Digital Treatment & Care - Puerto Rico

Puerto Rico

In 2024, the Digital Treatment & Care market in Puerto Rico is expected to reach a projected revenue of US$4.81m.
This market is anticipated to show a compound annual growth rate (CAGR 2024-2029) of 5.07%, resulting in a projected market volume of US$6.16m by 2029.
The user penetration rate is projected to be 5.62% in 2024 and is expected to increase to 6.60% by 2029.
Furthermore, the average revenue per user (ARPU) is expected to amount to US$26.17.
In comparison to other countries, United States is expected to generate the highest revenue in the Digital Treatment & Care market, with US$29,910.00m in 2024.
In Puerto Rico, the digital treatment and care market is rapidly growing, with a focus on telemedicine and remote patient monitoring.

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 Puerto Rico is experiencing significant growth and development across various sub-markets.

Customer preferences: Customers in Puerto Rico are increasingly turning to digital solutions in the healthcare sector due to the convenience and accessibility they offer. With the rise of smartphone usage and internet penetration in the region, there is a growing demand for digital treatment and care options that can provide quick and easy access to healthcare services.

Trends in the market: In Puerto Rico, there is a noticeable trend towards the adoption of digital therapeutics and online pharmacy services. The use of contraception/fertility apps is on the rise as more individuals seek convenient ways to track their reproductive health. Additionally, the demand for smart health devices such as smart thermometers, blood glucose meters, and blood pressure meters is increasing as people become more proactive about monitoring their health from home.

Local special circumstances: Puerto Rico faces unique challenges in its healthcare system, including limited access to healthcare services in certain areas and a shortage of healthcare professionals. As a result, digital treatment and care solutions are becoming increasingly important in bridging the gap and providing access to essential healthcare services for the population. The convenience of accessing healthcare services remotely through digital platforms is particularly appealing to residents in Puerto Rico.

Underlying macroeconomic factors: The economic landscape in Puerto Rico plays a significant role in the development of the Digital Treatment & Care market. The impact of natural disasters, such as hurricanes, has highlighted the importance of having resilient healthcare systems that can withstand disruptions. As the region continues to recover and rebuild, there is a growing emphasis on leveraging technology to improve healthcare delivery and outcomes. Additionally, government initiatives to promote digital health solutions are further driving the growth of the market in Puerto Rico.

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.