HOME Research Insight Medtronic Plc (Ireland), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), and Johnson & Johnson (US) Dominated the Global Mhealth Solutions Market

Medtronic Plc (Ireland), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), and Johnson & Johnson (US) Dominated the Global Mhealth Solutions Market

The global mHealth solutions market is projected to reach USD 90.49 Billion by 2022 from USD 21.17 Billion in 2017, at a CAGR of 33.7%. The mHealth solutions market is consolidated in nature with the top four players commanding a major share of the market. In 2016, Medtronic, plc (Ireland), Koninklijke Philips N.V. (Netherlands), Omron Corporation (Japan), and Johnson & Johnson(US) dominated the mHealth solutions market and accounted for approximately 40 to 45% share of the global mHealth solutions market.

Medtronic, Inc. (U.S.) dominated the global mHealth solutions market in 2016. The company derives majority of its revenue from its operations in North America. However, the company intends to expand its business in the international markets, mainly through partnerships and product launches. For instance, in February 2017, Medtronic collaborated with Garmin International Inc. to integrate Garmin’s wearable device data directly into Medtronic Care Management Services' (MCMS) remote patient monitoring platform. Similarly, in 2015, the Cardiocom Business of Medtronic plc entered into a partnership agreement with LHC Group (U.S.). Through this collaboration, LHC will offer remote patient monitoring services using Medtronic’s Commander Flex remote monitoring devices for their patients with heart failure, hypertension, chronic obstructive pulmonary disease, and diabetes. In addition to this in October 2016, Medtronic launched MiniMed Connect mobile accessory to help diabetes patients in checking real-time glucose level on Android mobile devices. This product launch will help the company to enhance its market share in the market.

Philips Healthcare is the second largest player in the mHealth solutions market in 2016. This share is attributed to the company’s wide offering in the connected medical devices market and its global presence. The company has majorly adopted product launched as the key strategy to increase its share in other mHealth solutions market segments such as mhealth applications. For instance in 2015, Philips launched the Philips CareEvent mobile application at the HIMSS15 Conference and Exhibition in Chicago. This application turns a smartphone into a valuable clinical tool to meet the workflow demands for nurses and caregivers who are constantly busy within the hospital.

Omron Corporation (Japan) accounted for the third largest share of the global mHealth solutions market with its flagship products—Alvita Pedometers, Series 7 & 10 wireless blood pressure monitors, and HBF body composition monitors. The company majorly focuses on product launches as a key strategy to increase its market shares. In March 2015, OMRON Healthcare launched a new Alvita Wireless Activity Tracker. Through this tracker, users can transfer fitness data wirelessly to their smartphones with the Omron Fitness App. In May 2015, the company launched HEM-9200T, a smartphone-connected blood pressure monitor. In October 2014, Omron Healthcare launched a new product line of blood pressure monitors. This includes smartphone-connected 7 series and 10 series wireless upper arm blood pressure monitors.

Related Reports:

mHealth Solutions Market by Connected Devices (Blood Pressure Monitor, Glucose Meter, Peak Flow Meter) Apps (Weight Loss, Woman Health, Personal Health Record, & Medication) Services (Diagnostic, Remote Monitoring, Consultation) - Global Forecasts to 2022

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