Latest Study on Industrial Growth of Mobile Healthcare Market 2022-2028. A detailed study accumulated to offer Latest insights about acute features of the Mobile Healthcare market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis.
The Major Players Covered in this Report: HealthifyMe Wellness Private Limited, HealServ, Lybrate India Private Limited, Practo Technologies Private Limited, Fitbit India Private Limited, GOQii Technologies Private Limited, OMRON Healthcare India Private Limited, Roche Diabetes Care India Private Limited, Samsung India Electronics Private Limited, Xiaomi Technology India Private Limited
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The increased adoption of digital strategy has disrupted the Indian healthcare industry. The growing demand for online appointment scheduling and remote consultation has fueled the growth of the mobile healthcare market in the country. In terms of revenue, the mobile healthcare market in India was valued at INR 50.95 Bn in 2019, and is estimated to reach INR 369.01 Bn by 2025, expanding at a CAGR of 37.69% during the 2020-2025 period.
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Based on type, the mobile healthcare market is segmented into mobile healthcare devices and services. Mobile healthcare services, which mainly consists of healthcare apps, is estimated to be the leading segment with a share of ~68.38% in 2025. Improved clinical outcome, coupled with quick access to medical attention, is projected to drive the demand for healthcare apps.
The mobile healthcare devices segment comprises wearable and monitoring devices for checking health parameters such as blood pressure, blood glucose, oxygen saturation, and respiration. The increasing demand for monitoring devices to manage chronic disease conditions has propelled to the growth of the segment. However, consumers’ preference is expected to shift from the healthcare devices to the healthcare services segment, owing to high costs of the devices, interoperability issues, and availability of similar functions on mobile applications. The healthcare services segment is estimated to expand at a CAGR of ~38.45% during the 2020-2025 period.
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The rise of digital technologies, coupled with supportive governmental policies, has fueled the growth of the mobile healthcare market in India. As per the Telecom Regulatory Authority of India (TRAI), the total number of Internet subscribers increased from 251.59 Mn in 2014 to 718.74 Mn in 2019.
The emergence of corporate wellness programs is likely to play an essential role in driving market growth. Users’ health data is monitored using wearable devices and healthcare apps, which allow employers to take preventive actions to reduce insurance costs. Various advantages, including patient-centric care, proactive response, improved access, and reduced cost, have bolstered the adoption of mobile healthcare to fulfil the gaps of the traditional healthcare ecosystem.
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