In a recently published report, Patient Centric Healthcare App Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Patient Centric Healthcare App Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
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 2020-2027. 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.
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.
Major market player included in this report are:
Allscripts Healthcare Solutions, Inc.
International Business Machines (IBM) Corp.
Koninklijke Philips N.V.
Merck & Co.
Novartis International AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Wearable Patient Centric Apps
By Operating System:
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Diseases & Treatment Management
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Patient Centric Healthcare App Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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