mHealth Apps Market

Global mHealth apps Market by Technology (AI, machine learning algorithms and others), by Application (monitoring services, fitness solutions, diagnostic services, treatment services, and others based on application), and by End-User (Healthcare, Patients, Insurance Companies, Research Centers, Pharmacy, Biopharmaceutical Companies, Government, Tech Companies, Other End-Users), Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, and Forecast 2023-2031.

Pharma & Healthcare | June 2023 | Report ID: EMR0079 | Pages: 254

The mHealth apps market, which was USD 87.03 billion in 2022, would rise to USD 640.08 billion by 2031 and is expected to undergo a CAGR of 29.6% during the forecast period 2023 to 2031.

A mobile health application, or mHealth app, is a kind of software created for smartphones, tablets, or wearable devices with the intention of supporting healthcare and promoting wellness. These apps provide a wide range of features and services that make it easier to monitor, educate, manage, and communicate about one's health.

As technology advances and healthcare changes, mHealth apps' features and applications also evolving. These apps offer convenient access to health-related tools, information, and support directly from mobile devices, which has the potential to empower people, encourage proactive healthcare, and improve health outcomes.

 

 

Global mHealth apps Market REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2022)

87.03 Bn

Projected Market Value (2031)

640.08 Bn

Base Year

2022

Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Material, By Application & Region

Segments Covered

By Type, By Material, By Application & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Market Dynamics

Market Growth Factors:

The market growth of mobile health application is influenced by several factors, including the rising individual knowledge of the benefits of mobile health applications, advancements in networks coverage, rapid expansion in smartphone usage, an ageing population, and an increase in the prevalence of chronic diseases. 

 

Market Drivers:

  • Growing Incidence of Chronic Illnesses is Fueling Growth

The most widespread use of these apps has been caused by chronic illnesses like heart disease, diabetes, hypertension, cardiac problems, and respiratory problems. People are becoming more aware of their health as these diseases become more prevalent. For an instance, according to a study by the WHO, an estimated 17.9 million deaths worldwide in 2019, or 32% of all fatalities, were attributable to CVDs (cardiovascular diseases). Heart attack and stroke deaths accounted for 85% of these fatalities. Because of this, it is necessary to continuously monitor the health conditions, and these apps are wonderful for doing so remotely by reminding patients to take care of their health according to their schedules and requirements, which eliminates the need for in-person clinic visits.

 

  • Medical Professionals Are Using Mobile Apps More Frequently

The increasing recommendations from healthcare experts to utilize mobile medical apps is expected to drive mHealth apps market. These apps offer potential benefits for enhancing patient care, empowering individuals to monitor their health, and facilitating communication between patients and healthcare providers. As a result, the use of mobile medical apps is likely to gain momentum.

 

Market Opportunities:

Factors such as the widespread use of smartphones, the need for remote healthcare services, the convenience of virtual consultations, the growing interest in personal health and fitness, the challenge of medication adherence, the potential for data analysis, and the growing concern about chronic diseases create significant opportunities for the market expansion.

 

Market Challenges:

Because mHealth apps handle sensitive health information, ensuring data security is critical, unauthorized access or breaches can lead to violations of privacy and the misuse of personal health records.

Misuse of healthcare records in the context of mHealth apps can have serious ramifications. When sensitive health information enters into the wrong hands, it can result in a variety of forms of misuse. Personal medical records can be used to commit insurance fraud. Furthermore, unauthorized access to health data might lead to prejudice or stigmatization based on a person's medical history.

 

Segments Analysis

  • Application Insight:

 By application, the market is segmented into monitoring services, fitness solutions, diagnostic services, treatment services, and others.

During the forecast period, the monitoring services category is expected to have the largest market share. This is mostly due to an increase in the geriatric population suffering from chronic illnesses that needs ongoing monitoring. As a result, the growing senior population would encourage the use of these applications for frequent health monitoring.

 

  • End User Insights

By end user, the market is segmented into healthcare, patients, insurance companies, research centers, pharmacy, biopharmaceutical companies, government, tech companies, and other end-users.

