Dublin, Dec. 04, 2020 (GLOBE NEWSWIRE) -- The "Mobile Medical Apps - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Mobile Medical Apps Market to Reach US$20.7 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Mobile Medical Apps estimated at US$4.2 Billion in the year 2020, is projected to reach a revised size of US$20.7 Billion by 2027, growing at a CAGR of 25.5% over the analysis period 2020-2027.
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 an early 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. Accounts for Over 35.7% of Global Market Size in 2020, While China is Forecast to Grow at a 30.8% CAGR for the Period of 2020-2027
The Mobile Medical Apps market in the U.S. is estimated at US$1.5 Billion in the year 2020. The country currently accounts for a 35.69% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.1 Billion in the year 2027 trailing a CAGR of 30.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 20.7% and 24.7% respectively over the 2020-2027 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$2.1 Billion by the year 2027.
Medical Reference Segment Corners a 13.9% Share in 2020
In the global Medical Reference segment, USA, Canada, Japan, China and Europe will drive the 23.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$477.2 Million in the year 2020 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$2.8 Billion by the year 2027, while Latin America will expand at a 27.8% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- AgaMatrix, Inc.
- Airstrip Technologies, Inc.
- AliveCor, Inc.
- Apple, Inc.
- AT&T, Inc.
- Athenahealth, Inc.
- BioTelemetry, Inc.
- Cerner Corporation
- Cisco Systems, Inc.
- iHealth Lab, Inc.
- Medtronic, Inc.
- Nike, Inc.
- Nokia Corporation
- Omron Corporation
- Philips India Ltd.
- Qualcomm Inc.
- Withings
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Mobile Health Apps Gain Interest Amid the Pandemic
- List of COVID-19 Contact Tracing Apps
- MHealth Investments Record Strong Growth in 2020 1H
- Rise in Fitness App Downloads
- 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
- Recent Industry Activity
2. FOCUS ON SELECT PLAYERS
3. 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
- Select New Med Apps
- 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
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 92
For more information about this report visit https://www.researchandmarkets.com/r/116a2l
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