mHealth Apps Market

mHealth Apps Market Outlook

The newly-released mHealth Apps industry analysis report by Fact.MR shows that global sales of mHealth Apps in 2021 was held at US$ 36.7 Bn and is expected to grow at a CAGR of 14.3% during the period from 2022-2032.

The projected market growth is significantly higher than the historical average of 11.9% during the period of 2017-2021. The Medical Apps segment is expected to be the highest revenue generating segment, accounting for an absolute dollar opportunity of nearly US$ 110.7 Bn during 2022 – 2032.

Key Points Covered in mHealth Apps Industry Survey:

• Market Estimates and Forecasts (2017-2032)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• COVID-19 Impact on mHealth Apps and How to Navigate
• Recommendation on Key Winning Strategies

Revenue of mHealth Apps from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the mHealth Apps industry research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the mHealth Apps industry increased at CAGR of around 11.9%, while the majority stake of 35% of global market is held by U.S.

The market is expected to be driven by the increasing usage of fitness and medical apps to gather and track individuals' health-related data and to enhance patient’s overall health using smartphones. Owing to this, mHealth Apps market is projected to grow at a CAGR of 14.3% over the period of 2022-2032.

• The mHealth Apps market reached a valuation of US$ 36.8 Bn in 2021 with the revenues growing at the rate of 12.3% owing to the growing awareness among individuals for maintaining physical health and improving their lifestyle.
• Fact.MR estimates that mHealth Apps revenue will grow 3.8X during the period ranging from 2022-2032 & will be reaching nearly US$ 155.9 Bn.
• mHealth Apps revenue from medical apps segment accounts for 96.4% in its total revenue and this is expected to increase by 24 basis points in the coming 10 years.
• Among the Medical health apps, the women’s health apps own the majority stake of 34.4%, which is expected to grow at the CAGR of 15.2% in coming 10 years.
• The growing use of fitness & medical apps to collect and track health-related data and improve patient’s well-being via smartphones is likely to drive the market.
• The diagnostic apps market is expected to grow faster at a CAGR of 15.9% outperforming the growth as leading segment of medical apps.

What are the major factors driving the growth of mHealth Apps Market?

The major factors driving the growth of mHealth Apps are mentioned below:

• The prevalence of chronic disorders has a direct impact on the market share of the mHealth Apps because such disorders require frequent monitoring and regular check-ups.
• The advent of new technology as well as the growing demand for effective mHealth solutions are the key factors driving market expansion.
• The need for cost containment in healthcare delivery, a growing focus on active patient participation and patient-centric care delivery through a digital model are all contributing to the market's growth.
• The growing requirement quality health applications is likely to boost the market growth. As per IQVIA, there are 3,50,000 mHealth applications available on app store.
• There has been a surge in mobile subscriptions and an increase in internet penetration globally. This has assisted the countries in adopting health applications in their routine life. According to a survey issued by Ericsson in 2020, the number of mobile subscriptions has surpassed 6 Bn, and this number is further expected to increase in the coming years.

What are the Key Roadblocks towards the Growth of mHealth Apps Market?

The mHealth Apps helps its users streamline communication with its self-management user interface. It empowers the patients and fitness freaks to access real-time monitoring. These apps, however, are highly susceptible to cyberthreats since they have to collect and transmit personal and protected health information across platforms. The privacy concerns, data security laws, access to sensitive information, hacking challenges and the automatic installation of hazardous software are all expected to hinder market expansion. In developing countries, the technological barrier and limited digital infrastructure are restricting the growth of the market. Furthermore, one of the primary reasons expected to limit the market's growth is lesser regulatory approval for mHealth applications. According to the medical economics report, only 219 mobile health applications were approved by the FDA by 2018.

Region-wise Analysis

Which Region Is Expected to Offer the Largest Opportunity for mhealth Apps Market?

Among all the regions considered in the report, the APAC region is expected to grow fastest at the CAGR of 16.1% during the forecasted period of 2022 – 2032. It is expected to be driven by growing smartphones usage, significant growth in network connectivity, greater patient care diagnostics and improved devices in the APAC region. Furthermore, a low-cost healthcare system encourages the growth of the mHealth sector in this region. Because of its simplicity of use and handling, as well as its larger market size, the mobile health sector has seen substantial growth in adoption. According to a poll, more than 40% of people in the APAC region uses mHealth apps for a variety of purposes, including fitness tracking, heart rate monitoring, blood pressure monitoring, among others.

Country-wise Analysis

Which Country is the Driving Force behind mHealth Apps Market?

Among all the countries considered in report, the U.S. dominated the mHealth Apps market with a significant market share of 36.4% globally. Several factors are driving the growth of the mHealth apps market in the U.S., including increased awareness among individuals to use mobile health apps, advanced network coverage, rapid growth in smartphone usage & prevalence of chronic diseases.

Which Countries are projected to offer the Largest Opportunity for mHealth Apps Market?

The market in China is expected to grow fastest at the CAGR of 19%, followed by Canada at 18.1%, Germany at 16.1% and Japan & U.K. at 15.7%. The market in these countries are growing at a rate faster than U.S. due to lower base effect and presence of potential customers.

