Pune, Sept. 16, 2020 (GLOBE NEWSWIRE) -- The global mHealth apps market size is projected to reach USD 57.57 billion by 2026. Driven by the increasing number of novel product launches, the market will witness an impressive growth rate in the coming years.
According to a report published by Fortune Business Insights, titled “mHealth Apps Market Size, Share & Industry Analysis, By App Type (Disease & Treatment Management, Wellness Management, Others), By Application (Monitoring Services, Fitness Solutions, Diagnostic Services, Treatment Services, Others), By Operating System (Google Play Store, Apple App Store, Others) and Regional Forecast, 2019-2026,” the market was worth USD 11.17 billion in 2018 and will exhibit a CAGR of 21.1% during the forecast period, 2019-2026.
Noteworthy Industry Developments:
September 2019: Fitbit announced a collaboration with FibriCheck with the aim of offering innovative health monitoring and screening app services across Europe.
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Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
mHealth app is a mobile-based application that studies and examines data that is gathered through sensor-integrated devices. These devices are normally mounted or connected to the human body. They are capable of tracking pulses and heart beats. mHealth apps can help keep track of body conditions such as respiratory tracts, blood pressure levels, and heart rates. As mHealth apps are capable of notifying of unstable conditions and help avoid severe diseases, thereby saving costs associated with further treatment costs. The use of advanced concepts such as AI and data learning helps track conditions. The increasing applications will have a positive impact on the growth of the market in the coming years.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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To get the short-term and long-term impact of COVID-19 on this Market.
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Report Overview:
The report provides a detailed analysis of the global mHealth apps market. It highlights leading products in the market and labels areas where these products have been used the most. The report identifies the areas that hold a huge potential for market growth. Additionally, the market is segmented on the basis of several criteria including operating system, application, and app type.
Forecast values have been evaluated for the period of 2019-2026. Factual figures are obtained from trusted sources. Analytic data is gathered through the use of extensive research methods. Moreover, predictions are made through the opinions and interviews of experienced market research professional.
Increasing Number of Product Launches Will Constitute an Increase in Market Size
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches have had the highest impact on market growth. In August 2019, the Department of Veterans Affairs announced the launch of a novel mHealth app.
The product was introduced with the aim of helping veterans and providing them with affordable services. This product will encourage other companies as well as public and private organizations alike. Driven by the increasing demand, the market is set to witness significant growth rate in the coming years.
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Europe Holds a Dominant Market Share; Increasing Smartphone Penetration to Aid Growth
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, Europe held a dominant market share in 2018, accounting to the increasing smartphone penetration in several countries across this region. Contribution from government as well as private organizations will contribute to the growth of the market in this region.
Besides Europe, North America will witness considerable growth rate in the coming years, driven by the presence of several large scale companies. As of 2018, the market in North America was worth USD 3.35 billion and this value is likely to increase further in the coming years.
List of the leading companies that are operating in the global mHealth apps market are:
- Fitbit, Inc.
- Apple Inc.
- Jawbone Health Hub, Inc.
- Omada Health, Inc.
- Livongo Health
- Boston Scientific Corporation
- Omron Healthcare, Inc.
- Abbott
- Others
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mHealth Apps Market Segmentations:
By App Type
• Disease & Treatment Management
o Healthcare Providers/Insurance
o Medication Reminders
o Women Health & Pregnancy
o Disease Specific
• Wellness Management
o Fitness
o Lifestyle & Stress
o Diet And Nutrition
• Others
By Application
• Monitoring Services
• Fitness Solutions
• Diagnostic Services
• Treatment Services
• Others
By Operating System Type
• Google Play Store
• Apple App Store
• Others
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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