According to Fact.MR released mHealth Apps business study report, global sales of mHealth Apps in 2021 were held at US$ 36.7 Bn and are predicted to expand at a CAGR of 14.3% between 2022 and 2032. The estimated market growth rate is much greater than the historical average of 11.9% from 2017 to 2021. The Medical Apps segment is predicted to generate the most income, with an absolute dollar opportunity of roughly US$ 110.7 Bn between 2022 and 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
- Medical Apps
By Region type
- North America
- Latin America
- South Korea
- South Africa
- Saudi Arabia
- North America
The increased acceptance and implementation of mHealth apps has created a competitive environment among industry players. Furthermore, the main firms’ fundamental strategies of mergers, partnerships, and acquisitions are expected to increase market expansion and competitiveness. To maintain their dominance in the sector, the big players are concentrating their efforts on developing cost-effective healthcare mobile applications that fulfil the expectations of consumers. As a result of the leading companies’ developments, the market for mHealth is predicted to grow quicker in the next years.
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:
- Pfizer funded the MyCancerGuide App in January 2022 to accelerate the global adoption of telehealth. This app would help with breast and cervical cancer detection.
- BrightInsight and Sanofi announced a cooperative collaboration in January 2022 to bring Sanofi’s best-in-class software as a medical device with next-generation digital companion application to market.
- Merck & Co. acquired Acceleron Pharma for $11.5 billion in November 2021, gaining rights to Acceleron’s primary therapeutic candidate. This was expected to be the largest healthcare industry transaction in 2021.
- Teladoc Health Inc teamed with Vivo in May 2021 to improve the local population’s access to quality healthcare in Brazil via its virtual care platform.Similarly, recent developments related to companies offering mHealth Apps have been tracked
What was the impact of COVID-19 on the mHealth Apps Market?
The COVID-19 outbreak has had an impact on the market’s ongoing trends and introduced a new dimension to it. Government and non-governmental organisations supported the usage of mHealth Apps to raise public awareness. These apps were widely used for symptom self-management, remote monitoring, contact tracing, and training individuals to control the epidemic.
During the pandemic, the expansion of mHealth Apps would not be restricted to covid patients alone, but would also include patients with chronic illnesses who converted to digital consultations as a strategy to prevent the spread through physical visits. As a result, the market for mHealth Apps grew at a CAGR of 12% and 12.3% during the pandemic years (2020-2021), respectively, compared to 11.4% growth during the pre-pandemic years.