Digital Treatment & Care - Guatemala

Guatemala

The Digital Treatment & Care market in Guatemala is projected to see a significant increase in revenue.
By 2024, the revenue is estimated to reach US$41.70m, with an expected annual growth rate (CAGR 2024-2028) of 8.43%.
This growth will lead to a projected market volume of US$57.65m by 2028.
In terms of user penetration, it is anticipated to be 15.80% in 2024 and is expected to increase to 19.30% by 2028.
This indicates a growing adoption of digital treatment and care services among the population of Guatemala.
The average revenue per user (ARPU) is projected to amount to US$13.71.
This metric provides insight into the amount of revenue generated per individual user in the market.
When compared globally, in the United States is expected to generate the highest revenue in the Digital Treatment & Care market.
In 2024, the revenue in the United States is estimated to be US$24,240.00m.
This highlights the dominance of the United States in terms of market size and revenue generation.
Digital Treatment & Care in the Digital Health market in Guatemala is experiencing rapid growth due to increased access to mobile technology and the government's push for digital healthcare solutions.

Key regions: Japan, India, United States, Canada, Italy

Definition:

The Digital Treatment & Care market includes devices and apps that help users monitor and analyze lifestyle-related aspects and improve their overall health. It includes user and revenue trends for four categories: digital care management, connected Biosensors, and online pharmacies.

Structure:

The Digital Treatment & Care market is divided into four markets:

Connected Biosensors: Biosensors that collect information on a variety of health parameters and vital signs of an individual (blood pressure, temperature, blood glucose, weight) by reading or measuring this data and transmitting it via electrical signals.

Digital Care Management: Various apps that help users monitor/detect/analyze physical health conditions. Contraception and fertility apps provide users with guidelines on self-care, family planning, and birth control, raise their awareness, and offer monitoring functions. Medication checker apps provide users with useful dosage intake guidelines, drug interaction information, and personal medication records.

Online Pharmacies: Over-the-counter medicine that can be purchased without a medical prescription through online sales channels. The market comprises analgesics, cold and cough medication, digestives and intestinal remedies, skin treatment products, and vitamins and minerals.

Digital Therapeutics (DTx): Software-based therapeutic interventions that deliver evidence-based therapeutic content to patients to prevent, manage, or treat a medical condition. DTx can be used to treat a wide range of conditions, including chronic diseases, mental health disorders, and substance use disorders.

Additional Information:

The digital care management user base includes paying and non-paying customers. The revenue figures only include revenues generated from paid apps offering premium options and from in-app purchases; revenues from app downloads and advertising are not included. The data only reflects B2C revenues; B2B and C2C revenues are not covered.

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Treatment & Care market in Guatemala is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Consumers in Guatemala are increasingly seeking convenient and accessible healthcare solutions, leading to a growing demand for digital treatment and care options. The convenience of accessing healthcare services remotely through digital platforms aligns with the preferences of modern consumers who value time-saving solutions. Additionally, the rising awareness about the importance of proactive healthcare management is driving individuals to seek out digital tools for monitoring and improving their health.

Trends in the market: In Guatemala, there is a noticeable trend towards the adoption of digital therapeutics and health monitoring devices. The increasing penetration of smartphones and internet connectivity has made it easier for individuals to access and utilize digital treatment and care solutions. Contraception/fertility apps are gaining popularity among women looking for non-invasive family planning methods, while smart thermometers and blood pressure meters are being embraced for convenient health monitoring at home. The shift towards online pharmacies is also evident, providing a convenient way for Guatemalans to purchase medications and healthcare products.

Local special circumstances: One of the key special circumstances influencing the Digital Treatment & Care market in Guatemala is the limited access to traditional healthcare services in remote areas. The digital solutions offer a way to bridge this gap and provide essential healthcare services to underserved populations. Additionally, the increasing focus on preventive healthcare measures in the country is driving the adoption of digital tools that enable individuals to monitor their health proactively.

Underlying macroeconomic factors: The economic growth and increasing disposable income levels in Guatemala are contributing to the expansion of the Digital Treatment & Care market. As more consumers have the financial means to invest in healthcare products and services, the demand for digital treatment and care solutions is expected to rise. Furthermore, the government's initiatives to promote digital health technologies and improve healthcare infrastructure are creating a conducive environment for the growth of the market in Guatemala.

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.