The latest niche market study “Global mHealth Market Drivers, Restraints, Potential Growth Opportunities, Vendor Competitive Landscape, Trends and Forecast 2018-2025” published at AdroitMarketResearch.com
The global mHealth market size was valued at $ xx billion in 2015 and is expected to reach $ xx billion with a CAGR of xx% over the forecast period. Currently, mobile technology has developed across the world. Integration of mobile technology into healthcare services helps to manage customer’s day to day tasks efficiently. To reduce the bridge between patients and healthcare professionals, mobile connectivity plays a major role. Increase in the utilization of mobile devices and smartphones is leading the global mHealth market.
Some studies suggest that about 80% of physicians use mobile healthcare applications (mhealth). Moreover, 93% of these physicians are certain that mhealth apps can positively impact their patients’ health. This has tremendously increased the scope for the US mhealth market. This promising market is all set to change the way our daily health affects and benefits us.
mHealth or Mobile health refers to use of public health services and medicine by using smartphones. mHealth has the potential to expand the health care system by improving communication, efficiency, quality and costs of healthcare services. mHealth helps in reducing the expenses of healthcare that limits visits to hospitals and readmissions. Mobile health services provide programs for remote monitoring, chronic conditions, patient data, e-prescriptions, electronic records and even include wellness and fitness applications. For monitoring data and health of patients, mobile devices can be used conveniently which will upsurge the growth of the global mHealth industry.
Traditionally, no applications like mHealth were available to track day to day health and fitness related activities. However, in 2016, the main cause of death was diseases of heart with 165.5 deaths per 1,00,000 populations in the United States. So to reduce the risk of health, various healthcare applications with different functionalities were made available for healthcare professionals and consumers. Amongst the health-related apps, most commonly used are applications concerning fitness, nutrition & diet, stress & lifestyle and weather. These applications help people focus on diets, give suggestions on diet, healthy living & nutrition and track fitness motive. Many of these applications are free to download which are used by every individual. Rise in awareness for health amongst people will help in increasing mHealth market size globally.
There are various mobile medical applications developed and available in the market to avoid the risk of health. By developing different applications, many companies are contributing towards making people aware of their health. From 2015, Apple app store and Google Play have developed number of medical apps till the prime quarter of 2018. As per the previous measured period, there were 47,911 iOS healthcare applications which represent an increase of 0.48%. Whereas Google Play has almost 51,133 healthcare apps available, representing upsurge of 5.7% over the prior quarter. Rising demand for the health-related applications will contribute to scaling up the global mHealth market share.
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Companies involved in developing mHealth apps did a need-based assessment through surveys and personal interview to design apps that perfectly suited consumer’s demands. In this assessment helped develop apps for tracking illness, health emergencies and self–diagnosis. Nowadays, use of these applications is helping boost the growth of the mHealth market across the globe.
Period tracking apps are extremely popular among urban women. It helps in tracking period to identify the irregularity in menstrual cycle, keep track of symptoms and monitor the monthly overall menstrual activity. This period tracking apps helps in recognizing the fertile phase if women are avoiding or trying to become pregnant. The most commonly used apps for tracking period are the period calendar, Flo period tracker, clue, my calendar and many more. Increase in demand for these apps is also expanding the global mHealth market size.
Geographically, the mHealth market is well penetrated in Latin America, Asia Pacific, Europe, Middle East & Africa, and North America. North America holds the largest share of the global mHealth industry whereas Asia and Europe are expected to experience a significant growth due to advancements in health technology. Moreover, the mHealth market in the Asia Pacific estimated to grow at a highest CAGR amongst other regions. The main factors to drive the growth of the global mHealth market share in the Asia Pacific are an aging population, increasing disposable income and increase in chronic disorders.
Key players involved in the mHealth industry are Apple Inc., Omada Health, Inc., FitBit, Inc., Proteus Digital Health, Livongo Health, Propeller Health, Canary Health, Twine Health, Inc., Mango Health, BiogeniQ Inc., Glooko, Inc., Firstbeat Technologies Ltd., Claritas MindSciences, Dthera Sciences, Big Health, Virta Health Corp and more.
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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