Digital Treatment & Care - Taiwan

Taiwan

The Digital Treatment & Care market in Taiwan is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$57.32m in 2024.
This will be driven by an annual growth rate of 5.99%, resulting in a projected market volume of US$76.67m by 2029.
In terms of user penetration, it is estimated to be 8.86% in 2024 and is expected to increase to 11.28% by 2029.
This indicates a growing interest and adoption of digital treatment and care solutions among the population of Taiwan.
Furthermore, the average revenue per user (ARPU) is projected to be US$27.01, highlighting the potential for monetization in this market.
In global comparison, United States is expected to generate the most revenue, amounting to US$29,910.00m in 2024.
This further emphasizes the significance of the Digital Treatment & Care market in the global healthcare landscape.
Taiwan is experiencing a surge in demand for digital treatment and care solutions, as the country strives to enhance its healthcare system and improve patient outcomes.

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 Taiwan is showing significant growth and development in various sub-markets.

Customer preferences: Customers in Taiwan are increasingly turning to digital solutions for their treatment and care needs. The convenience and accessibility offered by digital platforms such as contraception/fertility apps, medication checker apps, online pharmacies, and smart health devices are appealing to tech-savvy consumers. The ease of monitoring health metrics and accessing healthcare services remotely is driving the adoption of these digital tools.

Trends in the market: In Taiwan, there is a growing trend towards using smart health devices such as smart thermometers, smart blood glucose meters, and smart blood pressure meters. These devices allow individuals to track their health data in real-time and share it with healthcare providers for better management of chronic conditions. Additionally, the demand for social alarms for the elderly population is on the rise as families seek innovative ways to ensure the safety and well-being of their loved ones.

Local special circumstances: Taiwan's rapidly aging population is a key factor driving the demand for digital treatment and care solutions. As the elderly population grows, there is an increased need for remote monitoring and healthcare services to support aging individuals. The government's focus on promoting digital health initiatives and telemedicine further propels the adoption of digital treatment and care solutions in the country.

Underlying macroeconomic factors: The strong technological infrastructure and high internet penetration rate in Taiwan create a conducive environment for the growth of the digital treatment and care market. The government's initiatives to promote digital health technologies and encourage innovation in the healthcare sector also play a significant role in shaping the market landscape. Additionally, the increasing healthcare expenditure and focus on preventive care contribute to the expansion of the digital treatment and care market in Taiwan.

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.