Report highlights the growth of mobile health solutions
Published: 20 Jan 2012
Smartphone application market for mobile healthcare rose by 700 per cent in 2011 with more growth predicted
The mobile healthcare (mHealth) smartphone application market grew to $718m in 2011 from $102.6m, according to Mobile Health Market Report 2011-2016 written by research2guidance and presented by Global Information Inc (GII).
In 2010, research2guidance estimated the size of the market at around $100m; this year’s report concluded that, despite this phenomenal sevenfold growth, the market is still in a nascent stage, with enormous potential for future growth and increasing sophistication.
The 101-page report notes that both supply and demand in the mHealth market grew over the last 12 months. Reasons for this dramatic growth include the exponential growth of smartphone users, and increase in the number of healthcare apps available – they more than doubled in number in 2011.
As well as describing the current state of the market and how it has been shaped, the report identifies best practices, future trends and market potential.
Research2guidance suggests that business models and revenue generation within mHealth are set to evolve, moving away from download fees and advertising into subscription fees and a service-oriented sales model.
A separate report, compiled by global research firm Frost & Sullivan, predicts that the mHealth market will grow by at least 70 per cent over the next three years, noting however that growth within this market has continually outpaced expectation. The report, entitled Analysis of the US Broadband mHealth Applications Market, supports research2guidance’s findings that the growth seen in 2011 is just ‘the tip of the iceberg’.
“mHealth apps will continue on a steep growth curve as increasingly sophisticated mobile technologies and relationship-management tools disrupt the market,” said Frost & Sullivan senior industry analyst Zachary Bujnoch. “Despite the hype, mobile apps are the single-biggest digital channel since the '90s and the web.”
However, it cautions that future growth may be stymied by FDA regulation and oversight dampening innovation, as well as security concerns, particularly for new start-ups entering the field. Nevertheless, growth is anticipated to come both from new and existing users.
Published: 20 Jan 2012
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