The global mHealth Apps market is predicted to reach USD 240.65 billion by 2027 and is anticipated to expand at a compound annual growth rate (CAGR) of 43.9% during the forecast period 2020 to 2027.
The significant increase in health awareness across the global population as well as the growing promotion of mHealth applications has led to generate significant demand for mHealth applications. On the other hand, increasing mobile users and respective wireless infrastructure across the globe has further improved the demand for mHealth applications. The mobile users and wearable device users across the developing Asian countries have shown significant growth over the last decade, this will further assist in mHealth applications market growth.
In addition to this, the traditional healthcare service provision practices have been replaced with the patient-centric modules. Moreover, the assistance from local governments and upsurging support from international healthcare institutes such as WHO will further complement the growth of mHealth applications market. In complementary to this, increasing technological advancements and introduction to highly updated healthcare modules has improved the demand for mHealth apps.
Recently, the trend for wearable devices from many top brands like Fitbit, Apple, Sony, and many others has further complemented the growth of mHealth applications. In addition to this, growing wearable tech startups and growing recommendations from the physicians in using wearable devices will further increase the growth of the mHealth apps market. Moreover, the numbers of startups are working on developing further advanced products and applications to attain a competitive edge in the market.
Based on the type of mHealth applications, the market is majorly bifurcated into nutrition & diet, women's health, medication adherence, fitness, lifestyle management, healthcare, providers/payers, disease management, and others. Some of the applications offer several services mentioned above and some of the specialty applications are concentrated towards specific services such as fitness or healthcare. Recently the demand for fitness based mHealth applications has shown the highest demand across the globe concerning the growing health consciousness across the global population.
On the other hand, the rise in unhealthier habits and busy lifestyles have led to generating more demand for online healthcare services for reducing stigma around mental illness, which has resulted in increasing the demand for self-care and lifestyle management based mHealth applications. However, the demand from fitness apps will be shifted towards areas such as diet and nutrition information, women's health, and medication reminder since the service the concentration of service providers is transferring towards the self-care applications.
In addition to this, the ongoing COVID 19 pandemic has drastically improved the demand for providers/payers, disease management based mHealth applications. The current pandemic will generate furthermore opportunities in the mHealth applications market and it will lead to an introduction to technologically advanced and newer technologies over the forecasted period. The COVID pandemic has also led to an upsurge in the demand for online treatments and medication schedules to minimize the risks of getting infected.
Based on the regional segmentation, the global mHealth applications market is bifurcated into North America, Europe, Asia Pacific, and the rest of the world. Out of which, the North American mHealth apps market will dominate the global market concerning technological advances and strong healthcare infrastructure. The growth of mHealth applications will also depend on the economical factors such as income levels across the respective region. Thus, regions such as North America and Europe with comparatively higher income levels will show a higher adoption rate. In contrary to this, the South African and Middle Eastern countries will show less adoption will respect to minimal income levels across the respective region.
On the other hand, the Asia Pacific being comparatively untapped is anticipated to generated lucrative growth over the forecasted period. The mobile and internet traffic across the region has been increasing drastically; in complementary to this, the Asian countries are creating the highest demand for connected devices over the past few years. In addition to this, many Asian countries are adopting highly advanced digital health strategies to manage healthcare delivery and provide customer-centric healthcare support. For instance, India’s Digital India movement aims to incorporate IT services in numerous industries to provide better growth opportunities. Thus, these initiatives and untapped demand will lead to generating the highest growth in the Asia Pacific region over the forecasted period.
However, the COVID19 pandemic has drastically affected the market dynamics, since the majority of the leading markets like Europe, North America, and some of the Asian countries are significantly impacted by the ongoing pandemic. Although, this pandemic has some positive effects on the mHealth apps market since the patients as well as healthcare service providers across the globe are favoring remote health-based services with the help of online treatment and medication schedules.
Key Companies & Market Share Insights
At present, health insurance companies (HIC) have started to gather major market chunk in this sector. Maximum numbers of market participants are assuming that patient will be eager share their health data with companies in return for an economical plan, health endorsements and research aims. Some of the significant players in the mHealth Apps market include:
Segments Covered in the Report
This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027. This research study analyzes the market thoroughly by classifying global mHealth Apps market report based on different parameters including type and region:
By Regional Outlook
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