(PharmaNewsWire.Com, November 19, 2021 ) Growth in the overall market can largely be attributed to factors such as increasing advancements in wireless communication technologies, growing internet penetration, increasing utilization of connected devices in the management of chronic diseases, rising adoption of a patient-centric approach by healthcare providers, robust penetration of 3G and 4G networks in healthcare services, and mainstreaming of cloud computing.
According to a new market research report “Wireless Health Market (WLAN, WMAN, WPAN, Sensors, Smartphone‘s, Tablet PC, Mobile APPS) – Global Trends, Opportunities, Competitive Landscape & Forecasts (2013 – 2018) “, analyzes and studies the major market drivers, restraints, and opportunities globally. The global wireless health market is projected to reach USD 110.12 Billion by 2020 from USD 39.03 Billion in 2015, at a CAGR of 23.1% during the forecast period of 2015 to 2020.
This report studies the global Wireless Health Market with respect to wireless networking technologies, sensor networks, handheld devices and mobile apps for the forecast period of 2013 – 2018.
With ever-changing trends in the healthcare system, the Wireless Health Market is gaining significant momentum. The global Wireless Health Market is valued at $23.8 billion in 2013 and is expected to reach $59.7 billion by 2018, at an estimated CAGR of 20.2% from 2013 to 2018.
The report segments the market of wireless health based on technologies, components, applications, end users, and regions. On the basis of technologies, the market is further segmented into WPAN, WLAN/WiFi, WiMAX, and WWAN. The WPAN technology market segment accounts for the largest share of the global market in 2015. 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. The large share of WPAN technologies can be attributed to the fact that these technologies are user friendly, secure, and affordable.
Wireless health is expected to transform the existing traditional and paper-based healthcare systems, ensuring quality care along with patient safety. Wireless health solutions can help reduce healthcare costs, streamline workflows in healthcare systems, and facilitate compliance with regulatory guidelines.
The Wireless Health Market is predominantly governed by the network technologies segment, wherein wireless personal area network (WPAN) accounted for the largest share of 40.3% of the overall wireless networking technologies market in healthcare in 2013. The growth of the wireless technologies market is driven by the need for mobile and better-quality healthcare, and reduced operating costs. Government initiatives to provide better care facilities have played a vital role in the growth of the market. The handheld devices and mobile apps market is witnessing the entry of new entrants and increasing competition between existing players. The mobile apps market offers the biggest opportunities for market players in this segment.
Lack of skilled IT professionals and data security concerns are expected to restrain the growth of the market to a certain extent. In addition, lack of data management and interoperability issues pose as major challenges for the market. On the basis of region, this market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
The overall Wireless Health Market is highly fragmented with the presence of various players such as Qualcomm, Inc. (U.S.), Aerohive Networks, Inc. (U.S.), Vocera Communications, Inc. (U.S.), Siemens Healthcare (Germany), GE Healthcare (U.K.), Verizon Communications, Inc. (U.S.), and Cisco Systems, Inc. (U.S.), among others.
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