Mobile Health Vehicle Market Is Estimated To Witness High Growth Owing To Opportunity Of Improving Healthcare Access In Remote Areas
Mobile health vehicles provide essential healthcare services such as diagnosis, treatment, essential medicines in remote areas where access to regular healthcare facilities is difficult. Mobile health vehicles are self-contained units capable of delivering basic healthcare, diagnostic, and emergency services. They are equipped with essential medical equipment such as examination tables, diagnostic devices, medicines, and trained medical personnel to offer services such as general checkup, diagnosis of common illnesses, first aid, sample collection, basic laboratory testing, medicines and so on. Mobile health vehicles play a crucial role in improving healthcare access for people living in remote, rural and underserved areas.
The global Mobile Health Vehicle Market is estimated to be valued at Us$ 244.07 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 Opportunity:
Providing healthcare access in remote areas presents a major market opportunity for mobile health vehicles. It is estimated that over 60 million people in the US alone live in areas without reasonable access to regular healthcare facilities. Similarly in developing nations, a sizable rural population still lacks convenient access to basic healthcare due to scattered settlements and lack of infrastructure. Mobile health vehicles can play a key role in bridging this healthcare access gap for underserved populations globally. They provide a cost-effective and convenient solution to deliver essential diagnostic and medical services at the doorstep. This is expected to significantly boost the demand for mobile health vehicles over the forecast period.
Porter's Analysis
- Threat of new entrants: Low as there are high initial setup and operational costs involved in establishing Mobile Health Vehicles. Existing players already have strong brand names and customer loyalty.
- Bargaining power of buyers: Moderate as buyers can choose from various established brands however switching cost for buyers is low.
- Bargaining power of suppliers: Low as suppliers depend heavily on sales to major Mobile Health Vehicle manufacturers.
- Threat of new substitutes: Low as Mobile Health Vehicles offer unique mobility and access to remote areas with no close substitute available.
- Competitive rivalry: High as the market is dominated by few large players.
SWOT Analysis
Strengths: Mobile Health Vehicles enable improved healthcare access in remote and rural areas. They offer preventive, promotional and curative services closer to communities.
Weaknesses: High operational costs and requirement of specialized staff. Dependence on funding agencies for sustainability.
Opportunities: Growing focus on universal healthcare coverage globally presents opportunities. Rising non-communicable and lifestyle diseases increase demand.
Threats: Changing regulations and policies. Shortage of skills human resources in remote areas.
Key Takeaways
The Global Mobile Health Vehicle Market Size is expected to witness high growth.
Regional analysis:
Asia Pacific region dominates the global Mobile Health Vehicle market and is expected to grow at the highest CAGR during the forecast period. This is attributed to factors such as rising healthcare awareness, increasing healthcare investments, growing burden of diseases, and expansion of healthcare access in rural regions in countries such as India and China.
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, Kikkoman Corporation, Spartan Chemical Company, Inc., Diversey, Inc., Johnson & Johnson, Danaher Corporation, Henkel AG & Co. KGaA, Procter & Gamble Co., DuPont de Nemours, Inc., Colgate-Palmolive Company, and Biokleen.
Get more insights on this topic :