mHealth Applications Market- Scope
As per Market Research Future (MRFR), the global mHealth applications market is expected to reach USD 100.2 billion from 2017 to 2023 (forecast period).
mHealth is one of the most advanced and disruptive trends in the healthcare sector that has been expanding at an exceptional rate over the last few years. mHealth changes the way traditional medical practices take place and creates a path for the future of healthcare. mHealth helps to track and manage health-related practices by using technologies such as Bluetooth, mobile network (GSM/ GPRS/3G/4 G), and Wi-Fi. Data collected by mHealth devices, such as mobile phones, tablets, laptops, and tablets, help medical professionals, consumers, and other users.
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mHealth Applications Market Dynamics
The global mHealth applications market is primarily driven by the increasing adoption of advanced technologies in healthcare sector and the need to reduce long waiting periods for specialists to access healthcare facilities. The availability of mobile applications for users is experiencing rapid growth, particularly in healthcare applications that help consumers manage their illnesses, well-being, and chronic conditions. This increased role of patients, coupled with the increasing importance of keeping up-to-date information about their own health decisions, has contributed to an increase in the global adoption of mHealth applications.
The healthcare industry has moved towards a value-based care model, with mHealth becoming a widespread trend due to the advent of technologies such as remote monitoring, electronic medical records, and other communication platforms. The rising prevalence of disorders such as diabetes, hypertension, cancer, and obesity, as well as raising awareness of wellness and other preventive measures among patients, are expected to fuel the growth of the mHealth application industry.
The introduction of wearable devices from Fitbit, Apple, and Xiaomi have a positive impact on the market. Market growth appears to be positive, with increasing investment in wearable technology start-ups. These start-ups focus on categories of mHealth, such as personal safety, women’s health, and hydration monitoring, which promise exciting market prospects.
mHealth Applications Market Segmentation
The global market for mHealth applications has been segmented based on type, which includes monitoring applications, education & awareness, healthcare management, diagnosis & treatment, wellness & prevention, and others. The monitoring application segment had the largest market share of approximately 53.8% in 2016.
mHealth Applications Market Regional Analysis
Region-wise, the global mHealth applications market has been segmented into Europe, North America, Asia Pacific, and Middle East & Africa.
In 2016, Europe had the highest market share of 31.7% in the global market for mHealth applications, taking into account the regional market scenario.
The Asia Pacific is the second-largest and fastest-growing market in the global market for mHealth applications. APAC is forecast to rise at 33.7% CAGR in 2017-2023. Many Asian countries are adopting digital health strategies to manage healthcare delivery and deliver better outcomes. For example, the Digital India program aims to improve IT services to empower healthcare professionals. These initiatives are expected to make the Asia Pacific the fastest-growing segment in the forecast period.
North America is one of the leaders in the field of mhealth and is only behind the APAC. North America is estimated to cross USD 28762.1 million by 2023.
The Middle East and Africa were valued at USD 1334.9 in 2016 and is expected to rise at a steady pace over the forecast period.
mHealth Applications Market Key Players
Some of the significant players in this market are Apple Inc. (US), Allscripts (US), Honeywell International Inc. (US), Medtronic MiniMed, Inc. (US), Agamatrix, Inc. (US), Vivify Health (US) and iHealth Labs Inc. (US).
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