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Continued Growth in the Mobile Health Technology Market

Updated: Mar 23, 2019

All health care stakeholders -- from patients to healthcare providers -- recognize the potential of mobile health technology to transform health care delivery. The recognition of mobile technology's power to improve clinical and financial outcomes is driving innovation in health applications.

Nine new reports, studies and surveys capture that effort, the progress being made, the challenges to be overcome and the benefits to be achieved in mobile health technology.

Smart phones, tablets and applications providing a wealth of information for physicians and other clinicians and online communications along every step of patient process

The importance of technology generally and mobile health technology specifically to the health care delivery system of the future was captured in a new survey of 178 C-suite health care executives by the IBM Institute for Business Value. Any health care provider that wants to create maximum impact and demonstrate that it's the best.”

Siding with that challenging future for providers and payers that don't embrace mobile health technology as a method of engaging patients and improving their care is a report from Adobe Digital Insights.

“Smart phones, tablets and applications providing a wealth of information for physicians and other clinicians” and “online communications along every step of patient process” tied for second, each cited by 69 percent of the surveyed experts. Patients, too, recognize the value of mobile health technology and have indicated their willingness to make it a regular feature of their health care experience, according to several tech vendor reports.

Projections Predict Substantial Growth in Mobile Health Technology Market

The global wearable medical device market will reach $10 billion by 2023, according to a report from Transparency Market Research. That's a nearly four-fold jump from $2.7 billion in 2014, the firm said. The report attributed the growth to two factors. First, an aging population will create a larger pool of consumers who want to monitor their health status. Second, rising chronic disease rates will create a larger pool of people who want wearable devices to help them manage their illnesses. The report said the devices that will experience the fastest growth will be different types of heart monitors.

In summary, the nine reports, studies and surveys collectively document the commitment and effort by an entire industry to transform and improve the health care experience for all stakeholders through the use of mobile health technology. They recognize the clinical and financial benefits of meeting and exceeding patients' expectations to use mobile devices to manage their interactions with the health care industry. It's clearly no longer a question of if but of when.

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