The global mobile health market is expected to reach $49 billion by 2020, according to a study by Grand View Research.
In 2012, the global market for mobile health was valued at $1.95 billion and is expected to grow at a compound annual growth rate of 47.6 percent from 2014 to 2020.
North America, accounted for 33.5 percent of the total revenue in 2012, dominating the mobile health global market. As people pay more out of pocket for healthcare in North America, Grand View believes demand for lower cost mobile health tools will go up.
While North America dominated in 2012, Grand View predicts the Asia Pacific market, which includes Australia, India, China, and Japan, will be the fastest growing market, with an estimated CAGR of 49.1 percent from 2014 to 2020.
Via Dinesh Chindarkar