MHealth App Market Size, Witness Highest Growth in near future by 2030 | Bristol-Myers Squibb Company, AstraZeneca PLC

The Global mHealth App Market size is estimated to be USD 17.94 billion in 2019 and is predicted to reach USD 931.67 billion by 2030 with a CAGR of 43.2% from 2020-2030.

Trend of using mHealth apps has increased from last few years. There are number of market players offering apps for fitness and health monitoring. People are now awareness about health apps that are available on Android, IOS and windows platforms. Various companies launch number of studies to determine the adoption of mHealth apps. For instance, in December 2018, Mount Sinai Health System launched a five-year mHealth study with an aim of examining the causes and effects of asthma.

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Top Companies: Johnson &Johnson,Abbott Laboratories, F. Hoffmann-La Roche Ltd.,Merck and Co., Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Sanofi, GlaxoSmithKline plc,and Pfizer, Inc and others.

Market Dynamics and Trends:

The mHealth app market is anticipate to exhibit enormous growth opportunities during forecast period which is mainly driven by an increase in the number of healthcare providers, patients & general population using health apps for fitness and health monitoring and high incidence rate of chronic diseases. Moreover, the integration of healthcare with information technology solutions and increasing number of market players launching application for management of chronic conditions such as diabetes and heart diseases also drive the growth of the mhealth app market.

Use of smart phones for continuously tracking &monitoring fitness has increased with an increase in the awareness about importance of regular health monitoring for maintaining their health. Most of the healthcare providers also use mHealth apps for accessing medical records of patients. Therefore, rapid adoption of mHealth apps is expected to drive the growth of the global market during the forecast period. Shift from traditional delivery of healthcare towards patient centric models and rise in the number of healthcare providers recommending mHealth apps also fuel the growth of the market.

Increase in the number of smart phone subscription will further increase the use of health and fitness apps that will boost the growth of the market. Patients with diabetes and heart need to continuously monitor their health. These apps provide numerous advantages to such patients thereby avoiding emergency care and reduce their cost of care.

Prominent players in the market have launched new apps which enabled them to increase their market share. In April 2017,Sanofi partnered with Voluntis on Diabetes Management App. In December 2016, Pfizer launched an app in order to support patients with depression.The New York health system announced that it will be partnering with Sanofi and digital health company Sema4 on the remote monitoring program. This program will use connected health devices and other platforms for gathering data from 1,200 asthma patients.

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Market Segmentations and Scope of the Study:

The global mHealth App market share is analyzed on the basis of product, and geography. On the basis of product, the market is segmented into medication adherence, fitness, disease management, women's health, lifestyle management, nutrition & diet, healthcare providers/ payors, and others.fitnesssegment is expected to be the fastest growing segment and is expected to hold largest market share during the forecast period due to increase in the number of adults using healthcare apps for health & fitness. The regional analysis of the mHealth App market comprises of North America, Europe, Asia Pacific, and Rest of the World.

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