mHealth is already a $1.5 billion market

The market for mobile health technology will reach an estimated $4.6 billion by 2014, according to a report released Friday by CSMG.

mHealth is already a $1.5 billion market according to CSMG, and it is expected to grow over the next five years at a 25 percent CAGR (compound annual growth rate). If certain broad healthcare reforms are instituted, such as pay-for-performance, adoption could accelerate.

The report mHealth: Taking the Pulse asserts that while the opportunities in the market are high, the market is so fragmented across many solutions and device types that it will be hard for a single player to take advantage of the opportunities.

CSMG is the strategy division of consulting firm TMBG Global.

Read the full report