Global Healthcare Gamification Market to Gain Substantial Traction through 2027: Estimated to Grow at a CAGR of 36.1% in the Forecast Period
Published | 07 April 2021
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global healthcare gamification market was worth USD 3,948.5 Million in the year 2020. The market is estimated to grow at a CAGR of 36.1%, earning revenue of around USD 32,542.4 Million by the end of 2027. Gamification has been prevalent in several industries like education, banking, e-commerce, etc. But it has recently garnered attention in the healthcare industry because of the various benefits it offers. Healthcare professionals are constantly using smartphones and other technologies to monitor the wellbeing of their patients and solve their fitness-related issues. Furthermore, clinicians are increasingly using gamification solutions such as monitoring devices and apps to collect patient vitals, increase interaction, and improve overall patient outcomes. These factors are driving the global healthcare gamification market, which is expected to expand significantly over the forecast period.
Changing Lifestyle and Health Awareness is the Key Driving Factor for Global Healthcare Gamification Market Growth
Changing lifestyle, which according to healthcare providers, is extremely unhealthy, is increasing the incidence of severe chronic diseases and mental disorders, even at a young age. Therefore, people nowadays are increasingly using gamified solutions to monitor their health and overall vitality as they become more conscious and put more effort into preserving their health.The stigma around mental health is also breaking down, and people are becoming more aware of their mental health.This is boosting the healthcare gamification market, as it provides several options for improving and tracking mental fitness.
Growing Technological Dependence Favoring the Healthcare Gamification Market
Technology has seeped into our daily life without our noticing, and healthcare is no exception. People nowadays are dependent on fitness trackers, smartwatches, and other gadgets available on the market to track and maintain their health and fitness. Gamification solutions are capable of recording every move or action of the users, enabling them to remain up to date on their health status. Healthcare practitioners are also implementing gamification tools to better manage their patients and increase their involvement.
Enterprise-Based Solutions Propelling the Market Forward
Enterprise-based solutions cover the largest share in the healthcare gamification market. Companies or organizations that monitor the wellbeing of their employees are the end-users of this segment. Growing awareness surrounding employees’ overall health which directly influences their productivity and efficiency are the driving factors for this segment’s growth. The key market players are targeting this demand and launching products solely dedicated to tracking employee’s health. In 2016, Fitbit, Inc. joined hands with several employers and companies, launching a ‘corporate fitness tracker’ to track their employee’s health habits.
Global Healthcare Gamification Market: Regional Insight
Geographically, the global education gamification market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa. North America is the leading market in healthcare gamification, followed by Europe. However, Asia-Pacificis also growing as a potential market in global healthcare gamification. This growth is the result of increasing population and technological advancements and adaptability. Countries belonging to the Asia-Pacific region like China, India, South Korea, etc., are coming up as a potential market for healthcare gamification as people in these regions are getting more aware regarding their health.
Impact of Covid-19 on Global Healthcare Gamification Market
The COVID-19 outbreak has created new opportunities for the global healthcare gamification industry.When the pandemic was declared and nationwide lockdowns were imposed, people were compelled to work from home, which had taken a toll on their physical and mental health. They soon recognized the unhealthy pattern and tried to break it. In this process, the healthcare gamification solutions like smartwatches, wellness apps, fitness tracking devices witnessed a boost, thus, propelling the overall gamification market forward. Physicians and clinicians also started embracing gamified solutions to monitor their patients' vitals in order to maximize interaction, track their wellbeing, and ultimately boost the overall outcome, all while adhering to social-distancing norms. Healthcare facilities, such as hospitals and medical schools, are also adopting a range of gamification technologies, such as AR/VR or mixed reality, to provide medical instruction and ensure patient safety.
The key players of global healthcare gamification market are Fitbit Inc., Ayogo Health Inc., Microsoft, Akili Interactive Labs, Hubbub Health, JawBone, Mango Health, Nike, Bunchball, EveryMove Inc., Cognifit, Cohero Health, Inc., Higi SH, LLC, MySugr, Rally Health, Inc., SuperBetter, LLC, Welltok, Inc., Reflexion Health, Inc., Syandus, and other prominent players.
With constant and extensive innovation through big capital investments and partnerships with research firms, big companies are leading the market and have a bigger revenue share. This makes the healthcare gamification market dense for new entrants. But as private investments in gamification startups are picking momentum, the overall healthcare gamification market is estimated to gain substantial traction.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global healthcare gamification market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global healthcare gamification market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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