Global Mobile Health Apps Market Expected to Reach USD 87,933.0 Million by 2027 With A CAGR Of 24.9% | Growth Market Reports
PUNE, India, Feb. 26, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports titled, "Global Mobile Health Apps Market by Service Types (Monitoring Services, Fitness Solutions, Diagnostic Services, Treatment Services, and Others), App Store Types (Google Play Store, Apple Play Store, and Others), End-users (Patients, Healthcare Professionals, Household Users, and Others), and Regions: Size, Share, Trends, and Opportunity Analysis, 2017-2027", the market was valued at USD 15,157.8 Million in 2019 and is estimated to expand at a CAGR of 24.9% from 2020 to 2027. The growth of the mobile health apps market is attributed to the rise in the adoption of smartphone-based applications for real-time data monitoring and easy healthcare consultation received through these apps.
Key Market Players Profiled in the Report
- Abbott
- AstraZeneca PLC
- Bristol-Myers Squibb
- GlaxoSmithKline PLC
- Johnson & Johnson
- Merck & Co., Inc.
- Novartis AG
- Pfizer
- Hoffmann-La Roche Ltd
- Sanofi
- Novartis
- Roche
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Mobile Health Apps Market
The global mobile health apps market has been fragmented based on service types, app store types, end-users, and regions.
In terms of service types, the market has been categorized as monitoring services, fitness solutions, diagnostic services, treatment services, and others.
On the basis of app store types, the global mobile health apps market has been classified as Google play store, Apple play store, and others.
In terms of end-users, the market has been segregated into patients, healthcare professionals, household users, and others.
Based on regions, the global mobile health apps market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America has been further bifurcated into countries such as the US, and Canada. Latin America has been segmented into Brazil, Mexico, and Rest of Latin America, while Asia Pacific has been split into, China, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific. Europe has been categorized as Germany, France, Italy, the U.K., Spain, Russia, the Netherlands, and the Rest of Europe, and the MEA region is divided into Saudi Arabia, South Africa, the UAE, and the Rest of MEA.
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Increasing penetration of connected devices such as smartphones, tablets, and other mobile platforms is expected to drive the mobile health applications market. The availability of user-friendly apps for tracking health related parameters through wearable medical devices is anticipated to fuel the market growth. Additionally, growing utilization of connected devices and mobile health apps for the management of chronic diseases and reducing costs incurred in the healthcare service delivery are boosting the adoption of these apps. Surge in the prevalence of COVID-19 across major economies has propelled the need for home healthcare services for patients and provider, thus propelling the market in the year 2020.
Mobile health applications perform real-time monitoring of health parameters such as steps tracking, sleep pattern tracking, blood pressure monitoring, and glucose level monitoring, which is expected to create lucrative opportunities in the market during the forecast period. Moreover, low physician density in developing countries is anticipated to create potential opportunities for greater adoption of mobile health apps. Rising adoption of AI and 5G among smartphone users and application developers is expected to create new customer base during the forecast period.
Lack of standards and regulatory policies is limiting the adoption of mobile health applications, thus restraining the market growth. The occurrence of issues in the reimbursements and availability multiple alternative options and fake mobile health applications are restraining the market growth.
Key Takeaways from the Study:
- Europe is dominating the global mobile health apps market and this trend is expected to continue during the forecast period.
- In terms of service types, the fitness solutions segment accounts for a major share of the market and is anticipated to expand at a considerable CAGR during the forecast period. High adoption of fitness tracking devices among the young generation is anticipated to drive the market.
- In terms of revenue generation, Apple store apps is expected to remain a dominant segment during the forecast period due to high adoption of health applications among Apple product users and high costs associated with them.
Read 296 Pages Research Report with Detailed ToC on "Global Mobile Health Apps Market by Service Types (Monitoring Services, Fitness Solutions, Diagnostic Services, Treatment Services, and Others), App Store Types (Google Play Store, Apple Play Store, and Others), End-users (Patients, Healthcare Professionals, Household Users, and Others), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa)"
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Key Segments Covered
By Service Types
- Monitoring Services
- Fitness Solutions
- Diagnostic Services
- Treatment Services
- Others
By App Store Types
- Google Play Store
- Apple Play Store
- Others
By End-users
- Patients
- Healthcare Professionals
- Household Users
- Others
By Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
Target Audience:
- Supply-side: Mobile health apps providers, application developers, primary respondents
- Demand side: Patients, physicians, household users, and others
- Regulatory side: Concerned government authorities, commercial research & development (r&d) institutions, and other regulatory bodies
- Associations and Industry Bodies: World Health Organization (WHO), GSM Association, NCBI (National Center for Biotechnology Information), IEEE (Institute of Electrical and Electronics Engineers)
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