Global Wireless Health Market To Progress At 23.5% CAGR, Anticipated To Reach USD 315.4 Billion By The Year 2025: Grand View Research, Inc.

Posted on 2019-07-09 by researchinsights in Healthcare, Technology // 0 Comments

San Francisco, United States, 2019-Jul-09 — /EPR Network/ —

The global wireless health market size is expected to reach USD 315.4 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 23.5% CAGR during the forecast period. Increase in number of eHealth initiatives worldwide, increase in penetration of smartphones and Internet connectivity, and growth in the trend of self-disease management are some of the factors boosting market growth. Growing trend toward use of wearable devices for monitoring physical parameters, such as sleep, blood pressure, heart rate, and physical activity, is also driving the wireless health market.

Growing geriatric population and subsequent rise in chronic disease burden is also driving the market. According to The Wall Street Journal, there has been an increase in usage of digital medicine, which enables management of chronic conditions such as diabetes, heart diseases, and respiratory diseases. Moreover, these digital medicines are cost-effective alternatives to traditional disease management.

Shifting trend toward value-based care is another factor contributing to the growth of the wireless health market. At present, some of the telehealth services, such as consulting a doctor via video connection, are reimbursed by CMS. Use of digital services such as various platforms for health management has promoted the development of various applications for managing diabetes, heart diseases, and asthma. Use of applications for chronic disease management, fitness tracking, supporting medication adherence, preventing hospital re-admissions, symptom tracking, and managing mental and behavioral health are on the rise.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/wireless-health-market

Further key findings from the report suggest:

Wireless Personal Area Network (WPAN) emerged as the largest technology segment and Wireless Wide Area Network (WWAN) is anticipated to witness the fastest growth over the coming years
Software emerged as the largest component segment owing to rise in number of research initiatives. The services segment, on the other hand, is anticipated to expand at the fastest CAGR of 24.7%
Patient-specific applications emerged as the largest segment owing to increase in adoption and rise in research initiatives for developing them to manage individual health
The patient segment accounted for the largest revenue share in terms of end use owing to increase in use of health and fitness applications by people around the world
The market is highly fragmented with participants such as IBM; Allscripts; Cerner Corporation; Omron Corporation; Koninklijke Philips N.V.; Epic Systems Corporation; and Evolent Health, Inc.

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Grand View Research has segmented the global wireless health market report on the basis of technology, component type, application, end use, and region:

Wireless Health Technology Outlook (Revenue, USD Billion, 2014 – 2025)

WLAN/Wi-Fi
WPAN
WiMAX
WWAN

Wireless Health Component Type Outlook (Revenue, USD Billion, 2014 – 2025)

Software
Hardware
Services

Wireless Health Application Outlook (Revenue, USD Billion, 2014 – 2025)

Patient-specific
- Physiological monitoring
- Patient communication and support
Provider specific

Wireless Health End-use Outlook (Revenue, USD Billion, 2014 – 2025)

Providers
Payers
Patients/Individuals

Wireless Health Regional Outlook (Revenue, USD Million, 2014 – 2025)

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
Asia Pacific
- China
- Japan
Latin America
- Brazil
- Mexico
Middle East & Africa
- South Africa

For Press Release of This Report by Grand View Research:

https://www.grandviewresearch.com/press-release/global-wireless-health-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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