Global mHealth Applications Market To Witness An Exponential Growth of 100.2 Billion USD in Revenues By 2023

“mHealth Applications Market”
The report covers the current scenario and the future growth prospects of the ‘mHealth Applications Market’ from 2018-2023. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The term mHealth / Mobile Health refers to the medicine and public health practice supported by mobile devices. It is most commonly used in reference with mobile communication devices, such as mobile phones, computers, tablet or PDAs, along with the wearable devices like smartwatches, which can be used for health services, information, and data collection. the Global mHealth Applications Market will grow to USD 100.2 billion by 2023, registering a phenomenal CAGR throughout the forecast period (2017 – 2023). 

mHealth can also be defined as a sub-segment of eHealth, which uses ICT (information and communication technology), such as communications satellite, patient monitors, etc. along with computers, and mobile phones, for health services and information. mHealth applications include collecting community and clinical health data using mobile devices, real-time monitoring of patient’s vital signs, and provision of care via mobile telemedicine.

This technology (mHealth) is one of the most disruptive trends ever occurred in the healthcare sector, that has changed the way of traditional medical practices and creating the path for the future of healthcare. Using technologies such as Bluetooth, mobile network (GSM/GPRS/3G/4G), and Wi-Fi, mHealth assists medical professional, consumers, and other users to check and maintain the health-related activity, allowing them to access the collected data.

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The Global mHealth Applications Market is growing with a rapid pace. According to a recent study report published by the Market Research Future, the Global mHealth applications market is booming and expected to gain prominence over the forecast period and is projected to grow a sound pace. The Global mHealth Applications Market is projected to demonstrate a sound growth by 2023, surpassing its previous growth records in terms of value with a sound CAGR during the anticipated period (2017-2023).

Global mHealth Applications Market – Competitive Analysis

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

Key Players:

Some of the key players in this market are: Allscripts (US), Agamatrix, Inc. (US), Apple Inc. (US), Honeywell International Inc. (US), Medtronic MiniMed, Inc. (US), Vivify Health (US), iHealth Labs Inc. (US)

Industry News:

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.

February 09, 2018 – US – Department of Health, Wyoming introduced a free, personalized mHealth app named as ‘The Family Health app’. The app is designed to connect families in the state of Wyoming with appropriate healthcare resources.  The Family Health app developed by Wildflower Health, mobile health Application Company.

In October 2017- AgaMatrix, Inc., a wholly owned subsidiary of AgaMatrix Holdings LLC, announced that they entered into a USD 32 million senior term loan facility with Prospect Capital Corporation. The proceeds from the term loan facility were used to support sales and marketing, product development and clinical trial initiatives for both AgaMatrix, Inc., and for WaveForm Technologies, Inc., a separate wholly owned subsidiary of AgaMatrix Holdings, LLC.

In September 2016- Allscripts, a global leader in healthcare technology, announced that it has closed its acquisition of McKesson Corporation’s hospital and health system IT business, known as the Enterprise Information Solutions (EIS) business. The transaction significantly expands Allscripts client base in U.S. hospitals and health systems and expanded its solutions portfolio. Allscripts purchased the EIS business for USD 185 million in cash.

In September 2016- iHealth Labs, the connected device subsidiary of Andon Health with offices in Paris and Mountain View, California, acquired Bordeaux, France-based eDevice for USD 106 million. eDevice is a longtime European provider of back-end infrastructure that connects remote monitoring devices to hospitals and healthcare providers.

Global mHealth Applications Market – Segments

The MHealth Applications Market is segmented into 2 key dynamics for the convenience of the report and enhanced understanding;

By Types: Comprises Diagnosis & Treatment, Monitoring Applications, Education & Awareness, Wellness & Prevention, and Healthcare Management, among others.

By Regions:  North America, Europe, APAC and Rest of the World.

Segment Monitoring Application accounted for 53.8% of the market share, in 2016.

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Global mHealth Applications Market – Regional Analysis

The Global mHealth Market is segmented into four different regions namely; North America, Europe, Asia-Pacific (APAC), and Middle East and Africa (ME&A). High-income countries were reported highest adoption of mHealth and people from these countries are actively using mHealth services. The market form mHealth applications is growing rapidly in developing countries such as China and India. According to International Telecommunication Union, the number of mobile phone subscription is reached to about 5 billion throughout the world and about 70% of them are in low-middle income countries.

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