JULY 09, 2019: The global mHealth apps market size is expected to reach USD 236.0 billion by 2026, according to a new report by Radiant Insights, Inc. It is projected to expand at a CAGR of 44.7% during the forecast period. The market is majorly driven by increasing adoption of advanced technologies in healthcare facilities and the need to reduce long waiting periods to access healthcare facilities from specialists. Availability of mobile applications for users is witnessing a rapid growth, especially healthcare apps that assist consumers in self-management of disease, wellness, and chronic conditions. This increased role of patients coupled with the rising importance in staying updated and informed about their own healthcare decisions, contributing to the rise in adoption of mHealth apps globally.
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Healthcare industry has been transitioning towards a value-based care model with mHealth becoming a widespread trend owing to the advent of technologies such as remote monitoring, electronic medical record, and other communication platforms. The increasing prevalence of disorders, such as diabetes, hypertension, cancer, and obesity along with the growing awareness about wellness and other preventive measures diseases among patients is expected to boost the mHealth market growth.
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mHealth leverages from the 4Ps: personalized, predictive, participatory, and preventive measures for care delivery to provide optimal care to users. Moreover, rising penetration of smartphones, and other electronic devices, especially, in low- and middle-income countries and increasing focus on the use of mobile technology to manage care delivery is anticipated to benefit the market.
Further key findings from the report suggest:
• Rapid growth in chronic diseases along with the rise in the number of app users is accountable for the mHealth apps market growth
• The types of mHealth apps include fitness, lifestyle management, nutrition and diet, women’s health, medication adherence, healthcare providers, and disease management. Of these, the fitness category accounted for the majority of segment share in 2018
• mHealth app vendors are focusing their attention on women’s health, diet, and medication reminders. According to Wired, a mobile advertising and analytics platform, women are more inclined toward tracking their health than men
• Physicians are increasingly recommending the use of mHealth apps to their patients, which is likely to increase the adoption rate of mHealth apps
• North America led the mhealth applications market in 2018 in terms of revenue share pertaining to the technological advancements and presence of major players in the region
• Some of the key players are Johnson & Johnson; Abbott Laboratories; AstraZeneca; Bristol-Myers Squibb Company; F. Hoffmann-La Roche Ltd; Novartis AG; GlaxoSmithKline plc; Merck and Co., Inc.; Pfizer; and Sanofi
Table of Contents
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Type
1.1.2 End Use
1.1.3 Regional Scope
1.1.4 Estimates and Forecast Timeline
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.2.1 Type
2.2.2 REGION
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Penetration & Growth Prospect Mapping
3.2.1 Penetration Analysis
3.2.2 Market driver analysis
Continued…
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