Category : Healthcare and Pharmaceuticals | Published at : December-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The market for patient centric healthcare app is expected to grow at a CAGR of around 35.8% from 2020 to 2027 and expected to reach the market value of around US$ 54,079.9 Mn by 2027.
Patient-centric healthcare app is the software applications which are installed on electronic devices like mobiles, laptops, and tablets in order to manage the health-associated entities such as weight management, calorie count, chronic disease management and others. These are used by patients for monitoring chronic healthcare conditions like diabetes, hypertension, and others. These are used by the fitness freak for wellness management.
Market Dynamics
The rising Smartphone penetration, surging demand for personalized care apps, and rapid digitalization worldwide are supporting the market growth. The increasing transition toward digitalized healthcare and rising awareness among patients about the innovative patient-centric apps is supporting the demand in the market. Nowadays patients are more inclined to use apps to manage their chronic conditions such as diabetes and hypertension is bolstering the market value. The rising focus of people towards wellness management is accelerating the demand of patient-centric healthcare app in the segments like fitness, lifestyle and stress, and diet and nutrition. Additionally, the nationwide lockdowns across the countries due to COVID-19 have resulted in the closure of gyms and other fitness-related facilities which results in increased use of patient-centric healthcare app that aims toward management of fitness is further propelling the market growth. Furthermore, the ongoing investments on the development of technologically advanced healthcare apps are further projected to create potential opportunities during the forecast period from 2020 to 2027.
ON the other side, lack of adequate training to healthcare professionals and insufficient supply to demand ratio is the factor projected to limit the growth to an extent over the estimated period from 2020 to 2027.
North America accounted for the maximum revenue share in the market
In 2019, North America accounted for the maximum revenue share (%) in the global patient centric healthcare app market. The major economies of the region including the US and Canada are majorly contributing to the regional market value. The rapidly increasing geriatric population in the region along with the risk of chronic diseases is bolstering the regional market value. The number of Americans ages 65 and older is anticipated to get nearly double from 52 million in 2018 to 95 million by 2060.
Asia Pacific is projected to exhibit fastest growth with major CAGR
Asia Pacific is anticipated to register the fastest growth during the forecast period from 2020 to 2027. The developing economies of the region including China and India are contributing to the regional market value. The technological advancement in the region along with the penetration of Smartphones with network connectivity is further bolstering the regional market value.
The players profiled in the report include Allscripts Healthcare Solutions, Inc., Bayer AG, International Business Machines Corporation (IBM), iPatientCare, Inc., Klick Inc., Koninklijke Philips N.V., Merck & Co., Inc., MobileSmith, Inc., Novartis AG, Pfizer Inc., Siemens AG, and others. The major patient-centric healthcare app players were involved in strategic developments for escalating the profit share in regional as well as the global market. The major investments were announced in the patient-centric healthcare app market for technological advancements in the field.
Market Segmentation
Market By Category
Wellness Management
- Fitness
- Lifestyle and Stress
- Diet and Nutrition
Disease and Treatment Management
- Healthcare Providers/Insurance
- Medication Reminders and Information
- Women’s Health and Pregnancy
- Disease-specific
Others
Market By Operating System
iOS
Androids
Windows
Market By Deployment Model
On-premise
Cloud-based
Market By End User
Healthcare Payers
Healthcare Providers
Patients
Vendors
Others
Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The market for patient centric healthcare app is expected to reach a market value of around US$ 54,079.9 Mn by 2027.
The patient centric healthcare app market is expected to grow at a CAGR of around 35.8% from 2020 to 2027.
The rising Smartphones penetration, surging demand for personalized care apps, and rapid digitalization worldwide, rising awareness among patients about the innovative patient centric apps, increasing transition toward digitalized healthcare, and now-a-days patients are more inclined to use apps to manage their chronic conditions such diabetes and hypertension are some of the factors driving the market growth.
Allscripts Healthcare Solutions, Inc., Bayer AG, International Business Machines Corporation (IBM), iPatientCare, Inc., Klick Inc., Koninklijke Philips N.V., Merck & Co., Inc., MobileSmith, Inc., Novartis AG, Pfizer Inc., Siemens AG, and others are prominent players in the patient centric healthcare app market.
North America held the highest market share in the patient centric healthcare app market.
Asia Pacific is expected to be the fastest growing market over the forecast period.
In Operating System segment the Androids segment is growing at faster pace.
