Wellness Apps Market Size, Share & Trends Analysis Report By Type, By Platform (Android, iOS), By Device (Smartphones, Wearable Devices), By Subscription (Paid, Free), By Region, And Segment Forecasts, 2024 - 2030

Wellness Apps Market Size, Share & Trends Analysis Report By Type, By Platform (Android, iOS), By Device (Smartphones, Wearable Devices), By Subscription (Paid, Free), By Region, And Segment Forecasts, 2024 - 2030

Wellness Apps Market Growth & Trends

The global wellness apps market size is expected to reach USD 26.19 billion by 2030 and is anticipated to register a CAGR of 15.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. A wearable device is used for measuring & compiling user activity data and synchronizing it with a suitable wellness application. According to the 2023 NIH report, nearly one in three Americans utilize a wearable device, such as a smartwatch or band, to monitor their health and fitness. Moreover, the International Data Corporation (IDC) has reported that in the third quarter of 2023, worldwide shipments of wearable devices increased by 2.6% compared to the previous year, setting a new third-quarter record with a total of 148.4 million units. Thus, increasing usage of wearable devices is supplementing market growth.

There has been a significant surge in investments dedicated to supporting mobile wellness apps and digital health. This increased interest is fueled by advancements in technology, increased smartphone adoption, and a recognition of the transformative potential these innovations hold for healthcare. Governments, tech companies, and healthcare organizations are actively investing in wellness apps and digital health startups, creating a helpful regulatory environment and promoting the development of solutions ranging from telehealth to wearable devices. In June 2024, Zing Coach, a health tech startup, disclosed that it had secured a Series A funding round of USD 10 million through equity and debt financing. The funding was led by Triple Point Capital and Zubr Capital. Zing Coach is known for its AI-powered fitness app, which aims to combat the rising rates of physical inactivity.

The major players operating in the market are adopting strategies such as collaborations, partnerships, acquisitions, and mergers with a major focus on enhancing product formation and reach. In addition, the players are securing funding from government and non-government bodies to develop advanced applications. For instance, in March 2024, Polar Electro partnered with Calm, a leading sleep, meditation, and relaxation application with over 150 million downloads. This alliance emphasizes the critical role of mental well-being in achieving superior sports performance and maintaining general health. It grants Polar users access to Calm’s comprehensive content, encompassing meditation, mindfulness, and sleep resources. In addition, as a benefit of this collaboration, Polar customers are entitled to a complimentary 3-month subscription to Calm, encouraging them to focus on their mental health to improve their overall well-being.

In addition, increasing prevalence of obesity is one of the major factors driving the adoption of wellness apps. Data from the CDC indicates that in 2022, 22 states had a prevalence of adult obesity at or above 35%, compared to 19 states in 2021. Moreover, according to the 2022 WHO report, approximately 16% of adults aged 18 and above worldwide were classified as obese. According to the World Obesity Atlas 2022, it is projected that by 2030, 1 billion individuals worldwide will have obesity, with 1 in 5 women and 1 in 7 men being affected. Increase in awareness and concern about obesity has led to the adoption of various measures for reducing weight, enabling greater use of wellness apps by individuals to track their health goals.

Wellness Apps Market Report Highlights

• Based on type, the exercise and weight loss apps segment held the largest revenue share in the market in 2023 owing to the increasing prevalence of obesity.
• Based on platform, the iOS segment is anticipated to grow at the fastest CAGR over the forecast period in the market owing to the continuous innovation in hardware and software.
• Based on device, the wearable devices segment is anticipated to grow at the fastest CAGR over the forecast period in the market. Companies are continuously investing in technological innovations, leading to an increase in applications of wearable device technology in healthcare, which is contributing to market growth.
• Based on subscription, the free segment is anticipated to grow at the fastest CAGR over the forecast period in the market owing to the increasing awareness of daily health monitoring.
• North America dominated the market due to the presence of key market players. Furthermore, health-related mobile apps are extremely popular across the U.S. due to rising health consciousness.

Please note The report will be delivered in 2-3 business days upon order notification.