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The global mHealth apps market size is expected to gain momentum by reaching USD 314.60 billion by 2028. This information is published by Fortune Business Insights in its report, titled “mHealth Apps Market Size, Share & COVID-19 Impact Analysis, By App Type (Disease & Treatment Management, Wellness Management, Others), By Application (Monitoring Services, Fitness Solutions, Diagnostic Services, Treatment Services, Others), By Market Place (Google Play Store, Apple App Store, Others), and Regional Forecast, 2021-2028.” The report further mentions that the market stood at USD 24.93 billion in 2020 and is projected to exhibit a CAGR of 34.8% between 2021 and 2028. The increasing demand for fitness apps amid the COVID-19 pandemic is likely to surge the product’s demand worldwide.
Apple Announces Health Record Features in the U.K and Canada
On October 7, 2020, Apple, Inc., one of the leading mobile companies, announced the launch of health records on their trademark iPhones in the U.K. and Canada. The company informs that the feature aids in storing and securing the user’s medical records while protecting their privacy on the phone. Besides, this feature brings together clinics, hospitals, and the existing health app that provides complete user details in one place. In the U.S., around 500 health institutions support Health Records with over 11,000 care locations. The user can gain central access to view their health conditions, lab results, allergies, and vitals across several institutions in their iPhone’s mHealth app.
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Increasing Adoption of Modern Technology to Promote Growth
According to an article published by Sensor Tower Inc., a 46% rise in the downloads of Health & Fitness apps was witnessed across Europe, leading to around 829.5 million downloads in 2020. The growing demand for health apps has led companies to adopt advanced technologies to enhance the features of the apps. For instance, in June 2019, the National Health Service (NHS) introduced an innovative digital health portal. The portal allows the in-house experts to efficiently validate and review several health apps as they are being developed across the agency’s library of applications. Therefore, the increasing focus on adopting modern technology to develop advanced features will contribute to the global mHealth apps market growth during the forecast period.
Prominent Companies Focus on Product Innovation to Strengthen Their Market Positions
The market is experiencing healthy competition among key players that are focusing on developing innovative mHealth apps to cater to the growing consumer demand globally. Moreover, this is expected to aid the companies in expanding their product portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, partnership, and collaboration that will contribute to the growth of the market during the forecast period.
List of the Companies Profiled in the Global Market:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
App Type, Application, Market Place, and Geography
By App Type
By Market Place