The new report by Expert Market Research titled, ‘Global mHealth Apps Market Size, Share, Price Trends, Demand, Growth, Industry Analysis, Report and Forecast 2020-2025’, gives an in-depth analysis of the global mobile Health App market, assessing the market based on its segments types and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2015-2025)
1. Historical Market Size (2019): USD 18.3 billion
2. Forecast CAGR (2020-2025): 44.9%
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The global mHealth apps market is being driven by the increased penetration of smartphones and the internet across the globe. With increasing access to technology fuelled by innovations and advancements, the demand for easy to use services are increasing, which has led to the emergence of mHealth apps. These apps let patients connect with their doctors instantly. Thus, by providing instant access to health information easily in an inexpensive manner, these apps have been growing over the last few years. mHealth apps bring counsellors and therapies right at one’s fingertips. With attending sessions becoming easier via these apps, attracting more users on these platforms, the market has been witnessing a further boost. mHealth apps keep the user information on the cloud, making data access faster and mobile. Thus, the increased adoption of smart technology and the ease of use of the product is expected to lead to an increase in the usage of such apps.
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Industry Definition and Major Segments
mHealth apps are health application programmes that provide health related services via smartphones, tablets, or computers/Laptops. It uses technology to provide health care services. These services are a part of mobile health (mHealth) programmes, which bring medical care to patients at the comfort of their homes on their devices, to be accessed wherever and whenever they want.
Based on the segment types, mHealth apps can be divided into the following categories:
2. Disease Management
3. Women’s Health
4. Lifestyle Management
5. Nutrition and Diet
6. Healthcare Providers/Payers
7. Medication Adherence
With the increased use of such services by patients and more participation by doctors, investments have been increased in these apps. Health awareness is increasing among millennials, and these apps will cater to that demand. The world population is increasing, and so are the number of healthcare professionals. Not all interactions need a physical presence. These inexpensive, easy to use apps are being prescribed by hospitals to ease pressure on their doctors to visit each patient individually. As the records are digitised and kept on the cloud, they can be pulled up anytime for easy reference. Patients are noticing the difference these apps are bringing in their lives, be it reminding them for timely medicines or checkups by their doctors or just having a discussion with their doctors. With this industry witnessing a rapid growth, health-focused startups have sprung up, each having a unique selling point. Innovations in healthcare are discovered every day, and the mHealth companies are trying to incorporate them within their services for a more holistic approach. These trends are expected to influence the industry growth positively in the coming years. The rising demand for healthcare professionals, especially for the duration of the COVID-19 pandemic, is further expected to shift patients towards these mHealth apps in the forecast market.
Key Market Players
The major players in the market are Sanofi S.A., Johnson and Johnson, Pfizer Inc., Merck & Co. Inc. GlaxoSmithKline PLC, Bristol-Myers Squibb, Novartis International AG, F. Hoffmann-La Roche AG, and AstraZeneca PLS, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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