Mobile health apps to grow 14.3% CAGR by 2032: report

The global mHealth Apps market reached USD 36.7b in 2021.

The global mHealth Apps market is anticipated to generate a compound annual growth rate (CAGR) of 14.3% from 2022 to 2032, with a USD 36.7b in 2021.

"This projected growth surpasses the historical average of 11.9% observed during the period from 2017 to 2021. Notably, the Medical Apps segment is poised to emerge as the most lucrative, presenting an absolute dollar opportunity of approximately US$ 110.7b from 2022 to 2032," said Fact.MR in its report.

The driving factors behind its growth are:

The widespread adoption of smartphones and other mobile devices has created a large user base that can access health-related apps and services, making mHealth solutions more accessible to the general population. Moreover, technological innovations, such as improved processing power, better connectivity, and enhanced sensors, have enabled the development of more sophisticated and accurate mHealth applications.

The continuous rise in healthcare expenses has prompted a heightened emphasis on strategies that prioritize prevention and remote healthcare interventions. Mobile health (mHealth) plays a pivotal role in addressing this need by offering a range of solutions, including remote monitoring, telehealth consultations, and personalized health management.

The aging population in North America has increased the demand for healthcare services. mHealth can help cater to the healthcare needs of the elderly by providing remote monitoring, medication management, and telemedicine services.