North America Patient Centric Healthcare App Market Expected to Reach $57,493 Million, by 2025Download Sample Reports Overview
According to a new report published by Research Dive, titled,"North America Patient Centric Healthcare App Market : North America Opportunity Analysis and Industry Forecast, 2019–2025”,the North America patient centric healthcare app market was valued at $7,013 million in 2018, and is projected to reach $57,493 million by 2025, growing at a CAGR of 34.8% from 2019 to 2025.
Patient centric healthcare apps are used to perform tasks such as patient wellness management, and management of disease and treatment. These apps are developed to deliver services related to patient health with an ultimate aim of improving patient health. In addition, these apps provide access to health records, medication history and other data to manage diseases. Patient centric healthcare apps are used in hospitals, and clinics to collect patient data. Moreover, these are also used at patient’s end to manage various aspects related to health.
The major factor that boost the growth of the North America patient centric healthcare app market are surge in demand for personalized care across the region. Increase in use of technology in the region, innovation in the field of digital healthcare and rise in prevalence of chronic diseases are another factors that contribute toward the growth of this market. In addition, adoption of patient centric healthcare apps in North America is anticipated to propel the market growth. However, uncertain regulations and risk associated with data security hamper the growth of the North America patient centric healthcare app market. Rise in digitalization and surge in awareness related to use of patient centric healthcare apps are anticipated to provide lucrative opportunities for the market during the forecast period.
On the basis of technology, the phone based app segment was a major revenue contributor in 2018. In addition, this segment is expected to maintain its dominant position throughout the analysis period due to growing need for managing health leading to the evolution of mobile apps for healthcare solutions. Moreover, wearable patient centric app is the fastest growing segment during the forecast period owing to the introduction of smart clothing, wearable cameras, smart glasses, and smart headphones with healthcare app connectivity.
According to operating system, the iOS segment generated the highest revenue in 2018 as it is based upon using multi touch gestures and direct manipulation, which enables faster accessibility while using various iOS applications. Moreover, android segment is the fastest growing segment in the forecast period owing to new product developments in the forecast period based on android operating systems.
On the basis of category, the wellness management segment acquired the major share of North America patient centric healthcare app in 2018. This is due to rise in awareness among people regarding maintenance as well as improvement of the health status. In addition, studies and surveys carried out by the Institute for Healthcare Informatics in 2015 indicate that of all the total apps developed for patient centric care approximately 65% of them are wellness management apps. Moreover, startup companies in the developing countries focus on the development of wellness management apps, which boost the market growth. Furthermore, disease and treatment management segment is the fastest growing segment during the forecast period owing to reduction in cost associated with treatment and doctor consultations, as the patient can consult a doctor without visiting the doctor in person at a clinic or a hospital.
According to end user, hospitals segment generated the highest revenue in 2018 owing to rise in adoption of patient centric healthcare apps among doctors as these lead to better management of clinical communication.
In 2018, U.S. accounted for the major share of North America patient centric healthcare app market size and is expected to continue this trend owing to surge in adoption of patient centric healthcare apps, and surge in awareness related to benefits of these apps.
KEY FINDINGS OF THE STUDY
- Phone based app accounted for the major share of the market in 2018.
- U.S. accounted for major market share in 2018 and is expected to maintain this trend throughout the forecast period.
- The hospitals in the end user segment is anticipated to grow at a CAGR from 2019 to 2025.