The healthcare providers segment is predicted to increase at a considerable CAGR throughout the projected time frame. Mobile phones are now widely available in low and middle-income countries. As a result, practically all illnesses and chronic ailments can be screened easily. Chronic diseases necessitate numerous hospital visits, regular check-ups, and a variety of lifestyle adjustments as determined by a physician. mHealth can help patients become more aware of their illness, engage in lifestyle treatments, make clinical decisions, stick to medicine, follow screening regimes, and receive rehabilitation support. Individuals suffering from chronic conditions have turned to mHealth as a convenient and cost-effective method of disease management. As a result of these considerations, the market for suppliers of mHealth solutions is rapidly expanding.

 

Technology Landscape:

MHealth apps have the potential to revolutionize healthcare delivery, empower people, and enhance overall health outcomes as the technological landscape develops. The incorporation of AI and machine learning algorithms to deliver personalized health recommendations based on user data and predictive analytics is an example of the developing technology landscape in mHealth apps.

 

Regional analysis:

During the forecast period, North America is expected to uphold its global market dominance. The United States is one of the countries with the highest percentage of major health app companies operating in the industry. Furthermore, the increasing internet penetration rate in various states in the United States will have a significant impact on market growth.

Due to the increasing number of smartphones and internet users in the region, Asia-Pacific is predicted to experience tremendous growth. The market expansion in this region is also anticipated to be fueled by the rapidly increasing smartphone penetration. Furthermore, initiatives taken by government to introduce and advance mobile health applications will also play a major role in growth of the market.

 

 

 

Competitive Landscape:

The competitive landscape of mHealth apps can be characterized as fragmented rather than centralized. Each rival focuses on a particular area of healthcare, such as telemedicine, mental health assistance, medication adherence, chronic illness management, or fitness tracking. The market is still extremely competitive and fragmented because there is no dominant firm or small group of leading businesses. Users have a wide range of options to pick from that cater to their individual health and wellness needs due to this fragmentation, which also promotes diversity and innovation in the mHealth app ecosystem.

Key Players:

  • Fitbit, Inc.
  • Apple Inc.
  • Omada Health
  • Livongo Health
  • Boston Scientific Corporation
  • Omron Healthcare, Inc.
  • Abbott
  • Jawbone Health Hub, Inc.

 

Regulatory Environment:

The regulatory landscape around mHealth apps is complex and ever-changing. Governments and regulatory agencies all around the world are realizing the importance of developing guidelines and standards to assure the safety, privacy, and efficiency of these apps. For an instance on the basis of the FDA's interpretation of the 21st Century Cures Act, which Congress adopted in 2016, the agency released a new drafting advice in December 2017. The guideline is meant to explain to app developers how it wants to govern so-called clinical decision support (CDS) apps, which give doctors suggestions for diagnoses and treatments. Patient decision support (PDS) applications, which merely provide information to the patient, are distinct from and different from CDS apps.

 

Global mHealth apps Market Report Segmentation:

ATTRIBUTE

DETAILS

By Technology

  • AI
  • Machine learning algorithms
  • Others

By Application

  • Monitoring services
  • Fitness solutions
  • Diagnostic services
  • Treatment services
  • Others based on application

By End-User

  • Healthcare
  • Patients
  • Insurance Companies
  • Research Centers
  • Pharmacy
  • Biopharmaceutical Companies
  • Government
  • Tech Companies
  • Other End-Users

By Geography

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Recent Developments:

  • April, 2020 Google and Apple revealed their intention to release APIs that would allow Android and iOS products to communicate with one another.
  • April, 2020 A COVID-19 tracking system that relies on GPS tracking electronic bracelets and a coronavirus contact tracing application has been created by the Kingdom of Bahrain.
  • April, 2020 For the debut of the former's chatbot throughout LifeLink's 14 Philadelphia facilities, Jefferson Health system and LifeLink established a relationship. The chatbot would employ AI to help with the coronavirus epidemic pre-screen

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global market of mHealth solutions is projected to reach USD 640.08 billion during 2023-2031.
The global mHealth solutions market is projected to grow at a CAGR of 29.6% from 2023 to 2031.
Apple Inc. and Fitbit, Inc. are the top players in the market.
North America is expected to dominate the market during the forecast period.