Mobile Medical Applications Market Report Overview
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The global mobile medical applications market size was USD 5393 million in 2021 and is expected to reach USD 41359.94 million in 2031, at a CAGR of 22.3% during the forecast period.
Mobile Medical Applications are software programs that run on smartphones and other mobile communication devices. Currently, patients are using conference calls and live consultation features on smartphones. This could be a dominant application that has nurtured the demand of the mobile medical applications market. An increase in the inhabitants of smartphone users and the awareness of medication management apps, especially among patients in emerging nations, is expected to offer momentous profitable opportunities for the market players. Smartphone and mobile apps are largely used in areas of healthcare such as health education, health management, and health information process. Various mobile phone apps have developed to monitor the health of the patients. Healthcare industry has shown the need of innovative technologies. The key convincing proposition is the potential of mobile medical apps in the management of chronic disease. Moreover, patients alone will be using numerous mobile applications to track their health physical and mental count calories, lose weight, shift to healthy foods or drink enough water. Increasing uses of ultraviolet LEDs in the medical sector are another factor likely to produce new potentials in the market. Moreover, the development of mobile medical applications to monitor patient health and to provide support to physicians for executive are anticipated to enhance sector growth in terms of proceeds over the ages. Growing emphasis on the adoption of a healthy lifestyle and increasing the use of wearable devices, tablets, and smartphones to access health apps is motivating the sector. Most illnesses and chronic conditions van be virtually screened worldwide. Investment in health start-ups has increased motivation which as further boosted the demand for the market. There is always prospect for businesses and their leaders who can plan a path forward with elasticity and flexibility.
COVID-19 Impact: Pandemic hampered the market due to unexpected disruption in the sector
The global COVID-19 pandemic has been unprecedented and staggering, with mobile medical applications market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over.
COVID-19 pandemic has tremendously affected the entire world. The pandemic has led to significant changes in consumer behaviour, with more individuals spending online and selecting health and safety. Due to outbreak of COVID- 19 travel restriction and social distancing measures have resulted in massive slowdown of supply chain, growing anxiety among population and falling of business. The negative impact of COVID-19 pandemic had a huge disruption on healthcare domain from supply chain, raw material to manufacturing and delivery.
Latest Trends
"Technological advancement to boost the market growth "
High implementation of advanced technology and the existence of large players in county are likely to create abundant growth prospects for the market. Technological improvement and growth will further enlarge the presentation of the product. Developments in technology have led to the expansion of new and better-quality materials contributing market growth. Team up with other firms can lead to the enlargement of new products, services, technologies that can help to motivate growth and income. Some players focus on product improvement to meet consumer requirements and likings.
Mobile Medical Applications Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into epocrates, medscape mobile, radiology, nursing central, care360 mobile, stat ICD-9 lite, netter's atlas of human anatomy, emr App
Epocrates capture the maximum market share through forecast period.
- By Application Analysis
According to application, the market can be segmented into nursing tools, drug references, study tools, medical reference, and clinical support systems
Mobile medical applications market players cover segment as nursing tools will dominate the market share during forecast period.
Driving Factors
"Growing usage of mobile medical apps to upsurge the market growth"
Growing number of references from healthcare professionals to practise mobile applications for better patient care is a reason anticipated to boost mobile medical app adoption. Mobile medical apps have become one of the significant needs across the world. Mobile apps are largely used in areas of healthcare such as health education, health management, data management, and health information.
"Increase in recent technology to register substantial growth rate"
Recent technology boosts the mobile medical application market as it helps to save time and proves much beneficial in providing medical care to patients in remote areas. The growing number of health applications and continuous improvement of the app quality by the developers is also anticipated to boost the growth of the market. Taking appointments online is easier than using old fashioned method of booking offline.
Restraining Factors
"Lack of guidance to hamper the market growth"
The slight supervision from physicians in choosing apps hinders mobile medical applications market growth. Lack of appropriate standards and guidelines to obstruct the market in the extended course. Some healthcare specialists feel operating this apps is time consuming with restricted or no medical benefits. Patients typically find difficult to look for healthcare apps due to lack of guidance from doctors.
Mobile Medical Applications Market Regional Insights
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"North America to dominate the region due to growing demand"
North America is further expected to witness growth in mobile medical applications market share. The region is anticipated to witness major growth over the forecast period due to growing focus on improved and innovative technology. Increasing demand for remote medical assistance especially elderly population can boost the market growth rate in the region. North America is probable to embrace the leading share in mobile medical application market as a result of technological developments in the region.
Key Industry Players
"Key players focus on partnerships to gain competitive advantage."
The key players are enthusiastically contributing in strategic events that are aimed at upholding strong market position and growing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They outlay strictly on research and development in order to arise with more new technology so that they can maintain and progress their existing market. The market modifications are dynamic such as market expansion, partnership and merger.
List of Market Players Profiled
- Abbott Laboratories (U.S.)
- AliveCor (U.S.)
- Azumio (U.S.)
- Allscripts Healthcare Solutions (U.S.)
- Athena Health (U.S.)
Report Coverage
The report provides examination and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent expansion analysis are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers nationwide and regional level market size and forecast. The report gives businesses the ability to research new outlook in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 5393 Million in 2021 |
Market Size Value By |
US$ 41359.94 Million by 2031 |
Growth Rate |
CAGR of 22.3% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the mobile medical applications market expected to touch by 2031?
Mobile medical applications market is expected to touch USD 41359.94 million by 2031.
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What CAGR is the mobile medical applications market expected to exhibit during 2024-2031?
Mobile medical applications market is expected to exhibit CAGR of 22.3% during 2024-2031.
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What are the driving factors of the Mobile Medical Applications Market?
Mobile apps are largely used in areas of healthcare such as health education management, data management, and health information are the driving factors of the Mobile Medical Applications Market.
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Which are the key players or most dominating companies functioning in the Mobile Medical Applications market?
The dominating companies in the Mobile Medical Applications market are LEO Pharma, Allergan, Bausch Health, Sanofi, and Glenmark Pharmaceuticals.