Market Highlights
The global mHealth applications market has been evaluated as rapidly growing market and it is expected that the market will continue to grow similarly in the near future. Increasing use of mobile and wireless technology to solve various issues related to the healthcare sector is the major driving force for the global mHealth applications market. Continuous growth and advancement of mobile technologies and cellular networks are also major factors for the growth of the mHealth market. Some other factors like rapidly changing technology, emerging economies, and changing healthcare sector are also leading the growth for global mHealth applications market.
The market for mHealth applications is expected to reach US$ 100.21 billion by 2023 which is projected to grow at a CAGR of 32.2% by 2023.
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Major Players in MHealth applications Market:
There are plenty of large and small market players which operate in this market: Allscripts (US), Agamatrix, Inc. (US), Apple Inc. (US), Honeywell International Inc. (US), Medtronic MiniMed, Inc. (US), Vivify Health (US), iHealth Labs Inc. (US).
The competition in the global mHealth applications market is increasing and is getting more intense. Major companies are adopting a specific strategy to enter and create unique space in this market. The different strategies includes, product launch, agreement and collaboration, partnership and expansion, joint venture and strategic alliance etc. All major players are focusing on new product development to provide new and innovative solutions to the market. Innovative and advanced product launch gives them edge over the competitors. Over the past few years, the mHealth applications market is also changing dramatically. All the solutions providers are trying to meet the expectation of consumer that helps them to capture more market share. Some local players are also giving tough competition to the major brands by providing affordable products to the consumers. Major brands are focusing on developing regions like Asia-Pacific to expand their business. In developing nations like China and India, the market for mHealth applications is growing at rapid pace. All the players are trying to grab major market share that makes this market competitive.
Regional Analysis
:
Considering the global scenario of the mHealth applications market, Europe is largest market for mHealth applications, the countries like Germany, France and UK are holding major stake in this market. The Asia-Pacific (APAC) region is witnessing tremendous growth of mHealth applications market. It is fastest growing market and expected to dominate the global mHealth market by 2023. In 2016, North America was holding a reasonable market share in global mHealth applications market. While Middle East and Africa is mHealth applications market is also growing and expected to grow significantly during the forecast period.
Segmentation:
Global MHealth applications Market has been segmented on the basis of type which comprise Monitoring Applications, Diagnosis & Treatment, Education & Awareness, Healthcare Management, Wellness & Prevention, and others.
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