Category-wise Insights

Why Medical Apps Segment is Gaining the Utmost Traction among Two mHealth Apps Segment?

In 2021, the medical apps segment led the mHealth App industry, accounting for 96.4% of total revenue. This happens because the patients and healthcare professionals are becoming more aware of the benefits of using medical apps for remote and easy communication. In addition, there has been a spike in usage of telehealth and telemedicine technologies by the chronic disease patients to lower the spread of virus during the pandemic time.

Why Fitness Apps segment carries significant opportunity for the mHealth Segment market?

The fitness apps category is expected to grow at a CAGR of 13.4% throughout the forecast period, owing to increased use of fitness-related apps and increased awareness of self-health management. The fitness app segment is driven by a growing emphasis on adopting a healthy lifestyle. With the increase in the consumption of wearable devices, the requirement for fitness apps to track their details increases. The category growth under Diet & Nutrition segment is expected to grow by 13.7% throughout the forecasted period because of rising public awareness of diet-related issues.

What was the impact of COVID-19 on the mHealth Apps Market?

The COVID-19 outbreak has impacted the ongoing trends of the mHealth Apps market and added the new dimension to it. Government and Non-government organisations promoted the use of mHealth Apps for creating awareness among the public. These apps were widely being used for self-management of symptoms, remote monitoring, contact tracing and training the people for controlling the pandemic.
The expansion of mHealth Apps during the pandemic is not limited to the covid patients only but would include the patients with chronic ailments who switched to digital consultations as a way to prevent the spread through physical visits. This way the market of mHealth Apps was able to grow at CAGR of 12% and 12.3% in the pandemic years (2020-2021) as compared to 11.4% growth during the non-pandemic years.

Competitive Analysis

The growing acceptance and deployment of mHealth apps has fostered a competitive atmosphere among industry participants. In addition, the major companies’ core tactics of mergers, collaborations, and acquisitions are predicted to boost market expansion and increase rivalry. To maintain their dominant position in the industry, the major players are focusing on producing cost-effective healthcare mobile applications that meet the needs of consumers. As a result, the market for mHealth is expected to grow faster in the next few years as a result of the innovations made by the major players.

The major competitors in the mHealth Apps Industry are Airstrip technologies AstraZeneca PLC, Abbott laboratories, Bristol-Myers Squibb Company, Pfizer Inc, Allscripts, AT&T, Apple Inc., Sanofi, Johnson and Johnson, Orange, Google Inc, Samsung Electric Co. ltd, Teladoc Health Inc., Qualcomm Technologies Inc, GlaxoSmithKline Plc, Merck & Co. Inc, F. Hoffmann-La Roche Ltd., Novartis AG, etc

Some of the key developments in the mHealth Apps industry being channelised by market players are as follows:

• In Jan 2022, Pfizer has sponsored the MyCancerGuide App for fast-tracking the adoption of telehealth globally. This app would facilitate the early detection of breast and cervical cancer.
• In Jan 2022, a joint partnership of BrightInsight and Sanofi was announced to bring to the market Sanofi's best in class software as a medical device with next generation digital companion application.
• In Nov 2021, Merck & Co. acquired Acceleron Pharma for $11.5 Bn and gained rights over Acceleron’s lead therapy candidate. This was considered to be largest healthcare industry deal of 2021.
• In May 2021, Teladoc Health Inc partnered with Vivo to improve the local population's access to quality healthcare in Brazil through its virtual care platform.
• In January 2021, Abbott released NeuroSphere, a digital health app that tracks and reports on patient perceptions of pain alleviation and general well-being with the help of spinal cord stimulation therapy.

Similarly, recent developments related to companies offering mHealth Apps have been tracked by the team at Fact.MR, which are available in the full report.

mHealth Apps Market Report Scope

Attribute	Details
Forecast Period	2022-2032
Historical Data	2017-2021
Quantitative Units	In US$ Bn
Key Regions Covered	North America Latin America Europe APAC MEA
Key Countries Covered	United States Canada Brazil Mexico Germany U.K. France Spain Italy Russia China Japan India South Korea Australia South Africa Saudi Arabia UAE Israel
Key Market Segments Covered	Product Type Region
Key Companies Profiled	Airstrip technologies AstraZeneca PLC Abbott laboratories Bristol-Myers Squibb Company Pfizer Inc Allscripts AT&T Apple Inc Sanofi Johnson and Johnson Orange Google Inc Samsung Electric Co. ltd Teladoc Health Inc. Qualcomm Technologies Inc GlaxoSmithKline Plc Merck & Co. Inc F. Hoffmann-La Roche Ltd. Novartis AG

Market Segments Covered in mHealth Apps Industry Analysis

• By Product Type

  • Medical Apps
    • Women’s Health Apps
    • Personal Health Record Apps
    • Medication Management Apps
    • Diagnostic Apps
    • Remote Monitoring Apps
    • Disease Management Apps
    • Other Medical Apps
  • Fitness Apps
    • Diet & Nutrition
    • Exercise & Fitness
    • Lifestyle & Stress

• By Region type

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Russia
    • Others
  • APAC
    • India
    • China
    • Japan
    • South Korea
    • Australia
    • Others
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others