SAN FRANCISCO, Feb. 23, 2021 /PRNewswire/ -- The global mHealth apps market size is expected to reach USD 149.3 billion by 2028 and is expected to register a CAGR of 17.7% over the forecast period, according to a new report by Grand View Research, Inc. Growing promotion of mHealth applications due to their benefits in improving the lifestyle and treatment outcomes is one of the key factors driving the growth of this market. In addition, the use of mobile health applications can facilitate better patient experience and engagement.
Key suggestions from the report:
The global market size is anticipated to be valued at USD 149.3 billion by 2028 owing to growing product adoption for better patient engagement and care
Based on type, the market is broadly classified into medical and fitness apps. The medical applications segment dominated the market in 2020
This is owing to high awareness levels about such applications and preference for their use by healthcare professionals, patients, and other consumers
Medical applications are further classified into applications, such as women's health, medication management, personal health record, diagnostic, remote monitoring, disease management, and others
North America led the global market in 2020; however, Asia Pacific is projected to become the fastest-growing regional market over the forecast period.
North America was the dominant regional market in 2020 and accounted for a revenue share of 38.8%. Various factors like rapid growth in the usage of smartphones, developments in coverage networks, increasing prevalence of chronic diseases, and rise in geriatric population are driving the market growth in North America. In addition, rising demand for health and analytics solutions has led to increased adoption of such applications by healthcare providers and others. Increasing cases of chronic conditions requiring remote monitoring and treatment also boost the demand for mobile health platforms.
In addition, the Covid-19 pandemic has led to an increased utilization of mobile health platforms across the globe. Increasing remote patient monitoring and patient data analysis and diagnosis are major factors for the adoption of mobile health applications. For instance, data published by Statista providing a comparison between the number of mHealth or medical application downloads and the peak month of the pandemic signifies that there was around 135% increase in the medical application downloads in South Korea and around 65% rise at a global level. Hence, the pandemic has boosted product adoption, thereby fueling the market growth.
Grand View Research has segmented the global mHealth apps market on the basis of type and region:
mHealth Apps Type Outlook (Revenue, USD Million, 2016 - 2028)
Diet & Nutrition
Exercise & Fitness
Lifestyle & Stress
Personal Health Record
mHealth Apps Regional Outlook (Revenue, USD Million, 2016 - 2028)
Fitness App Market–The global fitness app market size was valued at USD 4.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.6% from 2021 to 2028.
Mobile Application Market–The global mobile application market size was valued at USD 154.05 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
Smart Healthcare Market–The global smart healthcare market size was valued at USD 143.6 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 16.2% from 2020 to 2027.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.