growth in the overall market can largely be attributed to factors such as increasing advancements in wireless communication technologies, growing internet penetration, increasing utilization of connected devices in the management of chronic diseases, rising adoption of a patient-centric approach by healthcare providers, robust penetration of 3G and 4G networks in healthcare services, and mainstreaming of cloud computing.
What the Market Looks Like?
The global wireless health market is projected to reach USD 110.12 Billion by 2020 from USD 39.03 Billion in 2015, at a CAGR of 23.1% during the forecast period of 2015 to 2020.
The market is expected to witness the highest growth in the Asia-Pacific region in the coming years. Growth in the Asia-Pacific region can be attributed to factors such as increasing population, growing internet penetration, rising medical tourism, increasing government initiatives for eHealth, and growing demand for quality healthcare.
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What are Key Trends in the Market?
The growth of the Wireless Health Market is primarily influenced by the following factors:
- Advancements in Wireless Communication Technology
- Increasing Internet Penetration
- Emergence of Wearable Devices
- Increasing Utilization of Connected Devices in the Management of Chronic Diseases
- Favorable HCIT Environment to Promote Wireless Health
- Adoption of Patient-Centric Approach By Healthcare Providers
- Robust Penetration of 3G and 4G Networks to Provide Uninterrupted Healthcare Services
- Mainstreaming of Cloud Computing
Wireless health is expected to transform the existing traditional and paper-based healthcare systems, ensuring quality care along with patient safety. Wireless health solutions can help reduce healthcare costs, streamline workflows in healthcare systems, and facilitate compliance with regulatory guidelines.
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