Global mHealth Apps Market by Type (Fitness, Medical) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global mHealth apps market was valued at USD 40.05 Billion in 2020. It is projected to grow at a compound annual rate (CAGR of 17.7%) between 2021 and 2028. Mobile health refers to the use of smartphones for monitoring and maintaining one's health. Market growth is driven by the growing popularity of mHealth apps due to their potential benefits for improving patient lifestyles and treatment outcomes. These applications are also more popular because they can be used to improve patient engagement and experience. The market is growing because of the increasing adoption and increased number of mobile health apps for remote monitoring.

Statista estimates that there were 47,140 mHealth applications available on Google Play Store in the third quarter 2020. This is a significant increase in number compared to the 3rd quarter 2015 when there were only 27,417 apps available on the Google play store. The adoption of these applications is expected to rise due to the shift away from traditional delivery models and towards patient-centric models. Another key driver of market growth is the increasing popularity of mobile health apps and platforms for patient care, engagement and prevention by healthcare professionals. OrthoLive published a 2019 article that quoted a statistic taken from Health IT Outcomes' survey. The survey revealed that 93% of doctors believe such applications can improve patient health.

The market is also being boosted by the increasing penetration of smartphones. The rising popularity of social media and the internet is also increasing product adoption. According to the January 2021 DataReportal analysis, global social media users were 4.2 billion and 4.66 billion respectively. The Covid-19 pandemic, which struck in January 2021 DataReportal, has seen an increase in mHealth applications all over the world. These applications have seen a significant increase in adoption due to remote patient monitoring, data analysis, and diagnosis. According to ORCHA's research, there was a 25% increase in the number of people downloading mobile health apps during the pandemic.

Market impact of COVID19's mHealth apps: 14.3% growth

However, security and privacy concerns regarding data are keeping mobile health technology adoption from happening. Data breaches, malicious programs, accessing sensitive information, etc. These are just a few of the reasons that the market is not growing. Fortified Health Security published a report in 2019 that showed that the Office for Civil Rights (OCR), reported 16% more breaches related to healthcare than 2018 during the first ten months of 2019. To increase compliance, various governments are making stringent regulations to market players. This is likely to alter the market dynamics over the next few years.

Type Insights

With a market share of 70%, the medical apps segment was the dominant player in 2020. This segment will continue to hold the top spot during the forecast period due to increasing awareness and visibility of mHealth apps that create positive health outcomes. This segment will see a rise in demand from both patients and healthcare professionals for these applications.

These apps are useful for physicians in clinical decision making and can also be used by pharmacists and other healthcare professionals in referring drugs. This has led to their increased adoption in the healthcare sector. The mHealth app market can be divided by type into two segments: fitness and medical. In the next few years, fitness apps will also see significant growth.

Regional Insights

North America was the dominant market, with a greater than 38% revenue share in 2020. Due to factors such as increasing smartphone usage, improvements in coverage networks, rising prevalence of chronic diseases and a growing geriatric population, the regional market will continue to grow at a steady CAGR between 2021 and 2028. Healthcare providers have seen an increase in adoption of analytics and health solutions due to rising demand.

Due to high demand for connected devices, the Asia Pacific region will experience the fastest CAGR during the forecast period. This is because connected living has become a reality. Many Asian countries are also adopting Digital Health strategies to manage healthcare delivery and ensure better outcomes. Digital India, for example, aims to provide IT services that empower the healthcare sector. These initiatives will increase product adoption in the region during the forecast period.

Market Share Insights & Key Companies

Due to technological advances and a rise in product demand the market is highly competitive. This will likely encourage new companies to enter the market. Companies can also make strategic advances in the form mergers and acquisitions. Market growth and competition will be fueled by these strategic advancements. Omada Health and Abbott Laboratories have partnered to provide the FreeStyle Libre app, a glucose monitoring system by Abbott Laboratories, and Omada Health’s digital coaching platform for type 2 diabetics. This will increase the app's visibility. These are some of the major companies that make up the global mHealth app market:

• Abbott Laboratories

• Johnson and Johnson

• AstraZeneca PLC

• F. Hoffmann-La Roche Ltd.

• Novartis AG

• Bristol-Myers Squibb Company

• GlaxoSmithKline plc

• Merck and Co., Inc.

• Pfizer, Inc.

• Sanofi

• Samsung Electronics Co. Ltd.

• Qualcomm Technologies, Inc.

• Orange

• Google (Alphabet), Inc.

• Allscripts

• Airstrip Technologies, Inc.

• AT&T

• Apple Inc.

Up Market Research published a new report titled “mHealth Apps Market research report which is segmented by Type (Fitness, Medical), By Players/Companies Inc; and Sanofi, Inc; Pfizer, Abbott Laboratories; Johnson and Johnson; AstraZeneca PLC; F Hoffmann-La Roche Ltd; Novartis AG; Bristol-Myers Squibb Company; GlaxoSmithKline plc; Merck and Co”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

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.

Global mHealth Apps Market Report Segments:

The market is segmented by Type (Fitness, Medical).

mHealth Apps Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the mHealth Apps Market

Overview of the regional outlook of the mHealth Apps Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The mHealth Apps Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of mHealth Apps Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Fitness

                2. Medical

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the mHealth Apps Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the mHealth Apps Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.