Mobile Health App Revenue Predicted to Grow 10x by 2017

The worldwide market for mobile health applications, and the services that go with them, reached $2.4 billion in revenue in 2013 and will grow to $26 billion by the end of 2017, according to a recently released report from research2guidance, a German market research firm.

Apps related to fitness monitoring show the greatest business potential for app developers today, according to the report, mHealth App Developer Economics 2014. But by 2017, apps involving remote monitoring and consultations will have the highest business potential, with fitness apps falling to fifth. The findings are based on responses to an online survey of 2,000 mobile health app publishers and experts in the field.

When it comes to publishing new apps, traditional healthcare players such as hospitals, insurers and pharmaceutical and medical technology companies, “have the longest way ahead of themselves to find their role in the mHealth app ecosystem,” the report states.

But the future looks bright for those companies, “Traditional healthcare players like physicians and hospitals are the top ranked distribution channel for mHealth apps in the next five years,” the report noted. Mobile apps will help healthcare systems improve patient compliance and reduce readmission costs. The underlying assumption is again that within this timeframe mHealth apps will have become well integrated into the healthcare processes.

 

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