U.S. mhealth Device Market to Reach $53.25 Billion By 2028: Allied Market Research
PORTLAND , OR, USA, UNITED STATES, November 2, 2022 /EINPresswire.com/ — Changes in lifestyle, rise in use of smartphone, and new product developments drive the growth of the U.S. mhealth device market. The real-time tracking segment is projected to manifest the fastest CAGR of 20.7% from 2021 to 2028. The demand for mhealth devices has been increased significantly during the Covid-19 pandemic to monitor health conditions remotely for ensuring safety and avoiding cross-contamination during visits to clinics or hospitals.
According to the report published by Allied Market Research, the U.S. mhealth device market generated $12.11 billion in 2019, and is estimated to reach $53.25 billion by 2028, witnessing a CAGR of 19.6% from 2021 to 2028. The report offers a detailed analysis of changing market trends, key segments, top investment pockets, competitive landscape, and regional scenarios.
Changes in lifestyle, rise in use of smartphone, and new product developments drive the growth of the U.S. mhealth device market. However, concerns regarding regulatory compliance hinder the market growth. On the other hand, increase in awareness toward remaining fit and active create new opportunities in the coming years.
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The demand for mhealth devices has been increased significantly during the Covid-19 pandemic to monitor health conditions remotely for ensuring safety and avoiding cross-contamination during visits to clinics or hospitals.
However, production facilities faced challenges such as shortage of workers, procurement of raw materials, and disruptions in supply chain due to lockdown. The production is expected to resume with full capacity during the post-lockdown.
The report offers detailed segmentation of the U.S. mhealth device market based on device type and application.
Based on device type, the IoT devices segment accounted for the highest market share in 2019, contributing to more than one-third of the total share in 2019, and is projected to maintain its leadership status by 2028. However, the mobile computers segment is estimated to portray the largest CAGR of 24.4% from 2021 to 2028.
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Based on application, the diagnosis & treatment segment held the largest market share, accounting for nearly half of the U.S. mhealth device market in 2019, and is expected to maintain its lead position during the forecast period. However, the real-time tracking segment is projected to manifest the fastest CAGR of 20.7% from 2021 to 2028.
Leading players of the global the U.S. mhealth device market analyzed in the research include Ascom Holding AG, Honeywell International Inc., Kaiser Permanente, Zebra Technologies Corp, General Electric Company, Cybernet Manufacturing, Inc., Vivify Health, Inc., NETSCOUT Systems, Inc., Medtronic Plc, Masimo, Agamatrix Inc., Boston Scientific Corporation, Omron Corporation, Athenahealth Inc., Koninklijke Philips NV, and HCHB.
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