Digital Treatment & Care - Panama

  • Panama
  • The Digital Treatment & Care market in Panama is projected to reach a revenue of US$26.94m in 2024.
  • It is expected to show an annual growth rate (CAGR 2024-2029) of 13.89%, resulting in a projected market volume of US$51.62m by 2029.
  • The user penetration rate is estimated to be 13.20% in 2024 and is expected to increase to 16.65% by 2029.
  • The average revenue per user (ARPU) is projected to be US$45.07.
  • In global comparison, United States is anticipated to generate the most revenue, amounting to US$29,910.00m in 2024.
  • Panama is experiencing a growing demand for digital treatment and care solutions to improve healthcare access and efficiency.

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

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Digital Treatment & Care market in Panama is experiencing significant growth and development, driven by various factors shaping the healthcare landscape in the country.

Customer preferences:
Panamanian consumers are increasingly turning to digital solutions for their healthcare needs, seeking convenience, accessibility, and personalized care. The rising adoption of smartphones and internet connectivity has made digital treatment and care options more attractive to tech-savvy individuals looking to manage their health proactively.

Trends in the market:
In Panama, there is a growing demand for contraception/fertility apps as more individuals seek reliable and convenient ways to track their reproductive health. Medication checker apps are also gaining popularity among the population, providing easy access to information about prescribed drugs and potential interactions. The online pharmacy sector is witnessing a surge in users, driven by the convenience of ordering medications online and having them delivered to their doorstep. Additionally, the adoption of smart health devices such as thermometers, blood glucose meters, and blood pressure monitors is on the rise as people become more health-conscious and proactive about monitoring their vital signs. Social alarms are also seeing increased uptake, especially among the elderly population and individuals with chronic conditions, providing them with a sense of security and immediate assistance when needed. In the Digital Therapeutics sub-market, Panama is witnessing a shift towards using software-based interventions to manage and treat various health conditions, offering a cost-effective and accessible alternative to traditional therapies.

Local special circumstances:
Panama's unique geographical location as a bridge between North and South America has positioned it as a strategic hub for healthcare innovation and technology adoption in the region. The country's growing middle-class population and increasing healthcare expenditure are driving the demand for digital treatment and care solutions that offer quality services at competitive prices. Moreover, Panama's focus on expanding its healthcare infrastructure and improving access to medical services is creating opportunities for digital health providers to collaborate with local stakeholders and enhance the delivery of care.

Underlying macroeconomic factors:
The favorable economic conditions in Panama, including stable GDP growth and government initiatives to promote digital innovation in healthcare, are supporting the expansion of the Digital Treatment & Care market. The country's commitment to digital transformation in the healthcare sector, coupled with regulatory support for telemedicine and e-health solutions, is creating a conducive environment for market players to invest in technology-driven healthcare services. Additionally, the increasing awareness about preventive healthcare and the benefits of early intervention are driving the adoption of digital treatment and care solutions among the Panamanian population.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)