Digital Fitness & Well-Being - Asia

Asia

Revenue in the Digital Fitness & Well-Being market is projected to reach US$21.48bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.34%, resulting in a projected market volume of US$32.06bn by 2029.
User penetration will be 18.12% in 2024 and is expected to hit 22.75% by 2029.
The average revenue per user (ARPU) is expected to amount to US$26.09.
In global comparison, most revenue will be generated in the United States (US$14,820.00m in 2024).

Key regions: Germany, China, Italy, South Korea, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Fitness & Well-Being market in Asia has been experiencing significant growth and evolution in recent years.

Customer preferences: Customers in Asia are increasingly turning to digital fitness and well-being solutions due to the convenience and flexibility they offer. The ability to access online doctor consultations and digital treatment and care services from the comfort of their homes is particularly appealing to busy urban populations in countries like China and India.

Trends in the market: In China, the digital fitness market is booming with the rise of fitness apps that offer personalized workout plans and virtual coaching. Online doctor consultation services are also gaining popularity in countries like Japan, where the aging population is driving demand for remote healthcare solutions. Additionally, digital treatment and care platforms are seeing rapid adoption in South Korea, known for its advanced healthcare technology and high internet penetration rates.

Local special circumstances: In India, the digital fitness market is witnessing a surge in demand from young, tech-savvy consumers who are increasingly health-conscious. The online doctor consultation sector in Southeast Asia is benefiting from government initiatives to improve healthcare access in remote areas. Moreover, the digital treatment and care market in Singapore is thriving due to the country's reputation for healthcare excellence and strong regulatory framework.

Underlying macroeconomic factors: The growth of the Digital Fitness & Well-Being market in Asia can be attributed to various macroeconomic factors such as increasing smartphone penetration, rising healthcare costs, and changing consumer lifestyles. As disposable incomes rise across the region, more people are willing to invest in digital solutions for their fitness and healthcare needs. Additionally, government support for telehealth initiatives and digital infrastructure development is driving the expansion of the market in many Asian countries.

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.