The global market for mobile health applications for smartphones is expected to nearly double in 2012, rising to $1.3 billion, according to a new report.
While a projected doubling in growth is certainly impressive, it pales in comparison to what the mobile health apps market experienced in 2011, when it grew seven-fold to $718 million, according to research2guidance, a German firm that specializes in research into mobile markets.
Nonetheless, the market for mobile health apps is in its “embryonic state” has plenty of room for growth. The market’s anticipated $1.3 billion size in 2012 is only a fraction of the overall $6 trillion global healthcare market, according to the report.
Fueling the growth of the mobile (or digital) health market is an increasing number of users. The number of users who download at least one mobile health app is also expected to double this year, reaching 247 million, according to the report.
Companies in the mobile health market generate revenues in several ways — from downloads, in-app advertisements, mobile health services, direct transactions and sensor sales.
Apps that utilize sensors attached to smartphones, such as Sanofi-Aventis’ iBGStar diabetes monitoring app, are expected to make up a larger part of the overall mobile health apps.
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