The Patient Centric Healthcare App Market comprises mobile applications that empower patients to take control of their healthcare needs and effectively manage chronic conditions from home. These apps allow patients to track vital health parameters like blood pressure, blood sugar, weight, and symptoms. They also enable remote consultation with doctors, prescription refills, and access to medical records on the go. The global Patient Centric Healthcare App Market is estimated to be valued at US$ 9,760.4 Mn in 2023 and is expected to exhibit a CAGR of 39.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing smartphone and internet penetration
The key factor driving the growth of the Patient Centric Healthcare App Market is the increasing adoption of smartphones and the ubiquitous availability of high-speed internet globally. According to data, over 95% of the world’s population now has access to high-speed 4G networks. Also, smartphone ownership is expected to reach over 6 billion users worldwide by 2023. As more people get connected digitally, they are increasingly relying on healthcare apps for managing their condition, consulting doctors remotely, and accessing medical advice 24/7 from the convenience of their homes. This growing digital connectivity and reliance on mobile health tools is propelling the Patient Centric Healthcare App Market.
Strength: The patient centric healthcare app market focuses on patients’ needs and supports their overall well-being. Apps helps patients manage their healthcare efficiently.
Weakness: Healthcare apps requires significant funding to develop advanced features. Lack of awareness among patients about available healthcare apps.
Opportunity: Growing adoption of smartphones and healthcare IT provides opportunities to leverage mobility for patient centric care. Increasing focus on personalized care using digital health tools offers scope for app developers.
Threats: Concerns around data privacy and security hampers growth. Lack of regulatory guidelines poses challenges related to quality and safety.
The global patient centric healthcare app market is expected to witness high growth over the forecast period from 2023 to 2030 at a CAGR of 39%.
Regional analysis comprises: North America dominates the market currently due to high mobile penetration and presence of advanced digital healthcare infrastructure. Asia Pacific is expected to grow at fastest pace due to increasing focus of governments and companies on patient centric healthcare.
Key players related content comprises: 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.). These players are focusing on developing innovative apps and solutions to empower patients and enable virtual care.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it