Digital Health - United Kingdom

  • United Kingdom
  • The United Kingdom is projected to witness a significant growth in revenue within the Digital Health market, reaching a staggering US$5.55bn by 2024.
  • This projection indicates an annual growth rate of 9.13% (CAGR 2024-2029), ultimately resulting in a projected market volume of US$8.59bn by 2029.
  • The average revenue per user (ARPU) is also expected to be substantial, amounting to US$135.10.
  • In comparison to other countries globally, United States is expected to generate the highest revenue, reaching an impressive US$47,120.00m by 2024.
  • Furthermore, with United Kingdom, the Digital Treatment & Care market is anticipated to emerge as the largest, boasting a total revenue value of US$3.28bn by 2024.
  • The United Kingdom is experiencing a surge in digital health startups, with a focus on telemedicine and remote patient monitoring.

Key regions: United States, China, Japan, Asia, Europe

 
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Analyst Opinion

The Digital Health market in United Kingdom is experiencing significant growth and development, driven by various factors influencing consumer behavior and healthcare practices.

Customer preferences:
Consumers in the United Kingdom are increasingly seeking convenience and accessibility in healthcare services, leading to a growing preference for digital solutions such as online doctor consultations and digital fitness platforms. The demand for remote monitoring and personalized health management tools is also on the rise as individuals prioritize proactive wellness and preventive care.

Trends in the market:
One of the notable trends in the Digital Health market in the United Kingdom is the integration of artificial intelligence and data analytics in healthcare platforms to provide personalized recommendations and predictive insights. This trend is shaping the way healthcare services are delivered, making them more efficient and tailored to individual needs. Additionally, the adoption of wearable devices and health tracking apps is becoming more prevalent, allowing users to monitor their health metrics in real-time and make informed decisions about their well-being.

Local special circumstances:
The National Health Service (NHS) plays a significant role in shaping the Digital Health market in the United Kingdom. The integration of digital health solutions within the NHS framework is driving innovation and collaboration between traditional healthcare providers and technology companies. This unique partnership is fostering the development of advanced telemedicine services and digital treatment options, expanding access to quality healthcare for a larger population.

Underlying macroeconomic factors:
The increasing healthcare expenditure and focus on improving patient outcomes are key macroeconomic factors influencing the growth of the Digital Health market in the United Kingdom. Government initiatives to promote digital health technologies and streamline healthcare delivery are creating a conducive environment for market expansion. Moreover, the growing awareness of the benefits of digital health solutions among both consumers and healthcare professionals is fueling the adoption of innovative technologies in the sector.

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
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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