Digital Health - BRICS

BRICS

Revenue in the Digital Health market is projected to reach US$50.23bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.20%, resulting in a projected market volume of US$74.49bn by 2029.
The average revenue per user (ARPU) is expected to amount to US$63.95.
In global comparison, most revenue will be generated in the United States (US$47,120.00m in 2024).
The market's largest market will be Digital Treatment & Care with a total revenue value of US$31.82bn in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Health market in BRICS countries is experiencing significant growth and development, driven by various factors such as increasing internet penetration, rising healthcare costs, and the growing adoption of digital technologies in the healthcare sector.

Customer preferences: Customers in BRICS countries are increasingly seeking convenient and accessible healthcare solutions, leading to a growing demand for digital health services. The convenience of accessing healthcare services from the comfort of one's home through online doctor consultations and digital treatment platforms is particularly appealing to busy urban populations in countries like Brazil and China.

Trends in the market: In Brazil, the digital fitness and well-being segment is witnessing a surge in popularity, with more people turning to fitness apps and online workout programs to stay healthy and active. Online doctor consultation services are also gaining traction in India, where long waiting times and limited access to healthcare facilities have prompted patients to seek virtual consultations for non-emergency medical issues.

Local special circumstances: In Russia, the government's push towards digitizing the healthcare system and implementing electronic health records is creating opportunities for digital health companies to offer innovative solutions for patient care and management. Additionally, the increasing prevalence of chronic diseases in South Africa is driving the adoption of digital treatment and care platforms that provide remote monitoring and personalized health management services.

Underlying macroeconomic factors: The economic growth and rising disposable incomes in BRICS countries are enabling more people to afford digital health services, thereby fueling market expansion. Moreover, government initiatives to promote digital healthcare and improve healthcare infrastructure are creating a conducive environment for the growth of the digital health market in the region.

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 market. 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.