May 18, 2024
Mobile Health Vehicle Market

Mobile Health Vehicle Market Driven By Growing Geriatric Population Globally

The mobile health vehicle market has seen significant growth in recent years driven by the growing geriatric population globally who require specialized healthcare services closer to their homes. Mobile health vehicles provide advanced medical diagnostic and treatment facilities typically equipped with state-of-the-art medical equipment like X-Ray machines, laboratory testing equipment, dental chairs and minor procedure rooms on wheels. These vehicles travel to rural, remote and underserved areas expanding access to healthcare for communities where medical facilities are sparse. The global mobile health vehicle market enables delivery of primary care, chronic disease management, preventive screenings, immunization as well as other services for varying patient needs.

The global Mobile Health Vehicle Market is estimated to be valued at US$ 244.7 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growing adoption of telehealth and telemedicine is one of the key trends witnessed in the mobile health vehicle market. Various mobile health vehicle service providers are integrating technologies like connected devices, remote patient monitoring systems and virtual consultations to enhance the quality and scope of on-site as well as post-care services. This allows clinical experts to review patient records, diagnostic reports and prescribe treatment plans digitally even when the vehicle is not physically present. The use of advanced technologies has proved beneficial during the recent COVID-19 pandemic by limiting exposure and helping maintain social distancing norms. With further advancements, mobile telehealth is poised to transform healthcare delivery in remote and rural geographies globally.

Porter’s Analysis

Threat of new entrants: The mobile health vehicle market requires high initial investments and government certifications. This poses high barriers for new companies.
Bargaining power of buyers: Buyers have low bargaining power since there are no close substitutes for customized mobile health services delivered at the doorstep.
Bargaining power of suppliers: Suppliers have moderate bargaining power as major players rely on a limited number of suppliers for medical equipment and vehicles.
Threat of new substitutes: Alternatives such as telehealth and online consultations pose low threat currently due to lack of physical examination abilities.
Competitive rivalry: The market has some large players with nationwide presence. However, opportunities remain in rural regions.

Key Takeaways

The Global Mobile Health Vehicle Market Demand is expected to witness high growth. It is estimated to reach a value of US$ 244.7 Mn by 2023.

Regional analysis: North America dominates the market currently owing to greater awareness and supportive government policies. Asia Pacific is expected to be the fastest growing region on account of rising healthcare infrastructure and focus on rural communities in countries like India and China.

Key players: Key players operating in the mobile health vehicle market are Ecolab Inc., Novozymes A/S, Reckitt Benckiser Group PLC, Church & Dwight Co., Inc., The Clorox Company. They provide varied service offerings ranging from general checkups to emergency care through networked fleets across countries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it