mHealth Apps Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030

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mHealth Apps Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030

Status : April, 2021 | Healthcare IT

Report Digest

mHealth Apps Market: Overview

The mHealth apps marker is predicted to expand at a stellar growth rate over the forecast period from 2020 to 2030. First and foremost, rapid penetration of smartphones for healthcare is creating ripples in the mHealth market. Further, the development of mobile applications for treatment and monitoring patients is creating new vistas in the mHealth market. Today, healthcare IT is a booming technology segment wherein IT programs, processes, and systems are deployed for patient care. The high success rate of technology-driven healthcare is attracting large technology companies to enter the mobile health space.

Key parameters based on which the mHealth apps market is divided are type and region.

The report provides an exhaustive analysis of mHealth apps market for the 2020 – 2030 forecast period covering key trends, growth indices, and opportunities.

mHealth Apps Market: Competitive Landscape

The mHealth apps market is intensely competitive due to the presence of a very large number of small, mid-size, and large companies. Product innovation and efforts to tap into undiscovered areas is the focus of large players in the mHealth apps market. These players are entering into technological partnerships and collaborations with other players to leverage each other’s technological and business expertise. For example, the partnership between Abbott Laboratories and Omada Health to provide the former’s glucose monitoring system to provide a digital coaching platform for Omada Health’s patients with type 2 diabetes.

Prominent players in the mHealth apps market include;

  • Abbott Laboratories
  • Johnson and Johnson
  • F.Hoffmaa-La Roche Ltd.
  • Bristol-Myers Squibb Company
  • Merck and Co. Inc.
  • Sanofi
  • Qualcomm Technologies Inc.
  • Google Alphabet Inc.
  • Airstrip Technologies Inc.
  • Apple Inc.
  • Astrazeneca plc
  • Novartis AG
  • GlaxoSmithKline plc
  • Pfizer Inc.
  • Samsung Electronics Co. Ltd.
  • Orange
  • Allscripts
  • AT&T

mHealth Apps Market: Key Trends

Massive investments by large as well as small technology companies leading to a very large number of mobile applications for healthcare is one of the key factors fuelling the mHealth apps market. According to Statista, there were approximately 47, 140 mHealth apps available on the Google play store in the third quarter of 2020. This is a significant rise from approximately 27, 417 mobile health apps available on the platform in the third quarter of 2015.

Besides this, shift in medical practices to patient-centric models is expected to favor the adoption of mHealth apps. The high success rate of remote medical care is increasingly attracting medical practitioners to use mobile health apps for follow-ups and remote patient monitoring. Taking a cue from this, medical experts and healthcare professionals are increasingly recommending the use of mHealth apps to patients and support staff. A survey carried out by Health IT Outcomes that found 93% of physicians believed mHealth applications can help improve patient outcomes.

The ongoing COVID-19 pandemic has added a new dimension to the mHealth apps market. Patients, caregivers, and medical experts relied extensively on mHealth apps for remote patient monitoring to contain the virus. Besides medical care for patients of coronavirus, mHealth apps extensively used for other health conditions during the pandemic. Individuals with chronic health conditions refrained from visiting health centers and hospitals for doctor consultations of follow-up visits. Collectively, this expanded the scope of growth of mHealth apps market tremendously.

mHealth Apps Market: Regional Assessment

North America held the leading position in the mHealth apps market in the recent past. The region is expected to continue to expand at a steady growth rate in the forthcoming years. Factors such as excessive penetration of smartphones, availability of super speed telecommunication networks, increasing prevalence of chronic diseases, and rising geriatric population are creating ample opportunities in the mHealth apps market in the region.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?