Report: 50% of mobile users will download a health app within 5 years

 

According to a report by Research and Markets, the mobile health technology industry is expected to reach a compound annual growth rate (CAGR) of 61% by 2017. During that time, 50% of mobile users are expected to download a health app.

 

10 Key Trends

The report calls out the following key trends that will drive the market:

  1. Smartphone user penetration will be the main driver for mHealth uptake
  2. mHealth applications will be tailored specifically for smartphones or tablets
  3. mHealth applications will be native rather than web-based applications
  4. mHealth niche stores will become of the home of the 2nd generation of mHealth apps
  5. Missing regulations are the main market barrier during the commercialization phase
  6. Buyers will continue to drive the market
  7. Applications will enter traditional health distribution channels
  8. mHealth market will grow mainly in countries with high smartphone penetration and health expenditure
  9. 2nd generation mHealth applications will focus on chronic diseases
  10. mHealth business models will broaden

 

Phases of Mobile Health Development

According to the report, mobile health will move through three development phases:

  • Initial Trial
  • Commercialization
  • Integration

 

The Commercialization Phase

The report authors suggest that we are currently in the commercialization phase, which includes the following:

  • Mass development of mobile health tools
  • New business models
  • A focus on private companies, consumers, and patients

 

According to the report, "In this phase mobile health applications will become an integrated part of doctors' treatment plans. In this phase health insurers will become the main player, especially for the more advanced mHealth solutions."

 

Remote Monitoring market to hit $36B by 2018

In a separate report, Juniper Research projected that remote patient monitoring will save the world's healthcare systems up to $36 billion. The bulk of the savings will be generated out of North America. 

The firm points to the shift towards accountable care as the drive of mHealth monitoring. Remote cardiac monitoring and remote monitoring of chronic diseases are expected to lead the movement.