Key regions: United States, China, Japan, Asia, Europe
The Digital Health market in G20 countries is experiencing significant growth and development across various sub-markets including digital fitness and well-being, online doctor consultation, and digital treatment and care.
Customer preferences: Customers in G20 countries are increasingly turning to digital health solutions due to their convenience, accessibility, and ability to provide personalized care. The ease of scheduling online doctor consultations, tracking fitness goals through digital platforms, and receiving remote treatment and care are key factors driving the adoption of digital health services.
Trends in the market: In the United States, the digital fitness and well-being market is witnessing a surge in demand as more individuals prioritize their health and wellness. Online doctor consultation services are becoming popular in countries like Germany and the United Kingdom, where patients value the ability to receive medical advice from the comfort of their homes. In China, digital treatment and care solutions are gaining traction, especially in rural areas where access to traditional healthcare services may be limited.
Local special circumstances: In Japan, a rapidly aging population is driving the need for innovative digital health solutions to cater to the healthcare needs of elderly citizens. The country's advanced technology infrastructure and high smartphone penetration make it conducive for the adoption of digital health services. In Brazil, the growing middle class is increasingly investing in digital fitness apps and wearables to monitor their health and fitness levels.
Underlying macroeconomic factors: The increasing healthcare costs in countries like Australia and Canada are prompting individuals to seek cost-effective digital health alternatives. Government initiatives and policies supporting digital health innovation in countries such as South Korea and Saudi Arabia are further propelling the growth of the market. The rising prevalence of chronic diseases in countries like India and Indonesia is creating a demand for digital treatment and care solutions to manage and monitor health conditions effectively.
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.
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