Digital Health - South America

South America

The Digital Health market in South America is expected to reach a revenue of €5.58bn in 2024.
It is projected to experience an annual growth rate (CAGR 2024-2029) of 8.76%, resulting in a market volume of €8.49bn by 2029.
The average revenue per user (ARPU) is estimated to be €49.84.
In comparison to other countries, United States is projected to generate the highest revenue in the Digital Health market, amounting to €43,240.00m in 2024.
The largest market within Digital Health market in South America is Digital Treatment & Care, which is anticipated to have a total revenue value of €2.88bn in 2024.
In South America, the Digital Health market is seeing a surge in telemedicine adoption due to the vast geographic distances between patients and healthcare providers.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Digital Health market in South America is experiencing significant growth and development, driven by various factors contributing to the increasing adoption of digital health solutions in the region.

Customer preferences: Customers in South America are increasingly looking for convenient and accessible healthcare options, leading to a growing preference for digital fitness and well-being solutions. The convenience of accessing fitness routines and well-being resources online appeals to individuals with busy schedules or limited access to traditional healthcare facilities.

Trends in the market: In Brazil, one of the largest markets in South America, there is a rising trend towards online doctor consultations. This trend is fueled by the vast geographical size of the country, making it challenging for individuals in remote areas to access healthcare services. Online consultations provide a practical solution to bridge this gap and offer medical advice to a broader population.

Local special circumstances: In Argentina, the digital treatment and care sub-market is witnessing notable growth. The country has a well-established healthcare system but faces challenges such as long waiting times and limited specialist availability. As a result, digital treatment and care platforms are becoming increasingly popular among Argentinians seeking quick and efficient healthcare services.

Underlying macroeconomic factors: Economic factors play a significant role in the development of the Digital Health market in South America. Countries like Chile and Colombia, with growing middle-class populations and increasing disposable incomes, are driving demand for digital health solutions. The willingness to spend on health and wellness, coupled with advancements in technology, is propelling the growth of the market in these countries. Overall, the Digital Health market in South America is evolving rapidly, with a shift towards digital solutions driven by customer preferences for convenience and accessibility. As the region continues to embrace technology in healthcare, the market is expected to expand further, offering innovative ways to deliver healthcare services to the population.

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.