July 24, 2024

Mobile Health Vehicle Market Is Driven By Increasing Healthcare Expenditure

Mobile health vehicles deliver primary healthcare services at the doorstep and provide medical services to economically backward populations in remote areas. These customized vehicles are equipped with basic medical equipment and diagnostic tools to provide primary care consultations, sample collection, basic surgical procedures, dental care, preventive care, and health screenings. Mobile health vehicles help increase access to basic healthcare services in areas where permanent healthcare infrastructure is not available. The government plays an important role in deploying mobile health vehicles through public-private partnerships to ensure last-mile healthcare delivery. These vehicles have been effective in screening, diagnosis, treatment of chronic and infectious diseases, and health promotional activities.

The global Mobile Health Vehicle Market is estimated to be valued at Us$ 244.07 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 increasing government focus on providing universal healthcare through initiatives like ‘Health for All’ is a major market trend. Various countries are supporting the deployment of mobile healthcare units in rural and remote regions to improve health outcomes. Technological advancements are also fueling the market growth, with mobile health vehicles being equipped with telemedicine capabilities, IoT-enabled monitoring devices, and digital health records for remote diagnostics and consultations. Partnerships between private medical service providers, NGOs, and local administrations have helped scale up the outreach of mobile healthcare services. However, lack of standardized operations and inadequate integration with the existing healthcare system pose challenges.

 

Porter’s Analysis

Threat of new entrants: Low-moderate. Capital investment for starting a mobile health vehicle service is high due to specialized vehicles and equipment required. Regulations also create entry barriers.

Bargaining power of buyers: Moderate. Cost of switching between mobile health service providers is low. However, individual customers have less influence over pricing due to inelastic demand for healthcare services.

Bargaining power of suppliers: Low. Mobile health vehicles require standardized parts and supplies available from multiple suppliers globally. Suppliers have limited influence over pricing.

Threat of new substitutes: Low. No products can easily substitute the mobile healthcare services provided in remote areas with specialized vehicles and equipment.

Competitive rivalry: High. The mobile health vehicle market sees intense competition with many regional and global players. Companies compete based on technology, service quality, and pricing.

Key Takeaways

The Global Mobile Health Vehicle Market Size is expected to witness high growth.

 

Regional analysis:

 

North America accounts for the largest share of the global mobile health vehicle market currently. However, Asia Pacific is expected to witness the highest CAGR during the forecast period supported by rising healthcare infrastructure development and demand in countries such as 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, Kikkoman Corporation, Spartan Chemical Company, Inc. These companies are focusing on developing innovative vehicle designs and technology integration to strengthen their market position.

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