Digital Health - Southeast Asia | Statista Market Forecast

The Digital Health market in Southeast Asia is predicted to experience substantial growth in the coming years.
According to projections, the market's revenue is expected to reach US$6.70bn by 2024.
Furthermore, it is anticipated that the market will maintain a steady annual growth rate of 9.85% from 2024 to 2029, resulting in a projected market volume of US$10.72bn by 2029.
With regards to the average revenue per user (ARPU), it is estimated to be approximately US$46.57.
In comparison to other countries worldwide, United States is expected to generate the highest revenue in the Digital Health market, amounting to US$47.12bn by 2024.
Among the various markets within the Digital Health market, Digital Treatment & Care is predicted to be the largest, with a total revenue value of US$4.09bn in 2024.
This market is expected to play a significant role in driving the overall growth of the market in Southeast Asia.
In Southeast Asia, Singapore is leading the way in digital health innovation with its robust ecosystem of startups and government support.

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 Southeast Asia is experiencing significant growth and development, driven by various factors shaping the healthcare industry in the region.

Customer preferences: Customers in Southeast Asia are increasingly turning to digital health solutions due to the convenience and accessibility they offer. The busy lifestyles of urban populations in countries like Singapore and Malaysia are driving the demand for online doctor consultations and digital fitness platforms. Moreover, the younger demographic in countries like Indonesia and the Philippines are more tech-savvy and open to adopting digital treatment and care options for their healthcare needs.

Trends in the market: In Singapore, the digital health market is seeing a surge in online doctor consultation platforms that provide quick and easy access to healthcare professionals. These platforms are gaining popularity among busy working professionals who prefer the convenience of virtual consultations. Additionally, digital fitness and well-being apps are becoming increasingly popular among health-conscious individuals looking to track their fitness goals and maintain a healthy lifestyle.

Local special circumstances: In Indonesia, the digital health market is shaped by the country's vast archipelago and the challenges it poses for accessing healthcare services. Online doctor consultation platforms are bridging the gap between patients and healthcare providers, especially in rural areas with limited medical facilities. Digital treatment and care solutions are also gaining traction in Indonesia, offering remote monitoring and management of chronic conditions for patients in remote locations.

Underlying macroeconomic factors: The growing middle-class population in Southeast Asia is driving the demand for quality healthcare services, including digital health solutions. Rising disposable incomes in countries like Thailand and Vietnam are enabling more people to afford digital fitness subscriptions and online doctor consultations. Additionally, government initiatives to promote digital healthcare and telemedicine are further fueling the growth of the digital health market in the region.

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.