December 11, 2013
LifeApps To Take Advantage of Huge Mobile Health Growth
Leveraging its highly rated mobile apps, LifeApps Digital Media Inc. (OTCQB - LFAP - $0.06 – Spec Buy) recently announced that a major part of its development and business positioning approach in 2014 will be on mobile health care solutions and products. The company already has a meaningful presence in the health, wellness and fitness app arena and is primed to monetize it to an even greater extent next year by incorporating more video and communications features.
This move dovetails perfectly with the mobile health market direction. According to a recent Juniper Research report, over the next five years, healthcare organizations will substantially increase the availability of smartphone-based mobile health services, such as remote patient monitoring and mobile ultrasound services. Juniper predicts that by 2018 there will 96 million users of app-enabled mobile health care and mobile fitness devices, a six-fold increase from the 15 million users this year. This shift would lead to cost savings from remote patient monitoring of up to $35 billion over the next five years.
Right in LifeApps’ sweet spot, the mobile fitness sector is expected to demonstrate the strongest growth in the short to medium term, driven by greater demand for lifestyle consumer apps and an increasing variety of attachments. With enhancements to its feature set and new apps to fully address this market, LifeApps could emerge as a go-to firm in this arena and could see an uptick in third-party referral, recommendations and promotion, which would lead to greater revenue and a larger installed base.
We expect more news on this front in the industry and via LifeApps in the coming months. Separately, with the approach of the New Year comes the traditional New Year’s resolutions and desire to lose weight and become more fit. This seasonality, in addition to the “mHealth” industry growth should result in a surge in these shares heading into 2014.
For more information, refer to our previous sponsored LFAP Reports, Updates and Hot Topics by visiting www.GoldmanResearch.com
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Senior Analyst: Robert Goldman
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