The US mhealth device market is expected to see a CAGR of nearly 20% to top $53bn by 2028. according to Allied Market Research.

The US mhealth device industry size was valued at $12.11bn in 2019, and is projected to reach $53.25bn by 2028, registering a CAGR of 19.6%.

Mhealth is defined as the public health practice assisted by the use of mobile computers, including smartphones, tablets, IoT devices and mobile broadband. It also includes devices such as blood glucose monitors, blood pressure monitors, heart rate monitors, sleep monitors, insulin pumps and pulse oxymeters. These devices collect and store patient-related information, which is used in diagnosis and treatment of various diseases. The major applications of the mhealth devices are diagnosis, treatment, real-time tracking and data collection.

Factors such as changes in lifestyle, high adoption of smartphones and tablets in the healthcare sector, and development of new and advanced devices are driving mhealth device market growth.

Consumers prefer devices that are portable and easy to carry and possess features such as easy connectivity with the internet and data sharing among connected devices, such as from patient to healthcare professionals, which in turn drives the growth of the mhealth devices market revenue. In addition, increases in demand in diagnosis and treatment in Covid-like situations further contribute to market growth.

Market players such as Masimo, Philips and Medtronic are focusing their investment on technologically advanced and cost-effective products. For instance, Masimo in 2020 launched Masimo Sleep, designed to help consumers better understand the quality of their sleep. It uses lightweight sensors, while the sleep app collects the user’s data using clinically proven pulse oximetry to track changes in key vital signs during sleep. Medtronic launched InPen integrated with real-time Guardian Connect CGM data. It was the first FDA-cleared smart insulin pen on the market for people on multiple daily injections.

Covid-19 impacted severely on the global electronics and semiconductor sector, due to production facilities and new projects stalling. The operations of the production and manufacturing industries have been heavily impacted by the disease. Moreover, the increase demand for mhealth devices during the pandemic fostered market growth.

By device type, the mobile computers segment generated the highest revenue in the US mhealth device market in 2019. By application, diagnosis and treatment generated the highest revenue.

Key market players include Ascom, Kaiser Permanente, Honeywell, General Electric, Zebra Technologies, Vivify Health, Cybernet Manufacturing, Medtronic, Netscout, Boston Scientific, Masimo, Agamatrix, Athenahealth, Omron, Philips and HCHB.

A sample of the report can be downloaded at www.alliedmarketresearch.com/request-sample/A11325.