Prescribed Health Apps Market Synopsis:
Healthcare services are in high demand owing to the rising prevalence of diseases. The need for services is no longer restricted to healthcare organizations. The constant need for monitoring parameters has led to the development of applications that cater to the rising demand for constant monitoring requirements. Market Research Future (MRFR) has conducted a study that asserts that the global prescribed health apps market is anticipated to register a steady CAGR over the projection period 2018 to 2023.
Prescribed apps are designed for specific purposes such as health monitoring, recovery assessment, etc. Thus, the rising prevalence of diseases such as cardiovascular diseases, mental health disorders, diabetes, etc. are likely to boost revenue growth for the players of the prescribed health apps market over the next couple of years. These apps are beneficial in pain management and recovery tracking in patients who have cancer. The rising burden of cancer, in conjunction with growing awareness about the disease, is poised to fuel demand for prescribed health apps in the nearby future.
Technological advancements are expected to dominate the growth pattern of the market. New entrants are likely to enter the market in the foreseeable future leading to the expansion of the prescribed health apps market in the years to come. Market players are emphasizing on collaborating with healthcare providers for gaining an edge over competitors and capitalizing on the developmental opportunities.
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Increasing penetration of gadgets and smartphones is likely to unleash opportunities to the prescribed health apps market across the forecast period. A drastic increase in healthcare expenditure has been witnessed. The rise is backed by rising disposable income and awareness about health hazard. It is forecasted to facilitate the expansion of the global prescribed health apps market in the upcoming years.
Prescribed Health Apps Market Competitive Dashboard:
The noted players of the global prescribed health apps market profiled in this MRFR report are BioTelemetry Inc., iHealth Lab, Inc., AirStrip Technologies, Sanofi, Apple, Inc., LifeWatch AG, and Cerner Corporation.
Prescribed Health Apps Market Segmentation:
By operating system, the global prescribed health apps market has been segmented into Windows, Android, iPhone, others.
By devices, the prescribed health apps market has been segmented into diabetes management device, multi-parameter tracker, cardiac monitoring device, and others.
Prescribed Health Apps Market Regional Analysis:
The global prescribed health apps market, by region, encompasses Asia Pacific, Americas, Europe, and the Middle East & Africa (MEA). North America is, at present, leading the expansion of the market and is forecasted to maintain its prominence over the next few years. The region has been quick to respond to technological updates. This, in turn, has earned the regional market an edge over others. In addition, the consolidation of major market players in the region is anticipated to catapult the regional prescribed health apps market on upward trajectory.
Europe is also expected to exhibit similar growth trends across the forecast period. Germany and the U.K. are projected to contribute significantly towards the development of the prescribed health apps market in the region. The support extended by the European Union in the adoption of these apps is likely to favor the market’s expansion over the next couple of years. In addition, the technological advancements of the region are poised to drive market growth in the years to come.
Prescribed Health Apps Industry News:
In June 2019, Apple Inc., an American multinational technology company, has announced that it will be adding new menstrual tracking software to its Health App for upcoming iOS 13 and Watch OS 6 update.
In May 2019, Talkspace, a mental health app startup, has announced that it has raised USD 50 Mn and tied up with the biggest health insurer in the U.S.
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