mHealth Apps Market Prominent Companies are Airstrip Technologies, Inc. and Novartis AG

Posted on 2023-03-27 by researchinsights in Biotech, Healthcare, Industrial, Pharmaceuticals, Software, Technology // 0 Comments

San Francisco, Calif., USA, Mar 27, 2023 — /EPR Network/ —

mHealth Apps Industry Overview

The global mHealth apps market size was valued at USD 43.5 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.6% from 2023 to 2030. Growing adoption of fitness and medical apps to collect and track individuals’ health-related data and to improve the overall health of the patients’ using smartphones are the major factors anticipated to drive the market. In addition, increasing internet and smartphone penetration and growing awareness in maintaining physical health and lifestyle improvement are also further increasing the adoption, thereby supporting market growth.

Furthermore, increasing promotion to adopt health applications by the government and private organizations due to the benefits provided by these applications in monitoring and improving health conditions and lifestyle is also expected to accelerate the app adoption over the years. In addition, the growing number of health applications and continuous improvement of the app quality by the developers is also anticipated to boost the growth of the market for mHealth. For instance, according to statistics quoted by IQVIA in an article published by Medical Device Network in 2021, are more than 350,000 digital health applications available on app stores.

Gather more insights about the market drivers, restraints, and growth of the Global mHealth Apps market

The growing interest of the users to use health applications for chronic disease management is expected to increase the adoption of mobile health applications. In addition, increasing recommendations of healthcare professionals to use mobile applications for better patient care is also another factor anticipated to accelerate the mHealth app adoption. For instance, according to the data published in OrthoLive stated that 93% of the healthcare professionals believed that mobile health applications can improve patients’ health. This type of perspective of the healthcare professionals towards the mobile health applications is further anticipated to drive the adoption of the mHealth applications over the years.

Furthermore, an increase in the number of mobile subscriptions and growing internet penetration around the globe are further helping to boost the adoption of health applications. For instance, as per the report published in 2020 by Ericsson, the mobile subscription number exceeded six billion and this is also anticipated to increase over the forecast years. Moreover, the growing use of social media and increasing app promotions are also expected to propel the growth of the market for mHealth in the upcoming years. For instance, according to the DataReportal 2021 statistics, there are around 4.55 billion social media users by October 2021, which equates to 57.6% of the total world population.

In addition, there is an increase in the utilization of mHealth applications observed during the COVID-19 pandemic. During the pandemic, the government and non-government organizations promoted the use of mobile health applications for training, self-management of symptoms, information sharing, contact tracing, risk assessment, home monitoring, and decision making to manage the COVID-19 pandemic. For instance, as per the data published in the journal Expert Review of Pharmacoeconomics and Outcomes Research, there is a 65% growth in mobile health application download in 2020.

Moreover, data security and privacy concerns of mobile healthcare applications are the major factors expected to hamper the growth of the market for mHealth. Sensitive information accesses, hacking issues, data breaches, automatic installation of malicious programs are some of the major concerns anticipated to impede the market growth. In addition, lower regulatory approval for mHealth applications is also one of the major factors anticipated to restrain the growth of the market. For instance, as per the medical economics report, only 219 mobile health applications got FDA approval by 2018.

Browse through Grand View Research’s Healthcare IT Industry Research Reports.

mHealth Market – The global mHealth market size was valued at USD 56.8 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.8% from 2023 to 2030.

Digital Health Market – The global digital health market size was valued at USD 211.0 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 18.6% from 2023 to 2030.

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