Press release
Mhealth Applications Market’s Significant Growth worth US$ 100.2 Billion by 2023 In Terms Of Revenue | Top Key players- Allscripts (US), Agamatrix, Inc. (US), Apple Inc. (US), Honeywell International Inc. (US), Medtronic MiniMed, Inc. (US), Vivify Healt
The mhealth market has demonstrated a robust pace of development recently. Market Research Future, a firm which specializes in market reports related to the healthcare sector among others, recently published a report on this market. The global mhealth application market is expected to reach US$ 100.2 billion by 2023. The transformational wave in the healthcare sector has been instrumental to the growth of this particular industry.Continuous monitoring is essential in the treatment for various types of diseases that has created the demand for the mhealth market to flourish. The cost effectiveness and efficiency of mhealth apps in monitoring the vitals of an individual has further led to higher penetration rates for the market. Connectivity through these apps enable intermittent monitoring by healthcare professional who can then alter the course of treatment if need be. The increased concentration of smartphones has further bolstered growth of the segment.
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Industry Segments
The segmentation of the market is on the basis of type which includes monitoring applications, diagnosis & treatment, education & awareness, healthcare management, wellness & prevention, and others. The healthcare applications market is estimated to reach the highest CAGR during the forecast period. Lastly, on the basis of region the market includes areas like Asia Pacific, Europe, North America, Latin America and the Middle East & Africa. Asia-Pacific is the predicted to be the fastest-growing market in the mHealth solutions industry.
Detailed Regional Analysis
view of the international scenario of the market, Europe was found to be controlling the largest market share of 31.7% in global mHealth applications market in the year 2016. Asia-Pacific follows second, as the largest and fastest growing market in global mHealth applications market. The APAC is expected to develop at a CAGR of 33.7% during 2017-2023. North America which is one of the pioneers in mhealth is slightly behind the APAC. However, North America is expected to reach USD 28762.1 million in revenues by the year 2023. On the other hand, the Middle East and Africa (ME&A) region mHealth which was valued USD 1334.9 in 2016 is estimated to expand at a steady pace during the forecast period.
Global Competitive Analysis
The sector’s transformation on a large scale has led to an accelerated the growth pace of the industry. The market players in the space are employing their prime assets to initiate a trend of solid, volume-driven growth. This is evident in the market with the development of different assortments of product categories. Companies are also aiming to capture a sizable share of the market segment as early as possible, by implementing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Few of the key players in this market are Allscripts (US), Agamatrix, Inc. (US), Apple Inc. (US), Honeywell International Inc. (US) and Medtronic MiniMed, Inc. (US).
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Latest Industry News:
Aug 2017 The E U is testing a mHealth app that will be designed to aid immigrants easily access healthcare services. The digital health tool uniquely targets a prevalent problem i.e. language barriers. It has been dubbed Project KRISTINA. The app answers healthcare questions in a user’s own language, or interprets body language and facial expressions. It’s designed for immigrants from North Africa and the Middle East and was tested this summer at health centers in Spain.
Nov 2017 An Israeli startup has launched a new mHealth app for treatment of COPD and targets a familiar pain point in digital health that is getting the user to adapt to a new tool or habit and continue using it. The Healthymize app is thereby designed to sit in the background and capture a smartphone user’s voice and breathing patterns while he or she is using the phone. The app which was tested in Israel and the UK, listens to the user’s breathing patterns during speech, while uploading that data to the cloud. If irregular breathing patterns that can lead to deterioration in speech are detected which might indicate chronic obstructive pulmonary disease, the app is designed to alert both the user and caregivers.
Dec 2017 Humana has recently launched a mHealth app, RxMentor that provides its members and their healthcare providers a mobile tool for medication management and adherence. The app will also be made available in Apple’s App Store and Google Play as well as on the payer’s website.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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