World mobile medical apps market to reach $16.6B by 2026

A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Mobile Medical Apps – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Global mobile medical apps market to reach US$16.6 billion by the year 2026
Healthcare apps have been garnering a significant traction on account of their ability to assist people in dealing with various health issues anytime, anywhere. The trend has paved way for healthcare apps on mobile platforms or mHealth apps that hold immense potential to share the future of the healthcare industry and associated service delivery. Growth in the global market is set to be driven by the convergence of a number of favorable trends such as integration of healthcare apps and devices. Growth in the market is driven by rising adoption of smart gadgets in the healthcare industry, increasing availability of advanced networks and connectivity solutions and growing awareness about chronic disease management. Specifically, the increasing adoption of smartphones and tablets and expanding networks of 4G/5G connectivity platforms for healthcare services presents positive growth opportunities for the market. Adoption levels are also on rise owing to the promise of higher cost efficiency offered by mobile health app and solutions, which support activities of medical professionals. Mobile medical apps are benefiting immensely from advances in mobile phone technologies, with the result mobile devices are now capable of handling some of the most complex tasks. Continuous increase in the number of care facilities and medical professionals relying on a range of medical apps for constant monitoring of patients is expected to foster growth. The market also stands to benefit from the increasing use of medical apps for remote patient health monitoring.

Amid the COVID-19 crisis, the global market for Mobile Medical Apps estimated at US$6.6 Billion in the year 2022, is projected to reach a revised size of US$16.6 Billion by 2026, growing at a CAGR of 25.5% over the analysis period. Medical Monitoring, one of the segments analyzed in the report, is projected to grow at a 25.3% CAGR to reach US$5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nutrition & Fitness segment is readjusted to a revised 28.6% CAGR for the next 7-year period. This segment currently accounts for a 35.4% share of the global Mobile Medical Apps market.

The U.S. market is estimated at $2.3 billion in 2022, while China is forecast to reach $1.6 billion by 2026
The Mobile Medical Apps market in the U.S. is estimated at US$2.3 Billion in the year 2022. The country currently accounts for a 35.69% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$1.6 Billion in the year 2026 trailing a CAGR of 30.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 20.7% and 24.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 23.6% CAGR while Rest of European market (as defined in the study) will reach US$1.1 Billion by the close of the analysis period. Global market for mobile healthcare app and solutions market is dominated by the US and Europe, primarily due to the growing awareness about healthcare and increasing focus on better management of chronic diseases. A key factor driving growth in the US mobile medical apps market is high level of convenience offered to care givers as well as patients. Growth in China and India is being driven by the vast patient population and continuous rise in government funding for healthcare services. In under-developed economies, the low patient-doctor proportion and the subsequent adoption of mHealth services and solutions presents significant opportunities for the mobile health apps market.

Medical reference segment to reach $2.2 billion by 2026
In the global Medical Reference segment, USA, Canada, Japan, China and Europe will drive the 23.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$477.2 Million will reach a projected size of US$2.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$262.2 Million by the year 2026, while Latin America will expand at a 27.8% CAGR through the analysis period. Global Industry Analysts Inc.