The Journal of mHealth Vol 1 Issue 1 (Feb 2014) - Page 7

mHealth...A Global Market healthcare providers to serve patients effectively and at a lower cost.” [2] North America leads the regional landscape of the global mHealth market followed by Europe and Asia Pacific. However, by 2020, Europe and Asia Pacific are predicted to take away this lead, with each occupying more than 28% of the market. [2] It is also predicted that the next few years will see the commercialisation phase of the mobile healthcare services market, as the industry begins to more effectively monetise the solutions that are already on offer, or in development. Estimates are that this phase will push the market value mHealth services: - Ageing population. Ageing populations and the associated increase in chronic illness across the developed world is fuelling the growing demand for innovative delivery solutions. Healthcare organisations and national health provision is responding to this growth in demand by seeking methods that improve the access to, and efficacy of services provided, as well as increase consumer engagement with treatment and care pathways, and reduce hospital admission rates. - Increases in healthcare costs. As costs of healthcare provision continue to rise, health providers, organ- helping to drive consumer-led health provision and reduce the number of physical interactions required in the doctor-patient relationship. - Wearable technology. Wearable technology also shows signs of significant residual growth. The world market for wearable technology reached $8.5 billion in revenues during 2012, shipping 96 million devices that year. By 2018, unit shipments are forecast to reach 210 million, driving $30 billion in revenue. These figures include a diverse range of product types and applications including healthcare, fitness, infotainment, industrial and military. [4] In this article we take a snapshot of the global mHealth market, considering some of the issues influencing the industry, in a variety of different regions around the world upwards of $26 billion by 2017 [3]. “With the growing sophistication level of mHealth applications, only 9% of the total market revenue in the next five years will come from application download revenue,” suggests Patrick Houck in a statement in the same report by mobile research company Research2Guidance. “84% of total mHealth application market revenue will come from related services and products such as sensors.” Factors generating the need for isations, and governments are all searching for solutions that can keep pace with growing demand, whilst delivering real-term cost savings. mHealth, telehealth, remote monitoring and telemedicine are all methods that have become attractive solutions to these problems. - Advances in technology. Innovation is rapidly changing the dynamics surrounding the delivery of healthcare. Tailored solutions are UNITED KINGDOM A recent report published by PwC [5] highlights the growing interest for mHealth solutions in the United Kingdom. The report references the many projects and initiatives that a ɔ