The market for global mobile health (mHealth) technologies is expected to grow at a five-year compound annual growth rate (CAGR) of 55% to reach $21.5 billion in revenues by 2018.
That's according to a report by market research firm BCC Research, which found that innovations in the mHealth sector over the next decade will be driven by the evolution of smartphone technologies, improvements in wireless coverage, and remote treatment and monitoring of prevalent diseases.
While North America is currently the largest global mHealth market, Europe is the fastest-growing segment, BCC Research said. With a 62% CAGR over the next five years, Europe is expected to be the largest market by 2018, according to the firm.
