Digital Health - Australia

Australia

The Digital Health market in Australia is expected to witness substantial growth in the coming years.
By 2024, the projected revenue is estimated to reach €2.16bn.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2028) of 4.95%, resulting in a projected market volume of €2.62bn by 2028.
The average revenue per user (ARPU) is projected to be €92.16, indicating a promising market potential for digital health services in the country.
In comparison to other countries, in China is expected to generate the highest revenue in the digital health market, amounting to €48,520.00m in 2024.
Among the various market segments, Digital Treatment & Care is predicted to dominate with a total revenue value of €0.94bn in 2024.
This segment reflects the growing importance of maintaining a healthy and active lifestyle in the digital era.
Australia's digital health market is booming, with a strong focus on telehealth services and innovative health tech startups.

Key regions: United States, China, Japan, Asia, Europe

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Analyst Opinion

The Digital Health market in Australia is experiencing significant growth and transformation, driven by various factors shaping the industry landscape.

Customer preferences: Customers in Australia are increasingly seeking convenient and accessible healthcare solutions, leading to a growing demand for digital fitness and well-being platforms, online doctor consultation services, and digital treatment and care options. The shift towards virtual healthcare services is driven by the need for flexibility, efficiency, and personalized care.

Trends in the market: In Australia, the Digital Health market is witnessing a surge in adoption of wearable devices, health tracking apps, and telemedicine platforms. Consumers are becoming more proactive in managing their health and are embracing digital tools to monitor their fitness levels, track medical conditions, and consult healthcare professionals remotely. The integration of artificial intelligence and data analytics in digital health solutions is also a notable trend, enabling personalized treatment plans and predictive healthcare insights.

Local special circumstances: Australia's geographically dispersed population and limited access to healthcare services in remote areas are driving the adoption of digital health solutions across the country. The government's initiatives to promote telehealth services and digital infrastructure development are further propelling the growth of the Digital Health market in Australia. Additionally, the increasing focus on preventive healthcare and wellness programs is shaping consumer behavior towards digital fitness and well-being offerings.

Underlying macroeconomic factors: The Digital Health market in Australia is influenced by macroeconomic factors such as technological advancements, regulatory frameworks, healthcare expenditure, and demographic trends. The country's robust digital infrastructure, high smartphone penetration rates, and tech-savvy population are facilitating the expansion of digital health services. Moreover, the government's support for digital innovation in healthcare and the rising healthcare costs are driving the adoption of cost-effective and efficient digital health solutions in Australia.

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.