PATIENT CENTRIC HEALTHCARE APP MARKET ANALYSIS

The global patient-centric healthcare app market was valued at US$ 9,760.4 Mn in 2022 and is forecast to reach a value of US$ 136,397.4 Mn by 2030 at a CAGR of 39.1% between 2023 and 2030. The global patient-centric healthcare app market is experiencing strong growth due to the rise in burden of chronic diseases and growing geriatric (aging) population around the world. Moreover, increase in adoption of patient-centric healthcare apps and the outbreak of COVID-19 (global pandemic) is expected to boost growth of the market. However, factors such as high cost of development and/or investment for healthcare infrastructure and lack of interoperability across healthcare providers are expected to hamper growth of the patient-centric healthcare app market.

Global Patient-centric Healthcare App Market: Regional Insights

Based on geography, the global patient-centric healthcare app market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period due to the increasing prevalence of chronic diseases, growing geriatric population, and rise in focus on patient-centric healthcare in the region. For instance, according to the U.S. Centers for Disease Control and Prevention (CDC), by 2040, the number of older adults is expected to reach 80.8 million, and by 2060, it will reach 94.7 million. Aging increases the risk of chronic diseases such as heart disease, diabetes, cancer, dementias, and arthritis. This in turn is driving the growth of the patient-centric healthcare app market in the U.S.

Europe and Asia Pacific are also expected to witness robust growth in the global patient-centric healthcare app market due to the rise in burden of chronic diseases, growing geriatric population, and rise in adoption of EHR and mHealth in these regions. For instance, according to the European Heart Network, each year, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). Cardiovascular disease accounts for 45% of all deaths in Europe and over 37% of all deaths in the EU. This in turn is driving the growth of the patient-centric healthcare app market in Europe and Asia Pacific.

Figure 1. Global Patient-centric Healthcare App Market Share (%), by Region, 2023

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Global Patient-centric Healthcare App Market Drivers:

High prevalence of chronic diseases to propel market growth

One of the key factors expected to augment the growth of the global patient-centric healthcare app market over the forecast period is the rise in prevalence of chronic diseases. For instance, treatment of chronic disease requires constant monitoring and evaluation of physiological changes for proper diagnosis and medication. As per the World Health Organization (WHO), cardiovascular diseases account for most NCD (noncommunicable disease) deaths, or 17.9 million annually, followed by cancers (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million including kidney disease deaths caused by diabetes).

Growing geriatric population to underpin market growth

Another factor which is driving the growth of the global patient-centric healthcare app market is the growing geriatric (aging) population around the world. For instance, according to the National Council on Aging, older adults are disproportionately affected by chronic conditions, such as heart disease, diabetes, and arthritis. Around 95% percent have at least one chronic condition, and over 80% of have two or more. Moreover, over 56 million Americans are 65 and older, with projections estimating that the population of older adults will grow to 94.7 million in 2060. Chronic diseases are the leading causes of death among older adults in the U.S.

Global Patient-centric Healthcare App Market Opportunities:

Increase in adoption of patient-centric healthcare apps worldwide is expected to provide significant growth opportunities for players in the global patient-centric healthcare app market. For instance, in May 2022, MyHealthcare launched a patient-centric digital health platform in collaboration with Sakra World Hospital to deliver 360-degree patient care outcomes. A new platform will empower patients to manage their healthcare needs such as booking doctor appointments, preventive health check-ups, book diagnostics tests, manage family health, view test results and other reports, view e-prescriptions, and request for pathology tests or delivery of medicines at home.

The outbreak of COVID-19 (global pandemic) is expected to offer lucrative growth opportunities for players in the patient-centric healthcare app market. For instance, in March 2020, MobileSmith Health announced the launch of two COVID Response Mobile Apps to support hospitals in their response to the COVID-19 Coronavirus pandemic. The platforms can be deployed in 72 hours and provide timely push notifications and alerts to convey breaking news, vital updates, and facility information. COVID Response Mobile Apps allow hospitals to share reliable, accurate information on the Coronavirus pandemic with the community, hospital employees and volunteers

Global Patient-centric Healthcare App Market Trends:

Rise in adoption of EHR and mHealth is a recent trend

Digitisation and digitalisation of healthcare delivery have become a necessity to improve patient engagement, deliver integrated healthcare service, and manage patient care continuum beyond the physical hospital. Digital health solutions (EHR and mHealth), in conditions such as chronic heart disease, can support patients in health-promoting behaviors, improve their medication compliance, empower them, and enhance their communication with healthcare professionals. This in turn help reduce the number of hospital stays. This in trend is expected to continue over the forecast period, driving the growth of the global patient-centric healthcare app market.

