The Global mHealth Applications Market size is estimated to reach USD 100 billion by 2023, says Market Research Future (MRFR). In 2016, Europe accounted for the largest market share of a 31.7%. North America mHealth applications market share is expected to reach USD 28762.1 million and APAC market will grow at a CAGR of 33.7% by 2023.
The global mHealth applications market is expected to witness significant growth owing to rising demand for mHealth technology in healthcare monitoring, diagnosis, treatment, and other applications. The increasing demand for remote monitoring and efficient data storage in the healthcare sector has been the major driver for the global mHealth applications market over the historical review period. With the increasing demand for homecare and telehealth services, the global mHealth applications market is likely to grow at a robust growth rate over the forecast period.
The development in cellular communication technology over the last few years has been a major driver for the mHealth applications market. With the robust development of mobile communications technology, more advanced mHealth solutions have been introduced in the healthcare sector over the last few years. Video calling and VoIP (voice over Internet protocol) services have further enhanced the functionality of mHealth applications. The increasing demand for video calling and VoIP services in telehealth is likely to be a major driver for the global mHealth applications market over the forecast period. Advanced communications technology such as 5G telecommunication, Wi-Fi, and Bluetooth has become commonplace in developed countries, enabling rapid enhancement of mHealth applications. The increasing demand for telehealth and remote monitoring in the coming years is likely to be a major driver for the global mHealth applications market over the forecast period.
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Increasing government support to telehealth operations is also likely to be a key driver for the global mHealth applications market. Due to the benefits it provides in terms of enabling widespread access to healthcare solutions, governments all over the world are encouraging further development of mHealth solutions and technology. Governments are also becoming increasingly active in terms of supporting the development of telecommunications infrastructure, which is also likely to be a key driver for the mHealth applications market over the forecast period.
Leading players in the global mHealth applications market include iHealth Labs Inc., Vivify Health, Medtronic MiniMed Inc., Honeywell International Inc., Apple Inc., Agamatrix Inc., and Allscripts. Major players in the global mHealth applications market are likely to focus on product development in the coming years, as leading players look to come up with promising solutions in all the niches of the mHealth applications market. Growing government support to telehealth solutions is likely to further drive product development in the mHealth applications market in the coming years.
In September 2019, the American Medical Association (AMA) announced that its 2020 CPT codes would include new additions to support remote patient monitoring and telehealth services.
In September 2019, Sam’s Club announced the addition of telehealth to its bundled healthcare services.
The global mHealth applications market is segmented by type into
- Monitoring Applications
- Healthcare Management
The monitoring applications segment held a dominant 53.8% share in the global mHealth applications market in 2016. Monitoring applications are likely to hold on to a major share in the global mHealth applications market over the forecast period due to the growing demand for remote monitoring and homecare in the healthcare sector. Developments in the field of the Internet of Things have allowed the development of strong medical sensor devices that can monitor several variables and provide reliable, quick updates, allowing rapid and decisive decision making in the case of emergencies.
Europe is the largest regional market for mHealth applications, followed by Asia Pacific. North America follows Asia Pacific at a slight distance but is a major hub for technological developments in mHealth applications, as the presence of major telecommunications and medical industry players enables strong growth of the mHealth applications market in the region. Strong government support has enabled rapid progress of the mHealth applications market in Europe, which held a 31.7% share in the global mHealth applications market in 2016.
Table of Content:
1 Report Prologue
- Scope Of Study
- Research Objective
- Assumptions & Limitations
3 Research Methodology
- Research Process
- Primary Research
- Secondary Research
4 Market Dynamics
- Innovation And Rapidly Changing Technology
- Adoption And Involvement Of Patient
- Cost Effectiveness And Convenience
- Increasing Prevalence Of Lifestyle Diseases
- Security And Confidentiality Of Data
- Resistance To Change
- Market Volatility
- Emerging Economies
- Partnership As An Entry Strategy
- Lack Of Knowledge And Language Barriers In Low-And Middle-Income Countries (LMICS)
5 Market Factor Analysis
Porters Five Forces Analysis
- Bargaining Power Of Suppliers
- Bargaining Power Of Buyers
- Threat Of New Entrants
- Threat Of Substitutes
- Intensity Of Rivalry
Value Chain Analysis
- MHealth Device Manufacturers
- App And Software Providers
- Network Providers/ Mobile Operators
- Healthcare Providers / Medical Professional
6 Global mHealth Applications Market, By Type
7 Global mHealth Market, By Region
8 Competitive Landscape
9 Company Profile
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