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mHealth Apps & Solutions Market Worth $20.7 Billion by 2018
Date:9/5/2013

maximum smartphone apps. Free apps constitute almost 90% of the download market of healthcare applications. Furthermore, significant price difference between health and medical apps lowers the adoption rate among healthcare professionals. Though the number of downloads of health apps contributed almost 90% to the healthcare applications market, revenue contribution by these apps was not significant due to its very low average price range ($1 - $2/download). Consideration of a mobile application as a medical device is also a questionable issue, although the FDA is formulating a framework to regulate the apps market. As of now, there are a few certified applications in the unstructured gamut of the application market. Rising popularity may increase the download price of device-independent healthcare apps; hence, the revenue contribution to the mHealth Apps & Solutions Market is expected to be more significant.

Major driving factors of the mHealth market include the growing adoption of smartphones, tablets, and PDA, increasing awareness of chronic diseases management, advanced connectivity such as Bluetooth, Wi-Fi, robust penetration of 3G and 4G network, and a promise of better cost efficiency during medical practices. On the other hand, stringent FDA and EU regulations, and data insecurity restrict market growth. Inappropriate patient-doctor ratio in underdeveloped countries and other potential mHealth platforms such as smart TV promises prospective business opportunities in the global mHealth market.

Since its inception (21st century), North America has contributed the maximum to both the devices and applications markets. The Asian mobile healthcare market is majorly contributed to by Japan and China, whereas the U.K. represents the most promising country in Europe. Several government initiatives such as mDiabetes, Indo-Dutch Project Management S
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SOURCE MarketsandMarkets
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