Demand Of mHealth Apps Is Expected To Grow At A CAGR Of 14.3% By 2032

According to Fact.recently MR's published mHealth Apps business analysis report, global sales of mHealth Apps were held at US$ 36.7 Bn in 2021 and are projected to increase at a CAGR of 14.3% from 2022 to 2032.

The anticipated market growth for the years 2017-2021 is much higher than the 11.9% historical average. With an absolute dollar opportunity of around US$ 110.7 Bn between 2022 and 2032, the Medical Apps segment is anticipated to generate the most income.

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The report's list of drivers and restraints serves as a sign of important, useable insights. The strategic profiling of the leading companies in the market is also included in this market analysis report, along with an in-depth analysis of their core competencies and a diagram of the market's competitive environment. The comprehensive MHealth Apps Market research report includes a list of the top rivals, a strategic study of the market, and details on the major driving forces in the sector.

On the back of this, the demand for diet & nutrition related apps is expected to grow at 13.7% CAGR over the assessment period. This is expected to create lucrative growth prospects for the key players in the market, pushing the demand.

Key Takeaways:

• The U.S. is expected to account for more than 1/3rd of total revenues in the global mHealth apps market.
• China is expected to witness impressive growth at 19% CAGR in the global mHealth apps market.
• Sales of mHealth apps in Canada are projected to increase at 18.1% CAGR over the upcoming decade.
• Germany is expected to spearhead the growth in Europe mHealth apps market, with demand increasing at 16.1% CAGR between 2022 and 2032.
• In 2021, the medical apps segment accounted for nearly 97% of revenue in the global mHealth apps market.
• The fitness apps category is expected to register 13.4% CAGR during the assessment period.

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Growth Drivers:

• Prevalence of chronic disorders that required frequent or constant monitoring is predicted to improve the adoption of mHealth apps.
• Increasing focus on developing cost-effective healthcare delivery apps and patient-centric delivery care will drive the demand.

Restraints:

• Increased risk of cyber- and data-theft through mHealth apps is expected to be the key factor limiting the growth in the market.

Competitive Landscape:

With growing reliance on mobile applications for healthcare, the presence of mHealth apps providers is burgeoning at a rapid pace. This has led to increased competition and deployment of technologically advanced mHealth apps. Leading players in the market are also relying on mergers and strategic collaborations to expand their product portfolio and maintain their dominant position in the industry.

For instance,
• In February 2021, Approov, leading creator of advanced API threat protection for mobile applications, announced a webinar that presents new data from research into API-focused mobile attacks and sponsorship for the research.
• In 2020, Google announced the launch of an mHealth app for healthcare studies, allowing researchers and providers to collect data from participants using Android phones.

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Key Companies Profiled by Fact.MR

• AstraZeneca PLC
• Abbott laboratories
• Bristol-Myers Squibb Company
• Pfizer Inc, Allscripts
• AT&T
• Apple Inc
• Sanofi,
• Johnson and Johnson
• Orange
• Google Inc
• Samsung Electric Co. ltd,
• Others

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