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. 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.
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 prescribed health apps market 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.
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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