$26 Billion By 2017 – mHealth services start to leverage apps to become commercially successful.
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 monetize their services successfully.
Ralf-Gordon Jahns, head of research, 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 U.S. on the iOS platform. The reach on other platforms and in other countries differs, but shows 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%) 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% 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, and advertising and drug sales revenues.
“With the growing sophistication level of mHealth applications, only 9% of the total market revenue in the next five years will come from application download revenue,” explains Patrick Houck, analyst, research2guidance. “Eight-four percent of total mHealth application market revenue will come from related services and products such as sensors.”
The “Global Mobile Health Market Report 2013-2017” by research2guidance is a business guide for traditional healthcare companies, mHealth specialists, as well as for mobile operators wishing to successfully engage into the new mHealth market.