Mobile Health Apps Market Outlook
The global mobile health apps market size was valued at USD 15,157.8 Million in 2019 and is projected to reach USD 87,933.0 Million by 2027, expanding at a CAGR of 24.9% during the forecast period 2020-2027. The number of downloads of mobile health apps is growing significantly owing to the rising adoption of home healthcare services and increasing geriatric population.
Increasing availability of smartphone applications for health parameter monitoring and surging the usage of these applications for the management of chronic disease are leading to the greater uptake of mobile health apps among healthcare service providers and patients. Moreover, players operating in the mobile health apps market are focusing on improving application features such as data accuracy and real time monitoring to promote the usage of these applications among the end-users.
Mobile Health Apps Market Dynamics
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.
Mobile Health Apps Market Segment Analysis
The usage of mobile health applications is rising significantly worldwide due to the ability of these apps to keep a track on one’s health and fitness. Mobile health applications are increasingly adopted across all age groups for improving the outcomes of treatments and promoting healthy lifestyle adoption, while lowering the incidences of chronic diseases. Moreover, constant advancements in these apps are propelling the market.
Service Types Segment Analysis
In terms of service types, the global mobile health apps market is categorized as monitoring services, fitness solutions, diagnostic services, treatment services, and others. 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.
Factors such as rising health awareness among the young generation and availability of smart devices for tracking the fitness parameters are anticipated to propel the growth of this segment. The monitoring services segment holds a key share of the market, in terms of revenue generation, following by the fitness solutions segment.
The monitoring services segment is driven by solutions developed for the management of chronic diseases and rising health issues among the geriatric population. High adoption of these monitoring services among developed countries is driving the segment.
App Store Type Segment Analysis
Based on app store types, the market is classified as Google play store, Apple play store, and others. The Apple play store segment accounts for a major share of the market and is anticipated to expand at a considerable CAGR during the forecast period.
Rising adoption of health-related mobile applications among the Apple product users is driving the growth of this segment. Moreover, the cost of the apps available on Apple app store is high than those on Android and other mobile app stores, which in turn, is ultimately leading to high revenue generation from the Apple play store-based segment.
End-users Segment Analysis
In terms of end-users, the market is segregated into patients, healthcare professionals, household users, and others. The others 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 mobile health applications among sports participants and other prominent users such as research companies and pharmaceutical companies is propelling segment growth. The analytics obtained from these mobile phone applications are used by pharmaceutical or biotech companies to analyze health parameters and their constant alteration for research purposes and such benefits are promoting the adoptions of these applications.
Regional Analysis
The global mobile health apps market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is expected to be dominant region of the global market and this trend is expected to continue during the forecast period due to the availability of potential end-users using the apps and high adoption of technological advanced healthcare devices.
The market in Europe is estimated to expand at a substantial CAGR during the forecast period due to increasing accessibility & availability mobile health apps, rising need for constant health monitoring, and high adoption of technologies in the healthcare sector. North America is projected to hold a considerable share of the market due to the presence of key manufactures of mobile health apps in the US.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the mobile health apps market
- Historical, current and projected market size in terms of value
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Neutral perspective on global mobile health apps market performance
Segments
Service Types
- Monitoring Services
- Fitness Solutions
- Diagnostic Services
- Treatment Services
- Others
App Store Types
- Google Play Store
- Apple Play Store
- Others
End-users
- Patients
- Healthcare Professionals
- Household Users
- Others
Regions
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- South East Asia (SEA)
- Rest of Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa (MEA)
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
Competitive Landscape
Key players in the mobile health apps market share include Abbott, AstraZeneca PLC, Bristol-Myers Squibb, GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer, F. Hoffmann-La Roche Ltd, Sanofi, Novartis, and Roche. These are considered as key players of the market based on their featured applications developed for health monitoring, strong regional presence, superior support and application interfaces offered to end-users, and high demand for advanced apps offered by these players. These players are adopting key strategies such as product development, geographical expansion, and mergers & acquisition to increase their presence in the mobile health apps market.