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Global mHealth Apps Market to Grow at a CAGR of 17.7% During 2022-2027, Aided by the Rising Awareness of Health and Fitness Among Consumers

According to a new report by EMR titled, ‘Global mHealth Apps Market Report and Forecast 2022-2027’, the market reached a value of nearly USD 40.05 billion in 2020. It is expected to witness a healthy growth in the forecast period, growing at a CAGR of 17.7% between 2022 and 2027 to reach USD 107.77 billion by 2027.

The global mHealth apps industry is being driven by the heightened usage of smartphones among consumers worldwide. This growth can be attributed to the increased digitalisation and the rising accessibility to internet services. Moreover, the growing consciousness concerning health and fitness is leading to a heightened adoption of mHealth apps among consumers, such as fitness apps that suggest exercise routines and help monitor the diet and nutritional intake. In addition, the growing geriatric population, which is more susceptible to infectious diseases, is leading to an increased demand for remote medical assistance.

The rising emphasis of the key market players to develop mHealth apps by applying advanced technological solutions to strengthen their efficiency is expected to positively impact the industry growth in the forecast period. For instance, in February 2020, Johnson and Johnson (NYSE: JNJ) announced the launch of Heartline in collaboration with Apple, Inc. (NASDAQ: AAPL). This virtual study aims to explore the efficiency of Heartline, a study app on the iPhone and the ECG app available on the Apple Watch, along with the irregular rhythm notification feature in reducing the risk of stroke through the early detection of atrial fibrillation. The early detection of an oncoming stroke would help reduce the risk of any adverse consequences and improve the health outcomes of the app. These developments are expected to significantly impact the growth of the mHealth apps industry in the forecast period.

Market Breakup by Type and Region:

  • The market is divided based on type into fitness apps and medical apps. Among these, fitness apps can be further distributed into diet and nutrition apps, exercise and fitness apps, and lifestyle and stress apps. Meanwhile, medical apps can be further categorised into women’s health apps, personal health record apps, medication management apps, diagnostic apps, remote monitoring apps, disease management apps, and others.
  • Region-wise, the global market for mHealth apps can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for mHealth apps is being driven by the increased usage of smartphones and internet facilities worldwide.
  • The growing awareness pertaining to health and fitness is expected to significantly contribute to the market expansion. 
  • The increased population ageing observed globally is also aiding the industry growth. 
  • The COVID-19 outbreak has resulted in increased demand for remote medical assistance globally, which, in turn, is expected to further propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for mHealth apps for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types and regions of mHealth apps.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global mHealth apps market are Abbott Laboratories, Johnson and Johnson, F. Hoffmann-La Roche AG, Novartis International AG, Samsung Electronics Co. Ltd., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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