According to a recent report by Kalorama Information, the market for mobile healthcare software apps was worth about $150 million in 2011. Previous studies from the research firm in years past have pegged the market at $41 million in 2009 and $84.1 million in 2010. As we wrote in 2010, the year-over-year growth in professional medical app revenues at that time more than doubled. As the $150 million estimate for 2011 shows, revenues for medical apps has still grown year-over-year but instead of doubling revenues, medical apps for healthcare professionals brought in just under 80 percent more revenues in 2011 than they did in 2010.
Kalorama has previously stated that in 2009 the $41 million market for medical apps made up just about 1.5 percent of the total mobile app market. In its most recent report, Kalorama makes a similar statement. According to a written statement the firm issued about its newest apps report, medical apps still make up just 1 to 2 percent of the overall app market:
"While the overall mobile app market is expected to continue to display strong double-digit growth through 2016, the medical app market will also continue to grow -- at a faster rate," the research firm stated. "Although they make up just 1-2 percent of the entire market for mobile apps, Kalorama finds that healthcare apps will grow 25 percent annually over the next five years, compared to still-impressive 23 percent growth estimated for the standard apps market."
Judging by the more than 100 percent annual growth rate for medical app revenues between 2009 and 2010 and the almost 80 percent growth between 2010 and 2011, an expected 25 percent annual growth over the next five year certainly indicates a deceleration from the initial boom. Still, that is solid growth for years to come. Kalorama Information's Publisher Bruce Carlson told MobiHealthNews that every new technology finds an initial spike in year-over-year percentage growth before settling into a more steady growth rate. Carlson characterized Kalorama's 25 percent year-over-year growth rate for this market as "conservative", like most of Kalorama's work. He also said, as expected, that the firm is usually right.
Kalorama also found that the average price of medical apps has not changed in the past three years: According to the research firm it still hovers at around $15, just as they found them to be priced in 2009. MobiHealthNews' own data on average prices for professional medical apps indicated a different trend: The price of professional medical apps is slowly but steadily dropping. In our research the average medical app intended for use by healthcare professionals cost about $9 in mid-2010 and it dropped to just under $8 in mid-2011.