Digital Treatment & Care - Guyana

Guyana

The Digital Treatment & Care market in Guyana is projected to reach a revenue of US$3.17m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 10.91%, resulting in a projected market volume of US$5.32m by 2029.
User penetration is anticipated to be 9.27% in 2024 and is expected to increase to 11.90% by 2029.
The average revenue per user (ARPU) is projected to be US$41.77.
In global comparison, United States is expected to generate the highest revenue with US$29,910.00m in 2024.
In Guyana, the digital treatment and care market is experiencing a surge in telehealth services to reach remote populations.

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 Guyana is experiencing significant growth and development in various sub-markets such as contraception/fertility apps, medication checker apps, online pharmacy, smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms.

Customer preferences: Customers in Guyana are increasingly turning to digital solutions for their treatment and care needs due to the convenience and accessibility offered by these technologies. The younger population, in particular, is more inclined towards using digital platforms for managing their health and wellness, including monitoring vital signs, accessing medication information, and seeking medical advice remotely.

Trends in the market: In Guyana, there is a growing trend towards the adoption of digital therapeutics and health monitoring devices. Contraception/fertility apps are gaining popularity among women looking for non-invasive methods of family planning, while medication checker apps are being used to ensure the safety and efficacy of prescribed medications. Online pharmacies are also on the rise, providing a convenient way for consumers to purchase medicines and healthcare products. Moreover, the demand for smart health devices such as thermometers, blood glucose meters, and blood pressure monitors is increasing as more individuals take control of their health through self-monitoring.

Local special circumstances: One of the key factors driving the growth of the Digital Treatment & Care market in Guyana is the limited access to traditional healthcare services in remote areas. Digital solutions offer a way to bridge this gap and provide essential healthcare services to underserved populations. Additionally, the government's efforts to promote digital health initiatives and improve healthcare infrastructure are creating a conducive environment for the expansion of the market.

Underlying macroeconomic factors: The economic development and increasing disposable income in Guyana are contributing to the growth 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 health solutions is expected to rise. Furthermore, advancements in technology and the availability of affordable smartphones are making it easier for individuals to access and utilize digital treatment and care services.

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.