Wireless Health Market size worth $ 355.78 Billion, Globally, by 2028 at 16.2% CAGR: Verified Market Research®

Wireless Health Market size worth $ 355.78 Billion, Globally, by 2028 at 16.2% CAGR: Verified Market Research®

PR Newswire

JERSEY CITY, N.J., Jan. 6, 2022

Progress in wireless communication technologies, more usage of mHealthcare solutions in chronic disease cases, patient-friendly techniques, and user-friendliness are the factors driving the global Wireless Health Market.

JERSEY CITY, N.J., Jan. 6, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Wireless Health Market" By Component (Services, Software, and Hardware), By End User (Provider, Payers, and Individual/Patients), By Technology (WPAN, Wlan/WiFi, Wimax, and WWan), By Application (patient specific applications, and provider/payer specific applications), and By Geography. According to Verified Market Research, the Global Wireless Health Market size was valued at USD 104.80 Billion in 2020 and is projected to reach USD 355.78 Billion by 2028, growing at a CAGR of 16.2% from 2021 to 2028.

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Browse in-depth TOC on "Wireless Health Market"
202 - Pages
126 – Tables
37 – Figures

Global Wireless Health Market Overview

The growing need for remote patient monitoring services & increasing usage of tablets and smartphones is boosting the growth of the global wireless health market. Geriatric people are vulnerable to diseases owing to their low immunity levels and high recovery time; their surging population is positively impacting the demand for patient care. This in turn is driving the requirement for wireless health solutions. The rising growth of smartphone users around the world is further expected to augment the market growth. For instance, across the globe, the number of tablet and smartphone users has increased significantly over the past five years. There has been a tremendous rise in the use of smartphones by physicians in the U.S. leading to increased practice of wireless health. The initiatives by the government organization and healthcare communities to create awareness regarding the use of wireless health, digital health and easier government regulations for the adoption of several healthcare IT solutions will augment the market growth.

Moreover, raising the venture capital and funding from healthcare providers to the start-ups that provide such services will further drive the market growth. However, rising security concerns for data such as cyber-attacks and unauthorized access to information technology systems might limit the wireless health market growth in the coming years. The security concerns regarding the patient data might hamper the market value. The lack of skilled IT professionals all across the globe in the healthcare sector might hamper the growth of the wireless health market. The healthcare sector is continuing to experience a shortage of qualified healthcare IT staff that, in the view of some observers, is growing worse. Moreover, the lack of awareness regarding wireless health practices is mainly due to the lack of universal healthcare coverage, which leads to the unwillingness of people towards using advanced technologies.

Key Developments

Key Players

The major players in the market are Cerner Corporation, AT&T, Inc., Philips Healthcare (A Subsidiary of Royal Philips Electronics), Omron Corporation, Verizon Communications, Inc., Qualcomm, Inc., Aerohive Networks, Inc., Vocera Communication, Inc., Allscripts Healthcare Solutions, and Inc.

Verified Market Research has segmented the Global Wireless Health Market On the basis of Component, End User, Technology, Application, and Geography.

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