Savitri Sagar is CEO of Kenzo Infotech.
The global digital healthcare market is expected to grow from $260.9 billion in 2023 to $1920.9 billion by 2033 at a compound annual growth rate (CAGR) of 22.10%. This staggering growth highlights the rapid adoption of innovative technologies and the increasing demand for accessible, personalized healthcare solutions.
Having developed mobile apps for the healthcare domain, I’ve seen firsthand the challenges involved—and what it will take for mobile health tech companies/telehealth companies to succeed moving forward.
Key Trends In Digital Healthcare Platforms
One of the main trends in the mobile health app space is arguably telehealth. For a large number of patients, telehealth is their preferred way to seek care. According to one study, 43% of U.S. adults with healthcare visits in 2022 turned to telemedicine.
Some of the biggest names in the mobile health app space offer a way for patients to manage at least some aspects of their care virtually, such as by enabling them to check their symptoms and access a physician directory and by giving them a way to quickly access their medical records and more. Another significant trend in the health app space? The use of artificial intelligence. I foresee that increasingly, AI will be leveraged by health apps. For example, some mobile health apps are leveraging AI to scan user’s bodies and pinpoint issues, such as potential skin cancer.
Recognizing The Limitations Of Health Apps
Health apps can help patients. In particular, telehealth and AI alike have various benefits in patient care.
However, health apps have their limitations as well. For instance, not every medical issue is diagnosable virtually, and AI won’t always provide accurate scan results. Health apps can offer great starting points for care, but patients should not solely rely on them.
Predictions For The Future Of Digital Healthcare Platforms
Technology and other factors are shaping the industry’s future:
1. AI-Powered Diagnostics
AI in healthcare is projected to grow at a CAGR of 38.5% between from 2024 to 2030. AI stands to significantly contribute to diagnostics, with AI tools analyzing data with greater speed and accuracy to predict health conditions early and aid with decision-making.
2. Seamless Telehealth Integration
The telehealth market was estimated to be valued at $101.15 billion in 2023—and from 2024 to 2030, is expected to grow at a CAGR of 24.3%. Virtual consultations, IoT devices, and remote monitoring systems stand to revolutionize care, making hybrid healthcare models the norm and reducing patient wait times.
3. Personalization Through Big Data
The global healthcare analytics market is predicted to grow at a CAGR of 21.1% from 2024 to 2030, enabling platforms to deliver hyper-personalized care. Big data will provide actionable insights, ensuring patients receive tailored treatment plans. In turn, this can improve patient outcomes.
4. Blockchain For Data Security
Blockchain in healthcare is expected to grow at a CAGR of 63.3% from 2024 to 2030. This technology will revolutionize data security, ensuring patient records are immutable and accessible across interoperable systems, reducing breaches.
5. The Rise Of Preventive Care
Wearable tech, which accounts for a significant portion of the digital health market, is projected to grow at a CAGR of 14.6% from 2023 to 2030. These devices, paired with predictive analytics, will empower individuals to monitor health metrics and prevent chronic conditions, potentially significantly reducing hospital visits.
6. Expanded Mental Health Solutions
The mental health app market, valued at $6.25 billion in 2023, is forecasted to grow at a CAGR of 15.2% from 2024 to 2030. Virtual therapy and AI-powered mental wellness tools will make mental health support more accessible, addressing the global mental health crisis.
7. Integration With Insurance And Payments
The global healthcare IT market, including payment and claims processing, has an expected CAGR of 15.8% from 2024 to 2030, and can simplify administrative processes and improve cost transparency. Real-time pricing tools will help reduce unexpected healthcare expenses, a key pain point for many patients.
8. Global Accessibility
Digital healthcare platforms are closing the healthcare gap in underserved regions. Mobile-first platforms are expected to increase global access, bringing essential services to rural and low-income areas.
9. Sustainability Through Smart Systems
The healthcare industry’s carbon footprint (which data indicates is “between 4.4 and 5.2 percent of the world’s greenhouse gas emissions”) can be reduced significantly through smart platforms. By adopting AI and automation, healthcare systems could lower operational costs and environmental impact.
Patient-Centric Approach: Empowerment And Protection
As health apps move into the future, in addition to focusing on solving the right problems, being patient-centric and providing integrated solutions, they should keep patient empowerment and protection top of mind.
Patient empowerment comes down to education. Health apps should connect patients with the resources they need to make informed decisions about the next steps in their care, such as offering in-app guides to different conditions, live chat options with registered nurses, robust technical support and so forth. As for patient protection, health apps should do their due diligence to make sure they are in full compliance with applicable data privacy and security laws, such as HIPAA in the United States and GDPR in Europe.
Ultimately, by taking a patient-first approach as they design and implement their health apps, health apps can create solutions that help vast amounts of people get the care they need in an accessible way.
Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
