The global mHealth apps market size was USD 43.70 Billion in 2022 and register a rapid revenue CAGR of 11.4% during the forecast period
— Reports and Data
NEW YORK, NY, UNITED STATES, May 30, 2023 /EINPresswire.com/ — The global mHealth Apps Market reached a size of USD 43.70 Billion in 2022 and is projected to grow at a rapid revenue CAGR of 11.4% during the forecast period. The market is driven by the increasing number of smartphone users and the growing consumer demand for mHealth apps. Mobile health (mHealth) refers to the use of mobile devices and wireless technology in healthcare. One of the primary applications of mHealth is providing customers with information about preventive healthcare services. It is also utilized for managing chronic diseases, tracking epidemics, facilitating treatment, and disease surveillance. The popularity of mHealth is particularly rising in developing regions with high populations and significant mobile phone usage.
Charity groups, such as the mHealth Alliance, are advocating for wider adoption of mobile health in underdeveloped countries, further propelling market revenue growth. One of the key advantages of mHealth apps is their easy accessibility, enabling users to continuously track and manage specific health data through wearable technology and mobile devices, without the need for in-person healthcare visits.
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Key companies profiled
AstraZeneca, Abbott, Bristol-Myers Squibb Company, Apple Inc., Sanofi, Johnson and Johnson Private Limited, GSK plc., Novartis AG, Samsung Electronics Co., Ltd., and F. Hoffman-La Roche Ltd.
Furthermore, mHealth apps offer various activities such as guidance, mentoring, counseling, and training materials to promote healthy families and strong children. They facilitate information exchange between patients and healthcare professionals, allowing for timely communication and better care coordination. These apps improve access to high-quality care, enhance medication compliance, and aid in chronic care management.
Government initiatives, regulations, and investments also contribute to market growth. For example, regulations such as the Health Insurance Portability and Accountability Act (HIPAA) in the United States protect the privacy of individually identifiable health information, driving revenue growth in the market.
However, mHealth apps face challenges related to privacy policies, cybersecurity concerns, and compliance with regulations. Privacy policies may not always be as robust as those of general-purpose apps, leading to potential lack of awareness and understanding among users regarding how their health data is handled. Cybersecurity risks and potential data breaches are additional concerns, as not all mHealth apps comply with government regulations and health insurance policies. These factors could restrain market revenue growth.
Overall, the global mHealth apps market shows immense potential for growth, driven by the increasing adoption of smartphones and the rising demand for convenient healthcare solutions.
Segments Covered in the Report
The market for mHealth apps can be analyzed based on different factors. In terms of app types, there is a wide range of applications catering to various healthcare needs. These include disease and treatment management apps, healthcare provider or insurance provider apps, medication reminder apps, women’s health and pregnancy apps, disease-specific apps, wellness and fitness management apps, personal health record apps, diagnostic apps, remote monitoring apps, and other apps. Each of these app types serves a specific purpose in managing health and healthcare-related activities.
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Connected medical devices play a crucial role in the functionality of mHealth apps. These devices are designed to work in conjunction with the apps to provide accurate and real-time health data. Some of the key connected medical devices include wearable fitness sensor devices, heart rate meters, blood pressure monitors, pulse oximeters, glucose meters, sleep apnea monitors (PSG), neurological monitors, actigraphs or activity trackers, and other devices. These devices enable users to monitor their health parameters and provide valuable data for better health management.
The end-use of mHealth apps can be categorized into different entities that utilize these apps for various purposes. Healthcare providers, patients, insurance companies, pharmacies, biopharmaceutical companies, government agencies, and tech companies are the major end-users of mHealth apps. Each entity has its own objectives and requirements in utilizing these apps, ranging from improving patient care and engagement to streamlining healthcare processes and promoting wellness.
When considering the platform outlook, the distribution and availability of mHealth apps are significant factors. The major platforms for accessing these apps include Google Play Store, Apple App Store, and other app stores. These platforms serve as the primary sources for users to discover, download, and utilize mHealth apps based on their specific mobile device operating systems.
Overall, the mHealth app market encompasses a diverse range of app types, connected medical devices, end-users, and platforms. These elements collectively contribute to the growth and advancement of the mHealth ecosystem, enabling individuals and healthcare entities to leverage technology for better health management, disease prevention, and wellness promotion.
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Strategic development:
• Orange Health, a prominent health-tech company, has recently launched its services in New Delhi as part of its expansive regional growth strategy. This development allows consumers in the NCR region, including Gurgaon, Noida, Delhi, and Ghaziabad, to conveniently access a range of diagnostic services from the comfort of their homes. With the introduction of Orange Health’s services, individuals can now receive diagnostic services within just 60 minutes, and their reports will be available within 6 hours.
• In another announcement, on January 14, 2021, Abbott unveiled NeuroSphereTM myPathTM, a digital health application designed to assess and report on patients’ experiences regarding pain reduction and overall well-being in relation to Spinal Cord Stimulation (SCS) or Dorsal Root Ganglion (DRG) therapy. This innovative app aims to provide valuable insights into patient perceptions and outcomes associated with these therapeutic approaches.
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