Top five drivers of the global healthcare applications market
Portland, OR, August 25, 2020 (GLOBE NEWSWIRE) – 2019 has been a banner year for the world health applications market, with revenues up 40.9% to $ 10,235.0 million. The market is on track for solid growth over the next five years, tipping the market past $ 113,728.0 million in 2023.
The phone applications segment accounted for about half of the global market share in 2016. The patient-centered approach is an approach by which a healthcare system can partner with practitioners, patients and their families to align health care providers. decisions about the health, needs and preferences of patients. towards medicine and treatment. Patient-Centered Healthcare Apps are smartphone, web, and wearable apps that help users by updating them on treatment times, level of dehydration in the body, calories consumed, and heartbeat by minute, among other bodily parameters.
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At present, mobile penetration is over 100% in developed markets and is expected to increase in developing markets such as Asia-Pacific, Latin America and Africa. In addition, increasing exposure to smartphones as well as 3G and 4G networks further increase the use of mobile platforms in most industries, especially in healthcare systems.
Some of the other factors responsible for the substantial growth of the market include low cost and convenience of medical devices, technological innovations, integration of wireless technologies and affordability of smartphones, government initiatives and increase in related diseases. to the way of life. Factors such as lower adoption due to lower accuracy, nascent technology in underdeveloped economies, limited reimbursement coverage, lack of technological awareness among aging population, and uncertainty of government regulations restrict market growth to some extent.
The segment of patient-centric wearable applications grows at the fastest rate during the forecast period. This is attributed to the increased penetration of wearable devices and users in various geographic regions for well-being management. In addition, a large number of patient-centric medical applications are developed for wearable devices every year, which contributes to the strong growth of the market.
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In the operating systems segment, iOS generated the highest revenue in 2016, accounting for around half of the total market share, and is expected to continue this trend throughout the forecast period. This is due to the increase in the number of iPhone and iPad users, especially in countries such as the United States, United Kingdom, Canada, and other developed economies. In addition, the Android operating systems segment is expected to experience the highest CAGR of 44.2% during the forecast period, owing to the increase in the number of users of Android devices and profitability. compared to iOS and Windows devices, and will primarily drive growth in developing and underdeveloped economies. .
Key Findings of the Patient-Centered Healthcare Applications Market:
- The Windows operating systems segment accounted for one sixth of the total market and is expected to grow at a CAGR of 42.0% during the forecast period.
- The disease management and treatment segment is the fastest growing category in the global market, registering a CAGR of 42.4% during the forecast period.
- The United States has dominated the global patient-centric healthcare applications market and is expected to grow at a CAGR of 34.8% from 2017 to 2023.
- India was the fastest growing country in the patient-centered healthcare market in Asia-Pacific, registering a CAGR of 48.7 during the forecast period.
- The home use segment contributed the highest market share in 2016, registering a CAGR of 39.9% from 2017 to 2023.
Asia-Pacific is expected to experience the highest growth rate for the Patient-Centered Healthcare Applications market throughout the forecast period. Rising adoption of smartphones, growing awareness of new technologies, and increasing consumer preferences for healthy lifestyles are major factors complementing the adoption of patient-centric medical applications. In addition, continued growth in mobile cellular network coverage and increasing number of lifestyle-related diseases such as diabetes, obesity, including others, would further drive the growth of the medical applications market. patient-centered in Asia-Pacific. However, lower accuracy, low reimbursement coverage, and low adoption of the devices among the aging population are factors that are hampering the growth of the market.
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The major players in this market have adopted collaborations as one of their key development strategies, among others such as acquisitions and product launches. Major companies featured in this report include 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. and Siemens AG.
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