You’re considering the development of a mobile MedTech app, and that means you’re on the right track. There’s no sector in the mobile app world that is quite as successful and diverse as the medical/health/fitness/wellness sector, and there are innovations and improvements seemingly every day. It’s a lot to keep track of all the latest trends and emerging technologies, especially in the MedTech world, and, if you’re thinking of jumping into this ultra-competitive market now, there’s a few matters you should consider when developing your MedTech app.
App Market
Just in case you might have some doubt about the viability of the MedTech app market, here’s a couple of stats to reassure you, as per this report:
- Global healthcare mobile app market is expected to reach $332.7 billion in spending by 2025.
- That’s compared to $30.3 billion spent in 2017, with an expected compounded annual growth rate of almost 35% over those 8 years. That is explosive growth in a crowded market.
Spending on all sorts of healthcare aspects is always growing. Because of that, there is always a push to make healthcare more affordable and accessible to the global population. Thinking about how you can make any of the healthcare industry more efficient and less costly would likely be a wise decision.
Niches in App Development
There are two trains of thought when it comes to which sector of mobile MedTech apps to attach your app to. You can start your strategy by targeting the most popular and successful niches of the current healthcare app industry, like fitness trackers or chronic condition management, and finding ways to improve upon or realign existing features. For example, making fitness tracking social, where you can compare progress or issue challenges to family and friends, has completely changed this genre of MedTech apps. Keep in mind that these popular sectors have a fiercely competitive market that is occupied by industry giants.
You could also explore niches that are less represented and spoken for. This opens up a wealth of opportunities for an innovative app that addresses lesser known conditions and areas of wellness. Think about diseases like Parkinson’s, where some wearables and IoT devices that can detect various levels of tremors could be deployed. As with many other popular medical devices, storage and transmission of patient-generated data is a key feature, and should always be considered.
Healthcare Worker-Facing Apps
Since we’ve discussed primarily patient-facing apps so far, it would be remiss if we didn’t talk about apps designed to help all manner of healthcare professionals. Doctors need lots of help, especially those who work brutal hours and face burnout, so any way to help them manage their practice is valuable indeed. Tasks like symptom diagnosis, prescription management, and rehabilitation planning can all be made more efficient and effective with the aid of MedTech apps. Nurses and assistants can be aided by an app that accurately counts empty beds or brings up recent records at the touch of a button. Even administrators and financial professionals can benefit from organizational apps in a clinical setting.
And don’t forget the students. Medical school is extremely challenging and stressful, and apps that offer study guides, anatomy and physiology charts, or other resources will be massively adopted if they are effective.
App Conditions
Chronic conditions represent the majority of diseases that tax the healthcare system and end up with disability or death. Diabetes, heart disease, cancer, and obesity are all major concerns in America, and ways to manage and monitor these conditions are highly sought after. Apps that measure blood sugar levels, irregular heartbeats, or high blood pressure become crucial to patient self-care, and many are able to store and transmit this data to doctors. In emergency situations like those, there are apps that can also notify friends or family to a dangerous situation, while also contacting first responders in the area.
In addition to directly monitoring these conditions, there is value in apps that supplement the symptoms and emotional distress that these diseases present. Social networks that support cancer survivors, for example, or guided meditations to reduce stress levels in chronic patients can be extremely helpful to patients and caretakers alike.
App Regulations
While there is ample opportunity in the mobile MedTech app market, it’s important to note that there are basic rules and regulations pertaining to these apps. Specifically, you need to focus on your transmission and storage of data and the accuracy of your app.
HIPAA is the federal regulation regarding patient privacy. All healthcare professional organizations, from hospitals to pharmacies to insurance agencies must take measures to protect personal health information (PHI) of the patients. This includes business associates, who can be various third-party providers, and any records or electronic data they may store, transfer, or otherwise share. To be fully compliant, you need adequate security measures (i.e. encryption and authentication) and proper training for anyone involved in the situation. It’s a complex process, so consulting with an experienced app development partner is highly recommended.
Apps that allow secure communication and transmission between various doctors and specialists is also a hot sector. Many patients, especially those with chronic conditions, require multiple physicians to manage their disease, so providing healthcare professionals with a worry-free forum to consult and share with each other is particularly valuable.
Apps that provide monitoring services, like an app that measures blood pressure, also has an obligation to be accurate. Failure to provide a reliable and accurate monitor can affect the success of your app, irreparably damage your reputation, and even subject you to legal repercussions. Extensive beta testing is the best way to assure the accuracy of your app.
Summary
There are several more factors to ponder when considering the development of a mobile MedTech app. Do your research, keep abreast of all the trends, and carefully vet any app development partner you may choose to pair with. If you play your cards right, you could have the next big healthcare app on the market.
Do you have an idea for a MedTech app? Check out more information about our MedTech experience and don’t hesitate to reach out for a free consultation!
