The rising use of mobile devices and integration of IT technologies in the healthcare industry has laid the foundation for global healthcare mobility solutions market. Healthcare mobility solutions refer to a wide range of software and hardware products that enable the transformation of conventional healthcare processes into automated and knowledge- and information-driven processes. Mobility solutions can make patient care more effective by reducing response time, enhancing workflow efficiency, reducing paper work and chances of erroneous manual recoding of essential health-related data, and reducing the overall healthcare costs and risks. From the point of view of healthcare providers, mobility solutions also help to increase patient throughput, make data organization and management easier as compared to manual records, and enable informed clinical decision-making through real-time access to patient information.
In the past few years, the global healthcare Industry has consistently increased the adoption of enterprise mobility. Much of the healthcare data earlier conveyed through papers have now been turned into electronic records, including test results, healthcare records, consultation notes, diagnoses, etc. This shift from manual data recording and management to electronically stored data and instant forms of data transfer has significantly increased the speed and efficiency of diagnosis and treatment, ultimately leveraging patient satisfaction. With the evolution of electronic communication, mobile devices such as smartphones, tablets, etc., are becoming the preferred tools for patients and healthcare providers as well for convenient communication, anywhere and anytime.
Increased Accessibility to Mobile Devices and the Internet Propels Market
A research undertaken by Alego Health, a U.S.-based healthcare IT services and solutions provider, over 72% nurses and 62% doctors in the U.S. were using smartphones and tablet computers in healthcare settings in 2012. The study also states that nearly 247 mn people in the U.S. in the same year downloaded mobile healthcare apps for personal use. By that year, over 40,000 healthcare mobile apps were available in the market, the number of which has consistently increased ever since.
The high rate of adoption of mobile devices in healthcare facilities, the unprecedented pace at which technological advancements are taking place in the field of mobile connectivity, and the improved network of high-speed Internet across the globe are the key factors propelling the healthcare mobility solutions market.
Healthcare Service Providers Account for Largest Share of Market
A report published by Transparency Market Research on the global market for healthcare mobility solution states that the market will expand at an exceptional 25.5% CAGR between 2015 and 2023. As a result, the market, which had a valuation of US$20.13 bn in 2014, is projected to rise to a valuation of US$148.66 bn by 2023.
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The healthcare mobility solutions market serves three major groups of individuals: patients, payers, and healthcare providers. For the patients, the market serves through mobile healthcare apps that allow patients to avail services such as electronic access to self healthcare records, lab results, apply for medical reimbursements, and others. For healthcare providers, healthcare mobility solutions help manage and organize healthcare data and streamline a number of processes in the healthcare a lot more efficiently than manual processes.
Payers, which comprises medical insurance companies or any third party taking care of the healthcare costs of a patient, can make fair use of the transparency provided by healthcare mobility solutions in terms of the actual costs incurred for a healthcare service availed by a patient (the client of the payer, in this case). Currently, it is the segment of healthcare service providers that accounts for the largest share of the global market, which is an estimated 45% in 2014, followed by the patients’ segment. On a global front, North America is the current leader of the market, followed by Europe and Asia Pacific.
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