Dublin, April 19, 2023 (GLOBE NEWSWIRE) -- The "Mobile Medical Apps: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Mobile Medical Apps Market to Reach $42.5 Billion by 2030
In the changed post COVID-19 business landscape, 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$42.5 Billion by 2030, growing at a CAGR of 26.1% over the analysis period 2022-2030.
Medical Monitoring, one of the segments analyzed in the report, is projected to record a 25.5% CAGR and reach US$10.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Nutrition & Fitness segment is readjusted to a revised 29.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 31.1% CAGR
The Mobile Medical Apps market in the U.S. is estimated at US$2.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$4.7 Billion by the year 2030 trailing a CAGR of 31.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 20.9% and 25% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 23.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.5 Billion by the year 2030.
Looking Ahead to 2023
Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers.
Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 573 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $6.6 Billion |
| Forecasted Market Value (USD) by 2030 | $42.5 Billion |
| Compound Annual Growth Rate | 26.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Mobile Health Apps Gain Interest Amid the Pandemic
- List of COVID-19 Contact Tracing Apps
- Fitness App Downloads Grow
- Rise in Apps Developed for Contact Tracing
- Mobile Health Transforms Healthcare Industry
- Mobile App Development Trends in Healthcare
- Outlook
- Apps Find Favor Among Medical Professionals
- Developing Countries to Lead Growth in Future
- Reference Apps Bring in Digital Revolution in Healthcare Sector
- Barriers to Adoption of Mobile Medical Apps
- Concerns over Security & Compliance
- Patient Information Security: A Major Constraint
- Medical Apps Lack Clinical Involvement
- Potential Risk of Medical Apps in Clinical Settings
MARKET TRENDS & DRIVERS
- Integration of AI in Mobile Health Apps
- Optimizing Blockchain Technology to Deliver Efficient Health Care
- Prominence of Big Data in Mobile Health Applications
- Impact of Internet of Things (IoT) on the Mobile Health Care Industry
- Eminence of Cloud-based apps in the Mobile Health Care Industry
- AR\VR Technology to Play a Significant Role
- Apps Favored over Mobile Websites
- Growing Role of Telemedicine
- Video Consultation Apps on Rise
- Inclination of Young Consumers Towards Digital Health Technology: Opportunity in Store
- Fitness Apps Gain Interest Amid Growing Health Consciousness
- Rising Healthcare Costs Drive Significance of Mobile Medical Apps
- Chronic Diseases Management and Associated Costs Drive Medical Apps Adoption
- Emphasis on Remote Patient Monitoring Bodes Well for Mobile Medical Apps Market
- Ballooning Global Population Offers Significant Growth Opportunities
- Shortage of Medical Professionals: Mobile Medical Apps Come to the Rescue
- Smartphone Penetration & Declining Price of Connected Devices Drive Adoption of Health and Fitness Apps
- Increasing Ownership of Mobile Devices among Medical Professionals - A Business Case for Mobile Apps Market
- Expanding 5G Connectivity to Drive Adoption of Mobile Medical Apps
FOCUS ON SELECT PLAYERS (Total 92 Featured)
- Abbott Laboratories
- AliveCor
- Allscripts Healthcare Solutions
- AstraZeneca PLC
- Athena Health
- Azumio
- Boston Scientific Corporation
- Bristol-Myers Squibb Company
- CoheroHealth, LLC
- DarioHealth
- F. Hoffmann-La Roche AG
- Fitbit, Inc
- GlaxoSmithKline plc
- Health Arx Technologies Pvt Ltd
- Johnson and Johnson
- Medtronic Plc
- Merck and Co., Inc
- MetaOptima Technology Inc
- Novartis AG
- NuvoAir AB
- Pfizer, Inc
- Sanofi S.A
- SkinVision BV
- WebMD Health
For more information about this report visit https://www.researchandmarkets.com/r/juli0x
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