Patient Centric Healthcare App Global Market Report 2024

The patient centric healthcare app market size has grown exponentially in recent years. It will grow from $15.96 billion in 2023 to $21.77 billion in 2024 at a compound annual growth rate (CAGR) of 36.4%. The growth observed in the historical period can be attributed to factors such as heightened digitalization, escalating healthcare costs, increased patient empowerment, a growing demand for convenience, and the presence of barriers to healthcare access.

The patient centric healthcare app market size is expected to see exponential growth in the next few years. It will grow to $75.53 billion in 2028 at a compound annual growth rate (CAGR) of 36.5%. The anticipated growth in the forecast period can be attributed to the expansion of telemedicine, integration of IoT devices, the development of personalized treatment plans, the implementation of predictive health analytics, and the utilization of blockchain for enhanced data security. Significant trends expected during this period encompass a sustained emphasis on data privacy, the adoption of value-based care models, increased integration with wearable devices, the utilization of personal health records (PHR), and a heightened focus on enhancing user experience (UX).

The growth of the patient-centric healthcare app market is expected to be driven by the increasing demand for telehealth and mobile health services. Telehealth and mobile health services leverage telecommunications technology, such as video conferencing, mobile applications, and remote monitoring devices, to deliver healthcare services and remotely access medical information. Many patient-centric healthcare apps incorporate these services to offer convenient and accessible healthcare solutions, including remote consultations, urgent care and triage, mental health support, and the collection of behavioral and health indicators provided by patients. For example, data from Supportive Care ABA in March 2023 indicated that in 2021, 13% to 17% of US patients used telehealth, reaching 24.2 million individuals, with a projected increase to 27.6 million by 2022. Additionally, Vicert d.o.o. reported in December 2022 that 62% of smartphone users had health apps, 77% of adults received health information through their mobile devices, and there were 350,000 mobile health apps available in 2022. The rising demand for telehealth and mobile health services is thus a key driver for the growth of the patient-centric healthcare app market.

The growth of the patient-centric healthcare app market is the increasing prevalence of chronic diseases. Chronic diseases are persistent health conditions that last for an individual's entire life, and patient-centric healthcare apps play a crucial role in managing these conditions. These apps empower patients through continuous monitoring, personalized care plans, and timely information, thereby enhancing self-management and overall treatment outcomes. According to the National Center for Biotechnology Information (NCBI) in January 2023, the number of people aged 50 and above with at least one chronic illness is projected to increase by 99.5% by 2050, from 71.522 million in 2020 to 142.66 million. This growing prevalence of chronic diseases is a significant driver for the growth of the patient-centric healthcare app market.

The integration of technological health applications is a prominent trend gaining traction in the patient-centric healthcare app market. Major companies in this market are actively developing innovative technological health applications to maintain their competitive positions. For instance, in May 2021, Proximus plc., a Belgium-based mobile telecommunications company, introduced Doktr - an innovative patient-centric teleconsultation app. This app enables patients to conveniently and securely contact qualified doctors, offering a valuable alternative for those who cannot or prefer not to visit a doctor's office. Doktr proves particularly beneficial for individuals with busy schedules or those residing in rural areas, providing a time-saving, cost-effective, safe, and secure healthcare solution.

Major players in the patient-centric healthcare app market are emphasizing the introduction of advanced data-driven platforms to gain a competitive edge. An example of this is the Prognos Marketplace, a data-driven platform launched by Prognos Health, a US-based telehealthcare company, in March 2021. Prognos Marketplace facilitates the exchange of valuable healthcare insights, enabling stakeholders to make informed decisions and optimize patient outcomes. The platform offers a novel approach to accessing, managing, and applying de-identified patient data for integration and analysis. It allows for the agile exchange of integrated, patient-centric data among key healthcare stakeholders, incorporating built-in AI and machine learning capabilities, enhanced data standardization, linkability, and analytics.

In December 2021, Baxter International Inc., a US-based healthcare company, acquired Hill-Rom Holdings Inc. for $15 billion. This strategic acquisition aims to expand Baxter International's product portfolio, accelerate its growth in the connected care market, and offer customers a broader range of products, including critical care products. Hill-Rom Holdings Inc., a medical technology provider, brings to the table medical communication apps for caregivers and families, further enhancing the capabilities and offerings within the patient-centric healthcare app market.

Major companies operating in the patient centric healthcare app market report are Apple Inc., Google Inc., Pfizer Inc., Johnson And Johnson Private Limited, International Business Machines Corporation (IBM), Merck And Co. Inc., Bayer AG, Novartis AG, Cisco Systems Inc., Oracle Corporation, Koninklijke Philips NV, GE HealthCare Technologies Inc., Baxter International Inc., Boston Scientific Corporation, Athenahealth Inc., Siemens Healthineers AG, Klick Inc., Altoros Systems LLC, Chetu Inc., iPatientCare LLC, Appinventiv Technologies Co, QuyTech Pvt Ltd., RipenApps Technologies CO, Zco Corporation, MobileSmith Inc., Assurecare LLC, McKesson Corporation.

North America was the largest region in the patient centric healthcare app market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient centric healthcare app market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the patient centric healthcare app market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key technological categories within patient-centric healthcare apps include phone-based apps, web-based apps, and wearable patient-centric apps. Phone-based apps are software applications tailored for use on mobile devices such as smartphones and tablets. They can be deployed on-premises or through cloud-based models, supporting various operating systems such as iOS (iPhone operating system), Android, Windows, among others. These apps are typically classified into wellness management, disease and treatment management, and other categories. They serve a diverse range of stakeholders, including healthcare payers, providers, patients, vendors, and other relevant parties in the healthcare ecosystem.

The patient-centric healthcare app market research report is one of a series of new reports that provides patient-centric healthcare app market statistics, including patient-centric healthcare app industry global market size, regional shares, competitors with a patient-centric healthcare app market share, detailed patient-centric healthcare app market segments, market trends and opportunities, and any further data you may need to thrive in the patient-centric healthcare app industry. This patient-centric healthcare app market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The patient-centric healthcare app market includes revenues earned by entities by providing services such as appointment booking, virtual consultations, medication management, health tracking and monitoring, secure messaging, and communication. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.