Technology Driven Advancements to Boost the Therapeutics Apps Market Growth

Wed, 02 December 2020 12:18

Market Overview

Therapeutics apps are a software program that runs on smartphones and other communication devices connected to smartphones and tablets for use, often powered by accessories. These mobile medical applications are commonly used for data processing, bookings, health education, health information, and wellness management in the healthcare industry. One of the most common examples of the same is healthcare applications installed right on consumers' smartphones, often referred to as mhealth (mobile health) apps.

Impact of Covid-19

With a global pandemic, an unprecedented economic crisis and uncertainty have descended upon every market sector. Hence as the healthcare industry faces crisis and difficulties in handling the increased patient volume and providing properly on one medical support, there is no surprise that the remote healthcare sector via therapeutics apps market is on the rise. An increasing number of such apps have claimed to be rising to the occasion. For instance, a New York based app called TalkSpace allows the user to connect with a licensed medical practitioner.

Apps such as TalkSpace, claim to connect clients to online medical officials remotely for approximately USD 40 a week. For example, with COVID-19-related stress on apps such as Wysa, an artificial intelligence therapy platform, there has also been a rise in users. Wysa provides video sessions with human therapists; the simple free plan allows you to text a bot in the form of an animated penguin that provides exercises and advice for mental wellbeing.

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Key Highlights

  • Today these medical therapeutic apps are immensely growing in popularity and usage. These medical applications can enhance the interaction between the patients and the concerned medical practitioners across various checkpoints.
  • A variety of therapeutic medical apps have been developed to monitor patients' health metrics and provide the time to time data to physicians. The modern age technology boosted by strong internet usability is driving the therapeutics market growth.
  • With the easy accessibility to both smartphones and high-speed internet connections, the cost of accessing medical or therapeutic counseling has reduced significantly, thus broadening the end-users from a range of economic status.
  • Remote patient care apps, coupled with connected wearable devices, holds a significant share in the market. These apps monitor the body's health status and alarms instantly to changing health metrics. These are often powered by the latest technologies and offer personalized care. 
  • Due to multiple factors, such as the increased prevalence of chronic diseases such as obesity, diabetes, coronary artery disease, congestive heart failure, and cancer, these services dominate the mHealth sector. The rising prevalence of chronic diseases has further driven these apps' needs, such that patients can have home base care and monitoring.
  • The largest share of the market for medical or therapeutic apps is held in the area of North America, which can be attributed to factors such as the high penetration of smartphones, tablets, and other mobile platforms, increased use of connected devices and apps for medical purposes, the growth and acceptance of emerging technologies, and growing interest from government authorities and initiatives.
  • Increasing geriatric populations also drive the demand for mHealth technologies in countries such as China, India, and Japan and the increasing burden of chronic conditions. The increase in the number of government digitalization programs in emerging economies such as India and China is expected to drive digital healthcare solutions.
  • The major industry leaders operating in the Global therapeutics market are AgaMatrix, Inc. (U.S.), Medtronic plc (Ireland), AirStrip Technologies (U.S.), Nike, Inc. (U.S.), Omron Corporation (Japan), Withings (France), BioTelemetry, Inc. (U.S.), athenahealth, Inc. (U.S.), Cerner Corporation (U.S.), Philips Healthcare (Netherlands), AT&T, Inc. (U.S.).
  • In April 2020, APAC based company Akili launched a product called EndeavorRx, that is an FDA approved prescription treatment for attention in children with ADHD.
  • In June 2020, ResApp Health announced the launch of SleepCheck, a clinically validated at-home sleep apnoea screening app for the U.K. and Australia regions.

Therapeutics Apps Market: Segmentation

By Type of Application

  • Glucose Monitor Apps
  • Blood Pressure Monitor Apps
  • Peak Flow Meter Apps
  • Pulse Oximeter Apps
  • ECG Monitors Apps
  • Chronic Disease Management Apps
  • Health and Fitness Apps
  • Personal Health Record Apps
  • Other Apps

By Therapeutic Category

  • Weight Loss
    • Obesity
    • Weight management
    • Fitness
    • Nutrition
  • Women Health
    • Pregnancy
    • Fertility
    • Others
  • Disease Management
  • Diabetes
  • Cardiovascular
  • Respiratory
  • Cancer
  • Others
  • Mental Health
  • Others

 By Services Provided

  • Remote Monitoring
  • Consultation
  • Drug Reference
  • Diagnostics
  • Medical Monitoring Systems
  • Clinical Support Systems
  • Electronic Medical Records

By End-Users

  • Healthcare Authorities
  • Medicare Practitioners
  • Therapists
  • Patients
  • Others

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Korea
  • Australia
  • Southeast Asia
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Chile
  • The Rest of Central and South America and the Caribbean

The Middle East and Africa

  • South Africa
  • Egypt
  • The UAE
  • Saudi Arabia
  • The Rest of MEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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