The global mHealth Apps Market size is expected to reach USD 149.3 billion by 2028 and is expected to register a CAGR of 17.7% over the forecast period, according to a new report by Grand View Research, Inc. Growing promotion of mHealth applications due to their benefits in improving the lifestyle and treatment outcomes is one of the key factors driving the growth of this market. In addition, the use of mobile health applications can facilitate better patient experience and engagement.
North America was the dominant regional market in 2020 and accounted for a revenue share of 38.8%. Various factors like rapid growth in the usage of smartphones, developments in coverage networks, increasing prevalence of chronic diseases, and rise in geriatric population are driving the market growth in North America. In addition, rising demand for health and analytics solutions has led to increased adoption of such applications by healthcare providers and others. Increasing cases of chronic conditions requiring remote monitoring and treatment also boost the demand for mobile health platforms.
In addition, the Covid-19 pandemic has led to an increased utilization of mobile health platforms across the globe. Increasing remote patient monitoring and patient data analysis and diagnosis are major factors for the adoption of mobile health applications. For instance, data published by Statista providing a comparison between the number of mHealth or medical application downloads and the peak month of the pandemic signifies that there was around 135% increase in the medical application downloads in South Korea and around 65% rise at a global level. Hence, the pandemic has boosted product adoption, thereby fueling the market growth.
Related Press Release @ mHealth Apps Market Report
mHealth Apps Market Report Highlights
- The global market size is anticipated to be valued at USD 149.3 billion by 2028 owing to growing product adoption for better patient engagement and care
- Based on type, the market is broadly classified into medical and fitness apps. The medical applications segment dominated the market in 2020
- This is owing to high awareness levels about such applications and preference for their use by healthcare professionals, patients, and other consumers
- Medical applications are further classified into applications, such as women’s health, medication management, personal health record, diagnostic, remote monitoring, disease management, and others
- North America led the global market in 2020; however, Asia Pacific is projected to become the fastest-growing regional market over the forecast period