mHealth Products, Markets, and Trends

Abstract

While much is being written in the popular press and online about the growing consumer interest in mHealth apps and the increasing availability of free and low-cost apps, the reality is that mHealth app usage has been relatively flat over the past couple of years. The general assumption is that well-designed, useful, and cost-effective apps will help consumers become more engaged in their health-care decisions and engage in healthier behaviors to achieve improved health outcomes. The mHealth product market is expected to grow in number, types, and sophistication of available devices and apps well into 2017, when sales are expected to reach US$ 26 million, with the greater portion of revenue coming from accessory devices and associated services. While many apps and devices with good functionality are available, the challenge for developers and investors is sustainability. Seemingly, the product life cycle in mHealth is short—technology capability enables fast development and fast replacement—and consumers are fickle, especially when apps are available at little to no cost to them. A key business approach for developers is to use freebie apps to provide easy access to more lucrative products and services for a sustainable consumer market base. The conundrum for players in the mHealth market is whether providers and consumers truly want virtual health care, or whether developers and marketers are creating a perception that virtual care is to be preferred over traditional delivery models.