Major factors driving the mHealth Apps Market include growing adoption to track health and vital signs, increased penetration of mobile devices (smartphones, tablets, and other personal digital assistants), increased use of wireless network devices, and increased adoption of advanced technology in health care facilities, according to Absolute Market Insights (www.absolutemarketinsights.com).
The r\Release of Apple, Xiaomi, and Fitbit wearable devices will have a positive impact on market growth, adds the research group. Business growth seems optimistic with rising demand and wearable tech companies investing money. For starters, these new businesses are focused on mHealth classes, women’s health, personal safety, and hydration tracking, which ensure energizing opportunities for the global market.
The growing use of mobile devices by health professionals has changed different aspects of clinical practice. As a result, medical software applications for such platforms have been developed significantly, says Absolute Market Insights. Mobile devices and apps offer healthcare professionals several benefits. They include improved access to point-of-care tools that support enhanced clinical decision-making and improved patient results.
However, opportunities and threats have emerged with the rapid technological advances in mHealth research and development, says Absolute Market Insights. These include the creation of scalable systems that collect unparalleled data amounts and take action and at the same time protect researchers ‘ safety and privacy. In the following years, the industry could be struck by stringent regulation policies for mHealth applications.
Absolute Market Insights says that some of the other factors responsible for the growth of mHealth apps market include low cost and convenience of medical devices, technological innovations, and the convergence of wireless technology & mobile accessibility, government initiatives and rising lifestyle diseases. Factors such as lower acceptance due to accuracy concerns, limited reimbursement coverage, technical knowledge, and ambiguity in government regulations are somewhat restricting the market growth.
Absolute Market Insights says the global mHealth app market was valued at US$12.2 billion in 2018 and is expected to reach $244.7 billion by 2027, growing at an estimated compound annual growth rate of 39.5% over the forecast period.