The Healthcare App Market
Search for diabetes in Google Play and you’ll get more than 1,000 apps. The less common affliction of psoriasis has at least 50 apps to choose from. And these are just two examples of the crowded market for healthcare apps.
The good news is there are ample opportunities to stand out from the pack, not only in the eyes of consumers but also physicians, hospitals and other potential customers. For instance, obtaining U.S. Food and Drug Administration (FDA) approval helps build credibility in the eyes of healthcare providers, which can be an important sales and distribution channel.
We recently spoke with Robert McCray, president and CEO of the Wireless-Life Sciences Alliance, a trade association for companies that specialize in healthcare apps and other mobile medical technologies.
There are already tens of thousands of healthcare apps. But a recent Pew Internet survey found that only 19 percent of smartphone owners have downloaded a healthcare app. What does that say about the supply and demand?