Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Recent Trends and Developments in the Market
Introduction to Mobile Medical Apps
The growing use of smartphones by people for performing various daily tasks has introduced the concept of medical mobile applications that allow easy management of a number of diseases and chronic disorders. These apps are designed to perform several tasks such as disease monitoring, diagnosis and treatment recommendations. In addition to this, they keep health records of the patients as a result of which they are even used by healthcare providers. They can be downloaded and accessed on mobile phones or smart tablets.
Along with the patients, medical software applications can be used by healthcare professionals in order to obtain information about medical drugs and other data through reference apps. Since medical apps perform serious functions related to improvement of the patient’s health, they are required to be approved by the FDA in order to prevent major health risks to their users.
Market Size and Forecast
Rapid advancements in software technology for smartphones has led to the development of apps for the management and monitoring of health disorders such as diabetes, cardiovascular, neurological and respiratory among others.
The mobile medical apps market is anticipated to record a CAGR of around 35% over the forecast period i.e. 2019-2027. The market is segmented by service, by therapeutic applications, by end user and by region. On the basis of end user, the market is further bifurcated into healthcare providers and patients, out of which, the patients segment is anticipated to hold the largest share in the mobile medical apps market on account of increasing demand and usage of mobile applications for various healthcare services by people with health disorders. The rising trend of self-management and treatment of diseases by patients is estimated to raise the demand for mobile medical apps by a significant level. Centers for Disease Control and Prevention (CDC) predicted that about 1 in every 3 adults would have diabetes by the year 2050. This could be easily prevented with timely diagnosis and appropriate self-management of the disorder. Mobile applications pertaining to provide such facilities are thus anticipated to increase in the market during the upcoming years.DOWNLOAD SAMPLE REPORT HERE
Growth Drivers
Growing Demand For Mobile Apps In The Healthcare Industry To Propel The Market Growth
Growing adoption of devices such as smartphones and smart tablets by the population along with the development of applications for various purposes is a factor estimated to result in the market growth. Mobile applications for healthcare services are able to effectively guide the patients and provide diagnosis and treatment suggestions to the users. The ease of using mobile apps for management of health disorders is another factor anticipated to boost the demand for mobile health apps in the upcoming years.
Improvements In mHealth Sector To Boost The Growth Of Mobile Medical Apps Market
Technological advancements in the healthcare industry are anticipated to give rise to development of applications that provide better healthcare assistance and thus improve the quality of mhealth apps globally. This is an additional growth factor for the mobile medical apps market.
Restraints
FDA Approval Required For Certain Types Of Mobile Health Apps
The stringent government policies for the approval of mobile medical applications catering to serious medical conditions is a key restraining factor for the market as it limits the availability of mobile apps for healthcare services.
Market Segmentation
Our in-depth analysis of the mobile medical apps market includes the following segments:
By Service
By Therapeutic Applications
By End User
By Region
On the basis of regional analysis, the mobile medical apps market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The highest growth rate of the market during the forecast period is anticipated to be observed in the Asia Pacific region on account of growing consumer awareness about mobile applications for healthcare services and a rise in population that demands for improved mobile medical apps. The market in Europe is estimated to observe a significantly high growth rate which can be attributed to increasing usage of mobile apps for healthcare and fitness as well as increasing availability of medical apps for smartphones. The market in North America is estimated to hold the leading share in mobile medical market as a result of technological advances in the region.
The mobile medical apps market is further classified on the basis of region as follows:
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