CSMG, the strategy division of TMNG Global (Nasdaq:TMNG), a leading provider of professional services, products and services to the converging communications, media and entertainment industries, today released its report on the state of the U.S. mobile health (mHealth) market, entitled: mHealth: Taking the Pulse. According to CSMG, while the mHealth market presents significant growth opportunities, when taking into account device, software, connectivity and overall service revenue streams, the market and ecosystem are fragmented, creating challenges for any single player to address the full breadth of opportunities.
"mHealth is well positioned to address the needs and evolution of the US health care delivery because it provides cost-efficient care delivery and increases access to quality health care," said Rich Nespola, Chairman and CEO of TMNG Global. "The proliferation of embedded wireless connected devices and Smartphone growth creates significant transformational opportunities to deliver cost-effective and viable mobile health care options. However, broader reform of the health care industry structure is needed to reach the full potential for integrating mHealth into the U.S. health care delivery system."
The report finds that the mHealth market will reach an estimated $4.6 billion opportunity by 2014, but will be fragmented across many solutions and device types. mHealth is already a significant market ($1.5B in estimated 2009 revenue including fixed telemedicine solutions), and is expected to grow over the next five years at a 25 percent CAGR (compound annual growth rate). If certain broad health care reforms are instituted, such as pay-for-performance, adoption could accelerate.
CSMG outlines seven key mHealth technology opportunities that comprise the market including monitoring, personal emergency response services (PERS), telemedicine, mobile medical equipment, mobile health information, RFID tracking and health/fitness software.
Among other key findings of the report: