The increase in the demand for personal healthcare monitoring and tracking devices is providing new opportunities to the personal health record software market.
Covid-19 Impact & Market Status
The COVID-19 situation had severely impacted the growth and development of various companies. Due to lockdown, many organizations had to stop their work due to the unavailability of infrastructure, transportation, labourers, and many other services. Also, the health of many people was affected due to the spread of viruses and other diseases like cough, throat issues, etc. Hence, personal health and hygiene became the priorities of many people. To help people to come up with a proper health tracking and monitoring plan, various companies developed software platforms that could help people with the same.
The global Personal Health Record Software market worth $16.84 Million by 2030, growing at a CAGR of 9.7%
These platforms are highly reliable and help people to keep regular track of their health status so that they can maintain their sleep patterns, diet, exercise schedule, and much more.
The web design and cloud platform are some of the best platform development combinations for healthcare applications.
Various software platforms have been developed for personal healthcare record monitoring and tracking. This has helped people to take note of their daily health status so that they can maintain their daily health and well being. These platforms provide various features like tracking step count, pulse rate, sleep pattern, and much more. Hence, it helps a person to seek a doctor’s advice if required and for this, it provides a specific feature. For these platforms, the web architecture is highly recommended as it can be used in various devices and across various operating systems. Hence, the compatibility issue is solved and the users can avail various features according to their requirements.
With the usage of the cloud for deployment, the health record platforms have been able to connect to various devices and monitor the health status of a person in various modes that includes resting, working, etc. In this way, the platform serves as a multi-functional tool that provides suggestions for various activities like planning, scheduling, etc.
The growth and advancement of various technologies are driving the global health record software market by developing various advanced applications.
There were many cases when various organizations were trying to motivate people to take their health seriously to maintain a work-life balance. In today’s world, everyone is busy with more than one task in hand and this busy schedule keeps on growing with the technology advancement as new opportunities expand work scope. With this, people are completely indulged in their work and have no time to monitor and track their health status. A high workload decreases the immunity and growth rate of an individual, hence, there is an urgent requirement for a platform to monitor the health status of a person.
For this, there are various applications developed by the IT sector to help people in their busy life schedule so that they can pay attention to their health and wellbeing also. With these applications, a person can track his heart rate, energy level, calories intake, water intake, aerobic respiration requirement, etc.
The Compound Annual Growth Rate (CAGR) of the global personal health record software market is expected to be 9.87% with increased market size of USD 14.31 Million.
There are various applications of these software platforms for a sedentary lifestyle and an active lifestyle. People who live a sedentary lifestyle find it difficult to keep a track of their daily health status, hence, this software plays a major role in tracking and monitoring their health status so that they can maintain their diet, exercise, and sleep schedule. These features are very important so that all the internal body functions take place properly. With this software platform, a person can also set reminders for various tasks like mealtime, exercise, yoga, and many other things. Hence, it works like multi-tasking and multi-functional platform.
For those who live an active lifestyle, it helps to maintain regular calories intake and calories burnt data. If a person goes to a gym or does any other sort of exercise, this platform will fetch required data and provide a precise statistical analysis based on the data taken like pulse rate, water level, etc. Hence, this is a very beneficial tool to keep track of daily activities and health status at the personal level. It is a useful device when it comes to hiking, mountaineering, etc. as it provides total step count to measure the calories burnt and other required data.
Many personal healthcare record software platforms stores necessary previous histories so that one can use them in case of future requirements, e.g. while planning a daily exercise routine, diet chart, or while visiting a doctor. Many personal health record software platforms have the option of consulting a doctor in case of an emergency. In this way, it provides a complete toolset that can be required in the future or in case of any emergency. These features make the personal health record software effective and efficient, and it is very compatible.
Though there are various advantages of using the personal health record software, the major restriction to its growth and development is the high cost associated with its production. The personal health record software market requires expensive tools and techniques for the development of software platforms. The technology stack required for the development and deployment of these software platforms is complex, hence, it requires skilled technicians and developers so that the platform won’t have any issues. Also, the investment for the complete lifecycle of the software is very high as it covers various test cases and training algorithms.
As people are taking their health seriously, there is an increase in the demand for these personal health record software platforms as they help individuals to track and monitor their health status themselves. It provides them precise output and also provides suggestions based on the analysis made after fetching the required data. This helps the customers to plan a proper daily schedule to maintain their health and balance their work accordingly.
The government of various nations is investing heavily in these personal healths record software platforms as they help them to increase the health rate of their citizens. For this, many potential companies are trying their best to increase the user satisfaction and compatibility of these software platforms so that people of various age groups can use them without any issue. They are trying to modify the technology stack used so that it can be affordable to a large section of society.
The major players of the global personal health record software market are Validic, Healthspek, Zapbuild, Health Companion, 75Health, NoMoreClipboard, Knapsack Health, Patient Ally, SoftClinic Software, Records for Living Inc., JVS Group, and Practice Fusion Inc.
Latest Innovations in the Global Personal Health Record Software Market: a Snapshot
- Many potential companies like Health Companion, Practice Fusion Inc., etc. are trying their best to increase the CAGR of the personal health record market by the end of the forecast period.
Personal Health Record Software Market Scope
|Revenue forecast in 2030
|USD 16.84 Million
|CAGR of 9.7% during 2020-2030
|Component, Deployment Model, Architectural Type, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Validic, Healthspek, Zapbuild, Health Companion, 75Health, NoMoreClipboard, Knapsack Health, Patient Ally, SoftClinic Software, Records for Living Inc., JVS Group, and Practice Fusion Inc.
Key Segments of the Global Personal Health Record Software Market
Component Overview, (USD Million)
- Software & Mobile Apps
Deployment Model Overview, (USD Million)
Architectural Type Overview, (USD Million)
- Payer Tethered
- Provider Tethered
Regional Overview, (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa