Global Patient Centric Healthcare App Market size is expected to reach $64 billion by 2027

According to a new report published by Report Ocean, titled, "Patient Centric Healthcare App Market by Technology, Operating System, Category and End User: Opportunity Analysis and Industry Forecast, 2019–2027," the global patient centric healthcare app market was valued at $4 billion in 2019, and is expected to reach $64 billion by 2027, registering a CAGR of 37.2% from 2020 to 2027.

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Patient centric approach is acquired by healthcare systems to establish a partnership among practitioners, patients, and their families and align decisions about patient’s health, needs, and preferences toward medicine and treatment. Patient centric healthcare apps are smartphone, web-based, and wearable applications that aid users by updating them about medication times, dehydration level in the body, calories consumed, and heart beats per minute among other body parameters.

Presently, mobile penetration is more than 100% in developed markets and is expected to increase in developing markets such as Asia-Pacific, Latin America, and Africa. In addition, increase in exposure to smartphones along with 3G and 4G networks further increase the use of mobile platforms in most sectors, especially in the healthcare sector.

Some of the other factors responsible for substantial patient centric healthcare app market growth include low cost and convenience of these medical devices, technological innovations, integration of wireless technology, affordability of smartphones, government initiatives, and increase in lifestyle diseases. Factors such as lower accuracy of healthcare apps, slow adoption of patient centric healthcare apps, in underdeveloped economies, limited reimbursement coverage, lack of technological awareness among ageing population, and uncertainty in government regulations restrict the patient centric healthcare app market growth to a certain extent.

In addition, COVID-19 pandemic is another major factor that has profound effects on the patient centric healthcare app market, owing to nationwide lockdowns across the globe. These lockdowns have led to emergence of new challenges and changes, which are tedious to manage and every business is suffering. For instance, in the patient centric healthcare app industry, COVID-19 has resulted in a surge in use of patient centric healthcare app. This is attributed to low availability of healthcare professionals and limited availability of healthcare services across the globe. Thus, patients have adopted healthcare apps to manage chronic diseases such as diabetes and hypertension at home. In addition, launch of new COVID-19 symptom tracking and precaution apps for patients has also lead to surge in growth of patient centric healthcare apps market.

By technology, it is segmented into phone-based apps, web-based apps, and wearable patient centric apps. By operating system, it is divided into iOS, android, windows, and others. By category, it is bifurcated into wellness management and disease & treatment management. Wellness management is sub segmented into fitness patient centric apps, lifestyle & stress patient centric apps, and diet & nutrition patient centric apps; and disease & treatment management is sub segmented into healthcare providers/insurance patient centric apps, medication reminders & information patient centric apps, women’s health & pregnancy patient centric apps, and disease specific patient centric apps. Further, on the basis of end user, the market is divided into hospitals, clinics, and home use. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The phone-based apps segment generated the highest revenue in 2019, accounting for about 47.83% of the total market. This is attributed to the increase in smartphone penetration and smartphone users in various regions. Moreover, large number of patient centric healthcare apps are developed each year, which also contribute to the centric healthcare app market growth.

On the basis of operating system, the iOS segment generated the highest revenue in 2019, accounting for about 50% of the total share of the market, and is anticipated to continue this trend throughout the forecast period. This is attributable to the increase in iPhone and iPad users, especially in countries such as the U.S., the UK, and Canada. Moreover, the android operating system segment is expected to witness the highest CAGR of 38.00% during the forecast period, owing to increase android devices users and cost effectiveness of the system compared to iOS and windows devices. It is expected to majorly drive the growth in developing and underdeveloped economies.

Europe is expected to witness the highest growth rate for the patient centric healthcare app market throughout the forecast period. Increase in adoption of smartphones, growth in awareness of newer technologies, and increase in consumer preferences toward healthy lifestyles are prime factors that supplement the adoption of patient centric healthcare apps in this region. Moreover, continued growth in coverage of mobile cellular networks and increase in number of lifestyle diseases such as diabetes and obesity are further expected to drive the growth of the Europe patient centric healthcare app market.

Key Findings Of The Study

By technology, the phone-based apps segment occupied around half the share of global patient centric healthcare app market in 2019
By operating system, the iOS segment occupied more than one-third share of the global patient centric healthcare app market in 2019.
By category, the disease & treatment management segment is expected to exhibit highest CAGR during the forecast period.
By region, Europe is anticipated to grow at the highest rate during the analysis period.

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This release was published on openPR.