According to a new report by Research and Markets, the mobile health application market is heading towards an explosive growth of 61% of the current industry, reaching $26 billion by 2017. It has also been forecasted that the market will reach more than 3.4 billion users worldwide having access to mHealth applications on their mobile devices. Fifty percent of these users will have downloaded mHealth applications, according to report findings.
Report authors wrote that the mHealth app market is currently in the commercialization phase, where a massive increase in offered solutions has transpired. However, missing regulations for the mHealth sector proves to be a significant barrier to entering the integrated phase, where mHealth will become more integral in physician treatment plans, according to the report.
Currently, market revenue is generated primarily by mHealth services and hardware sales as opposed to application download, officials said. The top 10 mHealth applications analyzed in the report have generated nearly 4 million free downloads and 300,000 paid downloads.
According to a 2012 report, the number of adults using mobile phones for health information stood at 75 million in 2012, up from 61 million in 2011, and tablet health activity adoption doubling from 15 million to 29 million in the same time period.
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