The growing adoption of smartphones, increasing penetration of 3G/4G networks, rising focus on cost containment in healthcare delivery, and the increasing demand for home healthcare services are some of the key factors driving the growth of this market.
The report mHealth Solutions Market is projected to reach USD 213.6 billion by 2025 from USD 50.8 billion in 2020, at a CAGR of 33.3 % during the forecast period.
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Based on product and service, the Mobile Health Apps Market segment accounted for the largest share of the mHealth solutions market in 2019. The large share of this segment can be attributed to the high and growing penetration of smartphones and healthcare apps and the rising incidence of chronic and lifestyle-related diseases across the globe (coupled with the effective utilization of apps in chronic disease management).
Key Market Drivers :-
1 Increasing Penetration of Smartphones, Tablets, and Other Mobile Platforms
2 Increasing Utilization of Connected Devices and mHealth Apps for the Management of Chronic Diseases
3 Cost Containment in Healthcare Delivery
4 Robust Penetration of 3G and 4G Networks for Uninterrupted Healthcare Services
5 Rising Focus on Patient-Centric Healthcare Delivery
6 Increasing Demand for Home Healthcare Services
Based on region, the Medical Apps Market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest market share in 2019.
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Top Key Players:-
The prominent players in the Mobile Health Apps Market are Medtronic plc (Ireland), Apple, Inc. (US), AirStrip Technologies (US), AliveCor, Inc. (US), Nike, Inc. (US), Koninklijke Philips N.V. (Netherlands), Johnson & Johnson (US), Omron Corporation (Japan), BioTelemetry, Inc. (US), athenahealth, Inc. (US), AgaMatrix, Inc. (US), Withings S.A. (France), and iHealth Labs, Inc. (US).