When it comes to pharmaceuticals and healthcare, no one can develop better solutions than us. Having worked with numerous pharma companies, we understand the digital needs and develop customized solutions and applications for better operations.
The pharmaceutical and healthcare sector is a rapidly growing industry globally and in India. According to a report by Research and Markets, the global pharmaceutical market is expected to reach $1.5 trillion by 2023, growing at a CAGR of around 5.5% during 2018-2023.
North America and Europe are the largest pharmaceutical markets, accounting for around 45% of the global market share. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period, driven by the increasing adoption of Western medicines and the rising healthcare expenditure in the region.
Ever since the pandemic, people have become more health-conscious, resulting in significant business opportunities for healthcare companies. The Indian pharmaceutical market is the third-largest in the world in terms of volume and the 14th-largest in terms of value, per a report by the Department of Pharmaceuticals, Government of India. The Indian pharmaceutical market is expected to grow at a CAGR of around 9.5% during 2018-2023, reaching a market size of $55 billion by 2023.
The healthcare industry is a broad and diverse field that encompasses several sectors. Some of the main sectors within the healthcare industry include:
Medical Devices: The global medical devices market size was valued at $539.4 billion in 2020 and is expected to reach $722.9 billion by 2027, growing at a CAGR of 4.1% during the forecast period.
Pharmaceuticals: The global pharmaceuticals market size was valued at $1.22 trillion in 2020 and is expected to reach $1.57 trillion by 2023, growing at a CAGR of 4.9% during the forecast period.
Healthcare Services: The global healthcare services market size was valued at $8.87 trillion in 2019 and is expected to reach $11.47 trillion by 2025, growing at a CAGR of 4.3% during the forecast period.
Telemedicine: The global telemedicine market size was valued at $45.8 billion in 2020 and is expected to reach $130.5 billion by 2027, growing at a CAGR of 17.6% during the forecast period.
Medical Imaging: The global medical imaging market size was valued at $29.3 billion in 2020 and is expected to reach $35.8 billion by 2028, growing at a CAGR of 2.8% during the forecast period.
The industry also faces many challenges, like supply chain disruptions and data security. However, overcoming these challenges is not a big deal if you have a clear idea and aim back at your business. With this, the startups and businesses operating within the pharmaceutical and healthcare sector are also eyeing great opportunities and possibilities.
Stay at the forefront of the Pharma & Healthcare industry with the latest advancements in mobile app development. At Nichetech, we specialize in creating secure, user-friendly, and feature-rich healthcare apps that cater to the evolving needs of patients, providers, and pharmaceutical companies.
1. Telemedicine and Remote Patient Monitoring:
Virtual Doctor Visits and Consultations: Apps are facilitating convenient virtual consultations with doctors, specialists, or mental health professionals, improving access to care for geographically dispersed populations or those with mobility limitations.
Remote Patient Monitoring with Wearables: Integration with wearable devices allows healthcare providers to remotely monitor vital signs, chronic conditions, or medication adherence, enabling early intervention and improved patient outcomes.
Chronic Disease Management Tools: Apps offer personalized dashboards for patients with chronic conditions, providing self-management tools, medication reminders, and educational content.
2. Precision Medicine and Personalized Healthcare:
AI-powered Patient Data Analysis: Big data analytics and AI algorithms are used to personalize treatment plans by analyzing patient medical history, genetic data, and real-time health information from wearables.
Genomic Testing Integration: Apps can integrate with platforms offering at-home genetic testing, allowing patients to access personalized insights into their health risks and potential treatment options.
Medication Adherence Support: AI-powered apps can monitor medication adherence, send personalized reminders, and provide educational content for patients to understand the importance of consistent medication use.
3. Focus on Patient Engagement and Mental Wellness:
Mental Health Support and Therapy Apps: Mobile apps are offering accessible mental health support, providing guided therapy sessions, mindfulness exercises, and self-screening tools for anxiety and depression.
Digital Wellness Platforms: Apps can offer personalized wellness programs, including fitness trackers, healthy eating meal plans, and sleep monitoring tools, empowering users to take charge of their overall well-being.
Patient Education and Gamification: Interactive learning modules and gamified features enhance patient education and understanding of their medical conditions, improving medication adherence and self-care practices.
