The key strategies adopted by a majority wireless health market players in global market include agreements/collaborations/partnerships, product deployments, product launches (including product enhancements), acquisitions/mergers, expansions, and other strategies (divestments, funding, certifications, accreditations, and product integration).
Wireless health market is likely to witness the highest growth in Asia-Pacific region. The global wireless health market is segmented on the basis of technologies, components, applications, and end users. Global 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.
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Market is expected to be dominated by North America, followed by Europe, Asia-Pacific, & Rest of the World (RoW). Asia-Pacific region is expected to grow at highest CAGR during forecast period. Increasing adoption of healthcare IT solutions to reduce healthcare costs along with growing need for upgrading existing software solutions are major driving factors for growth of this market. The wireless health market, by technology is segmented into software, hardware, and services.
Some of the key players in the wireless health market worldwide
- 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.)
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Growth in the Asia-Pacific region can be attributed to factors such as increasing internet penetration, rising medical tourism, increasing government initiatives for eHealth, and growing demand for quality healthcare. Europe is also expected to grow at a robust rate due to enhanced eHealth initiatives by government and growing need for efficient and quality healthcare.
Players in this market have implemented various growth strategies to expand their footprints and strengthen their positions. The software segment accounts for a major share of global wireless health market in 2015 and is expected to grow rapidly during forecast period.
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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).