$ 265.23 Billion Worldwide Healthcare Mobility Solutions Industry to 2028 - Increasing Use of Mobile Devices, and Growing Use of Medical Wearable Devices Are Driving Growth | Brandessence Market Research

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Oct 19, 2022, 11:10 ET

LONDON, Oct. 19, 2022 /PRNewswire/ -- The Global Healthcare Mobility Solutions Market amassed $ 62.98 billion in 2021 and is speculated to generate $ 265.23 billion by 2028, rising at a CAGR of 22.8% during forecast period.

Healthcare mobility solutions are referred to the set of technologies that enables healthcare organizations to streamline their overall operations. These solutions also help them to effectively manage patient information and workforce while reducing the possibility of human errors. It is evident that healthcare mobility solutions enable concerned medical authorities to stay informed about latest trends and developments in the field which in turn helps them to provide better care to the patients. Apart from that, the integration of these technologies reduce human labor along with the total operational expenditures across medical facilities.

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Healthcare Mobility Solutions Market: Scope

The global healthcare mobility solutions market is expected to reach a valuation of USD 265.23 billion by 2028 from USD 62.98 billion in 2021, registering a CAGR of 22.8% over 2022-2028.

The growing adoption of innovative technologies such as AI, machine learning, and IoT across healthcare units, widespread internet proliferation, and rising R&D investments in the field are primarily augmenting the outlook of this industry vertical.

Furthermore, rise in the number of hospital admissions along with the surging efforts of healthcare organizations to reduce their operational costs are creating lucrative opportunities for the marketplace to prosper.

Besides, increasing healthcare expenditure across the globe, widespread digitalization, and growing penetration of smart devices are adding momentum to the development of this business sphere.

Also, the emergence of wireless networks such as 3G and 4G have enhanced internet connectivity across the globe. This in turn has escalated the demand for healthcare mobility solutions.

On the contrary, rising concerns regarding user data privacy, lack of proper healthcare IT infrastructure across various nations, and dearth of skilled professionals in the field are hindering the remuneration scope of this industry. Alongside, lack of favorable medical reimbursement policies in several regions along with the rapidly increasing installation costs pertaining to these solutions are posing a severe challenge for the market.

Healthcare Mobility Solutions Market: Competitive Analysis 

The prominent players characterizing the competitive terrain of global healthcare mobility solutions market are Apple Inc., AirStrip Technologies, Inc., Cerner Corporation, AT&T Inc., Cisco Systems Inc., Omron Corporation, International Business Machines Corporations, Hewlett-Packard Company, McKesson Corporation, Oracle Corporation, and Other.

These companies have increased their emphasis onto strengthening their global position by engaging in mergers & acquisitions, R&D activities, collaborations, partnerships, and new product launches, among others.

Healthcare Mobility Solutions Market: Segmentation Analysis

By Product Type:

  • Mobile Application
  • Mobile Devices
  • Enterprise Mobile Platform
  • Others

By Application:

  • Enterprise Solutions
  • mHealth Applications
  • Other

By End-User:

  • Providers
  • Payers
  • Hospitals
  • Patients
  • Laboratories
  • Others

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Healthcare Mobility Solutions Market: Key Drivers

The business sphere is being positively influenced by various growth inducing factors which in turn is fueling its remuneration scope since the past few years.

With prompt internet proliferation and emergence of advanced IT solutions, the healthcare sector has been underdoing robust developments. There is a growing integration of innovative technologies such as IoT, AI, and machine learning, among others in the clinical domain. This in turn has increased the popularity and adoption of healthcare mobility solutions across various medical units.

The efficacy of these solutions in reducing the chances of human errors while decreasing the overall operational costs across healthcare facilities is driving the progression of global healthcare mobility solutions market.

Additionally, the growing adoption of mHealth and telehealth solutions is creating lucrative remuneration scope for the industry vertical to prosper.

Also, due to rising geriatric population base, unhealthy lifestyle trends, genetic issues, and other factors there has been a surging pervasiveness of various chronic, infectious, and lifestyle based illnesses. This has further increased the people's dependency on healthcare facilities. Since mobility solutions enable these units to effectively store patient data and provide them with the most advanced treatment, the rise in the burden of diseases is stimulating the overall market outlook.

Alongside, the emergence of the COVID-19 pandemic led to a sudden rise in the number of hospital admissions. Healthcare mobility solutions eased various healthcare IT related activities such as storage of a large volume of patient data, keeping a track of their improvements, and also helped healthcare providers to stay up to date about the latest developments in the field of COVID-19 therapeutics.

Region-wise Insights

What are the major factors behind the dominance of North America in the global healthcare mobility solutions market?

North America is presently leading the industry and is reckoned to generate significant returns over the stipulated timeline. This is attributable to the increasing patient pool, rising healthcare IT expenditure, and growing penetration of smart devices in the region.

What is the position of Asia Pacific in the industry?

Asia Pacific healthcare mobility solutions market is amassing notable gains over the estimated timeline owing to the presence of potential players, surging geriatric population base, widespread technological advancements, and rising adoption of mHealth solutions.

Category-wise Outlook

Which is the fastest growing product type segment in the market?

The mobile application product type segment is leading the overall industry owing to the increasing usage of health monitoring applications in smart devices for the management of long term ailments such as blood pressure, COPD, and diabetes, among others.

Which end user segment presently leads the global healthcare mobility solutions market?

The hospitals segment presently accounts for a substantial volume share due to the rising prevalence of numerous diseases, increase in the geriatric population base, and rapidly evolving healthcare infrastructure across the globe.

On Special Requirement Healthcare Mobility Solutions Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Healthcare Mobility Solutions Market: Major Developments

  • In February 2022, HP inked a partnership deal with NetSfere to jointly develop secure collaboration and messaging solutions for healthcare providers. These services are aimed at enabling medical facilities to establish secure and fast paced communication within their staff members without having to worry about data thefts or other forms of cyberattack.

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