Mobile Health Application (mHealth Apps) Market to Reach US$ 315.4 Billion by 2027, Globally |CAGR: 44.4%|UnivDatos Market Insights

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NOIDA, India, March 10, 2021 /PRNewswire/ -- A comprehensive overview of the mobile health application (mHealth apps) market is recently added by UnivDatos Market Insights to its humongous database. The mobile health application market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the mobile health application market. The mobile health application market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the mobile health application market at the global and regional levels. The Global Mobile Health Application Market is expected to grow at a CAGR of 44.4% from 2021-2027 to reach US$ 315.4 billion by 2027.

Market Overview

The practice of medicine and public health supported by mobile devices and the wireless infrastructure is referred to as mHealth applications. The adoption of mobile health applications is evolving at a rapid pace. The introduction of 4G and 5G services coupled with the rising internet penetration and offering of smartphones at affordable prices are some of the factors which are aiding growth to the market. In a report it was found that the number of people using mobile internet in 2015 was around 1.9 billion and the number witnessed a sharp rise and increased to around 3 billion by 2020 Moreover, the penetration of smart gadgets, increasing utilization of connected medical devices is leading to the growing adoption of mHealth applications for the management of the disease.

Moreover, the presence of numerous global and local players across the region in the industry is also acting as a growth catalyst to the industry. As per a report more than 50,000 mHealth application developers are operating in the global market who offers the application for paid and free as well. Also, the healthcare providers are more inclined towards the offering of services through mHealth application owing to the reasons such as time savings, money savings, ease of reach, availability of patient's medical history, etc. As per a study by GMC in 2011 30% of doctors used a mobile app for consulting and offering other healthcare services.

Furthermore, the application launch, strategic alliances, and increasing seed and venture capital funding in the industry is leading to the growing market of mHealth application. For instance, UAE-based "MyMedicNow" launched a new app to bridge the gap between patients and doctors in 2020. Also, the emerging demand for smart healthcare wearables especially among millenniums is adding pace to the growing market. In 2021, one plus announced to make its debit and launch fitness tracker smart wearables in India. Also, Aeofit, India based startup launched a range of smart wearables with a focus on smart Watches at affordable prices in 2020.

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COVID-19 Impact

COVID-19 has been a growth driver for the mobile health application industry. Mobile Health Applications has witnessed a massive surge during this period as the government announced the lockdown and the social distancing norms. Also, the government supported the use of digital technology for consulting doctors during COVID Period. Also, the government launched a mobile health application in India "Arogya Setu". As per the Ministry of Home Affairs, Arogya Setu was downloaded by 90 million users until May 2020. Also, 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.

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Global Mobile Health Applications (mHealth Apps) Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Category, the market is primarily bifurcated into

• Disease and Treatment Management
• Wellness Management
• Others

The Wellness Management segment dominated the by category of the global mobile health application market and will grow at 44.4% CAGR to reach US$ 197.1 billion by the year 2027.

By Disease and Treatment Management, the market is primarily segmented into

• Healthcare providers/Insurance
• Medication reminder
• Women health/pregnancy
• Disease-specific

Amongst disease and treatment management types, the disease-specific segment accounted for the largest share and is expected to grow at 43.5% CAGR during the forecast period 2021-2027. In 2019, the disease-specific segment accounted for a revenue share of almost 50%.

By Wellness Management, the market is primarily studied into

• Fitness
• Lifestyle & Stress
• Diet & Nutrition

In 2019, the fitness segment dominated the global mobile health applications market with nearly 55.2% of the market share and it is anticipated by 2027, the segment will garner US$ 112.7 billion of the market.

By Services, the market is primarily studied into

• Monitoring Services
• Fitness Solutions
• Diagnostic Services
• Treatment Services
• Others (health practitioner support, administration, prevention)

In 2019, the monitoring services segment dominated the global mobile health applications market with nearly 65% of the market share and it is anticipated by 2027, the segment will garner US$ 211.2 billion of the market.

By Operating System, the market is primarily studied into

• Google Play Store
• Apple App Store
• Others

In 2019, the google play store segment dominated the global mobile health applications market with nearly 61.2% of the market share and it is anticipated by 2027, the segment will garner US$ 201.8 billion of the market.

By Technology, the market is primarily studied into

• AI-enabled
• Non-AI-enabled

In 2019, the non-AI-enabled segment dominated the global mobile health applications market with nearly 86.2% of the market share and it is anticipated by 2027, the segment will garner US$ 251.2 billion of the market.

Mobile Health Applications Market Geographical Segmentation Includes:

• North America (the United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
• Rest of the World

Based on the estimation, the Europe region dominated the mobile health applications market with almost US$ 4.7 billion in revenue in 2019. At the same time, the Asia-Pacific region is expected to grow remarkably with a CAGR of 45.9% over the forecast period on account of the internet penetration & growing awareness about its benefits.

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The major players targeting the market includes

• Airstrip Technologies
• AgaMatrix, Inc.
• Omron Corporation
• Withings
• Biotelemetry, Inc.
• Telefonica
• AliveCor, Inc.
• Pfizer, Inc
• Merck and Co., Inc.
• Sanofi

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the mobile health application (mHealth Apps) market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the mobile health application market?
• Which factors are influencing the mobile health application market over the forecast period?
• What are the global challenges, threats, and risks in the mobile health application market?
• Which factors are propelling and restraining the mobile health application market?
• What are the demanding global regions of the mobile health application market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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