According to a market report, published by Sheer Analytics and Insights, The global health and wellness application market was valued at $34.3 billion in 2021 and it is expected to reach $110.8 billion at a CAGR of 10.5% between 2022 and 2032. The fitness applications and medical applications segments of the market are broadly categorized. In 2021, the market was mostly dominated by medical applications. The primary driver fueling the segment's rise is the increasing adoption of medical healthcare applications by doctors and patients for better clinical results. One of the main variables projected to continue boosting the medical apps segment growth over the years is people's growing demand for long-term subscriptions to medical mobile applications. The adoption of mobile health applications is anticipated to be accelerated by the increasing growth in remote healthcare services. Additionally, it is projected that the use of mHealth applications by doctors would grow to allow greater patient involvement and treatment outcomes. These major factors are driving the health and wellness application market across the globe.
Recently, the popularity of wearable technology from numerous well-known manufacturers, like Fitbit, Apple, Sony, and many others, has supplemented the expansion of health and wellness applications. In addition, expanding wearable tech companies and expanding physician recommendations for the use of wearable technology will accelerate the growth of the health and wellness apps market. Moreover, the support of regional governments and rising funding from international healthcare organizations like the WHO will further support the expansion of the market for health and wellness applications. These primary factors are expected to drive the growth of the market during the forecast period from 2022 to 2032.
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Furthermore, due to the rising frequency of depression and anxiety disorders as well as the increased awareness of applications for treating these problems, the depression and anxiety management application type category held a market share of over 25.0% in 2021. Additionally, the market is seeing prospects for growth due to rising internet and smartphone adoption, rising product development, and rising consumer awareness. Hence, these growth factors are expected to create more growth opportunities for the health and wellness application market from 2022 to 2032.
On the other hand, several factors could hamper the market growth in the future. For instance, apps for tracking your health that heavily rely on the cloud are prone to service degradation or control loss, data breach, service loss, including service breakdown, or, in the worst situations, personal data loss. Furthermore, the market's expansion may be hampered by the premium app features and significant security risks. Since health and fitness applications rely on cloud services, there is a greater risk of personal data loss, which could harm the market's expansion.
Some new developments in the global health and wellness application market:
- On 19th November, 2022, a significant digital health program for kids and teenagers is launched by FIFA, the World Health Organization, and the Qatari Ministry of Public Health. GenMove, Season1 is gaming software that gives 8–15-year-olds an intense video game experience using cutting-edge movement monitoring and artificial intelligence technologies. The games are appropriate for kids of all fitness levels and require a variety of diverse actions that help kids develop different physical skills.
- On 15th November, 2022, for the purpose of securely transferring fitness information between Android devices, Google released Health Connect in beta. You can share data between your health, fitness, and wellbeing apps easily and privately with the help of the Android app.
- On 12th November, 2022, for the 5,000 medical students in the state, MUHS will release a mental wellness app. The Government of India's Principal Scientific Adviser's office has launched a program called MANAS. Students can download the app and register on the website. For six months, the Armed Forces Research College will do back-end analysis on the information gathered for this trial initiative so that authorities may pinpoint the pressures that medical students face.
According to the study, key players dominating the global health and wellness application market are Apple (U.S), Alivcor Inc (U.S), Andon Health (China), Allscripts (U.S), Astrazeneca (U.S), AT&T (U.S), Doximity Inc (U.S), Medtronic (U.S), Novartis (Switzerland), Oscar Health (U.S), Omron (Japan), Orange (France), Oracle (U.S), Pfizer (U.S), Philips (Netherlands), Qualcomm (U.S), Samsung (South Korea), Sanofi (France), Teladoc Health (U.S), Zest Health (U.S), among others.
The Global Health and Wellness Application Market Has Been Segmented Into:
The Global Health and Wellness Application Market – by Platform Type:
- Android
- iOS
- Others
The Global Health and Wellness Application Market – by Product Type:
- Medical Application
- Fitness Application
- Others
The Global Health and Wellness Application Market – by Regions:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- France
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Australia
- Rest of Asia Pacific
- LAMEA
- Middle East
- Saudi Arabia
- UAE
- Others
- Latin America
- Brazil
- Chile
- Others
- Africa
- South Africa
- Egypt
- Other
Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/health-and-wellness-application-market-21
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