Global Mobile Health Apps Market Is Expected to Foresee Significant Growth During the Forecast Period. Asia-Pacific to Witness the Highest Growth
Global Mobile Health Application Market is expected to reach the market valuation of US$ 315.4 billion by 2027 expanding at a reasonable CAGR of 44.4% during the forecast period (2021-2027) from US$ 16.8 billion in 2019. The monitoring and sharing of health information through technologies such as wearables and health tracking apps are known as mobile health and the use of applications to support technologies is known as mobile health applications.
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The various factors driving the mobile health application market include the rising prevalence of chronic diseases such as cancer, heart disease, diabetes, kidney disease, and other diseases as well. As per WHO, cancer is the second leading cause of death globally. About 1 in 6 deaths is due to cancer across the globe. Also, it is estimated that the 1,806,590 new cases of cancer to be diagnosed in the United States and 606,520 people would die from the disease as revealed by the National Cancer Institute.
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The healthcare facilities, healthcare application developer, and the end-users are the three areas within the mobile healthcare application sector which have been most interrupted amid COVID-19 crisis. The healthcare applications downloads witnessed robust growth during the COVID-19 owing to the fear of got impact by the virus, social distancing norms, and the government’s announcement for the less visit to healthcare facilities. A mobile healthcare application, Maya saw a surge in queries related to COVID-19. From February to March, there was a 2700% increase in the number of requests for support and information. Also, seed or venture capital funding witnessed a sharp rise during the COVID period. For instance: Siilo, a secure mobile healthcare company for medical professionals, has received €9.5m in venture capital financing during the COVID pandemic.
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Based on the category, the market is fragmented into disease and treatment management, wellness management, and others. The wellness management segment dominated the market in 2019 accounted for 62.6% and is anticipated to maintain its dominance during the forecast period owing to the substantial advances in applications, customized applications as per requirement, etc. Furthermore, the disease and treatment management market are mainly bifurcated into the Healthcare providers/insurance, medication reminder, women health/pregnancy, and disease-specific.
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Based on services, the market is mainly fragmented into Monitoring Services, Fitness Solutions, Diagnostic Services, Treatment Services, and Others (health practitioner support, administration, prevention). The Monitoring Services segment dominated the market and accounted for 65% in 2019 and is anticipated to maintain its dominance during the analyzed period. The surging trend for remote monitoring owing to the benefit such as time and money-saving, quick access and easy process is leading to the growth of the market
Mobile health (mHealth) application holds the potential for several mobile operating platform types such as Android, iOS, and Other. In 2019, the google play store segment dominated the market and generated revenue of US$ 10.3 billion in 2019 owing to a surging in the shipments of android smartphones owing to the launch and availability of good phones at affordable prices. As per IDC, the shipments of the android phone would reach 85.7% by 2024 as compared to 14.3% of iOS in the same year.
The mobile health applications run on two techniques which are AI-enabled and Non-AI-enabled. The AI-enabled segment is expected to grow at the highest CAGR of 51.2% during the forecast period owing to the benefit of such as better practices, Quality assurance, Improved services, Reduced manual activities, Controlled monitoring, Data capture and secured healthcare data, Risk assessment, etc.
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Additionally, the report provides detailed initiatives that are being taken in the field of mobile health applications. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India, Australia, and the Rest of APAC), and Rest of the World. Europe dominated the market and generated revenue of US$ 5.2 billion in 2019 owing to the high prevalence rate of chronic disease, adoption of smartphones, and increase in funding for R&D activities related to the mhealth application.
AgaMatrixInc., AirStrip Technologies, Omron Corporation, Withings, Biotelemetry, Inc., Telefonica, AliveCor, Inc., Pfizer, Inc, Merck and Co., Inc, and Sanofi are some of the prominent players operating in the global mobile health application market. Several M&A’s along with partnerships have been undertaken by these players to develop m health application.
Global Mobile Health (mHealth) Application Market Segmentation
Market Insight, by Category
- Disease and Treatment Management
- Healthcare providers/Insurance
- Medication reminder
- Women health/pregnancy
- Wellness Management
- Lifestyle & Stress
- Diet & Nutrition
Market Insight, by Services
- Monitoring Services
- Fitness Solutions
- Diagnostic Services
- Treatment Services
Market Insight, by Operating System Type
- Google Play Store
- Apple App Store
Market Insight, by Technology
- Non-AI enabled
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Airstrips Technologies
- AgaMatrix, Inc.
- Omron Corporation
- Biotelemetry, Inc.
- AliveCor, Inc.
- Pfizer, Inc
- Merck and Co., Inc.