The global mobile health (mHealth) app market is projected to be valued at US$28.320 billion in the year 2018 and is expected to reach US$102.35 billion by 2023, growing at a CAGR of 29.30% during the period.
Health-related mobile applications and technologies are often known as mHealth and manage the patient experiences. These health mobile apps use sophisticated data analytics and mobile technologies for healthcare professionals to provide their patients best care possible at low cost from convenient locations.
Cloud-based solutions are gaining prominence as the data is stored on the internet for easy access while removing the need for storing the data on local servers. New mobile applications integrate data related to the patient with geo-location information stored on the cloud. The mobile apps facilitate better and easy health management through simple applications like exercise trackers, diet, and calorie-counting among others.
Mobile health apps assist medical professionals with management and documentation of complete records to improve productivity, communicate findings and allow access to information. The benefit of mobile health apps and solutions are the improvement in health outcomes, reduction of error rates while reducing the overall healthcare costs. Mobile solutions can smoothen out treatment process and can automate the management system.
The major driving factors of the mobile health market are increased adoption of smartphones, multiple connectivity options such as Bluetooth, Wi-Fi, and growing penetration of 3G and 4G network in developing regions. Mobile health apps market is also being positively impacted due to its cost effectiveness during medical practices and rising awareness of chronic disease management. However, stringent laws and regulations of the US Food and Drug Administration and the European Union regulations regarding data security may restrict the market growth.
Geographically, North America dominates the global mobile health app and solutions market due to increasing healthcare awareness of chronic disease management. Asia Pacific region is expected to show high growth rate over the next five years on account of growth being observed in China and India. Other key factors contributing to the growth of mobile health app and solutions market in emerging countries are a large pool of patients and increase in government funding.
Key industry players profiled as part of this section are Johnson & Johnson, Omron Corporation Airstrip Technologies, Inc. and Diversinet Corp. among others.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Mobile Health Apps and Solutions Market Forecast by App Type (US$ billion)
6. Global Mobile Health Apps and Solutions Market Forecast by Service (US$ billion)
7. Global Mobile Health Apps and Solutions Market Forecast by Connected Medical Device (US$ billion)
8. Global Mobile Health Apps and Solutions Market Forecast by Geography (US$ billion)
9. Competitive Intelligence
10. Company Profiles
- Johnson & Johnson
- Omron Corporation
- Airstrip Technologies, Inc.
- Diversinet Corp.
- Philips Healthcare
For more information about this report visit https://www.researchandmarkets.com/research/pv554v/28_32_billion?w=5
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