About Health Care
The market for MHealth will reach $102.43 billion globally this year, according to estimates from Market Research. The category includes everything from the patients calorie counter website to telemedicine apps that let the patient video chat and text with their doctor. With all this innovation, how do you sift through all the patient and fitness-centered apps to find ones that may actually be helpful in a clinical setting? Luckily, we have done the same for you. Below is a list our best medical apps for doctors and physicians.
Huge market potentials
The North America home healthcare market size was valued at USD 756.8 million in 2014 and is expected to grow at the rate of 10.9 % over the forecast period. Growing base of geriatric population, triggering incidence rate of target diseases, and the increasing need to curb healthcare expenditure as an economically viable initiative are some high impact rendering drivers of this market.
With rising prevalence of chronic diseases, treatment expenditure is expected to grow continuously over the forecast period. This personalized care is a cost-effective solution to control curbing treatment expenditure and acts as high impact rendering driver for the industry.
North America home healthcare market, by product, 2012-2022 (USD Million)
The market is expected to be primarily driven by the huge geriatric population base which is highly susceptible to various diseases such as pressure ulcers and venous stasis ulcers. As per the World Health Organization (WHO) statistics, the global base of population pertaining to the age group – 60 years and above is expected to rise by 841 million in 2014 to reach 2 billion in 2050. Therefore, the growing global geriatric population base coupled with the fact that approximately 70% of home health patients belong to the age group of 65 years and above, is expected to drive market demand during the forecast period.
Healthcare IT spending to hit $34.5B in 2014 (FY15)
Hence we have a great market in healthcare itself .We have a huge database of US / Canada hospitals, Nursing homes and Poly Clinics.
Our plan is to target Health care globally as we have already started establishing our presence in various countries like US/UK/Australia/Singapore and in Middle east.
For achieving the below figures we need to establish offices with good infrastructure and quality manpower globally. In addition to this we have to build up our infrastructure in US by integrating all major players with our Application.
Deal : After seed funding we are looking for genuine investors for launching of our products.
We are ready to offer 20% equity of our company globally against 3M USD investment. In the next phase we may need another 5M$ for expansion
- Eminence care delivers timely and relevant treatment recommendationsto providers when they need it most.
- Clinicians are guided through a series of considerations that define appropriate care and illustrate risks.
- Eminence care accelerates providers’ clinical workflowby delivering guidance on the appropriate assessment, diagnostic, and therapeutic options for each patient.
- Eminence care minimizes risk, reduces alert fatigue, and injects meaningful engagementinto the limited time physicians have with patients.
Fees for premium content or additional features. Some basic features and content of the app are available for free. The more advanced features and premium content, e.g. a customized response from a medical expert for patients or access to exclusive researches and news valuable for healthcare professionals, are available to users for a one time or periodical fee.
- In-app ads.Advertisers, like big pharmacy companies or drugstores, are likely to pay to appear on a medical app to target prospective patients. However, ads can frustrate users, so it’s important to offer only relevant advertising.
- Sponsorship.Businesses and organizations whose target audience is the same as the one being addressed by a medical app may want to sponsor it for the opportunity to offer their products/services to the app’s user base. Another option is to allow users to sponsor an app in exchange for some gifts or rewards.
- In-app purchases.While most of the features are available for free, users can buy products or real-life services via the app. For example, patients can pre-pay medical visits, purchase some healthcare-related products and supplements or order a refill on a prescription.
- Monetizing collected data.In the today’s world dominated by Big Data, information is a precious asset. If an app collects information about users, app owners can sell the accumulated data to interested parties. For instance, information about the lifestyle of formerly overweight patients who lose weight through medical therapy, diets or exercises can be valuable to fitness and pharmaceutical companies. Data can also be used to predict trends or draw insights and sharing these insights can present monetization opportunities.
- Registration fee.Patients may not want to pay for using a medical app as they are already paying for the medical service. However, healthcare services providers and physicians are likely to pay a registration fee for the opportunity to connect to patients or potential clients.
The mHealth apps market is a quickly growing industry, specifically provided the growth of mobile devices in healthcare. According to a recent study by Kalorama, there has been significantly fast growth in the mHealth app industry since 2010.
According to the study, the total worth of mHealth apps in 2010 was a mere $85 million. Since then, it has grown to approximately $489 million in 2015. Kalorama explains that while $489 million is not a huge amount in comparison to the entirety of the apps market, it still shows considerable growth for a five year span.
Furthermore, this growth is faster than many other categories of apps. According to the study, the overall app growth was 38.1 percent compounded annually over the past five years, while for medical apps it was 41.9 percent.
“In terms of revenue, medical apps have grown a tad bit faster than other app categories,” said Publisher of Kalorama Information Bruce Carlson in a press release. “Price and a willing user base are factors.”
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The study reports that increased use of mobile device in the healthcare setting contributes to this market growth. In 2010, approximately 50 percent of physicians used a mobile or smart device as a part of his or her practice. In 2015, that number has grown to about 70 percent. Thus, there are more app users, and therefore more app sales.
The study also indicates that users are willing to pay more for the apps they purchase. Currently, the average medical app price is approximately $9. This ability to increase price per app, as well as the consumer loyalty these apps accrue, are other contributing factors to the medical app market value growth.
“They can’t compete on downloads with entertainment apps, but medical apps can earn a larger price and build a loyal customer base that’s invested in the product,” Carlson stated.
According to Kalorama, Apple’s iOS platform is the most competitive platform on the market. With regards to medical app sales, Apple took in approximately $268.8 million in the past year, which is approximately 55 percent of the market. Despite the increasing competition from Android and Windows that Apple is facing, the platform continues to outperform others due to the popularity of the iPad in healthcare practices.
This large growth rate mirrors that of the total mHealth market growth. As reported by mHealthIntelligence.com, the mHealth global market is expected to grow to approximately $49.12 billion by 2020 at a compound annual growth rate (CAGR) of about 47.6 percent.
This growth may occur for similar reasons as the growth in the medical app market. According to the article, the mHealth growth rate is largely dependent on the number of devices in the hands of providers. However, the growth of the whole mHealth global market is also dependent upon the need for remote monitoring and telehealth services.
Generally speaking, the growth of mHealth services and medical apps is occurring due to increasing confidence of these services helping patients and serving health practitioner needs.