mHealth Apps Market Assessment Covering Growth Factors and Upcoming Trends & Forecast

Author : univdatos
Publish Date : 2021-06-03 15:39:18
mHealth Apps Market Assessment Covering Growth Factors and Upcoming Trends & Forecast

Research report presented by UnivDatos, Emphasis on Category [Disease and Treatment Management (Healthcare Providers/Insurance, Medication Reminder & Info, Women Health/Pregnancy, Disease specific), Wellness Management (Fitness, Lifestyle & Stress, Diet & Nutrition), Others], Services (Monitoring Services, Fitness Solutions, Diagnostic, Treatment, Others), Operating System (Google Play Store, Apple App Store, Others), Technology (AI-enabled, Non-AI enabled), and Geographical analysis (key regions and countries).

As per the research report, Global mHealth Apps Market is expected to reach the market valuation of US$ 315.4 billion by 2027 expanding at a reasonable CAGR of 44.4% during the forecast period (2021-2027) from US$ 16.8 billion in 2019. Mobile Health Application is one of the most powerful health tools. The advancements and awareness in the health care sector such as the adoption of smart wearables, keep track of daily activities, etc. have added growth to the market of mobile health applications. Moreover, other advancements such as smartphones being used as diagnostic devices, etc. are leading to the growing number of healthcare applications. In a study, it was revealed that over 100,000 health applications are available for download on several platforms such as android, iOS, etc., and this number is expected to proliferate exponentially as technology and healthcare continue to develop side by side. Moreover, the adoption and use of mobile health applications by the healthcare service provider such as clinics, hospitals, diagnostics labs, etc., for several purposes such as collecting accurate clinical history, recording objective patient parameters, supporting the decision-making process, help in communication with patients, educating patients, and monitoring treatment adherence are leading to the growth of the market.

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A rise in internet penetration coupled with smartphone adoption is one of the factors which the majorly contributing to the growth of the mobile health application market. As per a report by Datareportal, Internet users are currently growing at an annualized rate of more than 7%, equating to an average of more than 875,000 new users each day and around 60% of the global population have internet access. Also, around 48.53% of the global population have a smartphone as of 2020. Earlier in the year 2016, the percentage of people who have smartphones was 33.58%. The availability of smartphones at an affordable price is adding pace to the market growth. As per IDC, the smartphone shipments in Q4 2020 grew 2.4%. However, it is expected that smartphone shipments would increase by 4.4% in 2021.

Furthermore, a rise in the geriatric population, adoption of a sedentary lifestyle among millenniums globally is resulting in the emergence of several chronic diseases. Also, the busy and hectic lifestyle coupe with the several benefits of mobile health applications such as time and money savings, easy access to doctors, etc. are leading to greater adoption of the applications. Therefore, the market is witnessing an uptick.

AgaMatrixInc., AirStrip Technologies, Omron Corporation, Withings, Biotelemetry, Inc., Telefonica, AliveCor, Inc., Pfizer, Inc, Merck and Co., Inc, and Sanofi are some of the prominent players operating in the global mHealth Apps Market. Several M&A’s along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst category, Wellness management segment holds the major share”

Based on the category, the market is fragmented into disease and treatment management, wellness management, and others. Wellness management dominated the market with a share of 62.6% in 2019 and is expected to maintain its dominance during the forecast period owing to the end-users’ awareness about the benefits of wellbeing and the rising prevalence of several communicable and non-communicable diseases.

“Amongst wellness management, fitness segment is anticipated to dominate the market during the analyzed period”

Furthermore, the wellness management market is mainly bifurcated into fitness, lifestyle and stress, and diet & nutrition. In 2019, the fitness sub-segment accounted for a maximum market revenue share of 55.2% and is expected to remain dominant during the analyzed period owing to the increasing millennium’s inclinations towards health and fitness. However, the diet & nutrition segment is anticipated to grow at a substantial CAGR over the forecast period.

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“Amongst disease and treatment management type, the disease-specific segment dominated the market during the forecast period”

Based on disease and treatment management type, the market is mainly fragmented into healthcare providers/insurance, medication reminder, women health/pregnancy, and disease-specific. In 2019, the disease-specific segment accounted for a maximum market revenue share of 50% and is expected to remain dominant during the analyzed period. However, Medication Reminder & Info segment is forecasted to witness the highest CAGR during the forthcoming years.

“Amongst services, monitoring services segment holds the major share”

Based on services, the market is bifurcated into monitoring services, fitness solutions, diagnostic services, treatment services, and others (health practitioner support, administration, prevention). In 2019, the monitoring services segment accounted for the maximum market share with 65% and is expected to be the leading segment of the mobile health application market during the forecast period due to the launch of health monitoring applications by the prominent players and adoption among end-users owing to its benefits.

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“Amongst the operating system type, google play store segment dominated the market during the forecast period”

Based on the operating system type, the market is mainly disintegrated into the google play store, apple app store, and others. In 2019, the google play store segment accounted for a maximum market revenue share of 61.2% and is expected to remain dominant during the analyzed period owing to the availability of android phones at a reasonable price.

“North America represents one of the largest markets of mHealth Apps market”

For a better understanding of the market dynamics of the mobile health application market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and Rest of APAC), and Rest of the World. North America dominated the market and generated revenue of US$ 4.7 billion in 2019 owing to the high prevalence rate of chronic disease, adoption of smartphones, and the increasing seed surging to the m-health application startups in the region.

Customization Options:

The mHealth Apps Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.



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