4. Blockchain for Secure Data Management and Drug Traceability:
Secure Electronic Health Records (EHRs): Blockchain technology can be used to create secure and tamper-proof EHRs, allowing for controlled access and improved patient data interoperability between healthcare providers.
Drug Supply Chain Tracking: Blockchain can track the movement of pharmaceuticals from manufacturing to dispensing, ensuring drug authenticity, preventing counterfeiting, and facilitating targeted recalls if needed.
Clinical Trial Data Management: Blockchain can enhance the security and transparency of clinical trial data, fostering trust and potentially accelerating drug development processes.
5. Artificial Intelligence (AI) in Drug Discovery and Development:
AI-powered Drug Discovery and Virtual Screening: AI algorithms are used to analyze vast molecular databases to identify promising drug candidates, streamlining the drug discovery process.
AI for Personalized Treatment Recommendations: AI can analyze patient data to predict drug efficacy and potential side effects, enabling physicians to make informed treatment decisions.
Chatbots for Patient Education and Support: AI-powered chatbots can answer patients' basic medical questions, provide appointment reminders, or offer emotional support, easing the burden on healthcare professionals.
Why Choose Nichetech?
At Nichetech, we combine technological innovation with industry expertise to deliver pharma and healthcare app solutions that enhance patient care and streamline healthcare operations. Our tailored approach ensures that each app meets the highest standards of security, usability, and functionality.
Leverage the power of mobile technology with Nichetech's advanced pharma and healthcare app development services. By staying informed about these trends, pharmaceutical companies, healthcare providers, and research institutions can leverage mobile app development to improve patient care, personalize treatment plans, optimize drug development processes, and contribute to a healthier future.
I received timely and thoughtful work at all stages - scope, wireframe, build, and post-launch updates. All for the costs scoped. Will be using the NT team again.
CEO of NowArchive, USA
Been almost 8 years since we started using the services of Nichetech computer solutions. They are proactive in their approach to provide new digital solutions and simultaneously help us resolve any issues on priority.
Founder of Gifttouch, Gujarat, India
SIHL is associated with NicheTech from last 5 years... Nichetech Team is very professional in everything they do for our software requirement. They have customized everything which we need in our web application and mobile application. They are always ready to take new challanges & thier response time to any query is very less...:)
CTO of SIHL, Gujarat, India
I am professionally attached with Nichetech in capacity of CA since inception of the company. I work with founders very closely, I can definitely say that you can rely on these founders, they are professionals to the utmost extent đź‘Ť
Chartered Accountant, Gujarat, India
We have been associated with Nichetech from Day 1 of our business and they are the best Digital Strategists one could ask for! The insight and experience of the founders and a very agile and dynamic team make a very good combination for clients! If you are looking for a one-stop solution for Digital marketing-strategy and IT support for your business-This is the place to go!Cheers Team Niche Tech-Keep soaring higher!:)
Chief Pathologist, Gujarat, India
As a Founder I need a tech dev team who can hustle, but not sacrifice the quality of work. Nichetech worked hard on my MVP and if I pointed out issues, were quick to address them.
Founder of Noww Social, USA
We wanted to create POS (Point of Sale) system for Food industry Franchise, who has almost 900 stores through out the world. System was built for web and mobile version. NicheTech have great experience in building consumer product as they have great graphics skills, so it was very easy to use for customer. Combination of web and mobile expertise from NicheTech helped us to build entire solution in very reasonable time.
IT Director at Maple - US
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President & CEO of Victoria Village Child Care - Canada
We been very pleased with NicheTech service and support for all our projects. We have started their service with very small project and today they are our preferred vendor and journey has been excellent and we will will continue with NicheTech in times to come.
CEO of Wajabaty, Kuwait
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CTO of collabera - USA
Their technical strengths is admirable. With only one person working from our side, and team working at offshore, we were able to migrate whole system including data migration successfully. Through out USA, our agents are using system successfully and we are very pleased with their proficiency service.
President of Debt Helper - USA
They are with us from concept to reality . At every stage of SDLC, we were quite amazed with their technical capability and product was built on MVC platform at very early stage of MVC launch. NicheTech really believes in.
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