GlobalData Calls Health Apps Market to Watch in 2019

March 8, 2019 – Health technology, especially health applications (apps) for smart devices, is a rapidly growing field with very different targets and objectives. With continued improvements in tablets and smartphones, the health apps market is one investors and innovators should watch closely in 2019, said data and analytics firm GlobalData.

The usefulness of these apps ranges from clinical decision support to home health management. The purposes of apps are also incredibly diverse, according to GlobalData. For example, some apps aim to provide clinical support to the hospital, while others aim to provide healthcare services to developing countries that lack medical devices for proper patient care. In the clinical setting, the use of healthcare apps for clinical decision support is becoming mainstream, and there is strong evidence of their reliability.

Apps such as the “CardioSmart Heart Explorer App” have proven effective in clinical decision support and risk factor modification in patients with symptoms of angina. In addition, applications such as “My Studies App” allow health care regulatory decision makers to access real patient data.

Hanuel Park, Medical Device Analyst at GlobalData, commented: “While these decision support applications are vital in developed countries, continuous innovations towards applications that offer medical device-like functionality are the main drivers of the booming healthcare app market. Apps that can provide routine healthcare services, in collaboration with an online doctor, to regions of the world that lack healthcare facilities will drive the market forward. The apps will provide medical services anywhere in the world with Wi-Fi.”

Park added, “The healthcare application space faces many challenges, including regulation, reliability and data security. However, wide ranges of healthcare services are being explored to see if they could be turned into an app, as a standalone medical feature, or an app that will work in conjunction with an online doctor. In addition, current trends show that many venture capitalists (VCs) and investors believe that the initial costs of software companies are minimal, compared to traditional device companies, which require R&D.[coûts de recherche et de développement]considerably higher.[researchanddevelopmentcosts”[researchanddevelopmentcosts”

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