Business

Report: Mobile Health Growth Rate Expected To Reach 61% by 2017

1287062_businessman_in_the_office_2The mobile health technology industry is expected to reach a compound annual growth rate of 61% by 2017, according to a report by Research and Markets, Healthcare IT News reports.

Details of Growth

According to the report, revenue in the industry will mainly come from mobile health hardware sales and services.

In addition, the report predicts that an estimated 50% of mobile device users will download a mobile health application within the next five years.

The report outlines three phases of mobile health technology development:

  • Initial trial;
  • Commercialization; and
  • Integration.

According to the report, the commercialization phase currently is underway and includes:

  • Mass development of mobile health tools;
  • New business models; and
  • A focus on private companies, consumers and patients.

The report states, “In this phase, [mobile health] applications will become an integrated part of doctors’ treatment plans.”

However, observers say that mobile health integration could be delayed if FDA mobile health regulations are postponed (McCann, Healthcare IT News, 7/24).

Source: http://www.ihealthbeat.org/articles/2013/7/25/report-mobile-health-growth-rate-expected-to-reach-61-by-2017?goback=.gmp_60789.gde_60789_member_261571918&view=print

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