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Medical Apps Market is expected to reach $20.7 Billion by 2018

The "Mobile Health Apps & Solutions Market by Connected Devices (Cardiac Monitoring, Diabetes Management Devices), Health Apps (Exercise, Weight Loss, Women’s Health, Sleep and Meditation), Medical Apps (Medical Reference) – Global Trends & Forecast to 2018 " analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.

 The mobile healthcare market comprises of connected medical devices, healthcare application, and related mobile technology. The global mobile healthcare market is estimated at $6,336 million in 2013 and is poised to reach $20,683 million by 2018 at a CAGR of 26.7%.

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 Connected devices dominate the current market with around 85% of the total revenue contribution. Among different applications, cardiac monitoring and fitness tracking are the most prominent uses of mobile-enabled connected devices. With increasing awareness of the need for healthy lifestyles, patients prefer vital signs monitoring on a continuous basis.

The mobile application market is in an introductory phase, but is highly fragmented with an ample number of software-developing companies. A major restraining factor behind the growth of paid apps is the free access to maximum smartphone apps. Free apps constitute almost 90% of the download market of healthcare applications. Furthermore, significant price difference between health and medical apps lowers the adoption rate among healthcare professionals. Though the number of downloads of health apps contributed almost 90% to the healthcare applications market, revenue contribution by these apps was not significant due to its very low average price range ($1 - $2/download). Consideration of a mobile application as a medical device is also a questionable issue, although the FDA is formulating a framework to regulate the apps market. As of now, there are a few certified applications in the unstructured gamut of the application market. Rising popularity may increase the download price of device-independent healthcare apps; hence, the revenue contribution to the mobile health market is expected to be more significant.

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North America contributes the maximum to both the devices and applications market, whereas the increasing number of chronic disease, faster adoption of smartphones and related advanced connectivity and network drive the Asian and African mHealth markets at a brisk rate. Besides, different government initiatives such as Operation Smile by USAID (India), the Indo-Dutch Project Management Society (India), and Mobile Alliance for Maternal Action (South Africa, Bangladesh, India) encourage the local healthcare market to adopt this novel technology.

The device-software interlinked ecosystem makes the mobile health apps market highly fragmented with an ample number of software developers and network providers. Philips (The Netherlands), Medtronic (U.S.), Nike (U.S.), Omron (Japan), and Alere (U.S.) are notable players in the connected devices market, while AT&T (U.S.), Qualcomm (U.S.), Cerner (U.S.), and Diversinet (Canada) have emerged as significant solution enhancers in 2013.

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