Healthcare apps market to grow by $ 64.33 billion globally
Portland, OR, April 13, 2021 (GLOBE NEWSWIRE) – Allied Market Research published a report titled: “Patient-Centered Healthcare Apps Market by Technology (Phone Apps, Web Apps, and Patient-Centered Wearable App), Operating System (iOS, Android, Windows, and Others) Category (Wellness Management & Management) Diseases and Treatments) End User (Hospitals, Clinics & Home Use): Global Opportunity Analysis and Industry Forecast, 2020-2027. ” According to the report, the global patient-centered healthcare applications market size was estimated at $ 4.73 billion in 2019 and is expected to reach $ 64.33 billion by 2027, registering a CAGR of 37, 2% from 2020 to 2027.
Drivers, constraints and opportunities–
Rising demand for a patient-centric ecosystem, increasing smartphone penetration, and increasing collaboration between healthcare providers, app developers and others are driving the growth of the global market patient-centric health applications. In addition, the growing demand for personalized care applications is fueling the growth of the market. On the other hand, a long and expensive approach, an insufficient ratio of supply to demand and the lack of adequate training hamper growth to a certain extent. Nonetheless, the increased awareness of patient-centric innovation and the increase in the transition to digitized healthcare are expected to create lucrative opportunities for the major players in the market.
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- Nationwide closures have resulted in the closure of gyms and other fitness-related facilities. This has led to an increase in the use of patient-centric healthcare applications.
- Growing health and fitness concerns among electronic people have further widened the demands of these applications.
The android segment to dominate by 2027-
On an operating system basis, the Android segment accounted for nearly half of the global patient-centric healthcare apps market revenue in 2019 and is expected to reign on the roost by the end of 2027. Additionally , the same segment is expected to register the fastest CAGR of 38.0% throughout the forecast period. Factors such as the increase in the number of Android-based phone users, especially in countries like China, Indonesia and India, and the increase in disposable income of people in developing countries are boosting segment growth.
The home use segment to maintain the dominant share-
On an end-user basis, the home use segment contributed more than two-fifths of the global patient-centered healthcare applications market share in 2019 and is expected to lead the way by 2027. In addition, the segment is also expected to represent the fastest CAGR. by 38.2% through 2027. This is due to the realization of the benefits of fitness management applications and the increasing prevalence of diseases such as diabetes and hypertension, which require regular management on the patient’s side.
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North America won the biggest share in 2019 –
Based on geography, North America achieved the highest share in 2019, driving over a third of the global patient-centric healthcare applications market. This is due to the increased penetration of mobile phones, which contributes to more downloads and use of healthcare applications, and the presence of the majority of key players. Simultaneously, Europe would manifest the Fastest CAGR of 38.9% during the study period, as various mobile health and wellness support applications are launched in these countries. In addition, the increasing prevalence of chronic diseases and the emergence of new entrants in the UK is also driving the growth of the market.
Key players in the industry
- Allscripts Healthcare Solutions, Inc.
- Bayer AG
- International Business Machines Corporation (IBM)
- iPatientCare, Inc.
- Klick Inc.
- Koninklijke Philips NV
- Merck & Co., Inc.
- MobileSmith, Inc.,
- Novartis AG
- Pfizer Inc.
- Siemens AG.
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