Digital Treatment & Care - South Korea

South Korea

The projected revenue in the Digital Treatment & Care market in South Korea is expected to reach €1.49bn in 2024.
This indicates a steady growth rate with an annual CAGR of 2.31%, resulting in a projected market volume of €1.67bn by 2029.
In terms of user penetration, it is estimated to be 32.16% in 2024 and is expected to reach 38.87% by 2029.
This demonstrates an increasing adoption of digital treatment and care services among the population in South Korea.
The average revenue per user (ARPU) is projected to be €89.70, indicating the average amount of revenue generated from each user in the market.
In a global comparison, United States is anticipated to generate the most revenue in the Digital Treatment & Care market, reaching €27,450.00m in 2024.
South Korea is at the forefront of digital treatment and care in the digital health market, with advanced technologies and widespread adoption of digital health 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.

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Comparaison de régions

Monnaie

Analyst Opinion

The Digital Treatment & Care market in South Korea is experiencing significant growth and development.

Customer preferences: South Korean consumers show a strong preference for digital healthcare solutions due to their convenience and efficiency. The tech-savvy population in the country is increasingly turning to digital platforms for managing their health and wellness needs. This shift in consumer behavior is driving the demand for a wide range of digital treatment and care solutions in the market.

Trends in the market: In South Korea, there is a notable trend towards the adoption of smart healthcare devices such as smart thermometers, smart blood glucose meters, and smart blood pressure meters. These devices offer users the ability to monitor their health parameters easily and accurately, providing valuable data for both individuals and healthcare professionals. Additionally, the rising popularity of contraception/fertility apps and medication checker apps reflects a growing awareness and interest in proactive healthcare management among the South Korean population. The increasing availability of online pharmacies and social alarm systems further contributes to the expansion of the digital treatment and care market in the country.

Local special circumstances: South Korea has a well-developed healthcare infrastructure and a high level of digital literacy among its population. The country also boasts a robust regulatory framework that supports the adoption and growth of digital healthcare solutions. These factors create a conducive environment for the digital treatment and care market to flourish in South Korea. Moreover, the strong emphasis on preventive healthcare and wellness initiatives in the country drives the demand for innovative digital health tools and services.

Underlying macroeconomic factors: The rapid technological advancements and digital transformation taking place in South Korea play a significant role in shaping the digital treatment and care market. The country's strong economy and investment in research and development further support the growth of the healthcare technology sector. Additionally, the increasing healthcare expenditure and focus on improving healthcare outcomes drive the adoption of digital treatment and care solutions in South Korea.

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.