MOBILE HEALTH VEHICLE MARKET ANALYSIS

Market Challenges And Opportunities

• Infrastructure limitations
• Cost and funding constraints
• Regulatory and legal challenges
• Limited scope of services

Global Mobile Health Vehicle Market- Restraints

• Infrastructure Limitations: Mobile health vehicles require appropriate infrastructure to operate effectively. This includes access to reliable power sources, water supply, waste disposal facilities, and internet connectivity. In remote or underserved areas with limited infrastructure, setting up and operating mobile health vehicles can be challenging, thus hindering their deployment and scalability.
• Cost and Funding Constraints: Acquiring and maintaining mobile health vehicles can involve substantial costs. These include vehicle acquisition, equipment installation, maintenance, fuel, insurance, staffing, and technology upgrades. Additionally, funding sources for mobile health vehicles, such as grants, sponsorships, or government support, may be limited or competitive. Financial constraints can impede the expansion and sustainability of mobile health vehicle programs.
• Regulatory and legal challenges: Mobile health vehicles must comply with various regulatory and legal requirements. These include licensing, permits, certifications, and compliance with healthcare standards, and privacy Navigating these regulatory landscapes can be complex and time-consuming, thus potentially delaying the deployment of mobile health vehicles or increasing operational costs.
• Limited scope of services: Mobile health vehicles may face limitations in the scope of services they can provide, due to space constraints and the availability of specialized equipment. Certain medical procedures or diagnostic tests may require larger facilities or sophisticated equipment that cannot be accommodated in a mobile setting. The inability to offer a comprehensive range of services could restrict the market potential for mobile health vehicles.

Global Mobile Health Vehicle Market- Drivers

• Increasing adoption of inorganic growth strategies such as acquisition by the key market players: Increasing adoption of inorganic growth strategies such as acquisition by the key market players is expected to drive the global mobile health vehicle market growth over the forecast period. For instance, in February 2022, Potomac Equity Partners, LLC, an investment firm, announced the acquisition of U.S. Mobile Health Exams, a provider of mobile health testing and examination services. U.S. Mobile Health Exams specializes in occupational health tests (e.g., hearing conservation, respiratory protection, physical exams, and drug and alcohol testing), and health screenings (e.g., blood tests, ultrasound screenings, immunizations, community health outreach and other advanced screenings). The company primarily provides services to commercial customers who are subject to the U.S. Occupational Safety and Health Administration (“OSHA”) and the S. Department of Transportation (“DOT”) employee testing requirements.
• Increasing prevalence of chronic diseases: Increasing prevalence of chronic diseases such as diabetes is expected to offer lucrative growth opportunities for the key market players in the global mobile health vehicle market. For instance, in March 2023, according to the data published by the National Institute of Mental Health (NIMH), in the U.S., more than 57.8 Mn people were affected with diabetes in 2021.
• Increasing funding from non-government organizations: Increasing funding from non-government organizations is expected to aid in market growth. For instance, in April 2022, Wayne State University, a U.S. based public research university and Wayne Health, a non-profit, multi-specialty academic group, announced that they had received a US$ 900,000 grant from Bank of America to strengthen the Wayne Health Mobile Unit (WHMU) program.
• Healthcare Cost Reduction: Mobile health vehicles can help reduce healthcare costs by providing efficient and cost-effective healthcare services. They offer an alternative to traditional brick-and-mortar healthcare facilities, which can be expensive to establish and maintain. Mobile health vehicles can reach a larger population while requiring fewer resources and infrastructure, thereby lowering the overall healthcare costs. For instance, in December 2020, according to data published, by the National Library of Medicine, the cost per patient visit for all mobile vehicle health service types ranged from US$ 65 to US$ 529, and appears to be considerably less than fixed clinic/ hospital services.