Global Mobile Medical Apps Market to Reach $16.5 Billion by 2026

SAN FRANCISCO, July 1, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Mobile Medical Apps - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 16; Released: April 2021
Executive Engagements: 22561
Companies: 92 - Players covered include Abbott Laboratories; AliveCor; Allscripts Healthcare Solutions; AstraZeneca PLC; Athena Health; Azumio; Boston Scientific Corporation; Bristol-Myers Squibb Company; CoheroHealth, LLC; DarioHealth; F. Hoffmann-La Roche AG; Fitbit, Inc; GlaxoSmithKline plc; Health Arx Technologies Pvt Ltd; Johnson and Johnson; Medtronic Plc; Merck and Co., Inc; MetaOptima Technology Inc; Novartis AG; NuvoAir AB; Pfizer, Inc; Sanofi S.A; SkinVision BV; WebMD Health and Others.
Coverage: All major geographies and key segments
Segments: Service (Medical Monitoring, Nutrition & Fitness, Medical Reference, Diagnostic, Treatment, Other Services); End-Use (Patients, Healthcare Providers); Application (Diabetes, Cardiovascular, Respiratory, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Mobile Medical Apps Market to Reach $16.5 Billion by 2026
Healthcare is now experiencing significant disruptive transformation which is leading to a revolution in healthcare management. The Healthcare industry has now stepped into the digital world. Mobile healthcare applications have transformed the healthcare system by its high efficiency, massive and cheap processing power, and advanced communication capabilities. It has made it possible to collect and analyze a huge amount of information about individual patients, environments, and populations. Healthcare future is dominated by mHealth apps owing to the rising use of mobile applications to contact clinics and physicians, and increasing inclination towards online medical stores. Medical apps have initiated a huge change in the way doctors relate to patients and vice versa. Patients have always wanted more control over their medical decisions. Mobile apps have empowered normal people to obtain more knowledge about their health condition and take care of themselves better. Healthcare apps have been garnering a significant traction on account of their ability to assist people in dealing with various health issues anytime, anywhere. The trend has paved way for healthcare apps on mobile platforms or mHealth apps that hold immense potential to share the future of the healthcare industry and associated service delivery. The idea of mHealth involves the use of mobile devices to ensure healthy lifestyles and delivery of medical care.

Amid the COVID-19 crisis, the global market for Mobile Medical Apps estimated at US$4.2 Billion in the year 2020, is projected to reach a revised size of US$16.5 Billion by 2026, growing at a CAGR of 25.5% over the analysis period. Medical Monitoring, one of the segments analyzed in the report, is projected to record a 25.3% CAGR and reach US$5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nutrition & Fitness segment is readjusted to a revised 28.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.9 Billion in 2021, While China is Forecast to Reach $1.5 Billion by 2026
The Mobile Medical Apps market in the U.S. is estimated at US$1.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2026 trailing a CAGR of 30.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 20.7% and 24.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 23.6% CAGR.

The mobile health apps market is expected to register significant growth in the coming years owing to convergence of a number of favourable trends such as integration of healthcare apps and devices. With mobile devices and apps dramatically changing the manner in which healthcare data is gathered, stored, analyzed and shared, healthcare facilitates and practitioners are increasingly using medical apps to offer better care to patients. The upcoming years is likely to witness increasing significance of mobile apps for physicians and healthcare practices. By providing mobile apps to staff, hospitals can simplify and resolve a number of common problems confronting hospital settings and also facilitate significant improvements in overall efficiency of hospital workflows. For example, mobile apps can be used to cut down paper work for patient referrals and also for pre-authorization forms that need to be completed prior to patient's arrival for treatment. The use of smartphones and tablets for patient care has also been found to improve operational efficiency of hospitals. Mobile medical apps are benefiting immensely from advances in mobile phone technologies, with the result mobile devices are now capable of handling some of the most complex tasks. While a vast majority of the apps are designed for simpler tasks, several advanced apps have been developed that can manage sophisticated functions such as real-time monitoring and high-resolution imaging. The present day medical apps are extremely smart, user-friendly and offer the benefit of multi-functionality. Given the potential opportunities on offer in the mobile apps market, healthcare companies are increasingly focusing efforts on mobile apps development as against the concentrated focus on manufacture of medical devices and equipment for physicians and hospitals in the past.

Medical Reference Segment to Reach $2.1 Billion by 2026
In the global Medical Reference segment, USA, Canada, Japan, China and Europe will drive the 23.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$477.2 Million in the year 2020 will reach a projected size of US$2.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$262.1 Million by the year 2026, while Latin America will expand at a 27.8% CAGR through the analysis period. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

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