Patient Centric Healthcare App Market : Industry Analysis and Opportunity Assessment Forecast 2022-2031
“Market Overview:
Global Patient Centric Healthcare App Market is valued approximately at USD 4.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 37.2% over the forecast period. Patient-centric method plays a substantial role in a patient’s well-being by delivering optimum and quality health care. Due to digitalization and advancement in healthcare technology, there is also a surge in inclination towards patients centric care that has enabled the development of patient-centric healthcare apps. These apps are well-designed and helps providing information and delivering services to patients concerning their health. It also delivers access to health records, help in managing medications, and enable patients in their health management. Thus, these apps help in streamlining the work of medical researchers and doctors. The rising prevalence of chronic conditions such as diabetes and cardiovascular disorders, along with growing awareness among patients towards health are the few factors responsible for the high CAGR of the market during the forecast period.
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According to the International Diabetic Federation, globally, the number of adults with diabetes was about 415 million in 2015, and this number is projected to grow to almost 578 million by 2030. Similarly, as per the World Health Organization (WHO), the prevalence of diabetes among people was increased from 108 million in 1980 to 422 million in 2014. This, in turn, is likely to strengthen the demand for Patient Centric Healthcare App, globally. In addition, the rise in number of applications users followed by surging penetration of smartphones is also the prime factor fueling the market growth all over the world. According to industry estimates cited by the FDA, roughly 500 million smartphone users globally using a health care application in 2015, and this estimation is increased to almost 50% of the more than 3.4 billion smartphone and tablet users by 2018, comprising health care professionals, healthcare patients and consumers. Therefore, this factor further accelerates the adoption of patient-centric healthcare apps among people. However, the high cost of patient-centric approach and dearth of training to healthcare professionals are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Patient Centric Healthcare App market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing consumer preference towards healthy lifestyle, along with the significant presence of market players in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of chronic conditions and improving healthcare IT infrastructure in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the cancer vaccine market in the Asia-Pacific region.
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