COVID-19 Latest Update: Impact on mHealth Apps in Healthcare Industry
COVID-19 outbreak has also made healthcare professionals to look for alternative methods to traditional systems and processes. This is leading an expedited adoption of mHealth across the industry both from providers and consumers.
During the pandemic, several healthcare systems have bifurcated healthcare requirements into essential and non-essential based on urgency and overall requirement for care. As the non-essential requirements are given less priority during the pandemic, patients are resorting to mHealth solutions. This is augmenting the adoption of mHealth apps across a variety of therapeutic areas.
As the pandemic subsides, the healthcare industry is expected to witness drastic structural and procedural changes as a large number of people become sceptic of visiting closed spaces with high risks of infection. Hence, it can be concluded that the COVID-19 outbreak is expected to play a significant role in the digital transformation of healthcare industry.
The availability of healthcare apps is growing which are commonly referred to as mHealth (mobile health) apps. These apps are easy to download on smartphones, can be linked with wearable technology and assist the users in disease prevention and overall health management. The COVID-19 outbreak has increased the reliability of patients on mHealth apps in order to take an active and informed role in their own healthcare.
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Global mHealth Market
Global mHealth Market, By Product & Service (Connected medical devices, {mHealth solutions, Clinical Devices, Peak Flowmeters, Fetal Monitoring Devices} mHealth Applications {Healthcare Applications [General Health and Fitness Apps,Others]} mHealth Services, {Remote Monitoring, Diagnosis and consultation services, Others}), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global mHealth Market
The global mHealth market is expected to reach USD 278.12 billion by 2025, from USD 25.66 billion in 2017 growing at a CAGR of 34.7% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Global mHealth Solutions Market
Market Definition: Global mHealth Solutions Market
mHealth solutions can be defined as the technology utilized in providing healthcare services and products through smart devices and smart phones. This technology is used for collecting patient data, their patient history and also through this technology, healthcare providers can ease their workflow helping them work in a systematic and effective way.
Market Drivers:
Growth in adoption and usage of smart devices and smart phones in healthcare and medical monitoring; this factor is expected to act as a driver for the market growth
Increasing focus on patient-focused and individual specific healthcare provisions; this factor is expected to drive the market growth
Market Restraints:
Absence of any regulations and standardization in the market restraining the market growth
Lack of enthusiasm in providing information regarding the identification of correct mHealth applications and solutions; this factor is expected to restrain the market growth
The market is flooded with mHealth apps and consumers have a lot to choose from.
However, there is significant variation in their capabilities. Till now, the functionalities of these apps are narrow primarily due to mild demand and are restricted to providing information only. As the demand and the number of apps are increasing in the market, multi-functionality is becoming common. In order to enhance, consumers experience in managing their health, multi-functionalities for online appointment scheduling, medication reminders, online consultation and sending diagnostic test results to healthcare providers for analysis, review and action. These apps are superior in assisting consumers in managing and monitoring their health as compared to the information and education apps.
Global eHealth Market
Global eHealth Market By Product & Service (eHealth Solutions, eHealth Services), End User (Healthcare Providers, Pharmacies & Healthcare Payers, Healthcare Consumers, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2027.
Conclusion
The sudden outbreak did not leave much scope for prompt action on impact. However, the post-COVID-19 world will witness increased adoption of mHealth as the new normal. Applications of emerging technologies such as 5G, AI, IoT, and others will be expanded. National governing bodies will emerge to manage mHealth approaches. Focus on precision health will also increase in both personalized and predictive health. The utilization of digital technology will increase for empowering patients to self-manage themselves, especially in case of non-communicable diseases.
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