Penetration of Mobile Phones to Augment the Global mHealth Applications Market During the Forecast Period (2017-2023)
Market Scenario
The global mHealth applications market is presumed to project a healthy growth during the forecast period (2017-2023) owing to the penetration of mobile phones in the healthcare industry, asserts Market Research Future (MRFR). The mobile health application or mHealth application market has developed into a vivid ecosystem. With the high adoption of mobile in the healthcare industry, the business for mHealth applications is expanding. The fast-paced digital industry and the slow-paced healthcare industry continues to collide, thus bringing disruptive change to the global market. mHealth assists to maintain and check the health-related activities by using Wi-Fi, mobile network, and Bluetooth.
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Drivers and Constraints Impacting the Market
After the evolution of the term eHealth, it is the era of mHealth and is commonly known as mobile health. With technology transforming the entire world, digital innovation and technological advancements are taking the healthcare industry to the next level. Use of mobile and mHealth devices is expanding at a tremendous rate which is further contributing to the growth of the mHealth applications market. Technology acts as the major driver behind the growth of the market. With continuous innovation and advancements in the medical sector, the market is likely to flourish. Moreover, technological advancements are offering better healthcare solutions which are likely to transform the medical sector in the coming years. Additionally, convenience and low cost of medical devices, integration of wireless technology, government initiatives, and affordability of smartphones are contributing the growth of the market.
On the flip side, factors such as confidentiality and security threats coupled with market volatility and resistance to change are some of the major concerns considered to retard the market growth during the assessment period. Moreover, nascent technology in the underdeveloped regions, lack of technological awareness among the geriatric population, and limited reimbursement coverage are impeding the market growth across the globe.
Global mHealth Applications Market: Segmental Analysis
The Global mHealth Applications Market has been segmented on the basis of type and region.
By mode of type, the global mHealth applications market has been segmented into diagnosis & treatment, monitoring applications, healthcare management, education & awareness, wellness & prevention, and others. Among these, the healthcare management accounts for the largest market share owing to the rising number of people using smartphones. Also, growing need for tracking daily activities, rising preference for personal health and wellness app, and health conditions of patients are some of the factors attributing to the growth of the segment during the review period.
Regional Insights
Geographically, mHealth applications market span across regions namely, Asia Pacific, Europe, North America, and the Middle East and Africa.
Among all the regions, Europe held the largest market share with 31.7 % in 2016. North America is estimated to garner USD 28762.1 million by the end of the review period owing to the high expenditure on healthcare, the high adoption rate of latest technologies, initiatives by the government, and rising funding by the public and private organizations.
Asia Pacific is considered to be the fastest-growing and second-largest market. The growth is mainly attributed to the rising prevalence of chronic diseases, growing disposable income, and increasing geriatric population in this region.
Industry Updates
November 19, 2018: During the Penn State’s mHealth Challenge, ten intercollege teams of enterprising students had recently pitched ideas for innovative mobile health applications. The challenge was a cross-college initiative in which student teams had to develop a mobile application prototype which addressed a societal health need associated with a specific target audience.
Competitive Dashboard
The prominent players operating the global mHealth applications market are Vivify Health (US), Agamatrix, Inc. (US), Apple Inc. (US), Honeywell International Inc. (US), Allscripts (US), iHealth Labs Inc (US), and Medtronic MiniMed Inc. (US).
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