The average spending of people on healthcare apps like telemedicine, fitness tracker, heart monitoring devices, and other health tracking apps with high-tech wearable technologies is soaring at a peak.
The world seems peculiar than it was before. Many of the business sectors, including healthcare, have experienced a huge plunge with everyone trying to manage working from home and avoiding public gatherings.
With COVID-19 chaos seen among businesses globally, this pandemic has also brought lucrative business opportunities and fueled innovations. Amongst all, the healthcare sector also saw a juggernaut of business opportunities by switching from their legacy systems and coming completely mobile.
Additionally, healthcare industry catches a crazy spike in demand for healthcare apps that cutoff the 'wait times' which people use to experience during the frequent clinic and hospital visits. Huge digital shifts are being introduced in the global market to make the whole healthcare ecosystem completely digital. After the COVID-19 pandemic, heart health has become the biggest concern among the global population making the demand of this app go soaring every other day.
Out of all, the once that saw a whopping swing in the sales curve is Cardiac monitoring devices. The reason being Cardiovascular Diseases are the highest cause of death globally.
Scroll on to the most curious data.
According to WHO (World Health Organization) Approximately 30 million people suffer from Heart Diseases across the world.
American Heart Association discovered more than half of adults of the USA population suffers from some type of Cardiovascular Diseases. And by 2030, 45.1% of the USA population is forecasted to face some form of heart disease.
This medical-grade heart monitoring IoT app idea is best for cardiac patients, clinicians, insurance companies, and COVID-19 patients to regularly monitor heart functioning and take immediate measures to recover from cardiac problems before it turns out havoc.
It's a healthcare app development idea that makes the end users stay heart-healthy and enjoy personalized heart care from anywhere at any time. This IoT app solution is so handy for users to get a medical grade ECG report without any hassle of wires or gels.
The users can get reliable and quick results on their mobile screen in a flip of seconds with accurately detecting normal heart rhythm, Atrial Fibrillation, Tachycardia, Bradycardia, and 6-lead ECG reading.
Unique Selling Point and MVP Features of Heart Monitoring App
This Cardiac monitoring IoT App idea looks upon all the missing elements that are a major concern for people in the world of Pandemic.
Check out what uniqueness this app idea offers:
Nosedive into a rock-solid business idea and see how it creates a win-win situation for you and the end-users.
Heart monitoring app has a super constructive Revenue Model
The entrepreneur can offer app services free of charge for the first month and charge a fixed amount of money from the second month for the users.
Users can be charged a fee for using premium services on the app. For instance, users can be charged a fee to download advanced heart reports, hire a certified dedicated Cardiologist, or other premium services you want to offer on the app.
A fixed fee can be charged for advertising on the app for a specified time.
The registered Cardiologists can be charged a % of commission for every payment they receive from the user.
Product Growth Cycle
#1 App launch (0 to 3 years)
Once this Cardiac Monitoring app is perfectly launched and marketed initially, the users will automatically recommend, share, and spread word of mouth to the people they know.
This will happen as and when the users will start experiencing the need of this app and make this app a part of their daily routine.
#2 Growth Stage (3 to 6 years)
After this app gets known in the market, there will be many competitors who will try to develop an app like your app.
This will be the time when you need to dive into every single problem faced by the app users, solve them, and improve user experience on the app.
This stage accounts for enhancing your app based on the features, design, expanding product line, and increasing the geographic scope of your business.
#3 Business wisdom (7 to 10 years)
After 6 to 7 years of the app launch, the business will start experiencing good stability in profits with satisfactory outputs in adopting strong marketing strategies.
This will be the time when your app will have all the necessary modifications. It will be a right move to catch attention of the audience and get user appreciation on your app.
Demography is at the heart of measuring business success. Depending on the age group, people have their personal interests for a particular product or a service.
Scaling and probing the exact age group that is expected to use the heart monitoring services you want to offer on your app will land us on the right type of target market segmentation.
People with the age group of 25 to 70 years are likely to use the cardiac monitoring app.
The users of this app can be adults and old people with a good ratio of per capita income.
Launching this app in a country with the highest population will be a smart move for the entrepreneur. Topmost ranked populated countries like India, USA, Japan, Philippines, and Mexico will drive high user engagement as per the purpose and concept of this heart monitoring app.
Based on thorough research, the entrepreneur should get detailed on the user's lifestyle, culture, education level, personality traits, and interests.
Talking about this profitable app concept, users who can use this app can be every class of people right from the upper class of society, middle class, and lower class of people.
The app provides a holistic cardiac monitoring solution that will make the user habitual of this app to be used as a routine activity.
This app has a minimalist social element to help users get reviews or share their experiences of healthcare on the app.
After the COVID-19 pandemic, heart health has become the biggest concern among the global population making the demand of this app go soaring every other day.
A big chunk of competitors will try to adopt this app concept once it goes well known in the market. So, the entrepreneur will have to make double sure that they deliver amazing app services for the users and convert them as a loyal and happy customer.
The proposed app idea of a heart monitoring IoT app is the ready recipe for visionaries to grab the opportunity and adopt a go-to-market strategy.
We at Green Apex are here to help you with anything you need to know about this app product.
Final Thoughts and What Is the Next Step?
This has been a rough highlight of myriads of app development factors that affect the cost to make your dream app.
But you might now have a true sense of the average mobile app development cost and know enough about the ideal formula of app development calculations as per the specific type of winning mobile app you want to develop and launch in the market.
If you are all set to take the next big step to develop your app, our in-house app development experts are waiting to chat.