HEALTHCARE MOBILITY SOLUTIONS MARKET ANALYSIS

The global healthcare mobility solutions market is estimated to be valued at US$ 121.6 Million in 2023 and is expected to exhibit a CAGR of 21.2% during the forecast period (2023-2030).

Analysts’ Views on Global Healthcare Mobility Solutions Market:

An increasing number of product launches by market players is expected to drive the market growth over the forecast period. For instance, in October 2021, KareXpert Technologies Pvt. Ltd., an India-based software company, launched SuperApp mobility solution to enable hyper-coordinated healthcare workflows. SuperApp Mobility, the Jio-backed SaaS-based digital healthcare platform manufactured and developed by KareXpert has introduced its cutting-edge mobility solutions to optimize hospital operations carried out by staff members and patients utilizing SuperApp technology.

Figure 1. Global Healthcare Mobility Solutions Market Share (%), by Product Type, 2023

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Global Healthcare Mobility Solutions Market – Driver

• Increasing partnerships between key market players: An increase in the number of partnerships by key market players is expected to propel the growth of the market over the forecast period. For instance, in May 2023, Koninklijke Philips N.V., a multinational conglomerate corporation, announced a partnership with Masimo, a medical device company, to supplement patient monitoring capabilities in home telehealth apps with Masimo W1TM smart health tracking watch.

• Increasing number of acquisitions by market players: An increase in the adoption of strategies such as acquisitions by key market players is expected to drive the global mobility healthcare solutions market growth. For instance, in December 2021, Oracle Corporation, a computer software company, announced that it had acquired Cerner Corporation, a computer and information technology company providing technologies such as healthcare mobility solutions.

Figure 2. Global Healthcare Mobility Solutions Market Value (US$ Million), by Region, 2023

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Global Healthcare Mobility Solutions Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global healthcare mobility solutions market over the forecast period. North America is estimated to hold 47.3% of the market share. The key market players operating in North America are adopting strategies such as partnerships to expand their business globally, and this is expected to drive the market growth in the region over the forecast period. For instance, in May 2023, Renovotec, a software and services company, announced a partnership with Social Mobile, a U.S.-based provider of enterprise mobility solutions. Social Mobile’s fast-to-market mobility solutions will support Renovotec’s rapid expansion in the doorstep delivery and field service markets. Target sectors for the new partnership include transportation, logistics, healthcare, retail, and hospitality.

Global Healthcare Mobility Solutions Market – Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, were facing problems with the transportation of drugs from one place to another.
• However, the COVID-19 pandemic had a positive impact on the global healthcare mobility solutions market, as the market witnessed the launch of solutions in line with the COVID-19 pandemic. For instance, in June 2020, Fitbit, consumer electronics company launched a new Ready for Work solution that gives employees access to key health metrics from Fitbit device, along with exposure, symptom, and temperature logging, to help employers with the unprecedented challenge of returning to the workplace during the COVID-19 pandemic.

Global Healthcare Mobility Solutions Market Segmentation:

The global healthcare mobility solutions market report is segmented into Type, Application, End User, and Region.

• By Type, the market is segmented into Mobile Devices, Mobile Applications, and Enterprise Mobility Platforms. Out of which, the Enterprise Mobility Platforms segment is expected to hold a dominant position in the global healthcare mobility solutions market during the forecast period, and this is attributed to the technological advancements in the field of healthcare mobility solutions.
• By Application, the market is segmented into Enterprise Solutions and mHealth Applications. Out of which, the mHealth Applications segment is expected to hold a dominant position in the market during the forecast period, and this is attributed to the increasing product launches such as mobile applications.
• By End User, the market is segmented into Payers, Providers, and Patients. Out of which, the Payers segment is expected to hold a dominant position in the healthcare mobility solutions market during the forecast period, and this is attributed to the increasing awareness of healthcare mobility solutions.
• By Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, North America is expected to hold a dominant position in the market during the forecast period, and this is attributed to the increasing adoption of strategies such as partnerships between the key market players.

Among all the segmentations, the Application segment has the highest potential due to the increasing launch of mHealth applications, and this is expected to drive the growth of the segment over the forecast period. For Instance, in October 2020, the American Telemedicine Association collaborated with a digital health assessor based in the U.K. to create a resource for clinicians, payers, and others requiring information on quality-based mHealth apps.

Global Healthcare Mobility Solutions Market Cross Sectional Analysis:

In the application segment, mHealth applications held a dominant position in the Asia Pacific region due to the increasing number of partnerships between key market players. For instance, in July 2021, Mobile Health, an employee screening and occupational health provider, announced that has signed an eight-year agreement to be the Preferred Partner for employer health and wellbeing program customization for Sydney, the member engagement tool offered to members of Anthem Blue Cross and Blue Shield's plans.

Global Healthcare Mobility Solutions Market: Key Developments

• In June 2023, Pioneer Corporation, a global company that specializes in mobility products, announced its strategic collaboration and investment plans with CerebrumX Labs Inc., an AI (artificial intelligence)-driven automotive data management company, to accelerate the growth of its mobility services business.
• Increasing smartphones penetration is expected to propel the global healthcare mobility solutions market growth over the forecast period. For instance, according to the Pew Research Center, as of February 2019, 81% of U.S. adults used smartphones, compared to 77% in October 2018.

Global Healthcare Mobility Solutions Market: Key Trends

• mHealth application is  expected to witness significant growth of market owing to increasing number of collaborations : The mHealth application segment is expected to witness significant growth due to the increasing number of collaborations between market players. For instance, in November 2022, Mobility Exchange, an information technology and services provider, collaborated with Samsung's Mobile B2B Healthcare Team to make use of its latest mobile device offerings. Samsung Health, a free mobile application developed by Samsung will provide fully optimized devices and solutions for the implementation of MobEx Health Hub and Family Connect applications powered by Mobility Exchange.

Global Healthcare Mobility Solutions Market: Restraint

• Privacy and security concerns: Privacy and security concerns are expected to hinder the market growth. Ensuring data privacy and security is one of the major challenges faced by healthcare mobility solution providers. Security and privacy risks are a huge concern due to growing practices including unauthorized access, identity theft, data hacking, and patient data alteration or modification. This challenge can be overcome by spreading awareness about unauthorized access, identity theft, and data hacking among users to use healthcare mobility solutions more securely and safely.

Global Healthcare Mobility Solutions Market - Key Players

Major players operating in the global healthcare mobility solutions market include AirStrip Technologies, Inc., AT & T, Inc., Cerner Corporation, McKesson Corporation, Koninklijke Philips N.V, Cisco Systems, Inc., Oracle Corporation, SAP SE, Omron Corporation, and Zebra Technologies Corporation.

*Definition: The goal of healthcare mobility is to alter and replace antiquated or conventional medical techniques with mobile technologies. Implementing healthcare mobility has numerous advantages such as real-time tracking of a patient’s records which could help professionals make decisions, etc.