Health and fitness apps are gaining popularity, and women’s health is likely to drive the market.
The global women's health app market size is expected to reach $3.9 billion by 2026 at a compounded annual growth rate (CAGR) of 17.9%, according to a new report by Grand View Research, Inc., San Francisco. Public and private sector organizations are focused on women's health across the globe, which is likely to drive the market in the coming years. Increasing use of mobile phones is one of the key factors driving the market in developed countries.
Health and fitness mobile apps are gaining popularity among smartphone users across the globe. Approximately 700 million people have internet access and 86% of the people are reported to have internet connection on their phones. Therefore, increasing use of smartphones to access mobile applications that can track fitness parameters is driving the market, the report states.
Here are key findings:
• Based on type, the menstrual health segment held largest market share in 2018. Growing awareness among women regarding importance of menstrual health will drive the segment's growth;
• North America held largest women's health app market share in 2018 in terms of revenue, thanks to technological advancements and presence of major market players in the region;
• Asia Pacific is expected to showcase the fastest growth rate over the forecast period. Government initiatives for reimbursement and raising health awareness among people is driving regional growth;
• Some of the key players in the market are Flo, Clue, Apple, Eve, Tracker, Google, Withings, and Fitbit.
According to Statista, a German online portal for statistics, in April 2019, 4 billion users used mobile phones wherein mobile devices accounted for 48% of views on web pages worldwide. Fitness apps are extensively used due to rising consumer shift toward healthy lifestyle and wellness therapies. Key market players such as Fitbit and Apple are introducing apps that can track menstrual cycle, predict ovulation period, and calculate fertility window.
The 80-page report can be found here: https://www.grandviewresearch.com/industry-analysis/womens-health-app-market.