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| Patient Centric Healthcare App Market |
The patient centric healthcare app market is estimated to be valued at US$ 13,537.6 Mn in 2023 and is expected to exhibit a CAGR of 39.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Patient centric healthcare apps aim to empower patients to actively participate
in their own healthcare through tracking symptoms, managing medications,
scheduling appointments, accessing health records, and more. These apps are
deployed on smartphones and tablets, enabling patients to conveniently monitor
and manage their healthcare on-the-go. They aim to enhance patient experience
through providing personalised services, education and communication.
Market Dynamics:
Growing adoption of smartphones and tablets is expected to be a major driver
for the patient centric healthcare app market over the forecast period.
Increasing penetration of mobile internet is enabling wider access to
healthcare applications on portable devices. According to research, over 80% of
the global population will have smartphones by 2023. This is expected to
significantly increase the uptake of patient centric healthcare apps.
Additionally, rising prevalence of chronic diseases is also spurring demand for
self-monitoring and management apps. Features such as remote monitoring,
appointment scheduling and medication reminders through patient centric
healthcare apps can help improve health outcomes, especially for patients with
long-term conditions such as diabetes and cardiovascular diseases.
Swot Analysis
Strength: The patient centric healthcare app market allows for better health
management and monitoring of chronic conditions from home. These apps improve
accessibility of care and allow patients to be more involved in their
treatment. They also help reduce burden on healthcare providers and facilities
through remote monitoring.
Weakness: Data privacy and security continue to be major issues with healthcare
apps. Many patients have concerns about unauthorized access and sharing of
their personal medical information online. The varying quality of apps and lack
of clinical validation for some can also undermine user trust.
Opportunity: The growing adoption of smartphone devices provides a strong
platform for widespread use of healthcare apps. It allows reaching rural
populations lacking access to hospitals. Apps helping lifestyle management for
conditions like diabetes and obesity present opportunities for better health
outcomes.
Threats: Stringent regulations around health data storage, access and sharing
vary widely globally. This poses compliance challenges. The entry of cheaper
alternatives from other regions also increases market competition.
Key Takeaways
The global Patient
Centric Healthcare App Market Growth is expected to witness high
growth, exhibiting CAGR of 39.% over
the forecast period, due to increasing focus on patient engagement and virtual
care delivery amid COVID-19 pandemic. Healthcare apps empower patients to take
proactive role in treatment, monitor vital signs and communicate remotely with
doctors or care teams.
Regional analysis The Asia Pacific region is poised to grow the fastest in the
patient centric healthcare app market, owing to rising smartphone ownership,
improving digital infrastructure and government initiatives to promote
telehealth in countries like India and China. North America currently dominates
the market, supported by advanced telemedicine sector, favorable reimbursement
policies and high healthcare spending in the US and Canada.
Key players operating in the patient centric healthcare app market are Bayer
AG, Novartis AG, Siemens Healthineers AG, Pfizer Inc., Koninklijke Philips NV,
MobileSmith Inc., Merck KgaA, MFine Pvt Ltd., Athenahealth Inc., Oracle (Cerner
Corporation), ASSURECARE LLC (IPATIENT CARE), Boston Scientific Corporation,
International Business Machines Corporation (IBM), Allscripts Healthcare
Solutions Inc., and Baxter International Inc. (HillRom Services, Inc.).
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