Digital Treatment & Care - Bhutan

Bhutan

The Digital Treatment & Care market in Bhutan is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$1.68m by 2024.
Moreover, it is anticipated that the market will maintain a steady growth rate, with a compound annual growth rate (CAGR 2024-2029) of 13.03%.
This growth trajectory is predicted to result in a market volume of US$3.10m by 2029.
In terms of user penetration, it is estimated that 9.20% of the population will be utilizing digital treatment and care services in 2024.
This figure is expected to rise to 11.40% by 2029, indicating an increasing adoption of these services among Bhutanese citizens.
When considering the average revenue per user (ARPU), it is projected to be US$23.03.
This metric provides insights into the financial contribution of each user to the overall revenue generated in the market.
In a global context, United States is anticipated to generate the highest revenue in the Digital Treatment & Care market.
By 2024, it is estimated that United States will contribute US$29,910.00m to the market's revenue.
These figures paint a promising picture for the Digital Treatment & Care market in Bhutan, highlighting the potential for growth and the increasing importance of these services in the country's healthcare sector.
Bhutan is embracing digital treatment and care in the digital health market to improve accessibility and quality of healthcare services in remote areas.

Key regions: Japan, India, United States, Canada, Italy

Definition:

The Digital Treatment & Care market includes devices and apps that help users monitor and analyze lifestyle-related aspects and improve their overall health. It includes user and revenue trends for four categories: digital care management, connected Biosensors, and online pharmacies.

Structure:

The Digital Treatment & Care market is divided into four markets:

Connected Biosensors: Biosensors that collect information on a variety of health parameters and vital signs of an individual (blood pressure, temperature, blood glucose, weight) by reading or measuring this data and transmitting it via electrical signals.

Digital Care Management: Various apps that help users monitor/detect/analyze physical health conditions. Contraception and fertility apps provide users with guidelines on self-care, family planning, and birth control, raise their awareness, and offer monitoring functions. Medication checker apps provide users with useful dosage intake guidelines, drug interaction information, and personal medication records.

Online Pharmacies: Over-the-counter medicine that can be purchased without a medical prescription through online sales channels. The market comprises analgesics, cold and cough medication, digestives and intestinal remedies, skin treatment products, and vitamins and minerals.

Digital Therapeutics (DTx): Software-based therapeutic interventions that deliver evidence-based therapeutic content to patients to prevent, manage, or treat a medical condition. DTx can be used to treat a wide range of conditions, including chronic diseases, mental health disorders, and substance use disorders.

Additional Information:

The digital care management user base includes paying and non-paying customers. The revenue figures only include revenues generated from paid apps offering premium options and from in-app purchases; revenues from app downloads and advertising are not included. The data only reflects B2C revenues; B2B and C2C revenues are not covered.

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Treatment & Care market in Bhutan is experiencing a significant growth trajectory with the increasing adoption of digital health solutions across the country.

Customer preferences: Customers in Bhutan are showing a growing preference for digital treatment and care solutions due to the convenience and accessibility they offer. With the rise of smartphone usage and internet penetration in the country, there is a shift towards utilizing digital platforms for managing healthcare needs. The ease of accessing healthcare services remotely is particularly appealing to customers in Bhutan, especially in rural areas where access to traditional healthcare facilities may be limited.

Trends in the market: In Bhutan, there is a noticeable trend towards the use of contraception/fertility apps and online pharmacies. The availability of contraception/fertility apps allows individuals to track their reproductive health and plan accordingly. This trend aligns with the growing awareness and importance of family planning in the country. Additionally, the emergence of online pharmacies provides a convenient way for customers to purchase medications and healthcare products without the need to visit a physical store.

Local special circumstances: Bhutan's unique geographical landscape, with its mountainous terrain and scattered population, presents challenges in accessing healthcare facilities. This makes digital treatment and care solutions particularly valuable in overcoming barriers to healthcare services. The government's focus on improving healthcare infrastructure and promoting digital initiatives further supports the growth of the Digital Treatment & Care market in Bhutan.

Underlying macroeconomic factors: The growing economy and increasing disposable income in Bhutan are contributing to the expansion of the Digital Treatment & Care market. As more individuals have the financial means to invest in their health and well-being, the demand for digital health solutions is expected to rise. Additionally, the government's investments in healthcare technology and infrastructure development create a conducive environment for the growth of the digital health sector in the country.

Methodology

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.