Prescribed health apps are mobile applications that assist patients to manage their medical conditions adhering to their prescription medication regimen. In the case of prescription medication, it becomes essential to eliminate ambiguity and guesswork from the equation, especially for those who are prescribed multiple medications.
In such a scenario, prescribed health apps are not only helping patients but also are changing the way doctors interact with their patients allowing them to take their medical practice to the next level. As a result, doctors are increasingly recommending or prescribing health apps which, in turn, is fuelling the growth of the prescribed health apps market share. Moreover, the market penetration of smartphones is escalating the market on the global height.
Acknowledging the kind of traction, the market is witnessing currently, Market Research Future (MRFR) in its recently published analysis asserts that the global prescribed health apps market will perceive exponential accruals registering a fabulous CAGR throughout the forecast period .
Nowadays, service providers are leveraging healthcare mobile apps in their strategic approach to attract the cost-conscious millennial generation. The growth of the market is faster than other categories of apps. The increasing use of mobile devices in the medical field also a key factor positively impacting the growth of the market.
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The prescribed health apps market is heading with the pervasively rising number of patients suffering from chronic diseases. Growing technological advancements in healthcare drive market growth. Moreover, the increasing number of patients suffering from obesity and diabetes along with the changing lifestyle has been supporting the expansion of the market.
On the flip side, factors such as the challenges occurring during the development of these apps and the lack of technological expertise among developers are obstructing the market growth, acting as a headwind.
Prescribed Health Apps Market – Segment
The MRFR analysis is segmented into three key dynamics for enhanced understanding.
By Operating System : Windows, Androids, and iPhone among others.
By Devices : Diabetes management device, multi-parameter tracker, and cardiac monitoring device among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Prescribed Health Apps Market - Regional Analysis
The North America region, heading with its proliferating healthcare information technology/ eHealth/digital health market, dominates the global prescribed health apps market. The region is a hub for Health apps. Technological advancements in electronic health and in the field of smartphones apps have increased the market opportunity for personal healthcare apps.
The time taken to the development and upgrade the applications ensures that the designed phase has optimally utilized. Furthermore, factors positively impacting the growth of the market include well-spread awareness towards the fitness and good health, extensive uptake of health/ fitness apps, and a large pool of patients who are prescribed multiple medications.
Chronic back pain is estimated to affect over 100 MN people in the U.S. annually, and it is the primary reason why people are prescribed painkillers. Moreover, the vast majority of American adults who regularly take daily vitamins, herbal remedies, and other dietary supplements, where Medication tracking becomes essential.
The prescribed health apps market in the European region accounts for the second-largest market globally. Due to the huge demand for medication tracking app., the region registers high growth in Health apps. Some of the European countries such as Germany and the UK have established markets for Health apps. On November 23rd., 2018, the European Commission launched a public consultation on the Green Paper on mobile health, which invited comments on the barriers and issues related to the use of mHealth and health apps. These are some of the factors increasing the growth of the health apps market in Europe.
The Asia Pacific region, heading with the high uptake of technology, is rapidly emerging as a profitable market for prescribed health apps. The ongoing trend of digitalization and telehealth is one of the key driving forces behind the growth of the market in this region.
The market in India, China, and Japan heading with the augmenting uptake of health & fitness apps., increasing healthcare expenditures, and the increasing number of healthcare software solution providers predominantly contributes to the growth of the regional market. Moreover, the proliferation of smartphones drives the growth of the regional market.
Global Prescribed Health Apps Market – Competitive Analysis
Highly competitive, the prescribed health apps market appears to be fragmented owing to the presence of several large and small-scale players. These players invest substantially in R&D to develop advanced apps. Well-established players incorporate strategic initiatives such as acquisition, collaboration, expansion, partnership, and product & technology launch in order to gain a competitive advantage in this market and to maintain their market positions.
High potential growth opportunities that the market demonstrates are in turn, attracting several new entrants to the market, further intensifying the completion in the already fiercely competitive market.
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Major Players:
Key players leading the global prescribed health apps market include BioTelemetry Inc., iHealth Lab, Inc., AirStrip Technologies, Sanofi, Apple, Inc., and LifeWatch AG among others.
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