Digital Health - Chile

Chile

The Digital Health market in Chile is projected to see a substantial increase in revenue, reaching €492.40m by 2024.
This growth is expected to continue at an annual growth rate of 8.16% (CAGR 2024-2029), resulting in a projected market volume of €728.90m by 2029.
The average revenue per user (ARPU) is expected to reach €41.05.
When compared to other countries, United States is predicted to generate the highest revenue in the Digital Health market, with an estimated value of €43,240.00m in 2024.
Additionally, the Digital Fitness & Well-Being market is anticipated to be the largest market in Chile, with a total revenue value of €295.90m in 2024.
Chile is experiencing a surge in telemedicine adoption, with a growing number of patients seeking remote healthcare consultations.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Digital Health market in Chile is experiencing significant growth and transformation, driven by various factors shaping consumer behavior and healthcare practices in the country.

Customer preferences: Consumers in Chile are increasingly turning to digital health solutions due to the convenience and accessibility they offer. The younger population, in particular, is more inclined towards digital fitness and well-being apps to track their health metrics and stay fit. Online doctor consultations are also gaining popularity among busy individuals who prefer the flexibility of virtual appointments. Moreover, the digital treatment and care segment is witnessing growth as patients seek remote monitoring and personalized healthcare services.

Trends in the market: In Chile, there is a growing trend towards holistic health management, leading to an increased demand for integrated digital health platforms that offer comprehensive solutions for fitness, telemedicine, and chronic disease management. The market is also seeing a rise in partnerships between digital health companies and traditional healthcare providers to deliver hybrid care models that combine in-person and virtual services. Furthermore, the adoption of wearable devices and health tracking apps is on the rise, contributing to the overall growth of the digital health market in Chile.

Local special circumstances: Chile's geography, with its long coastline and diverse landscapes, presents unique challenges for healthcare access in remote areas. Digital health solutions play a crucial role in bridging the gap by providing telemedicine services to underserved populations. Additionally, the government's initiatives to promote digital innovation in healthcare and improve telehealth infrastructure are further driving the adoption of digital health solutions across the country.

Underlying macroeconomic factors: The increasing internet penetration and smartphone usage in Chile are facilitating the widespread adoption of digital health technologies. As disposable incomes rise and the middle class expands, more Chileans are willing to invest in their health and well-being, leading to a growing market for digital health products and services. Moreover, the COVID-19 pandemic has accelerated the digital transformation of the healthcare sector, pushing both consumers and healthcare providers towards digital solutions for remote care and patient engagement.

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.