Medical - Africa

Africa

The Medical market in Africa is expected to witness significant growth in the coming years.
The projected total revenue for this market is estimated to reach US$9.38m in 2022.
This indicates a promising outlook for the Medical market sector in Africa.
Furthermore, the market is expected to experience a steady annual growth rate of 11.63% from 2022 to 2027, resulting in a projected market volume of US$16.15m by 2027.
This demonstrates the potential for continued expansion and development in the Medical market in Africa.
Within the Medical market, in-app purchase (IAP) revenue is projected to reach US$5.81m in 2022.
This revenue stream is expected to contribute significantly to the overall market growth in Africa.
Paid app revenue in the Medical market is also anticipated to increase, reaching US$2.48m in 2022.
This indicates a positive trend in the willingness of consumers to invest in Medical market applications within the African market.
Advertising revenue in the Medical market is projected to reach US$1.09m in 2022.
This suggests that advertising is an important revenue source for Medical market applications in Africa.
Moreover, the number of downloads in the Medical market is anticipated to reach 1.04m downloads in 2022.
This reflects the growing demand for Medical market applications among users in Africa.
Currently, the average revenue per download in the Medical market is expected to amount to US$9.04.
This metric provides insights into the profitability of Medical market applications and their potential for generating revenue in Africa.
In a global comparison, it is noteworthy that in the United States generates the highest revenue in the Medical market, projected to reach US$485.00m in 2022.
This indicates the dominance of the United States in terms of revenue generation within the Medical market worldwide.
Overall, the Medical market in Africa shows promising prospects, with projected revenue growth and increasing consumer demand for Medical market applications.
As the market continues to evolve, it presents opportunities for businesses and investors to tap into this growing sector in Africa.

Key regions: United States, Asia, Europe, South Korea, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. 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. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

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