Economic Impact of COVID-19 on mHealth in Healthcare Industry
The COVID-19 pandemic has made an unprecedented effect on daily lives as well as the global economy. The impact on the healthcare sector has been seismic too and a significant burden is created on already strained healthcare systems across the world. As the overworked healthcare providers are grappling with constant rise in number of cases, patients are looking towards digital technologies for aid.
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.
The mHealth Market Research Report offers an extensive analysis of key drivers, leading market players, key segments, and regions. Besides this, the experts have deeply studied different geographical areas and presented a competitive scenario to assist new entrants, leading market players, and investors to determine emerging economies. These insights offered in the report would benefit market players to formulate strategies for the future and gain a strong position in the global market.
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Global mHealth Applications Market Regions and Countries Level Analysis
Regional analysis is a highly comprehensive part of this report. This segmentation sheds light on the sales of the mHealth Applications on regional- and country-level. This data provides a detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
Global mHealth App Market: An Evaluation of the Scope
The above-mentioned Global mHealth App Market report presentation by Orbis Research Reports has been gauged at length and according to expert analysis, is anticipated to entail an impressive growth of xx million USD in 2020 and is projected to further reach a total growth estimation of xx million USD through the forecast span until 2025, growing at a CAGR of xx%.
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.
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.
Additionally, the report is furnished by the advanced analytical data from SWOT analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis. The report also provides a detailed analysis of the mergers, consolidations, acquisitions, partnerships, and government deals. Along with this, an in-depth analysis of current and emerging trends, opportunities, threats, limitations, entry-level barriers, restraints and drivers, and estimated market growth throughout the forecast period are offered in the report.
NOTE: This report takes into account the current and future impacts of COVID-19 on this industry and offers you an in-dept. analysis of mHealth Ecosystem market.
Conclusion
The post-COVID-19 healthcare is expected to see transformation of processes with high inclusion of mHealth.
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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