MHealth Apps Market
The mHealth Apps Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s mHealth Apps Global Market Report 2024, The mhealth apps market size has grown exponentially in recent years. It will grow from $55.32 billion in 2023 to $68.77 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth in the historic period can be attributed to data security & privacy measures, rising healthcare costs, shift in patient engagement, healthcare provider adoption, chronic disease management.
The mhealth apps market size is expected to see exponential growth in the next few years. It will grow to $166.28 billion in 2028 at a compound annual growth rate (CAGR) of 24.7%. The growth in the forecast period can be attributed to user privacy & security concerns, healthcare policy changes, consumer behavior shifts, integration with wearable devices, telemedicine expansion. Major trends in the forecast period include gamification and engagement, preventive healthcare solutions, healthcare accessibility, behavioral health and mental wellness, wearable device integration.
Increasing publicity of mHealth applications due to their increasing benefits to improving patient disease state is expected to propel the growth of the mHealth apps market. Many people are increasingly adapting to the usage of health apps and therefore their popularity is increasing. These apps provide many benefits to monitoring patient disease state. According to Healthcare Information and Management Systems Society, a health app is regularly used by nearly 64% of adults in the United States to measure health metrics. Further, a new study by BMJ in 2021 reported that the Google Play store has nearly 2% of mHealth apps. mHealth apps are being used to improve the treatment and provide information that is easily accessible. Health care professionals are using these health applications for educating the patient and also for self-monitoring. Therefore, the increasing publicity of mHealth applications due to their increasing benefits to improve patient care is driving the growth of the mHealth app market.
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The mHealth Apps market covered in this report is segmented –
1) By App Type: Disease And Treatment Management, Wellness Management, Other App Types
2) By Connected Medical Devices: Heart Rate Meters, Wearable Fitness Sensor Device, Blood Pressure Monitors, Pulse Oximeters, Other Connected Medical Devices
3) By Application: Monitoring Services, Fitness Solutions, Diagnostic Services, Treatment Services, Other Applications
4) By End-User: Physicians, Patients, Insurance Companies, Research Centers, Pharmacy, Biopharmaceutical Companies, Government, Tech Companies, Other End-Users
Major companies operating in the mHealth Apps market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in October 2023, Cedars-Sinai, a US-based non-profit medical center, announced a collaboration with K Health, a US-based primary care company. Cedars-Sinai, in collaboration with digital primary care startup K Health, has introduced a new mobile app, Cedars-Sinai Connect, aimed at providing convenient virtual care for both new and existing patients in California. The app, leveraging K Health’s technology, offers around-the-clock access to virtual care providers for urgent issues, same-day primary care appointments, and seamless integration with Cedars-Sinai’s health record system. Through AI-driven chat features, the app streamlines the intake process, empowering clinicians to focus more on patient care while enhancing accessibility to exceptional medical services.
The mhealth apps market report table of contents includes:
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