Smartphones have accelerated use and development of apps for various platforms, iPhone, Android, Blackberry and so forth. PricewaterhouseCoopers survey published in Sept. 2010 projected positive outlook for mHealth apps and revealed that ~40% consumers were willing to pay nominal fee for health apps. The PWC survey was primary projected growth in the US market. Pyramid Research projected that 70% of people worldwide, are willing to have access to at least one mHealth app. The Pyramid Research report backs up the survey by PWC that people are willing to pay for the mHealth apps of their interest.
Future of mHealth looks positive as Pyramid estimated that these apps will triple by 2012 from 200 million apps currently available to consumers.
- The cost of developing the services
- Cost of educating healthcare stakeholders
- Ability to justify the costs to secure reimbursement
Who is in best position to tap into mHealth market?
Pyramid strongly feels that the telecom companies are in best position to exploit the mHealth...
opportuniy and as per Denise Culver, analyst at Pyramid:
- mHealth gives telecommunications and technology vendors a potential customer base that’s large, global and willing to spend mone
- Technology and telecommunications providers are well positioned for developing, extending, and marketing mHealth applications
- Many of these players already have established relationships with healthcare providers and payers, and many benefit from large, global scale
Although the Pyramid’s report differs from the PCW’s survey, none-the-less both stress that mHealth will continue to grow for foreseeable future. Although, people are willing to pay for mHealth apps, the key contributor for its wide acceptability will be that companies and innovators will have to keep the cost low. As we progress to 2011, I look forward to see progress in mHealth space.