Digital Treatment & Care - Equatorial Guinea

Equatorial Guinea

The Digital Treatment & Care market in Equatorial Guinea is anticipated to witness a significant growth in revenue, projected to reach US$5.13m in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 4.36%, resulting in a projected market volume of US$6.35m by 2029.
In terms of user penetration, in Equatorial Guinea is expected to have a penetration rate of 5.20% in 2024, which is forecasted to increase to 6.03% by 2029.
This indicates a growing adoption and utilization of digital treatment and care services among the population.
The average revenue per user (ARPU) is projected to amount to US$56.18 in Equatorial Guinea.
This figure represents the average revenue generated per user in the country, highlighting the potential economic value of the market.
When comparing in Equatorial Guinea to global counterparts, it is noteworthy that United States is expected to generate the highest revenue in the Digital Treatment & Care market, reaching US$29,910.00m in 2024.
This highlights the dominance of the US market in terms of revenue generation.
Overall, Equatorial Guinea's Digital Treatment & Care market is poised for growth, with increasing revenue, user penetration, and average revenue per user.
As the market continues to evolve, it presents opportunities for both local and international players to tap into the potential of this market in the country.
Equatorial Guinea is experiencing a growing demand for digital treatment and care solutions to improve access to healthcare 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

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Currency

Analyst Opinion

The Digital Treatment & Care market in Equatorial Guinea is showing promising signs of growth and development.

Customer preferences: Customers in Equatorial Guinea are increasingly turning to digital solutions for their healthcare needs, driven by the convenience and accessibility offered by digital treatment and care platforms. The younger population, in particular, is more tech-savvy and comfortable with using digital tools for managing their health. The rising awareness about the importance of preventive healthcare is also influencing customers to adopt digital solutions for monitoring and managing their health conditions.

Trends in the market: One of the key trends in the Digital Treatment & Care market in Equatorial Guinea is the growing popularity of medication checker apps and online pharmacies. These platforms provide users with easy access to information about medications and allow them to purchase medicines online, saving time and effort. Additionally, the increasing prevalence of chronic diseases in the country is driving the demand for smart health monitoring devices such as smart thermometers, blood glucose meters, and blood pressure meters. These devices help individuals track their health parameters more efficiently and enable remote monitoring by healthcare providers.

Local special circumstances: Equatorial Guinea's healthcare system faces challenges such as limited access to healthcare facilities, especially in rural areas, and a shortage of healthcare professionals. In this context, digital treatment and care solutions play a crucial role in bridging the gap and improving healthcare access for the population. The government's efforts to promote digital health initiatives and improve healthcare infrastructure are further propelling the adoption of digital treatment and care services in the country.

Underlying macroeconomic factors: The growing economy and increasing disposable income levels in Equatorial Guinea are contributing to the expansion of the Digital Treatment & Care market. As more people have the financial means to invest in their health and well-being, the demand for digital treatment and care solutions is expected to rise. Additionally, the government's focus on digitization and innovation in the healthcare sector is creating a conducive environment for the growth of the digital health market 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.