ASEAN & Japan Digital Advertising in Pharma and Medical Equipment Market TOC
ASEAN & Japan Digital Advertising in Pharma and Medical Equipment Market size is projected to cross USD 1.57 Billion and USD 4.62 Billion by the end of 2033, growing at a CAGR of 10.85% and 10.68% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of ASEAN & Japan digital advertising in pharma and medical equipment was USD 0.50 Billion and USD 1.52 Billion. The growth of the market can be attributed to growing penetration of internet in ASEAN region or Japan, further boosting the growth in social media users. Over 399 million people utilize the internet, and Southeast Asia is a thriving emerging market with a thriving digital economy. Further, more than 1 billion social media users, primarily in China, were based in Eastern Asia in 2022. In addition, about 840 million people in Southern Asia used social media. With more people using the internet, pharmaceutical and medical equipment companies would have a huge advantage in spreading their products and information through digital marketing platforms including social media ads, video commercials, mobile ads, and others.
In the pharmaceutical and medical equipment industries, digital advertising strives to persuade the intended consumer to learn more about their products, including making a purchase, and it aids in boosting website traffic and brand recognition. Further, there has also been growing use of email marketing in pharmaceutical industries. One of the key routes for establishing and expanding communication between pharmaceutical companies, patients, and HCPs is email. As a marketing tool, email enables company to send recipients well-targeted communications, emphasizing the main content of the emails, and it is a quick and easy way to get in touch with the target market. However, many marketing specialists working in the pharma domain presently confront several difficulties when it comes to a deeper understanding of the influence of email communication. Hence, the demand for various powerful email approach such as interactive email is estimated to increase.
Growth Drivers
Growing Penetration of Mobile Phones- Southeast Asia were expected to have about 320 million smartphone users by 2022, and that figure would continue to grow until 2026. Any type of advertising that appears on devices either of those as smartphones and tablet computers is referred to as mobile advertising. Companies could use SMS text ads or banner ads that are placed on mobile websites to advertise on these devices. Additionally, company could also advertise their product on social media. Hence, owing to the large number of people using smartphones, it has become easy for pharma and medical equipment company to advertise their products.
Surge in Social Media User - India has about 447 million active social media users, or around 30% of the country's total population. Approximately 98% of these (about 444 million) use their mobile phones to access social media.
Growth in Pharma and Medical Equipment Company - In an effort to lure Japanese pharmaceutical and medical device manufacturers to India, the Indian government has urged them to establish businesses in Gujarat, Telangana, Andhra Pradesh, Himachal Pradesh, and Goa. According to estimates, Japanese businesses would invest about 26 Million in this industry.
Upsurge of Users on Email - About 3 billion people use email every day. As a result, the vast majority of email marketers incorporate mobile-friendly communications into their marketing plans.
Growth in Internet User - In Japan, there were around 114 million internet users in 2021. This figure was anticipated to climb to roughly 115 million internet users by 2026.
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
ASEAN Market CAGR |
10.85% |
|
Japan Market CAGR |
10.68% |
|
ASEAN Base Year Market Size (2022) |
USD 0.50 Billion |
|
Japan Base Year Market Size (2022) |
USD 1.52 Billion |
|
ASEAN Forecast Year Market Size (2033) |
USD 1.57 Billion |
|
Japan Forecast Year Market Size (2033) |
USD 4.62 Billion |
|
Regional Scope |
|
Platform (Mobile, Desktop, Other Platforms)
The ASEAN & Japan digital advertising in pharma and medical equipment market is segmented and analyzed for demand and supply by platform into mobile, desktop, and other platforms. Out of these, the mobile segment is anticipated to hold the largest market revenue of USD 1,298.6 Million and USD 3,404.1 Million respectively by the end of 2033, up from a revenue of USD 402.7 Million and USD 1,070.7 Million in the year 2022. Further, the segment is anticipated to grow at a highest CAGR of 11.27% and 11.13% respectively. The growth of the segment can be attributed to growing penetration of mobile phones. In Japan, there were more than 100 million smartphone users in 2022. By 2027, it was anticipated to surpass about 114 million, an increase of around 27 million users from 2018. The most successful online kind of advertising is mobile advertising. Large number of people are estimate to use mobile daily and every time no matter what they are doing. Hence, pharma and medical equipment finds it more convenient to advertise on mobile phones.
Ad Format (Social Media Ads, Native Ads, Search Engine Ads, Display Ads, Video Advertising, Other Ads)
The ASEAN & Japan digital advertising in pharma and medical equipment market is also segmented and analyzed for demand and supply by ad format into social media ads, native ads, search engine ads, display ads, video advertising, mobile advertising, banner ads, and others ads. Amongst these, the search engine ads segment is estimated to generate the highest revenue of USD 467.1 Million and 1,375.1 Million respectively by the end of 2033, up from a revenue of USD 164.8 Million and 494.3 Million respectively in the year 2022. Advertising that appears on search engines including Google, Yahoo, and Bing on mobile devices, tablets, desktop computers, and linked TVs is referred to as search engine advertising. Being prominently displayed on search engine results pages increases the visibility of brands and products, and this has been proven to be a successful strategy for pharma and medical equipment firms over the past decade. However, the video advertising segment is estimated to grow at a highest CAGR 12.40% and 12.12% respectively over the forecast period. Videos are estimated to be more engaging than any other channel. Hence, more company are expected to use video advertising in order to promote their products over the forecast period.
Our in-depth analysis of the global market includes the following segments:
|
By Ad Format |
|
|
By Platform |
|
|
By End User |
|
The Indonesia digital advertising in pharma and medical equipment market, amongst the market in all the other regions, is projected to hold the largest market revenue of USD 906.3 Million by the end of 2033, up from a revenue of USD 277.0 Million in the year 2022. Further, the market in this country is estimated to grow at a highest CAGR of 11.41% over the forecast period, backed by increase in the number of internet users over time, as well as surge in number of mobile and social media users. Indonesia had over about 190 million active social media users as of February 2022, placing third in the Asia Pacific after China and India.
Additionally, the market in Philippines is estimated to generate the second highest revenue of USD 207.7 Million by the end of 2033, up from a revenue of USD 74.0 Million in the year 2022. The growth of the market in this region can be attributed to growing focus on digital transformation of businesses along with surging strategies for social media and digital advertising. Philippines is recognized as one of the top countries for internet users worldwide regarding time spent on social media. Hence this factor is also estimated to boost the growth of the market in this region.
A global solution, dentsu health, was introduced by Dentsu. Densu Health is positioned to become one of the top global healthcare agencies by leveraging the knowledge of its worldwide network of 2,000 health marketing experts in 85 markets throughout EMEA, APAC, and the Americas. Densu Health would offer the single point of contact that many of the biggest brands in pharma, payer, provider, device, and OTC currently want by aggregating and mobilizing its health marketing knowledge and market-leading capabilities.
In order to establish multichannel digital marketing campaigns across the US and increase the capabilities for the engagement of healthcare providers who are qualified to prescribe Titan's Probuphine (buprenorphine) implant 2016 for the maintenance treatment of opioid addiction in qualified patients, Titan Pharmaceuticals (San Francisco, CA) entered into a co-promotion partnership with healthcare solutions provider Indegene.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?