Digital Treatment & Care - Nigeria

Nigeria

The Digital Treatment & Care market in Nigeria is projected to reach a revenue of US$265.30m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 9.12%, leading to a projected market volume of US$410.50m by 2029.
The user penetration is expected to be 7.47% in 2024 and is projected to increase to 9.31% by 2029.
The average revenue per user (ARPU) is anticipated to be US$15.50.
In comparison to other countries, United States is expected to generate the most revenue in the Digital Treatment & Care market, amounting to US$29,910.00m in 2024.
Nigeria is experiencing a surge in mobile health apps, enabling remote access to medical consultations and personalized treatment plans.

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 Nigeria is experiencing significant growth and development, driven by various factors shaping the healthcare landscape in the country.

Customer preferences: Consumers in Nigeria are increasingly turning to digital solutions for their healthcare needs, including the use of contraception/fertility apps, medication checker apps, online pharmacies, smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms. This shift is driven by the convenience, accessibility, and affordability of digital healthcare services, catering to the tech-savvy population in the country.

Trends in the market: One notable trend in the Nigerian market is the rising adoption of online pharmacies, allowing consumers to purchase medications and healthcare products with ease and have them delivered to their doorstep. This trend is particularly appealing to urban dwellers facing challenges such as traffic congestion and limited access to physical pharmacies. Additionally, the increasing prevalence of chronic diseases like diabetes and hypertension is driving the demand for smart health devices such as blood glucose meters and blood pressure monitors, enabling individuals to monitor their health in real-time.

Local special circumstances: Nigeria's healthcare system faces challenges such as inadequate infrastructure, limited healthcare access in rural areas, and a shortage of healthcare professionals. As a result, digital treatment and care solutions play a crucial role in bridging these gaps by providing remote consultations, medication management tools, and health monitoring devices. The youthful population in Nigeria, with a high percentage of tech-savvy individuals, further contributes to the rapid adoption of digital health solutions in the country.

Underlying macroeconomic factors: The growing middle class in Nigeria, coupled with increasing smartphone penetration and internet connectivity, is fueling the demand for digital healthcare services. Moreover, the government's efforts to promote digital innovation in the healthcare sector through initiatives and policies are creating a conducive environment for the expansion of the Digital Treatment & Care market in the country. Overall, the market is poised for continued growth as more players enter the space and technological advancements drive further innovation in healthcare delivery.

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.