Digital Health

In 2024, the projected revenue in the Digital Health market in Asia is estimated to reach a staggering US$66.97bn.
This market is expected to experience a steady annual growth rate of 8.25% from 2024 to 2029 (CAGR 2024-2029), resulting in a projected market volume of US$99.57bn by 2029.
The average revenue per user (ARPU) is predicted to be around US$63.34.
When comparing the global market, it is noteworthy that United States will generate the highest revenue in the Digital Health market sector, with an estimated value of US$47.12bn in 2024.
Additionally, the largest market within Digital Health market will be Digital Treatment & Care, which is expected to generate a total revenue of US$42.21bn in 2024.
In Japan, the Digital Health market is seeing a surge in telemedicine services due to the country's aging population and the need for remote medical consultations.

Definition:

The Digital Health market refers to the use of technology to improve health and healthcare delivery. It includes the Digital Fitness & Well-Being, Online Doctor Consultations, and Digital Treatment & Care markets.

Structure:

The Digital Health market is divided into three markets:

Digital Fitness & Well-Being: This market includes fitness trackers, health and wellness coaching, and tools that help individuals monitor and improve their health and well-being.
Online Doctor Consultations: This market includes telemedicine and other digital tools that allow patients to consult with doctors remotely.
Digital Treatment & Care: This market includes digital tools that are used to diagnose, treat, and manage medical conditions. It includes the Connected Biosensors and Digital Care Management markets.

Additional Information:

The growth of the Digital Health market is driven by factors such as increasing smartphone penetration, improved internet connectivity, and the growing need to curb healthcare costs. The market is also supported by government initiatives to spread digitalization across the healthcare sector. Key players in the market are introducing advanced applications to enhance the user experience and integrate with other digital platforms. The COVID-19 pandemic has accelerated the adoption of digital health solutions, particularly in the Online Doctor Consultations market.

Digital fitness and well-being
Fitness trackers
Connected Biosensors
Digital care management
Online pharmacies
Online doctor consultations
Health and wellness coaching
Digital treatment and care

Smart clothing
Smart shoes
Smart eyewear

The Digital Health market in Asia is witnessing significant growth and innovation across various sub-markets such as digital fitness and well-being, online doctor consultation, and digital treatment and care.

Customer preferences: Customers in Asia are increasingly turning to digital health solutions due to the convenience and accessibility they offer. With busy lifestyles and the need for personalized healthcare services, consumers are embracing digital platforms for fitness tracking, virtual consultations with healthcare providers, and remote monitoring of medical conditions.

Trends in the market: In countries like China and South Korea, digital fitness and well-being apps are gaining popularity among tech-savvy consumers who are keen on monitoring their health metrics and staying fit. Online doctor consultation services are on the rise in countries like India and Singapore, where long wait times at traditional healthcare facilities have created a demand for quick and efficient medical advice. Additionally, the adoption of digital treatment and care solutions is growing in Japan and Malaysia, where aging populations are driving the need for remote healthcare monitoring and management.

Local special circumstances: In countries like Indonesia and the Philippines, where access to healthcare facilities is limited in remote areas, digital health platforms are bridging the gap by providing virtual consultations and health education. Moreover, in countries like Thailand and Vietnam, government initiatives to promote digital health technologies are encouraging the adoption of innovative solutions among the population.

Underlying macroeconomic factors: The increasing penetration of smartphones and internet connectivity in Asia is playing a crucial role in the expansion of the digital health market. Rising healthcare costs, coupled with the growing burden of chronic diseases in the region, are driving both consumers and healthcare providers to explore digital solutions for better health outcomes. Furthermore, government support and investments in healthcare technology are fueling the growth of the digital health market in Asia.

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

Over 1.3 billion people will use digital health in 2024. This includes using fitness trackers and smartwatches, online doctor consultations, or any other digital treatment and care use. The utilization of digital health, particularly telemedicine, increased significantly during the COVID-19 pandemic as alternatives to physical appointments were required. Wearables such as smartwatches have been popular for some years, and still undergo steady growth. The digital health market was worth around 172 billion U.S. dollars in 2024, with a forecast for future growth.