Patient Centric Healthcare App Market

Connected Healthcare Apps is the largest market segment driving the growth of Patient Centric Healthcare App Market

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The global Patient Centric Healthcare App Market is estimated to be valued at US$ 13,537.6 Mn in 2023 and is expected to exhibit a CAGR of 39% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Patient centric healthcare apps provide health monitoring and management solutions directly to patients. These apps enable better health outcomes, early detection of health issues, and improved patient engagement by allowing easier access to medical records and healthcare professionals.

Market key trends:
One of the key trends driving the growth of patient centric healthcare apps market is increasing adoption of smartphones and tablets. The widespread use of smartphones and tablets has enabled easy access to healthcare services through downloadable applications. For instance, over 60% of the global population uses smartphones, allowing for greater access to healthcare services via mobile apps. This has significantly driven the demand for customized and convenient patient centric healthcare applications.
Here is the content on the given parameters for Patient Centric Healthcare App Market:

Market key trends:
The Patient Centric Healthcare App Market is expected to witness high growth over the forecast period. With increasing pressures to curb healthcare costs, there is growing adoption of patient centric healthcare apps that empower patients to manage their health remotely. These apps provide various features like booking appointments, refilling prescriptions, accessing medical records digitally and monitoring health vitals from home. They help reduce unnecessary ER visits and hospital admissions, thereby lowering overall medical expenses. Additionally, better connectivity and adoption of smartphones is also fueling the demand for such self-service healthcare apps.

SWOT Analysis
Strength: Growing acceptance of telemedicine and digital health solutions. Monitoring health from home using apps can help patients save costs and time spent on travel.
Weakness: Data privacy and security concerns remain a challenge. Integration with different healthcare IT systems needs to be seamless.
Opportunity: Scope for remote patient monitoring and chronic disease management using features like medication reminders, vital tracker etc. Market offers opportunities to expand into developing regions.
Threats: Resistance from traditional healthcare providers. Regulations surrounding digital healthcare need harmonization globally.

Key Takeaways
The global Patient Centric Healthcare App Market Growth is expected to witness high growth, exhibiting 39% CAGR over the forecast period 2023 to 2030, due to increasing preference for self-service and digital health solutions.

The market size for 2023 is estimated to be US$ 13,537.6 Mn. North America is expected to dominate the market owing to higher rates of smartphone ownership and significant investments in digital healthcare in countries like US and Canada.

Key players operating in the Patient Centric Healthcare App Market are Bayer AG, Novartis AG, Siemens Healthineers AG, Pfizer Inc., Koninklijke Philips NV, MobileSmith Inc., Merck KgaA, MFine Pvt Ltd., Athenahealth Inc., Oracle (Cerner Corporation), ASSURECARE LLC (IPATIENT CARE), Boston Scientific Corporation, International Business Machines Corporation (IBM), Allscripts Healthcare Solutions Inc., and Baxter International Inc. (HillRom Services, Inc.).

Regional analysis: North America accounted for the major share of the global Patient Centric Healthcare App market in 2022 and is expected to witness fastest growth during the forecast period. This is attributed to factors such as rising prevalence of chronic diseases, increasing adoption of smartphones, growing geriatric population and rising investments in digital healthcare in the region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it