July 13, 2024

Healthcare Mobility Solutions Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2030

The global Healthcare Mobility Solutions Market is estimated to be valued at US$ 121.6 Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Healthcare mobility solutions enable access to patient health records and other medical tools through devices such as tablets, laptops and smartphones. These solutions help digitalize healthcare facilities by integrating clinical images and data with workflow management systems. They streamline processes, improve patient care quality and help manage costs. Growing demand for centralized health records and rising BYOD (Bring Your Own Device) trend are major factors driving the need for these solutions across healthcare organizations. They enable access to real-time patient data from any location. This increases care coordination and optimizes resource utilization. Mobility solutions also empower caregivers with tools to remotely monitor and manage chronic conditions. This helps prevent expensive ER visits and hospital readmissions.

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Market key trends:

The adoption of digital technologies like cloud, big data analytics and IoT is a key trend shaping the future of healthcare mobility solutions market. Cloud-based mobility platforms allow secure remote access and centralized updates of health records and clinical apps. Big data solutions help providers gain valuable insights from disparate data pools to optimize operations. Integration of mobility solutions with IoT devices like EKG and glucometers facilitate remote patient monitoring and management of post-discharge care. Artificial intelligence and machine learning tools also enhance the capabilities of mobility platforms. For instance, AI assisted technologies streamline workflow management, automate administrative tasks and alert caregivers of critical patient events. The convergence of digital technologies with healthcare mobility solutions thus enables holistic and comprehensive care delivery.

Porter’s Analysis

Threat of new entrants: The healthcare mobility solutions market requires huge investments in R&D for new product development. Established players such as Cisco Systems and SAP SE have created significant entry barriers for new players through their strong brand image and competitive pricing.

Bargaining power of buyers: The bargaining power of buyers is moderate. However, large healthcare institutions can negotiate better prices and demand additional services from vendors due to their high purchasing power and volume.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of numerous component manufacturers and suppliers in the market. Suppliers cannot influence prices due to low switching costs.

Threat of new substitutes: There is a low threat of substitutes as healthcare mobility solutions facilitate improved patient care, staff productivity and operational efficiency. No alternative offers the entire package of benefits provided by these solutions.

Competitive rivalry: The market is highly competitive with vendors differentiating based on product offerings, service quality, pricing and innovation.

Key Takeaways

The global Healthcare Mobility Solutions Market is expected to witness high growth, exhibiting a CAGR of 21% over the forecast period, due to increasing need for healthcare connectivity and mobility among doctors and patients.

Regionally, North America is expected to dominate the global market owing to innovative technologies, rising healthcare costs and prevalence of chronic diseases in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period driven by increasing healthcare spending, demand for quality healthcare and rising medical tourism in China and India.

Key players operating in the healthcare mobility solutions market are AirStrip Technologies, Inc., AT & T, Inc., Cerner Corporation, McKesson Corporation, Koninklijke Philips N.V, Cisco Systems, Inc., Oracle Corporation, SAP SE, Omron Corporation, and Zebra Technologies Corporation. These players are focusing on new product launches and partnerships with healthcare providers to strengthen their market position. For instance, in 2021, Zebra Technologies partnered with Cigna to develop and deploy customized healthcare mobility solutions for improved patient experience and staff productivity.