Friday, March 8, 2013

Market for mobile health app services will reach $26 billion by 2017

GERMANY: The market for mHealth services has now entered the commercialization phase and will reach $ 26 billion globally by 2017 says the new “Global Mobile Health Market Report 2013-2017” by research2guidance. Smartphone applications have begun to enable the mHealth industry to successfully monetize their services.

Ralf-Gordon Jahns, head of Research at research2guidance, points out: “Our findings indicate that the long-expected mobile revolution in healthcare is set to happen. Both healthcare providers and consumers are embracing smartphones as a means to improving healthcare.”

Top mHealth publishers manage to generate more than 3 million free and 300.000 paid downloads in the USA on the iOS platform. The reach on other platforms and in other countries differ at lot but show also the increase of business potential for mHealth apps.

Not only are consumers taking advantage of smartphones to manage and improve their own health, but also healthcare professionals. A significant number (15 percent) of mHealth applications are primarily designed for healthcare professionals. These include CME (Continued Medical Education), remote monitoring and healthcare management applications.

Currently there are 97,000 mHealth applications in major app stores, 42 percent of them adhering to the paid business model.  With more and more traditional healthcare providers joining the mobile applications market, the business models will broaden to include healthcare services, sensor, advertising and drug sales revenues.

“With the growing sophistication level of mHealth applications, only 9 percent of the total market revenue in the next five years will come from application download revenue” explains Patrick Houck Analyst at research2guidance. “Eighty four percent of the total mHealth application market revenue will come from related services and products such as sensors.”

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