Patient Centric Healthcare App Market Dynamics 2018: Opportunities, Risks and Driving Factors to 2025
According to a new report published by Reports Monitor titled, “Patient Centric Healthcare App” the global patient centric healthcare market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
A patient-centric approach is considered as an integral key to the high quality healthcare. It helps to enhance knowledge and understanding among the patients regarding their own health, wellbeing, and healthcare choices, which leads to improvement in health of the patient. Also by engaging with patients in the decision-making process, health care providers or doctors can make better decisions regarding a patient’s health. The patient centric healthcare apps are web-based, smartphones and wearable applications that assist the users by constantly updating them about the medication times, calories consumed and heart beats per minute, dehydration level in the body, and other body parameters.
Some factors responsible for steady market growth include low cost and easy access of medical devices, integration of wireless technologies, and affordability of smartphones, government initiatives, and increase in lifestyle diseases. However, the low acceptance owing to lower accuracy, inchoate technology in some underdeveloped countries, limited reimbursement framework and lack of technological awareness among the aged population market may hamper the growth of the market to a certain extent.
Large number of patient centric medical apps are developed for wearable devices every year by information technology professionals contributing to the high market growth for future. Increasing focus towards digitalization in developing nations of healthcare systems and services can trigger the market growth.
The global patient-centric healthcare app market’s segmentation is on the basis of service, deployment model, category, operating system, and end-user.
Based on service the market is segregated as Electronic Health Record Access, Appointments, Remote Patient Monitoring, Payment, Medical Device. Based on the deployment model market is classified as On-premise and Cloud-based. Furthermore, on the basis of category the market is bifurcated as Wellness Management, Disease and Treatment Management, and others. On the basis of technology the market is classified as Internet-based Technology, Mobile Devices and Home Telehealth. On the basis of operating systems market is divided as are iOS, Android, and Windows. Moreover, segmentation on the basis of end-users is as Healthcare Payers, Healthcare Providers, Patients, Vendors and Others.
On the basis of geography the market is segmented in North America followed by Europe, Asia-Pacific and LAMEA. North American market include U.S and Canada. Europe region includes countries like Germany, U.K, France, Italy, and rest of Europe. APAC would contribute maximum to the market in near future due to increasing patient’s population, considerable healthcare expenditure and growing digitalization and dependency on information technology in countries like Japan, India, China, Australia and Others. LAMEA including countries like Brazil, Israel, South Africa, and Others would have significant share in future with increasing awareness and advanced healthcare sector.
The major key players in this market are Bayer AG, International Business Machines Corporation (IBM), iPatientCare Inc., Koninklijke Philips N.V., Merck & Co. Inc., Allscripts Healthcare Solutions Inc., MobileSmith Inc., Novartis AG, Klick Inc, Pfizer Inc. and Siemens AG.
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