The global mHealth apps industry size was USD 24.93 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with mHealth apps witnessing a significant positive demand shock across all regions amid the pandemic. The market is estimated to register USD 38.89 billion in 2021 and is expected to reach USD 314.60 billion in 2028 with a CAGR of 34.8% in the 2021-2028 period. The sudden drop in CAGR is attributable to the market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
In the era of fast-streaming videos and mobile applications for almost any and everything, the need for electronic health arises. Modern health technologies have mustered its way into providing healthcare assistance to patients at their homes with the convenience of receiving instant feedback from doctors. The surge in technological advancements contemporaneous with healthcare has given amplification to the process of healthcare models such mHealth Apps industry or mHealth. Moreover, as smart devices and health bands become prevalent among millennials, it won’t be late until every individual starts consuming mobile health for monitoring and managing their health.
How is mHealth Different from Conventional Healthcare?
mHealth can be defined as medical assistance or medical practice through gadgets, including mobile devices, monitoring devices, and other wireless devices. However, there is no accurate or standardized definition of mHealth, but the purpose remains the same, that is delivering healthcare aid through any digital platform. The medical practitioners are looking forward to assessing the platform better to treat patients remotely. The advantages of mHealth, including its versatility in the improvement of monitoring patterns of patients, will simultaneously aggravate the conventional ways of healthcare. The new aspect of healthcare has given prospects for real-time health analytics in the homecare environment. This has relatively made a deterioration in hospital admissions and thus specified visions for treating at-risk patients. The snowballing of smartphones and the high employment of mobile applications will increase operations for mobile health. For instance, as per The US Food and Drug Administration (FDA), an estimate of 500 million people on a global level are using mobile healthcare applications, and the number is likely to increase in the foreseeable future. There is an omnipresence of millions of apps currently, which can connect the patient to a healthcare specialist, giving impetus to the mobile healthcare industry. Now patents can, in actuality, chat with healthcare practitioners and describe their situation without the need to stand in a long cue for hospital admissions. As per the Fortune Business Insights report, the global mHealth apps market size is predicted to reach USD 57.57 billion by 2026, exhibiting a CAGR of 21.1%,
Counting the Rewards!
- Enhanced Monitoring and Intensive Care: The advantage of communication with doctors through mobile health applications has taken limelight among patients. Now the patients don’t have to get worked up about going to a healthcare facility, and they can simply use the mHealth app to converse with the doctor and get solutions. This also helps the doctor to intervene and thus provide assistance to the patients in need. Moreover, the improved and enhanced care through mHealth has enabled practitioners to scrutinize and support patient in-real time.
- Instantaneous and Spontaneous Information Sharing: Electronic communication through devices has not only fast-tracked the education system but also given a safe space for the exchange of information in medical science. This has led to a cut-down and reduction in paper waste and other supply costs of the healthcare facilities. Moreover, the storage of cloud information has facilitated both doctors and patients in an efficient and safe work environment.
Reflecting on the Dark Technological Fears
There have been discussions about the pros and cons of technology, admitting to how we have perceived and reciprocated to the establishment of technological advancements. With the growing use of smartphones and smart devices, the fear of cybercrimes is flustering. Although healthcare professionals and doctors are taking a considerable deal in instituting a safe cyber environment for the patients and the practitioners. Additionally, app developers are perpetually working on app security to eliminate data breach and other misdemeanors. Nonetheless, the implications of mobile applications will urge companies to ensure safe information superhighway for the people.