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Boom forecast for mhealth apps market
- February 5, 2024
- Steve Rogerson
The mhealth apps market is booming worldwide led by products from Google, Apple, Sony and others, according to a report from HTF Market Intelligence.
The global mhealth apps market is set to see a CAGR of 11.2% from 2024 until 2030, says the report.
The report aims to provide market intelligence and insights to help decision-makers with sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report identifies and analyses the changing dynamics and emerging trends along with the key drivers, challenges, opportunities and constraints.
The mhealth apps market size is estimated to increase to $81.9bn at a CAGR of 11.2% by 2030. The current market value is pegged at $43.32bn.
Major players covered in the report include Orange, Qualcomm, Google, Airstrip Technologies, Apple, AT&T, Allscripts, Nutrimedy, Unmind, Ovia Health, Sony and MDCalc.
Mhealth apps are programmes that use a smartphone’s inbuilt tools, such as GPS, accelerometer, microphone, speaker and camera, to detect and measure health-related behaviour automatically. Drug and clinical reference apps, diagnostic apps, and medical calculators are common mhealth apps used by healthcare professionals and students.
Health professionals find these apps particularly useful for accessing the latest medical journals during patient care and management.
The widespread availability and affordability of smartphones and tablets have led to a larger user base for mhealth apps, driving market growth. Integration of the apps with wearable devices and sensors, such as fitness trackers and smartwatches, allows for real-time health monitoring and personalised healthcare, contributing to market growth.
The incorporation of artificial intelligence (AI) and machine-learning (ML) technologies allows for data analysis, personalised recommendations and predictive analytics, enhancing the overall functionality and user experience.
The widespread availability of smartphones and improved internet connectivity worldwide is a major driver for adoption, making healthcare services accessible to a larger population.
The escalating costs of healthcare services are encouraging individuals and healthcare providers to seek cost-effective alternatives, such as mhealth apps, for remote monitoring, preventive care and self-management.
Governments and healthcare organisations are implementing policies and initiatives to promote the adoption of digital health technologies, including mhealth apps, as part of their healthcare delivery systems.
The apps offer the potential to extend healthcare access to underserved populations, particularly in remote areas or regions with limited healthcare infrastructure. They can enhance patient engagement by providing personalised health information, reminders and interactive tools for self-management. With the increasing prevalence of chronic diseases worldwide, there is an opportunity for the apps to support ongoing disease management. They can enable remote monitoring of patients’ vital signs, symptoms and medication adherence. This capability is particularly valuable for individuals with chronic conditions, post-operative care or those requiring continuous monitoring.
More information on the report can be found at: www.htfmarketintelligence.com/report/global-mhealth-apps-market.