Wireless Health Market is valued approximately at USD 89.63 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 23.10% over the forecast period 2020-2027.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Rise in the number of health programs worldwide, an increase in mobile penetration and Internet access, and an increase in the pattern of self-management are some of the factors that fuel business growth,for instance, as per Statista, in 2020 83% of the population of the United States were mobile Internet users. The United Arab Emirates ranked first with over 95 per cent mobile Internet coverage. South Korea ranked second with 95.2 percent penetration of mobile Internet users. South Korea and the UAE are both among the fastest overall broadband Internet speeds in the world. Further, growing trend towards the use of wearable devices to track physical metrics, such as sleep, blood pressure, heart rate, and physical activity, is also driving the wireless health industry. In addition, According to Statista , worldwide revenue of the wearable devices market is expected to reach almost $34 billion in 2019. According to Statista, regarding healthcare and medical environment, it is expected to grow almost to USD 15 billion worldwide value in 2019.
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The increasing geriatric population and the resulting increase in the burden of chronic diseases are also pushing the demand. According to The Wall Street Journal, there has been an increase in the use of digital medicine to treat health illnesses such as diabetes, pulmonary disease and respiratory disorders. In addition, these automated drugs are cost-effective solutions to conventional disease control. However, high costs impedes the growth of the market over the forecast period of 2020-2027. Also, according to the United Nations, it is projected that the percentage of people aged 65 years and older in different countries will rise from 16% in 2000 to 24% by 2030. This is supposed to place immense pressure on the existing healthcare system. Technologies, such as wireless healthcare networks, can also help to ease the medical regime for the increasing elderly population, providing opportunities for the Global Wireless Health Industry.
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The regional analysis of global Wireless Health market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to Healthcare in Europe is being increasingly digitalized, and there is a growing need to build and deploy advanced information systems. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising demand for Wireless Health care equipment’s would create lucrative growth prospects for the Wireless Health market across Asia-Pacific region.
Major market player included in this report are:
Allscripts Healthcare Solutions, Inc.
AT &T, Inc.
Verizon Communications, Inc.
Aerohive Networks, Inc.
Vocera Communications, Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Patient Communication and Support
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Rest of the World
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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