mHealth app market to grow substantially through 2015

By eGov Innovation Editors | Jan 6, 2012

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The mobile health (mHealth) applications market is helping transform the healthcare IT environment and is poised to see substantial growth through 2015.

New analysis of the US Broadband mHealth applications market by Frost & Sullivan showed that the market will reach $392 million in 2015, from $230 million in 2010.

"From 2008 to 2010 mHealth consistently outpaced forecast growth and revenue," said Frost & Sullivan Senior Industry Analyst Zachary Bujnoch. "mHealth apps will continue on a steep growth curve as increasingly sophisticated mobile technologies and relationship-management tools disrupt the market."

Near-term market growth will occur as more new users purchase mobile apps and current users continue to purchase and use more mHealth apps. Based on this, it follows that app purchase revenue will grow. However, as seen in 2011 with the release of Food and Drug Administration (FDA) mHealth guidelines, there are various restrictions and obstacles to hassle-free market entry.

"Consumer awareness is mixed, with privacy and security concerns ever present in the mHealth market," said Bujnoch. "Also, while still overall a good thing, increases in FDA regulation and oversight may dampen innovation."

To ensure success, significant efforts need to be taken to bring the proper expertise and knowledge to companies participating in the market.