Revenue in the Digital Health market South Korea 2019-2029

The Digital Health market covers a broad scope of technologies, including mobile health apps, connected wearable devices, and telemedicine. These technologies provide users with the tools necessary for making more thoughtful and data-driven decisions concerning their health and well-being. Products and services emerging in this market enable millions of people worldwide to monitor and record their health conditions in a more efficient and user-friendly manner. They can track physical activities, identify early signs of developing diseases, and even help to cope with psychological issues. The ubiquitous use of the internet and smartphones as well as the shift towards a healthier lifestyle and a better sense of well-being have been driving the growth of this market. The COVID-19 pandemic has been contributing significantly to this trend.

The Digital Health market can be considered from two different perspectives, wellness management and health condition management, and is therefore divided into two segments on our platform, Digital Fitness & Well-Being and eHealth. The main difference between them lies in the original purpose of using digital health products and services. Thus, the first segment is focused on products and services that enable users to track and monitor their (physical and mental) fitness behavior. The second one, in contrast, is focused on products and services that provide patients with more efficient access to care, treatment, and medicines in general with the ultimate purpose of curing diseases.

The Digital Fitness & Well-Being segment covers devices that are explicitly intended for fitness and motion tracking and apps such as fitness apps, nutrition apps, and meditation apps. The eHealth segment has a more complex structure and is focused on devices, apps, pharmaceuticals sold via the internet, and online doctor consultations. To be more specific, eHealth devices or so-called biosensors collect information on a variety of health parameters and vital signs of a person (blood pressure, temperature, blood glucose, weight) by reading or measuring this data and transmitting it via electric signals. eHealth apps help users monitor/detect/analyze their physical health conditions. Pharmaceuticals sold via the internet cover over-the-counter medicine that can be purchased without a medical prescription through online sales channels. Online doctor consultations or teleconsultations focus solely on remote consultations between patients and doctors conducted via online channels, either websites or mobile apps. These consultations can be organized by both public and private medical institutions.

Digital Health is still an emerging market with considerable potential to bring greater benefits to citizens, governments, and companies in the future. We expect further extentions of digital health products and services, since there is a clear demand for them all over the world.