Key Points From The Wireless Health Market Analysis By MarketsandMarkets™
The report "Wireless Health Market by Technology (WPAN, WLAN/Wifi, WiMAX), by Component (Hardware, Software, & Services), by Application (Patient Specific and Provider/Payer Specific), & by End Users (Providers, & Payers) - Analysis & Global Forecast
The Wireless Health 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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The global wireless health market is segmented on the basis of technologies, components, applications, end users, and regions.
On the basis of components, the wireless health market is segmented into hardware, software, and services. The software segment is expected to grow rapidly during the forecast period. The increasing need of advancements in healthcare software and rising adoption of healthcare IT solutions are the major driving factors for growth of this market.
On the basis of technology, the wireless health market is further segmented into WPAN, WLAN/WiFi, WiMAX and WWAN. The WPAN technology market segment accounts for the largest share of the global wireless health market. WPAN links wireless health devices with computers, increasing accessibility to care. The WPAN technology segment is further segmented into Bluetooth, RFID, Ant+, Zigbee, Z-wave, and UWB. The Bluetooth segment accounts for the largest share of the WPAN market in 2015. Low costs and highly secure facilities are factors that have increased the share of WPAN technologies in the wireless health market.
On the basis of applications, the wireless health market is segmented into patient-specific applications and provider/payer-specific applications. Patient-specific applications account for a major share of the global wireless health market. Changing lifestyle demographics and the growing demand for quality healthcare have increased the adoption of patient-specific applications. Patient-specific applications are further segmented into physiological monitoring and patient communication applications.
On the basis of end users, the wireless health market is segmented into providers, payers, and patients/individuals. Providers include hospitals, ambulatory care centers, and physicians, among others. The providers segment accounts for a major share of the global market. Providers are increasingly adopting wireless health solutions in order to provide quality care services.
On the basis of region, the global wireless market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific. The large share of the North American wireless health market can primarily be attributed to the federal mandates in the U.S. and rising digital health measures in Canada. The Asia-Pacific region is estimated to grow rapidly during the forecast period due to rising internet penetration, growing medical tourism, and increasing government initiatives for eHealth.
Federal mandates such as Meaningful Use Stage II and growing adoption of wireless health devices among the elderly and patients suffering from chronic illnesses are some of the factors driving the growth of the wireless health market.
Key Market Players
Allscripts Healthcare Solutions, Inc. (U.S.), AT &T, Inc. (U.S.), Cerner Corporation (U.S.), Omron Corporation (U.S.), Philips Healthcare (U.S.), Verizon Communications, Inc. (U.S.), Qualcomm, Inc. (U.S.), Aerohive Networks, Inc.(U.S.), Vocera Communications, Inc. (U.S.), and Alcatel-Lucent (U.S.) are some of the key players in the wireless health market worldwide.
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Target Audience for the Report
· Healthcare institutions/providers (hospitals, medical groups, physicians’ practices, diagnostic centers, pharmacies, ambulatory centers, and outpatient clinics)
· Healthcare insurance companies/payers
· Healthcare IT service providers
· Venture capitalists
· Government bodies
· Corporate entities
· Accountable Care Organizations (ACOs)
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