Worldwide Medically prescribed apps Market | Key Players Pathfinder International (U.S.), InnovationM (India), Fueled (U.S.), Sourcebits Technologies, WillowTree | Future Outlook till 2027

The global medically prescribed apps market is expected to grow at a CAGR of ~18.8% during the forecast period 2017-2027.

Recently, medically prescribed apps have become popular and patients are accepting this advanced technology to track the fitness and health of the body. These apps provide enormous information about prevention of diseases, the price of various surgeries, availability of physician nearby, medical data calculation, and others. The demands for the medication prescribed apps is high due to increased prevalence of different lifestyle diseases such as diabetes & obesity, which requires continuous monitoring. These apps are used to continuously monitor the health of a person and notify him of new and available treatment along with their cost. Furthermore, enhance the medical knowledge, determine critical health parameters, and to provide e-prescribing, which, in turn, drives the growth of this market.

Increasing patient population with chronic diseases such as cancer, diabetes, obesity are generating the demand for advanced technology, which helps them to track their health-related issues so that they react accordingly.

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According to World Health Organization (WHO), in 2015, Around 17.7 million people died from cardiovascular diseases, which represent 31% of total global deaths. Around 7.4 million of them were due to coronary heart disease and 6.7 million were due to stroke.

A number of factors are triggering the growth of such incidences, for example, rising aging population, unhealthy diet and low physical activities. According to a research, smoking increases the possibility of diabetes; more than 60% of the global population smokes, this has increased the risk of diabetes and contributed to the growth in diabetic population. According to the International Diabetes Federation in 2016, it was estimated that 420 million adult population had diabetes, which is increasing at the rate of 8.4% and is expected to reach 625 million by 2040.

Moreover, advancing medical device technology and increasing government support in developing countries are adding fuel to the growth the market.

Regional Analysis

The Americas dominate the global medically prescribed apps market owing to the rising prevalence of chronic disease, unhealthy diets, high health care spending, and low physical exercise. Furthermore, increasing government support for research & development and the concentration of major companies have fuelled the growth of the market in this region.

Europe holds the second position in the global medically prescribed apps market owing to the government support for research & development and availability of funds for research. Although companies within this region also involved in export to the developing countries, which leads the market of Europe.

The Asia Pacific is the fastest growing medically prescribed apps market owing to the huge presence of patients with chronic disease. Additionally, rapidly developing healthcare technology is increasing demand for new technology in countries like India and China. Furthermore, increasing demand for quality devices in the healthcare provides the opportunity for the market players to fill the gap between demand and supply and maximize the profits.

On the other hand, in the Middle East and Africa holds the least share of the global market due to low research and development activities and poor healthcare infrastructure.

Key Players

Some of key the players in the market are Pathfinder International (U.S.), InnovationM (India), Fueled (U.S.), Sourcebits Technologies, WillowTree, Inc (U.S.), Y Media Labs (U.S.), OpenXcell (India), ArcTouch (U.S.), Contus (India), Intellectsoft US (U.S.), Savvy apps (U.S.)

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Segmentation

The global medically prescribed apps market is segmented on the basis of types, devices, the operating system, and the application.

On the basis of the type, it is segmented into wellness management apps, diseases and treatment management apps, women’s health & pregnancy apps, diseases specific apps, and others.

On the basis of the devices, it is segmented into the personal digital assistant, smartphone, tablet computer, and others.

On the basis of the operating system, it is segmented into windows, android, ios system, and others.

On the basis of the application, it is segmented into diabetes management, multi-parameter tracker, cardiac monitoring, and others.

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This release was published on openPR.