The global mHealth apps market size is projected to reach USD 57.57 billion by 2026. Driven by the increasing number of novel product launches, the market will witness an impressive growth rate in the coming years. According to a report published by Fortune Business Insights, titled “mHealth Apps Market Size, Share & Industry Analysis, By App Type (Disease & Treatment Management, Wellness Management, Others), By Application (Monitoring Services, Fitness Solutions, Diagnostic Services, Treatment Services, Others), By Operating System (Google Play Store, Apple App Store, Others) and Regional Forecast, 2019-2026,” the market was worth USD 11.17 billion in 2018 and will exhibit a CAGR of 21.1% during the forecast period, 2019-2026.
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The report covers :
o Global mHealth apps market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast timeframe.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Leading Players operating in the mHealth Apps Market are :
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Fitbit, Inc.
- Apple Inc.
- Jawbone Health Hub, Inc.
- Omada Health, Inc.
- Livongo Health
- Boston Scientific Corporation
- Omron Healthcare, Inc.
Increasing Number of Product Launches Will Constitute an Increase in Market Size
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches have had the highest impact on market growth. In August 2019, the Department of Veterans Affairs announced the launch of a novel mHealth app. The product was introduced with the aim of helping veterans and providing them with affordable services. This product will encourage other companies as well as public and private organizations alike. Driven by the increasing demand, the market is set to witness significant growth rate in the coming years.
Europe Holds a Dominant Market Share; Increasing Smartphone Penetration to Aid Growth
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, Europe held a dominant market share in 2018, accounting to the increasing smartphone penetration in several countries across this region. Contribution from government as well as private organizations will contribute to the growth of the market in this region. Besides Europe, North America will witness considerable growth rate in the coming years, driven by the presence of several large scale companies. As of 2018, the market in North America was worth USD 3.35 billion and this value is likely to increase further in the coming years.
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