mHealthWatch reports that revenue from mobile health-related technologies and services are poised to reach staggering heights in thevery near future.
Gone are the days when the boldest projections for mHealth’s growth focused on the distant future. In fact, the latest industry estimate, which calls for mHealth revenue to reach or possibly even exceed the $9 billion mark, isn’t looking beyond 2014.
Signals and Systems Telecom projects the market to hit this lofty perch sometime before 2014 draws to a close.
Growing at a projected CAGR of close to 40 percent over the next six years, mHealth will just be getting warm this year. But the most recent industry forecasts suggest that the growth anticipated for 2014 will be so significant that most analysts will soon stop seeing mHealth as a field that is still far away from gaining mainstream momentum.
“Among the opportunities highlighted by the study are the use of 4G networks for remote doctor-patient consultation,” says Richard Handford editor of Mobile World Live’s health and money channels. “Operators can also offer their networks for other latency and bandwidth-sensitive applications. The study gives an example of London’s Air Ambulance which uses EE’s LTE network for navigational support.”
Although regulation and privacy concerns are still cited as potential hindrances for mHealth’s growth, the industry should largely overcome such lingering concerns and criticisms as more time, attention, and innovation are directed toward mHealth by technology’s and healthcare’s biggest players.