The global mHealth apps market size was worth USD 38.2 billion in 2021 and is predicted to rise at a CAGR of 11.8 percent from 2022 to 2028. The market is expected to be driven by the growing usage of fitness and medical applications to gather and track individuals’ health-related data and to improve the overall health of patients using smartphones. Furthermore, rising internet and smartphone penetration, as well as increased awareness of the importance of preserving physical health and improving one’s lifestyle, are all contributing to market growth.
Furthermore, rising government and commercial sector encouragement of health app adoption due to the benefits provided by these apps in monitoring and improving health conditions and lifestyle is likely to accelerate app adoption over time. Furthermore, the expanding number of health applications and developers’ constant development of app quality are expected to propel the mHealth industry forward. According to IQVIA figures cited in a Medical Device Network article from 2021, there are more than 350,000 digital health applications available on app stores.
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The increased interest among users in using health apps to manage chronic diseases is projected to boost the adoption of mobile health apps. Another reason expected to promote mHealth app adoption is an increase in healthcare experts’ suggestions to employ mobile applications for better patient care. According to data published in OrthoLive, 93 percent of healthcare experts believe that mobile health apps can improve patients’ health. This type of attitude among healthcare professionals toward mobile health apps is expected to fuel mHealth app adoption in the coming years.
Furthermore, a surge in mobile subscriptions and increasing internet penetration around the world are assisting in the adoption of health applications. According to a survey issued by Ericsson in 2020, the number of mobile subscriptions exceeded six billion, and this number is expected to rise in the coming years. In addition, the increasing usage of social media and increased app promotions are projected to drive the mHealth market forward in the next years. According to the DataReportal 2021 data, there will be roughly 4.55 billion social media users by October 2021, accounting for 57.6% of the global population.
During the COVID-19 epidemic, there was also a growth in the use of mobile health applications. During the COVID-19 epidemic, the government and non-profit groups advocated the use of mobile health apps for training, self-management of symptoms, information exchange, contact tracing, risk assessment, home monitoring, and decision making. According to statistics published in the journal Expert Review of Pharmacoeconomics and Outcomes Research, mobile health app downloads will increase by 65 percent by 2020.
The Report’s Covered Segments
From 2016 through 2030, this research anticipates revenue growth at the global, regional, and country levels, as well as an analysis of the most recent industry trends in each of the sub-segments. Zion Market Research, Inc. has segmented the worldwide mHealth applications market research based on product type, application, and geography for this study:
Product Type Outlook
• Disease & Treatment Management
• Wellness Management
• Lifestyle Management
• Nutrition & Diet
• Women’s Health
• Medication Adherence
• Healthcare Providers/ Payors
• Monitoring Services
• Fitness Solutions
• Diagnostic Services
• Treatment Services
• Education & Awareness
North America dominated the mHealth market in 2021, with a revenue share of 38.2 percent. Several factors are driving the growth of the mHealth apps market in this area, including increased awareness among individuals to use mobile health apps, advances in coverage networks, rapid growth in smartphone usage, rise in senior population, and rising prevalence of chronic diseases. Furthermore, increased promotion of medical health applications by healthcare experts in the United States is leading to their acceptance in this region.
Insights into Key Companies and Market Share
The growing acceptance and uptake of mHealth apps by healthcare professionals and patients fosters a competitive climate among industry participants. In addition, the main players’ core tactics of mergers, collaborations, and acquisitions are predicted to boost market expansion and fuel competition. For example, Abbott Laboratories established a partnership with Omada Health in October 2019 to use the mhealth coaching platform to manage diabetes treatment. As a result, the main companies’ developments are expected to drive the mHealth market’s growth over the forecast years. To maintain their dominant position in the industry, the major players are focusing on producing cost-effective healthcare mobile applications that meet the needs of consumers. The following are some of the major players in the mhealth app market:
● Teladoc Health Inc
● AstraZeneca PLC
● Abbott Laboratories
● Johnson and Johnson
● Bristol-Myers Squibb Company
● Novartis AG
● F. Hoffmann-La Roche Ltd
● Merck and Co Inc
● Pfizer Inc
● GlaxoSmithKline plc
● Samsung Electronics Co Ltd
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Furthermore, mobile healthcare applications’ data security and privacy concerns are projected to be important roadblocks to the market’s growth. Access to sensitive information, hacking challenges, data breaches, and the automatic installation of hazardous programmes are all expected to stymie market expansion. In addition, one of the primary factors expected to slow the market’s growth is decreased regulatory approval for mHealth applications. According to the medical economics report, only 219 mobile health applications were approved by the FDA by 2018.
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