Increase in consumer health awareness is another trend

The Healthcare industry not only imitates professionalism but also reflect emotions towards better health of the society. Several NGOs and government are running the health awareness programs to educate the people on preventive measures. These patient-centric healthcare apps are developed or designed after analysing the common reason for most of the health disorders. So, people across the world can prevent themself from many possible diseases while using these apps. Player in the market are also focusing on launching and promoting mobile health apps to manage COVID-19. This in trend is also expected to continue during the forecast period.

Global Patient-centric Healthcare App Market Restraints:

High cost of development to hamper market growth

One of the key factors expected to hamper the growth of the global patient-centric healthcare app market is the high cost of development and/or investment for healthcare infrastructure. The patient-centric apps are beneficial and important for patient health maintenance. However, the cost needed for the development of such apps is high. The deployment, management, and upgradation of these developed apps are more costly than their production. Thus, the maintenance and the final cost rise up to the cost of such apps. Moreover, these factors restrain the selling and purchasing of the apps, thereby restraining the growth of the market.

Lack interoperability in Healthcare to hinder market growth

Another factor which is hampering the growth of the global patient-centric healthcare app market is the lack of interoperability across healthcare providers. Improving healthcare interoperability is the top priority for health systems worldwide, today. Another reason why healthcare providers are wary of adopting interoperability is the risk it might bring to the confidential health data. A lack of interoperability can result in an incomplete understanding of an individual’s health needs, which can lead to poorer outcomes and higher costs. The current lack of interoperability can compromise patient safety, contribute to clinician burn-out, and waste billions of dollars a year.

Figure 2. Global Patient-centric Healthcare App Market Share (%), by Mode of Operation, 2023

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Global Patient-centric Healthcare App Market Segmentation:

The global patient-centric healthcare app market report is segmented into Mode of Operation, Application, and Geography.

Based on Mode of Operation, the market is segmented into Phone-based, Web-based, and Hybrid Patient-centric Apps. Out of which, Phone-based Segment is expected to dominate the patient-centric healthcare app market over the forecast period and this is attributed to the rise in adoption of mHealth solution or increase in adoption of patient-centric healthcare apps worldwide.

Web-based Segment is also expected to witness significant growth in the near future and this is owing to the rise in awareness among people. For web-based healthcare applications, the user does not need to download any application, and they need to just login into their account on the specified website of the healthcare provider.  

Based on Application, the market is segmented into Wellness Management, Disease and Treatment Management, and Other Applications. Out of which, Wellness Management Segment is expected to dominate the market over the forecast period and this is attributed to the rise in use of mHealth or digital applications for wellness management.

Disease and Treatment Management Segment is also expected to witness significant growth in the near future and this is owing to increase in prevalence of chronic disease worldwide.

Global Patient-centric Healthcare App Market: Key Developments

In December 2021, Baxter acquired Hilrom, a digital healthcare solution provider. The acquisition will result in broader access to care globally with product pipeline and digital care services.

In September 2021, Leidos and Nuance teamed up to integrate latter’s platform and omnichannel development tools to design and deliver custom patient engagement solutions.

In March 2021, Siemens Healthineers launched Syngo Carbon, a multi-departmental solution that is designed for enterprise-wide image reading and reporting. This software offers PACS solutions and allows access to all related generated patient data during diagnostic processes.

In June 2021, Proximus launched Doktr, a video teleconsultation service allowing patients with a basic primary care need to get in touch with a qualified doctor in a convenient and secure way.

In May 2020, Microsoft launched sector-specific cloud i.e., Microsoft Cloud for Healthcare. The platform is intended to aid providers to advance patient engagement and association among health teams with features such as telehealth and data analytics.

Global Patient-centric Healthcare App Market: Key Companies Insights

The global patient-centric healthcare app market is highly competitive. This is attributed to the rise in burden of chronic disease and growing geriatric population across the globe, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global 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.).

*Definition: A patient centric healthcare app offers health-related services conveniently from the electronic device, such as a smartphone and tablet. These apps are used by people worldwide to monitor numerous aspects of their health.