Digital Health

The Digital Health market in Eastern Asia is expected to witness impressive growth in the coming years.
According to projections, the revenue in this market is set to soar to a staggering US$49.41bn by 2024.
Furthermore, it is anticipated that the market will continue to expand at a steady pace, with an annual growth rate of 7.34% from 2024 to 2029.
This growth trajectory is expected to result in a projected market volume of US$70.40bn by 2029.
When it comes to the average revenue per user (ARPU), the Digital Health market in Eastern Asia is predicted to reach an impressive figure of US$91.03.
In terms of global comparison, United States is projected to be the dominant player in the Digital Health market, generating a substantial revenue of US$47.12bn by 2024.
Among the various markets within Digital Health market, Digital Treatment & Care is expected to emerge as the largest market, with a total revenue value of US$33.95bn in 2024.
This market holds great potential for growth and innovation in Eastern Asia.
In Eastern Asia, the digital health market in China is experiencing significant growth due to the increasing adoption of telemedicine and mobile health applications.

Definition:

The Digital Health market refers to the use of technology to improve health and healthcare delivery. It includes the Digital Fitness & Well-Being, Online Doctor Consultations, and Digital Treatment & Care markets.

Structure:

The Digital Health market is divided into three markets:

Digital Fitness & Well-Being: This market includes fitness trackers, health and wellness coaching, and tools that help individuals monitor and improve their health and well-being.
Online Doctor Consultations: This market includes telemedicine and other digital tools that allow patients to consult with doctors remotely.
Digital Treatment & Care: This market includes digital tools that are used to diagnose, treat, and manage medical conditions. It includes the Connected Biosensors and Digital Care Management markets.

Additional Information:

The growth of the Digital Health market is driven by factors such as increasing smartphone penetration, improved internet connectivity, and the growing need to curb healthcare costs. The market is also supported by government initiatives to spread digitalization across the healthcare sector. Key players in the market are introducing advanced applications to enhance the user experience and integrate with other digital platforms. The COVID-19 pandemic has accelerated the adoption of digital health solutions, particularly in the Online Doctor Consultations market.

Digital fitness and well-being
Fitness trackers
Connected Biosensors
Digital care management
Online pharmacies
Online doctor consultations
Health and wellness coaching
Digital treatment and care

Smart clothing
Smart shoes
Smart eyewear

The Digital Health market in Eastern Asia is witnessing significant growth and evolution, driven by various factors shaping the healthcare landscape in the region.

Customer preferences: Consumers in Eastern Asia are increasingly prioritizing convenience, efficiency, and accessibility in healthcare services. This shift in preferences has led to a rising demand for digital fitness and well-being solutions, online doctor consultations, and digital treatment and care options. Patients are seeking more personalized and convenient ways to manage their health, leading to the adoption of digital health technologies.

Trends in the market: In Japan, the digital health market is seeing a surge in online doctor consultations, especially in rural areas where access to healthcare facilities may be limited. The convenience of consulting with a healthcare provider remotely is driving the adoption of telemedicine services. Additionally, digital fitness and well-being apps are gaining popularity among tech-savvy consumers looking to track and improve their overall health. In South Korea, the focus is on digital treatment and care solutions, with a growing number of patients opting for remote monitoring and management of chronic conditions. The integration of wearable devices and health tracking tools is revolutionizing the way healthcare is delivered in the country. Moreover, online platforms connecting patients with healthcare providers for virtual treatment plans are becoming more prevalent.

Local special circumstances: China, as one of the largest markets for digital health in Eastern Asia, is experiencing a rapid expansion of online doctor consultation services. The country's vast population and the increasing penetration of smartphones make it conducive for virtual healthcare solutions to thrive. Chinese consumers are embracing digital health platforms for their convenience and cost-effectiveness, especially in urban areas with high demand for healthcare services.

Underlying macroeconomic factors: The economic growth and technological advancements in Eastern Asia are playing a significant role in driving the digital health market forward. Countries like Japan, South Korea, and China are investing heavily in healthcare innovation and infrastructure, creating a conducive environment for the development of digital health solutions. Moreover, the increasing burden of chronic diseases and aging populations in the region is prompting a shift towards preventive and remote healthcare services, further fueling the growth of the digital health market in Eastern Asia.

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.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

Over 1.3 billion people will use digital health in 2024. This includes using fitness trackers and smartwatches, online doctor consultations, or any other digital treatment and care use. The utilization of digital health, particularly telemedicine, increased significantly during the COVID-19 pandemic as alternatives to physical appointments were required. Wearables such as smartwatches have been popular for some years, and still undergo steady growth. The digital health market was worth around 172 billion U.S. dollars in 2024, with a forecast for future growth.