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Sep 30, 2020 10:26 PM ET

Healthcare Apps Market to witness astonishing growth by 2026 | Kare4u Healthcare Solutions, Lybrate, NovoCura Tech Health Services (mfine), Portea Medical


iCrowd Newswire - Sep 30, 2020

A new research document is added in HTF MI database of 53 pages, titled as ‘Healthcare Apps Market in India 2020‘ with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Asia-Pacific, Middle East and Africa, South America & Others and important players/vendors such as Curefit Healthcare Pvt. Ltd., DocEngage Informatics Pvt. Ltd., DocsApp, HealthifyMe Wellness Pvt. Ltd., Infomoko Technology Pvt. Ltd..The Market has witnessed continuous growth in the past few years and is projected to see some stability post Q2,2020 and may grow further during forecast year 2021-2026.

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Summary
Market insights
The consumer landscape in the healthcare industry in India has evolved in recent years. The healthcare industry is experiencing a paradigm shift from volume-based care (fee-for-service healthcare, being independent of the service quality) to value-based care (healthcare providers are charged based on patients’ health outcomes). Stakeholders in the Indian healthcare ecosystem are focusing on leveraging healthcare apps to make up for the inadequacies in healthcare infrastructure.

Increasing focus on patient-centric care, emergence of advanced technologies, and changing business models have been crucial in driving the healthcare apps market in India. In terms of revenue, the healthcare apps market in India was valued at INR 28.94 Bn in 2019 and is estimated to reach INR 200.12 Bn by 2025, expanding at a CAGR of ~36.11% during the
2020-2025 period. Wellness management and appointment scheduling apps have gained widespread popularity. The demand for chronic disease management apps is expected to grow rapidly in the next few years.

Market influencers:
Digital transformation in the country, coupled with substantial support from the government has fueled the growth of the healthcare apps market in India. The digital footprint of the country has been strengthened by a swift growth in the number of mobile subscribers and Internet users in the country. As per the Telecom Regulatory Authority of India (TRAI), the total number of broadband subscribers reached 663.78 Mn in May 2020, up from 562.52 Mn in May 2019. Approximately 60% of the population is estimated to use the Internet in India by 2022.

The market has been experiencing significant challenges due to the lack of awareness, security issues, and unsatisfactory app performance. Moreover, for majority of the consumers, fitness and wellness management are the primary areas of concern. They remain ignorant about the different types of healthcare apps available that address various other health issues. Furthermore, stakeholders are uncertain about the performance and efficiency of apps, owing to unavailability of clinical performance data. The limited availability of app content in regional languages also acts against the adoption of healthcare apps.

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Impact of COVID-19:
The onset of COVID-19 has triggered a structural change in the Indian healthcare system by encouraging the use of healthcare technologies among the people. Numerous healthcare apps have been introduced by the central and state governments to combat COVID-19. These apps are being used for digital contact tracing of confirmed and potential patients, complying with quarantine guidelines, spreading of awareness, and providing updates on

COVID-19 statistics and advisories:
Since the outbreak of the virus, numerous healthcare apps have been launched by the central and state government authorities, which have been developed and designed by small IT companies. However, the country lacks in terms of a centralized app, owing to the presence of different administrative bodies dealing and responding to the pandemic both at the central and state levels. The major concerns regarding the existence of several apps are duplication of efforts, low penetration, and lack of data privacy.

Competitive insights
The highly competitive healthcare apps market in India is fragmented with the presence of various small and medium-sized players. Several non-healthcare companies, including IT and software development companies, technology companies, and app development agencies have penetrated the market. However, the market is yet in the nascent stages, and thus, players are experimenting with different business models to accomplish monetization. Among the various models, licensing, third party app development, in-app advertising, and pay-per-download have achieved significant success.

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Companies covered
Curefit Healthcare Pvt. Ltd., DocEngage Informatics Pvt. Ltd., DocsApp, HealthifyMe Wellness Pvt. Ltd., Infomoko Technology Pvt. Ltd., Kare4u Healthcare Solutions Pvt. Ltd., Lybrate India Private Limited, NovoCura Tech Health Services Pvt. Ltd. (mfine), Portea Medical, Practo Technologies  Pvt. Ltd.

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure

Chapter 4: Market overview
4.1. Healthcare apps market in India – Overview
4.1.1. India healthcare apps market size and growth forecast (2018-202

….Continued

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