Category : Healthcare and Pharmaceuticals | Published at : February-2021 | Delivery Format : PDF | Status: Published | Pages : 190
The market for mobile medical application is expected to grow at a CAGR of around 27.3% from 2020 to 2027 and expected to reach the market value of around US$ 24.4 Bn by 2027.
Mobile medical applications are software applications developed for medical purposes especially these include home medical monitoring systems, medical databases for healthcare professionals, reminders and alerts for medication, and other medical needs. These allow healthcare providers to effectively streamline communication between patients, providers, and respective caregivers along with the 24/7 management of the patient’s condition with the ability to personalize healthcare per patient.
Market Dynamics
The advantages like medical applications empower patients with information and management of their own health, help in cost reduction and increases access throughout the system, and promote outcome improvement through improved decision-making are driving the market growth. The rising awareness among the public regarding the benefit of healthcare management, increasing need for point-of-care diagnosis and treatment, growing focus towards personalized medicine, and increasing investment in health startups are driving the market growth. Furthermore, the development of advanced technologies in the healthcare industry is additionally proliferating the market value. Moreover, rapid advancement in Platform in medical apps and favorable research activities are projected to create potential opportunities over the forecast timeframe.
On the other side, stringent regulations are risks associated with the breach of data privacy are projected to hinder the growth to an extent over the forecast timeframe from 2020 to 2027.
Segment Instance of Mobile Medical Application Market
Clinical or assistance in diagnosis is leading in the mobile medical application market
Clinical or assistance in diagnosis segment by application is having a potential share in the mobile medical application market. The increasing usage of mobile apps by healthcare professionals for better examination and profiling the medical condition of people in order to prescribe the most effective medication is supporting the segmental market value.
North America accounted for the maximum revenue share in the Mobile Medical Application market
In 2019, North America leads the market with maximum revenue share (%), and the region is also projected to maintain its dominance over the forecast timeframe from 2020 to 2027 in the mobile medical application market. The early development and adoption of Platform in the market by the healthcare providers as well as payers is boosting the regional market value. The presence of major players in the major economies of the region US and Canada is another factor supporting the regional market value. The well-established healthcare infrastructure is further contributing to the dominating market value.
Asia Pacific is the fastest growing mobile medical application market in near future
Asia Pacific is estimated to register the fastest growth over the forecast period from 2020 to 2027. The rapidly developing economies of the region are boosting the investment in the healthcare sector which is supporting the regional market growth. The increasing discretionary income of people which is boosting the investing power of people in the region is further propelling the regional market value. The increasing number of android users with sufficient data packs is additionally propelling the regional market value.
Key Market Players
The players profiled in the report include AT&T, Inc. Athenahealth, Inc., Biotelemetry, Inc., Cerner Corporation, Cisco Systems, Inc., Johnson & Johnson, Lifewatch Ag, Medtronic PLC, Omron Corporation, Philips Healthcare, and others.
Market Segmentation
Market By Category
Care Management Apps
Medical Monitoring Apps
Health and Wellness Apps
Women Health Apps
Medication Management Apps
Others
Market By Subscription
Free Subscription
Fee-Based Subscription
Market By Platform
Android
iPhone
iPad
Blackberry
Windows
Market By Application
Clinical or assistance in diagnosis
Remote monitoring
Reminders and alerts
References
Market By End-User
Residents
Physician
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The market for mobile medical application is expected to reach a market value of around US$ 24.4 Bn by 2027.
The mobile medical application market is expected to grow at a CAGR of around 27.3% from 2020 to 2027.
Clinical or assistance in diagnosis is the leading segment by application in the mobile medical application market
The advantages like medical applications empowers patients with information and management of their own health, help in cost reduction and increases access throughout the system, and promote outcome improvement through improved decision-making, rising awareness among the public regarding the benefit of healthcare management, , increasing need for point-of-care diagnosis and treatment, growing focus towards personalized medicine, increasing investment in health startups, and development of advanced technologies in the healthcare industry are some of the prominent factors driving the market growth.
AT&T, Inc. Athenahealth, Inc., Biotelemetry, Inc., Cerner Corporation, Cisco Systems, Inc., Johnson & Johnson, Lifewatch Ag, Medtronic PLC, Omron Corporation, Philips Healthcare, and others are the prominent players in the market.
North America held the highest market share in the mobile medical application market
Asia Pacific is expected to be the fastest growing market over the forecast period
