ASEAN & Japan Digital Advertising in Pharma and Medical Equipment Market Trends

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

• Growing Competition in the Digital Advertising Market - The development of digital advertising in the market for pharmaceuticals and medical equipment is anticipated to be constrained by increased competition. A record number of companies have entered the digital market, and as a result, demand has surged and brand costs have gone up. In light of the increased competition, marketers must be more strategic and intelligent to stand out in the digital age. Hence, creating engaging content has become necessary. However, consumers have evolved noise-cancelling abilities as a result of the constant barrage of digital marketing content. Hence, this factor is estimated to hinder the market growth.
• Complexity in Operation
• Lack of Professional in Order to Create Engaging Content