The newly-released mHealth Apps industry analysis report by Fact.MR shows that global sales of mHealth Apps in 2021 was held at US$ 36.7 Bn and is expected to grow at a CAGR of 14.3% during the period from 2022-2032. The projected market growth is significantly higher than the historical average of 11.9% during the period of 2017-2021. The Medical Apps segment is expected to be the highest revenue generating segment, accounting for an absolute dollar opportunity of nearly US$ 110.7 Bn during 2022 – 2032.
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Market Segments Covered in mHealth Apps Industry Analysis
By Product Type
- Medical Apps
- Women’s Health Apps
- Personal Health Record Apps
- Medication Management Apps
- Diagnostic Apps
- Remote Monitoring Apps
- Disease Management Apps
- Other Medical Apps
- Fitness Apps
- Diet & Nutrition
- Exercise & Fitness
- Lifestyle & Stress
By Region type
- North America
- Latin America
- South Korea
- South Africa
- Saudi Arabia
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The growing acceptance and deployment of mHealth apps has fostered a competitive atmosphere among industry participants. In addition, the major companies’ core tactics of mergers, collaborations, and acquisitions are predicted to boost market expansion and increase rivalry. To maintain their dominant position in the industry, the major players are focusing on producing cost-effective healthcare mobile applications that meet the needs of consumers. As a result, the market for mHealth is expected to grow faster in the next few years as a result of the innovations made by the major players.
The major competitors in the mHealth Apps Industry are Airstrip technologies 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, Teladoc Health Inc., Qualcomm Technologies Inc, GlaxoSmithKline Plc, Merck & Co. Inc, F. Hoffmann-La Roche Ltd., Novartis AG, etc
Some of the key developments in the mHealth Apps industry being channelised by market players are as follows:
- In Jan 2022, Pfizer has sponsored the MyCancerGuide App for fast-tracking the adoption of telehealth globally. This app would facilitate the early detection of breast and cervical cancer.
- In Jan 2022, a joint partnership of BrightInsight and Sanofi was announced to bring to the market Sanofi’s best in class software as a medical device with next generation digital companion application.
- In Nov 2021, Merck & Co. acquired Acceleron Pharma for $11.5 Bn and gained rights over Acceleron’s lead therapy candidate. This was considered to be largest healthcare industry deal of 2021.
- In May 2021, Teladoc Health Inc partnered with Vivo to improve the local population’s access to quality healthcare in Brazil through its virtual care platform.
- In January 2021, Abbott released NeuroSphere, a digital health app that tracks and reports on patient perceptions of pain alleviation and general well-being with the help of spinal cord stimulation therapy.
Similarly, recent developments related to companies offering mHealth Apps have been tracked by the team at Fact.MR, which are available in the full report.
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What was the impact of COVID-19 on the mHealth Apps Market?
The COVID-19 outbreak has impacted the ongoing trends of the mHealth Apps market and added the new dimension to it. Government and Non-government organisations promoted the use of mHealth Apps for creating awareness among the public. These apps were widely being used for self-management of symptoms, remote monitoring, contact tracing and training the people for controlling the pandemic.
The expansion of mHealth Apps during the pandemic is not limited to the covid patients only but would include the patients with chronic ailments who switched to digital consultations as a way to prevent the spread through physical visits. This way the market of mHealth Apps was able to grow at CAGR of 12% and 12.3% in the pandemic years (2020-2021) as compared to 11.4% growth during the non-pandemic years.
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