ASEAN & Japan Digital Advertising in Pharma and Medical Equipment Industry - Regional Synopsis
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.
