Global mHealth Apps Market is set to Grow at a CAGR of 39.5% Over the Forecast Period (2019 - 2027), Because of Rising Popularity of Wearable Medical Devices: Says Absolute Markets Insights
The key players in global mHealth apps applications market are Abbott Laboratories, AstraZeneca PLC, Johnson and Johnson
PUNE, India, March 11, 2020 /PRNewswire/ -- Major factors driving the mHealth Apps Market include growing adoption to track health and vital signs, increased penetration of mobile devices (smartphones, tablets, and other personal digital assistants), increased use of wireless network devices, and increased adoption of advanced technology in health care facilities. Release of Xiaomi, Apple and Fitbit wearable devices will have a positive impact on market growth. Business growth seems optimistic with rising demand and wearable tech companies investing money. For starters, these new businesses are focused on mHealth classes, women's health, personal safety, and hydration tracking, which ensure energizing opportunities for the global market.
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The growing use of mobile devices by health professionals has changed different aspects of clinical practice. As a result, medical software applications for such platforms have been developed significantly. Mobile devices and apps offer healthcare professionals several benefits. They include improved access to point-of-care tools that support enhanced clinical decision-making and improved patient results. Opportunities and threats have emerged with the rapid technological advances in mHealth research & development. These include the creation of scalable systems that collect unparalleled data amounts and take action and at the same time protect researchers ' safety and privacy. In the following years, the industry could be struck by stringent regulation policies for mHealth applications.
Some of the other factors responsible for the growth of mHealth apps market include low cost and convenience of medical devices, technological innovations, and the convergence of wireless technology & mobile accessibility, government initiatives and rising lifestyle diseases. Factors such as lower acceptance due to accuracy concerns, limited reimbursement coverage, technical knowledge, and ambiguity in government regulations are somewhat restricting the market growth. Global mHealth Applications Market was valued at US$ 12.2 billion in 2018 and is expected to reach US$ 244.7 billion by 2027, growing at an estimated CAGR of 39.5% over the forecast period.
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The detailed research study provides qualitative and quantitative analysis of mHealth apps market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- · Increasing use of cell phones in addition to 3 G and 4 G networks would increase the use of mobile platforms in most areas, particularly in healthcare frameworks.
- · North America dominated the mHealth Apps Market. The high penetration of the smartphones, tablets, and other mobile platforms, the growing use of connected devices & mHealth applications for the management of chronic diseases, development and adoption of innovative technology and the increased presence of major companies in the areas can be attributed to North America's large market share.
- · The key players in global mHealth apps applications market are Abbott Laboratories, AstraZeneca PLC, Johnson and Johnson, Novartis AG, and F. Hoffmann-La Roche Ltd. The mHealth apps market is experiencing a rapid shift from a maturity stage to a stage of development where more sellers are talking about putting resources into mHealth apps. The rise in popularity of wearable health devices is also measured to have a positive impact on the market. Mergers and acquisitions as well as an expansion in the quantity of new wearable tech firms are raising the competition between device sellers.
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mHealth Applications Market:
- By App Type
- Weight Loss
- Women Health
- Diabetes Management
- Mental Health
- By Services
- Remote Monitoring
- Consultation
- By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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