mHealth Apps Market to Reach Valuation US$ 340.5 Bn by 2030

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Table of Content

As per Precedence Research, the global mHealth Apps market is predicted to garner growth at a registered CAGR of 26.79% during the forecast period and expected to reach valuation US$ 340.5 billion by 2030.

Mobile technology such as health tracking apps and wearables is used in mHealth to share and monitor health information. Medical healthcare providers can use mobile wireless technology to deliver care and monitor symptoms, making diagnosis faster, quicker, and with fewer errors. Customers are becoming more interested in mHealth apps market players continue to offer a variety of apps in their app stores.

The mHealth apps market is expected to be driven by the growing adoption of fitness and medical applications to gather and track individuals’ health-related data and to improve the overall health of patients using mobile phones. Furthermore, rising internet and smartphone penetration as well as growing awareness of the need of preserving physical health and improving one’s lifestyle are all contributing to increased usage and as a result the growth of the global mHealth apps market.

Since the last few years, mobile technology has advanced dramatically. This growth in mobile traffic is due to advancements in 3G and 4G networks, which have enabled the use of smartphones and tablets for commerce, entertainment, medical services, and other purposes. Customers have been able to successfully manage their daily activities sue to the incorporation of flexible innovation into human services administrations. The adoption of mHealth apps reduces healthcare costs by limiting the number of healthcare practitioners’ visits and also reduces hospitalization rates.

Report Highlights:

• Based on the type, the medical apps segment accounted market revenue share of around 97% in 2021. The fitness segment is being driven by an increase in the usage of tablets, wearable devices, and smartphones to access fitness applications as well as growing emphasis on adopting a healthy lifestyle. Furthermore, over the forecast period, rising awareness of diet-related diseases is expected to drive segment growth.
• North America is the largest segment for mHealth apps market in terms of region and has garnered revenue share 38% in 2021. Several factors are driving the growth of the mHealth apps market in this region, including rapid growth in smartphone usage, rising prevalence of chronic diseases, increased awareness among individuals to use mHealth apps, and rise in senior population.
• Asia-Pacific region is the fastest growing region in the mHealth apps market. This is attributed to its huge population and rising need for health applications. Over the projected period, fast growing smartphone penetration and rising internet users are also predicted to fuel the mHealth apps market in this area.

 

Future of mHealth Apps Market

Rapid improvements in the telecommunications sector like as the advent of 4G LTE, gave a variety of chances for the mHealth apps market to thrive. As a result of the development of such facilities, emerging countries that lack sufficient communication capabilities will be able to profit from an upgraded network facility, allowing them to enjoy the advantages of these apps. With advances in mobile phone technology and telecommunications, mHealth is continuing to develop. The advancements in telecommunication technology have led to the creation of easily available apps that are widely utilized by patients. Thus, technological advancements are creating future prospects for the mHealth apps market.

COVID-19 Impact Analysis:

• The COVID-19 had an unexpected and devastating worldwide impact, with mHealth apps experiencing a huge positive demand across all regions during the pandemic. During the COVID-19 epidemic, there was also a growth in the use of mobile health applications.
• During the COVID-19 outbreak, the government and non-government agencies pushed for the use of mobile health apps for self-management of symptoms, training, information sharing, risk assessment, contact tracing, and home monitoring.  

Key Developments in the Marketplace:

• Abbott Laboratories established an agreement with Omada Health in October 2019 to use the mHealth coaching platform to manage diabetic treatment.
• Apple Inc. released the Apple Fitness+ app for its Apple Watch in December 2020. The fitness app provides assistance by motivating and tracking the user’s workout metrics.
• Fitbit’s ECG app to measure heartbeat for atrial fibrillation was approved by the U.S. Food and Administration (FDA) and the European Commission in September 2020.
• Apple Inc. introduced the health records functionality for iPhone and Apple Watch customers in the UK and Canada in October 2020.
• Fitbit introduced the Fitbit Charge 4 in March 2020, with the most advanced health and fitness apps, with the goal of providing greater value to consumer health.
• The fundamental unit of mobile health, the pulse screen, was delivered by Omron Medical Care in January 2019. The pulse screen was replaced by a heart counselor for people’s well-being. Omron’s expertise in computerizing cardiac infections was enhanced by this novel technology.

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