Digital Treatment & Care - Hong Kong

Hong Kong

The Digital Treatment & Care market in Hong Kong is projected to witness a substantial increase in revenue, reaching a staggering US$82.99m in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2028) of 4.59%, resulting in a projected market volume of US$99.32m by 2028.
The market penetration among users is anticipated to be 41.05% in 2024, and it is expected to rise to 48.24% by 2028.
The average revenue per user (ARPU) is estimated to be US$26.25.
In a global comparison, in the United States is set to generate the highest revenue, amounting to a whopping US$24,240.00m in 2024.
In Hong Kong, the trend in the digital treatment & care market is a growing reliance on telemedicine platforms for remote patient consultations and monitoring.

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 Hong Kong is experiencing significant growth and development, driven by various factors such as increasing awareness of health and wellness, technological advancements, and changing consumer preferences.

Customer preferences: In Hong Kong, customers are increasingly turning to digital treatment and care solutions due to their convenience, accessibility, and efficiency. With the fast-paced lifestyle in the city, people are looking for ways to manage their health more effectively and conveniently. The demand for digital solutions such as contraception/fertility apps, medication checker apps, online pharmacies, and smart health devices is on the rise as consumers seek more control over their healthcare.

Trends in the market: One of the key trends in the Digital Treatment & Care market in Hong Kong is the growing popularity of smart health devices such as smart thermometers, smart blood glucose meters, and smart blood pressure meters. These devices allow users to monitor their health in real-time and provide valuable data for better management of their conditions. Additionally, there is a rising trend towards the use of digital therapeutics, which are software-based interventions for the prevention and treatment of various health conditions. These digital therapeutics offer a new approach to healthcare delivery and are gaining traction among consumers in Hong Kong.

Local special circumstances: Hong Kong's unique healthcare system, which combines both public and private healthcare services, creates a favorable environment for the growth of the Digital Treatment & Care market. The city's well-developed infrastructure and high smartphone penetration rate also contribute to the increasing adoption of digital health solutions. Moreover, the growing aging population in Hong Kong is driving the demand for innovative healthcare technologies that can help in remote monitoring and management of health conditions.

Underlying macroeconomic factors: The growing middle-class population in Hong Kong, along with increasing disposable income levels, is fueling the demand for digital treatment and care solutions. Moreover, the government's initiatives to promote digital health technologies and telemedicine services are further supporting the growth of the market. With the increasing focus on preventive healthcare and wellness, the Digital Treatment & Care market in Hong Kong is poised for continued expansion in the coming years.

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.