Personal Health Apps Market Scope
Personal health apps are used to keep track of the health of individuals. These apps are used for various purposes such as weight loss, Meditation, diet, and nutrition, etc. These apps are mobile application programs that offer health-related services on smartphones, tablet PCs, and other communication devices. Mobile applications are anticipated to improve treatment outcomes and lifestyle while minimizing the incidence of chronic diseases. There are currently over 325, 000 health-related mobile apps now presented on app marketplaces and around 60% of mobile device users downloaded a mHealth app to their device. The growth of the market appears positive with increasing investments in wearable tech start-ups that focus on mHealth categories such as personal safety, women's health, and hydration monitoring that promise exciting prospects for the market
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Personal Health Apps market throughout the predicted period.
AgaMatrix, Inc. (United States), Medtronic plc. (Ireland), Apple, Inc. (United States), Johnson & Johnson (United States), Koninklijke Philips N.V. (Netherlands), Nike, Inc. (United States), Omron Corporation (Japan), Withings S.A (France), BioTelemetry, Inc. (United States) and iHealth Labs Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Cerner Corporation (United States), AliveCor, Inc. (United States) and Abbott Laboratories (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Personal Health Apps market by Type (Women’s Health, Weight Loss, Personal Health Record and Others (Diet and nutrition, Meditation, Sleep cycle analysis, Menstrual period tracking)), by Application (Information Collection, Prevention & Diagnosis, Treatment and Monitoring and Others) and Region with country level break-up.
On the basis of geography, the market of Personal Health Apps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On Dec 18, 2020, Health technology giant Royal Philips has entered into a definitive merger agreement to acquire Malvern-based BioTelemetry in a stock deal valued at USD 2.8 billion. The acquisition of BioTelemetry is a "strong fit" with its cardiac care portfolio and other technology that includes real-time patient monitoring, therapeutic devices, telehealth, and informatics.
On January 15, 2019, Medtronic plc has launched its MyCareLink Heart(TM) mobile app to support the world's first and only portfolio of pacemakers that can communicate directly with patients' smartphones and tablets.
The USA Health insurance portability and accountability act (HIPAA) law requires mobile app developers to ensure, not only application security from any third parties, but also sensitive patient data stored on the device or during data transmission. Also, The European Union General Data Protection Regulation (GDPR) has said that app launcher must provide users with the ability to protect and control their private information concerning the processing of personal data.
Market Trend
- Adoption Analysis of Connected Devices
- Increasing Demand for Urgent Care Apps
Market Drivers
- The rapid adoption of mobile applications by individuals, especially healthcare apps that assist consumers in self-management of disease, wellness, and chronic conditions is the key driver of the personal health apps market.
- Increasing Penetration of Smartphones, Tablets, and Other Mobile Platforms
- Robust Penetration of 3G and 4G Networks for Uninterrupted Healthcare Services
Opportunities
- Increasing Incidence of Lifestyle Disorders
- Increasing Adoption of AI and 5G
Restraints
- Lack of Standards and Regulations as well as Data Privacy
Challenges
- Authenticity and Reliability
- Lack of Expertise in individuals
Key Target Audience
Personal Health Apps Developers, Software Developers and Integrators, Government organizations, Healthcare Professionals and Hospitals and Others