Medical - Russia

Russia

The Medical market in Russia is expected to achieve a total revenue of US$7.85m in 2022.
This projection indicates a promising growth potential for the industry.
Furthermore, a steady annual growth rate of 11.11% (CAGR 2022-2027) is expected, leading to a projected market volume of US$16.87m by 2027.
Within the Medical market, the revenue generated through in-app purchases (IAP) is predicted to reach US$4.65m in 2022.
This highlights the increasing trend of users engaging in app-based transactions within the medical sector.
Additionally, the revenue generated through paid apps is projected to reach US$0.50m in 2022, indicating a willingness among users to invest in medical applications.
Advertising revenue in the Medical market is also expected to contribute significantly, reaching US$2.71m in 2022.
This showcases the growing interest of advertisers to target the medical industry and its potential consumer base.
The number of downloads within the Medical market is projected to reach 9.10m downloads in 2022.
This indicates a high demand for medical applications among users.
Moreover, the average revenue per download is estimated to be US$0.86, indicating the potential profitability of each download.
In a global perspective, it is worth noting that in the United States leads in generating the highest revenue within the Medical market, with an expected revenue of US$485.00m in 2022.
This demonstrates the dominance of the United States in the medical industry on a global scale.

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.