US Mhealth Device Market

The U.S. mhealth device market accounted for $12.11 billion in 2019, and is expected to reach $53.25 billion by 2028, registering a CAGR of 19.6% from 2021 to 2028.

Mobile Computers segment impacted positively, due to COVID - 19.

Mhealth devices are the connected devices such as smartphones, tablets, IoT devices, mobile broadband, and mobile computers. Mhealth is the component of the connected health that uses networks, sensors, standards, consumer behavior, and augmented intelligence to create opportunities to improve the patient journey. In addition, mhealth devices majorly involve the use of mobile and wireless technologies, which are deployed in monitoring and treatment of several acute and chronic disorders. Some of the other applications of mhealth devices include diagnosis & treatment of diseases, real-time tracking, and data collection.

The major factor that contributes toward the US mhealth device market growth includes change in lifestyle of the people. Furthermore, factors such as increase in use of smartphones, government initiatives, and new product launch also boost the growth of the US mhealth device market. In addition, integration of wireless technologies with portable healthcare devices is another major factor that fuels the growth of the market. However, concerns related to ensuring regulatory compliance of the mhealth devices hinder the growth of the market. Conversely, increase in awareness of the people to remain fit and active offers a lucrative opportunity for the US mhealth device market players.

Segmentation

The U.S. mhealth device market share is segmented on the basis of device type and application. On the basis of device type, the market is segmented into smartphone, tablet, IoT devices, mobile broadband, and mobile computers. Further, by smartphone and tablet sub-segments, the market is divided into 5G and LTE. By IoT devices, the

market is segmented into smartwatch and fitness trackers. By mobile broadband, the market is further classified into hotspot and router. On the basis of application, the market is classified into diagnosis & treatment, real time tracking, and data collection.

The key players profiled in the U.S. mhealth device market share include Ascom Holding AG, Kaiser Permanente, Honeywell International Inc., General Electric Company, Zebra Technologies Corp, Vivify Health, Inc., Cybernet Manufacturing, Inc., Medtronic Plc, NETSCOUT Systems, Inc., Boston Scientific Corporation, Masimo, Agamatrix Inc., Athenahealth Inc., Omron Corporation, Koninklijke Philips NV, and HCHB. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their US mhealth device market penetration.

Covid-19 Impact Analysis:

The ongoing spread of COVID-19 has become one of the biggest threats to the economy and is causing widespread concerns and economic hardship for consumers, businesses, and communities across the globe. The “New Normal” that includes social distance and working from home has created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives, and missed opportunities.

The COVID-19 pandemic is impacting the society and overall economy across the global. The impact of this outbreak is growing day-by-day as well as affecting the supply chain. It is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increasing panic among customers. U.S. country have suffered a major loss of business and revenue due to restricted working hours of manufacturing units in the region. Operations of production and manufacturing industries have been heavily impacted by the outbreak of COVID-19; which has led to slowdown in growth of the mhealth devices market analysis in 2020.

According to the US mhealth device market trends, COVID-19 has severely impacted the production facilities have stalled, which, in turn, have led to significant demand in industries. 

Emergence of COVID-19 has forced the security organizations to change the way they operate. It has led to critical medical emergency; therefore, increase in demand for mhealth devices has been witnessed from the healthcare sector as it is an effective tool for healthcare professionals that allows treatment of the patient contactless. 

Top impacting factors

Surge in demand for fitness trackers and the easy connectivity of the mhealth devices between the patient and the physicians, changing lifestyle of the people, increasing use of mobile computers are the major factors that impact growth of the mhealth device market. In addition, development of new products with advanced features and technologies such as 5G technology also fuels growth of the market. However, the key players need to check the compliance of the new devices with a set of pre-described mandatory rules in the country is a major restraint for the market growth. Moreover, increase in the health awareness and the ability to remain fit and physically active is expected to create market opportunities for the US mhealth device market players.

Key Benefits For Stakeholders

• This study includes the analytical depiction of the U.S. mhealth device market forecast along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information regarding the key drivers, restraints, and opportunities in the U.S. mhealth device market analysis.
• The U.S. mhealth device market trends are quantitatively analyzed from 2019 to 2028 to highlight the financial competency of the industry.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

US mhealth Device Market Segmentation

By Device Type

• Smartphone
  • 5G
  • LTE
• Tablets
  • 5G
  • LTE
• IoT Devices
  • Smartwatch
  • Fitness Tracker
• Mobile Broadband
  • Hotspot
    • 5G
    • LTE
  • Router
• Mobile Computers

By Application

• Diagnosis & Treatment
• Real Time Tracking
• Data Collection