Global mHealth Monitoring and Diagnostic Medical Devices Market to Exhibit Explosive 43.30% CAGR from 2013 to 2019 Transparency Market Research recently announced the publication of a new market research report, titled “mHealth Monitoring And Diagnostic Medical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019,� which provides a comprehensive market overview, including the market drivers and barriers, product segmentation, current market trends, geographical segmentation, and competitive landscape of the market.According to the research study, in 2012, the global mHealth monitoring and diagnostic medical devices market for was valued at US$0.6 bn and is estimated to reach a value of US$8 bn by the end of 2019, exhibiting an enormous 43.30% CAGR between 2013 and 2019.
mHealth is an abbreviation for mobile health, a term used for the delivery of healthcare services with the use of communication devices, such as mobile phones, tablet computers and PDAs, for health services and information. mHealth monitoring and diagnostic medical devices is an emerging market and demand for this technology is evolving at a rapid speed owing to rising incidences of chronic diseases and increasing geriatric population. The technology substantially reduces healthcare expenditure incurred during hospital visits for monitoring vital parameters such as blood pressure, blood glucose, heart rate, respiratory rate and others. According to The Center for Technology and Aging, the U.S. healthcare system could reduce the cost of healthcare expenditure by approximately USD 200 billion in the next 25 years through the implementation of remote patient monitoring technologies. Hence, this report is focused towards identifying the current scenario as well as the future market potential for mHealth monitoring and diagnostic devices, globally, with a special focus on medical devices like smartphones and tablets. The mHealth monitoring and diagnostic devices market has been segmented into seven major product types, namely, glucose monitors, blood pressure monitors, pulse oximeters, cardiac monitors, sleep apnea monitors, multi-parameter monitoring devices and other monitoring devices (fetal monitors, neurological monitors, asthma monitoring devices). These monitors are used for monitoring and diagnosing health and wellness of a patient via connectivity with the smartphones or tablets that enable data transfer to healthcare professionals via Bluetooth, NFC, Wi-Fi or USB stick. Of all the above mentioned monitoring and diagnostic devices, glucose monitors have been anticipated as the fastest growing segment for the forecast period 2013 to 2019, at a CAGR of 49.4%. According to the International Diabetes Federation (IDF), the number of people suffering globally from diabetes is around 392 million in 2013 and is expected to rise to 592 million by