5 Healthcare Business Ideas To Explore In 2024
Are you ready to venture into the world of digital health, which is estimated to be worth millions of dollars, through your unique healthcare service? Technology for healthcare is revolutionizing this industry, including remote monitoring of patients and AI-powered diagnostics. With more than 41,517 healthcare and medical apps on the Apple App Store and 54,546 on the Google Play Store, securing an entry point in the market demands a unique concept.
The global market for mobile health apps is expected to expand by 14.9% and reach an estimated value of USD 86.37 billion in the year 2030. If you are developing a healthcare app, you must have strong business plans that increase interest and generate greater commercial opportunities. Here are some unique healthcare-related ideas for business in 2024.
1. Telemedicine Apps:
Telemedicine applications are changing the ways that patients communicate with health service providers. The telehealth and telemedicine apps market will be $288.7 billion before 2028 with a rate of 23.8%. The apps let patients set appointments, conduct video consultations, communicate with doctors, get prescriptions, and even order prescriptions. When you partner with a reputable firm to develop telemedicine apps, it is possible to expand the options and functions to make your app much more complete and easy to use.
2. Mental Health Support Apps:
Our world is fast-paced, and many feel disconnected from what is truly important. This can result in mental health problems. According to the CDC, 1 out of 5 adults living in the US is likely to suffer from a mental health issue at some time throughout their lives. Apps for mental health support help with these problems through features that include monitoring moods, therapy sessions, and group support. The apps are expected to expand at a rate of 15.2%, with a forecast revenue of $17.5 billion in 2030. Investing in these businesses can yield substantial returns while addressing the urgent need for mental health services.
3. Medical Record (MHR) Management:
Medical and hospital dispensaries create massive amounts of patient medical documents. The digital age has made the traditional method of navigating through booking no longer relevant. Medical record management applications for digital devices, also known as Electronic Health Records (EHR) systems, allow an authorized way to access health data at any time. Grand View Research estimates that the value of EHR software will increase by $38.5 billion before 2030, at an annual rate of 4.1%. The apps provide simple access and sharing of health information, making them an ideal aid for healthcare administrators and companies in the process of starting.
4. Medication Management Apps:
People often fail to take the prescribed medications, which can cause grave health problems. As per NIH studies, more than half of patients don’t follow the prescribed dosages. Medication management applications can help solve this issue by offering tools like reminders to take medication, dosage tracking, and reminders for refills. The revenues from these apps could reach $1.74 billion by the end of 2024 and then increase up to $2.77 billion in 2028 with an annual rate of 12.33%. The apps could even incorporate artificial intelligence-powered systems that allow you to order medicines when they are out of stock.
5. Fitness and Wellness Apps:
Wellness and fitness are booming trends across all ages. According to FitnessFit, there are 175 million active members of clubs across the globe, with a 30% growth in fitness app use in 2021. The fitness market will be $267.70 million at the close of 2024. It is expected to rise to $370.50 million by the year 2028, at a rate of 8.46%. Apps for fitness and wellness can include a wide range of options that include customized training plans, nutrition and food trackers, mindfulness and mental health exercises, as well as rest and recovery programs.
Conclusion:
The market for healthcare apps is set to experience significant growth through 2024, fueled by technological advancements as well as shifting consumer expectations. By focusing on the health and wellness concepts mentioned above, startups in healthcare can capitalize on business opportunities to improve overall health and efficiency.
To build a profitable health-related startup, working with a reliable health app development company with an established track record of delivering high-quality healthcare applications to international clients is vital. By using the correct methods and innovative strategies, you can develop an app with a solid foundation that meets the requirements of today’s medical market.
