Medically Prescribed Apps Market Key Players - Sourcebits Technologies, WillowTree, Inc (U.S.), Y Media Labs (U.S.), OpenXcell (India), ArcTouch (U.S.), Contus (India), Intellectsoft US (U.S.)

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.

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.

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Medically Prescribed Apps Market 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.), and Savvy apps (U.S.).

Increasing prevalence of chronic disease, rising demand for better technology, are major factors for driving the market growth. Additionally, increasing investment in research and development, and availability of funds drive the growth of the market. Moreover, increasing government support, changing lifestyle, and rapidly developing technology are expected to fuel the market growth during the forecast period.

Medically Prescribed Apps Market Regional Analysis:

The Americas dominate the global medically prescribed apps market owing to the presence of a huge patient population with chronic diseases, and increasing government support for research & development. Furthermore, market players of this region continue to involve in providing a quality product, which gives an edge to this region.

Europe holds the second largest share of the global medically prescribed apps market due to increasing focus of various government agencies and private players for introducing best technology which tracks the health-related issues and patient guide. Moreover, growing public awareness about medically prescribed apps is likely to boost the European market.

The Asia Pacific is the fastest growing medically prescribed apps market across the globe. Japan holds the major share of the regional market due to the availability of advanced technology and huge health care spending. Moreover, rapidly developing the economy, increasing healthcare expenditure, and the government’s initiatives for research & development are projected to drive the market in China and India over the forecast period.

The Middle East and Africa hold the least share of the global market due to limited availability of medical facilities.

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.

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

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