Growth of the "mHealth App Market" Appears Positive with Increasing Investments in Wearable Tech Startups

The global mHealth Apps Market is expected to reach USD 111.8 billion by 2025, growing at a CAGR of 44.2%, according to a new report by Grand View Research, Inc. The need to reduce long waiting periods in order to access health care facilities from specialists is the primary driver responsible for the adoption of mHealth.

The availability of applications for consumers are continuing to grow rapidly, especially healthcare apps. These applications assist users in self-management of wellness, disease and chronic abnormalities. This has led to the patient - playing an important and active role in staying informed and updated on their own healthcare decisions, contributing to the rise in adoption of mHealth apps globally.

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Healthcare is gradually transitioning towards a precision-based model, better known as a “personalized medicine” model. mHealth is becoming a widespread trend due to the introduction of technologies such as EMR, remote monitoring, and other communication platforms.

mHealth leverages the 4Ps of healthcare delivery, that is personalized, predictive, participatory, and preventive, to ensure delivery of optimal care to its users. In addition, growing penetration of smartphones, especially in low- & middle-income countries and growing focus on utilizing mobile technology to leverage healthcare delivery and ensure a population health plan is anticipated to benefit the market.

Further Key Findings From the Report Suggest:

• North America accounted for the largest market share owing to its focus toward implementing a successful population health strategy, to reduce healthcare costs
• Fitness apps account for the largest market share among other mHealth app categories
• mHealth app vendors are focusing their attention on women's health, diet, and medication reminders. According to Wired, a mobile advertising and analytics platform, women are more inclined toward tracking their health than men
• Physicians are increasingly recommending usage of mHealth apps to their patients, which is likely to increase the adoption rate of mHealth apps
• Some of the major market participants in the mHealth apps market are Abbott Laboratories; Johnson & Johnson; AstraZeneca; F. Hoffmann-La Roche AG; Novartis AG; Bristol-Myers Squibb Company; GlaxoSmithKline plc; Merck and Co., Inc.; Pfizer; and Sanofi.

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