Nivedit Majumdar Nivedit Majumdar

Quantified Healthcare: mHealth

The world is heading towards a more fitness centric mindset: People want to get healthier, sleep better and become fitter. While this has always been the case, with changing lifestyles and the advent of more wearables to track and monitor your health stats, it has become more convenient and inexpensive to track health related data.

Now, the entire purpose of tracking of health data is to come up with visible results and analyse them. This process of quantification, along with linking of health stats to social networks or dedicated fitness trainers, is the true driving force behind the development of the fitness scenario. Another key driving force is the evolution of mHealth in general.

In this article, I delve into mHealth, the current scenario in this arena, and how it is proving to be a game changer in Quantified Healthcare.

EASING INTO THE BASICS

mHealth might be a term new for many, so I’ll briefly go over the general overview of what it stands for.

Mobile Healthcare, or mHealth, basically denotes the delivery, facilitation and communication of healthcare services over mobile devices such as PDAs, Smartphones, Tablets and other wireless infrastructures in general.

Quantification is a term that is close to all of us here at Emberify. It has been the concept behind the development of our groundbreaking application Instant, and the concept of Quantification and Lifelogging is something which I believe has great potential.

Now the delivery of healthcare services over mobile, along with the emerging trends in the wearable sector – I believe both these factors can play a vital role in the development of quantified healthcare in general. In fact, here’s a survey that was undertaken regarding how important can the development of medical teleservices be in the U.S.

emberify_survey_importance_of_telemedicine_development_us_healthcare_organisations
(Survey conducted by Statista)

HOW MHEALTH CAN LEAD TO QUANTIFIED HEALTHCARE

There has to be an action and a reaction for a balanced system, and this rule applies in this sector as well. Inexpensive wearable devices will keep a track of all the calories you’ve burnt and the miles you’ve run, and this data can be sent to the relevant medical practitioners or fitness experts who will give a systematic analysis and feedback via the mHealth platform.

To understand this concept better, a lot can be gathered from the key areas that mHealth focuses upon. There are mainly eight sectors in this regard: general monitoring, personal emergency response systems (PERS), telemedicine, mobile medical equipment, RFID tracking, health and fitness software, mobile messaging and electronic medical records. Using all these strategies in a comprehensive manner can lead to the delivery of quantifiable results.

emberify_availability_of_selected_telemedicine_practices_to_us_patients_2014
(Data Source: Statista)

Besides, this sector is seeing high adoption rates owing to consumer demand, that is fuelled by the development of applications and platforms, along with the plethora of tracking equipment along with some wireless robotics. All in all, the concept of mHealth is a booming one, which can be further analysed from the statistics below.

SOME KEY STATISTICS

• Since we’re mainly discussing the presence of Mobile in Healthcare, it’s important to note the rising number of smartphone users worldwide. The value at 2015 is projected at 1.91 billion people, and it is expected to grow to about 2.56 billion people by 2018.

emberify_no_of_smartphone_users_worldwide_2018
(Data Source: Statista)

• Now when we talk about mobile phone users, it’s also important to note the revenue incurred from mobile services worldwide. This figure is expected to land at a whopping $1,137 billion in 2015!

emberify_mobile_service_revenues_worldwide_2010_2015_billion_us_dollars
(Data Source: Statista)

• At Emberify, we take keen interest in the sector of mergers and acquisitions. In the U.S. Healthcare and Life Sciences industry, the value of M&As took a sudden jump upward in 2014, and is expected to rise in 2015 too.

emberify_transaction_value_of_mergers_and_acquisitions_in_us_healthcare_and_lifescience_industry_2009_2014
(Data Source: Statista)

• Here’s the projected CAGR for the global digital health market, by segment. mHealth services will rise at 36%, which is mighty impressive.

emberify_projected_cagr_for_global_digital_health_market_2013_2020_by_segment
(Data Source: Statista)

• Finally, here are the global revenue projections for mHealth applications. By 2017, this number will rise to about $26.56 billion, and is expected to grow to about $49.12 billion by 2020 (Source: Grand View Research)

emberify_global_revenue_projection_mhealth
(Data Source: Grand View Research and research2guidance)

TO CONCLUDE

mHealth and the rapidly developing wearable and tracking equipment/applications market go hand in hand when it comes to providing quantified healthcare data. I’m sure that both these sectors will see great development in the coming times.

We’re heading towards an era where Quantification will be one of the most popular concepts, and mHealth services is a key driving force in this segment!

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