mHealth Apps Market Size Analysis, Future Growth Dynamics, Business Statistics, Sales Projection By 2023

mHealth Apps Market Size Analysis, Future Growth Dynamics, Business Statistics, Sales Projection By 2023

“mHealth Apps Market”
mHealth Apps Market Analysis By Key Players, Type (Diagnosis & Treatment, Monitoring Applications, Healthcare Management, Education & Awareness, Wellness & Prevention), Leading Companies and Future Outlook, Forecast To 2023

Market Analysis

The global mHealth Apps Market size is anticipated to reach USD 100.2 billion with Expanding at a notable CAGR over the forecast period (2017-2023). mHealth or mobile health is the practice of public health and medicine that is supported by mobile devices, including tablets, mobile phones, wireless infrastructure, and personal digital assistants. Some of its common digital health applications include chronic disease management, telehealth/telemedicine, healthcare worker telecommunication as well as training, remote monitoring, remote data collection, healthcare supply chain management, epidemic outbreak and disease tracking, treatment and diagnostic support, and education and awareness.

Various factors are propelling the mHealth apps market growth. Some of these factors, according to the Market Research Future report, include growing adoption to track health and vital signs, growing penetration of mobile devices (smartphones, tablets, and other personal digital assistants), increasing use of wireless network devices, and growing adoption of advanced technologies in the healthcare facility.

Additional factors pushing mHealth apps market growth include the need to cut down long waiting periods for accessing healthcare facilities from experts, the introduction of various wearable devices from Xiaomi, Apple, and Fitbit, growing penetration of 3G network and 4G network, and multiple connectivity options such as Wi-Fi, and Bluetooth. Remote patient monitoring, prevention and treatment services, patient record keeping, and consultation are some of the benefits that are boosting the mHealth apps market growth.

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mHealth Apps Market Key Players:

Leading players profiled in the mHealth apps market report include iHealth Labs Inc. (US), Vivify Health (US), Medtronic MiniMed, Inc. (US), Honeywell International Inc. (US), Apple Inc. (US), Agamatrix, Inc. (US), and Allscripts (US), among others. The market is fragmented and highly competitive. Well established players have incorporated various strategies such as product launch, expansion, partnership, collaboration, and acquisition for maintaining their market position and gaining competitive advantage.

mHealth Apps Market Segmentation

The MRFR report offers a wide segmental analysis of the mHealth apps market on the basis of type.

Based on type, the mHealth apps market is segmented into wellness and prevention, healthcare management, education and awareness, diagnosis and treatment, monitoring applications, and others. Of these, the wellness and prevention segment will have the largest mHealth apps market share over the forecast period.

mHealth Apps Regional Insights

By region, the mHealth apps market report covers the latest trends and growth opportunities across North America, Europe, the Asia Pacific, and the Middle East and Africa. Of these, North America will spearhead the market over the forecast period. This is owing to the growing adoption to track health parameters, and government focus to reduce healthcare costs. The US and Canada are the leading contributors in this region owing to the presence of advanced healthcare systems, a growing number of chronic diseases including respiratory diseases, cancer, cardiovascular disorders, and diabetes, growing health awareness, and increasing adoption of mHealth apps.

The mHealth apps market in Europe is predicted to have the second-largest share in the market over the forecast period. This is due to rising penetration of mobile handsets, increasing focus on personalized/precision medicine production, developed healthcare infrastructure, and growing use of mHealth apps to track vital signs. Germany is the leading contributor in this region.

The mHealth apps market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is on account of the increasing prevalence of chronic diseases, large population base, need for reducing healthcare expenditure, rising healthcare expenditure, increasing lifestyle-related disorders such as arthritis, cardiovascular diseases, and diabetes, growing awareness regarding health disorders, and increasing disposable income.

The mHealth apps market in the Middle East and Africa is predicted to have slow growth over the forecast period. This is due to low awareness related to health and lack of advanced healthcare amenities. 

mHealth Apps Market Dynamics:

Drivers

  • Innovation and Rapidly Changing Technology
  • Adoption and Involvement Of Patient
  • Cost Effectiveness and Convenience
  • Increasing Prevalence Of Lifestyle Diseases

Restraints

  • Security and Confidentiality Of Data
  • Resistance to Change
  • Market Volatility

Opportunities

  • Emerging Economies
  • Partnership as An Entry Strategy
  • Challenges

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