mHealth Apps Find Increased Consumer Acceptance in Global Markets

The fifth annual Makovsky/Kelton survey, “Pulse of Online Health” was released in February 2015. As per its findings, a comparative excess was noted in regard to the readiness exhibited by Americans to trust mHealth apps in market, rather than their doctor. The data projections were, however, relative to each other. While people are losing tendencies of consulting healthcare professionals for their lifestyle concerns, they somehow trust sensor-enabled advanced electronics more. Analysts agree that the trend definitely varies with age group. Millennials have a greater inclination towards tracking their physical vitalities through smart wearables. The trend-shift is pretty obvious, yet apprehensions are sustained on the accuracy of such applications. 

Consumer expectations drive mHealth market

The fact that mHealth apps serve monitoring, preventive, and to some extent curative purposes as far as consumer requirements are concerned. Reported deaths owing to lifestyle diseases increase in number each year, instilling much fear among global population to resort to continuous monitoring. This remains key to all drivers of growth for the industry. Smart portable devices have conveniently found their way into the lives of billions, that too at affordable prices. Resultantly, it is easier for people to turn to eHealth services over the web and software applications rather than paying heavy consultation charges and then line-up for appointments. 

According to the Makovsky/Kelton survey, an average of 5 out of every 10 people were interested in using mHealth services for keeping a track of dietary value in their food, calories burnt during daily activities, drugs consumed daily, and dynamics of vital symptoms. Preference ratios are also influenced heavily by the variation in type and intensity of ailment. Rather than saying mobile health apps and services are a non-expensive way of consulting, an even appropriate term is convenience of continuity. The web connected apps move with the devices, while the device moves along with the patients. Doctors are assisted by extensively detailed conditional inputs from the patient’s end. Death incidences due to sudden emergencies see a new low with mobile health services.

mHealth market needs secure communication channels

It is understood that mHealth services are also offered by medical experts, it is just that technology fosters real-time communication and releases alarms or suggestions at a speedier rate. Most certainly, the route of access has changed. Consumers place some very personal information over internet and application platforms to gain accurate health advice. 

Medical experts and patients, now require to communicate efficiently, across different devices or platforms, but the growing worry about the security makes such communication very challenging. Thus emergence of tools like HIPAA- complaint messaging mechanisms propose aid in bridging the gap between the security and efficacy. Such tools act as a mainstay across the entire healthcare segment.

Regional insight for mHealth market

Earlier in 2015, The Business Standard placed Denmark at the leading position when it comes to best locations for starting a mHealth-related business. It’s true, as usage of ICT by almost all medical professionals, electronic data transfer and popularity of prescription has fueled growth in the mobile health sector in the country.  In May 2015, the whole world appreciated the progress in the mobile health segment in European Union worthy of a brief introduction. The EU made it clear that it would now operate on latest guidelines for mobile health applications irrespective of the European Protection Supervisor, as well as the significant British Standards Institution outlining their own guidance.

mHealth market global growth scenario

There seems to be a lot of support arriving as well as excitement for innovations in the aforesaid industry among patients and physicians alike. Apart from it growth of tools and different platforms that are intuitive, and with the knowledge curve widening, the market is experiencing great proliferation. In a recently published report “Global mHealth Market (Devices, Services, Application, Stakeholders and Geography) - Industry Analysis, Market Size, Share, Growth, Company Profiles, Demand, Insights, Opportunities, Trends and Forecast, 2014 – 2020,” Allied Market Research evaluated the industry at $10.5 billion in 2014, and forecasts a high CAGR of 33.5% during 2015 to 2020.

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mHealth market is to witness various cutting-edge applications and innovations in the present decade. The benefit of the healthcare applications is, that they don’t need users to let go their everyday habits, but offer paramount treatment, thorough screening or several advantages, would be positioned for great profitability in upcoming years.

 

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