Digital Health - Nigeria

  • Nigeria
  • In 2024, the revenue in the Digital Health market in Nigeria is projected to reach US$770.30m.
  • This market is expected to show an annual growth rate (CAGR 2024-2028) of 10.49%, resulting in a projected market volume of US$1,148.00m by 2028.
  • The average revenue per user (ARPU) in Nigeria is expected to amount to US$18.48.
  • In global comparison, in China is expected to generate the most revenue in the Digital Health market, with US$53,070.00m in 2024.
  • However, in Nigeria, the largest market segment will be Digital Fitness & Well-Being, with a total revenue value of US$563.60m in 2024.
  • Nigeria's digital health market is experiencing a surge in telemedicine adoption, as it helps bridge the gap between urban and rural healthcare access.

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

 
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Analyst Opinion

The Digital Health market in Nigeria is experiencing significant growth and development, driven by various factors shaping the healthcare landscape in the country.

Customer preferences:
Customers in Nigeria are increasingly turning to digital health solutions due to the convenience and accessibility they offer. The younger population, in particular, is tech-savvy and prefers the ease of using online platforms for fitness tracking, doctor consultations, and accessing treatment and care services.

Trends in the market:
In Nigeria, the digital fitness and well-being segment is witnessing a surge in popularity as more individuals prioritize their health and seek ways to stay fit from the comfort of their homes. Online doctor consultation services are also on the rise, especially in rural areas where access to healthcare facilities is limited. Additionally, the digital treatment and care sector is gaining traction as patients look for virtual options to manage chronic conditions and receive medical support.

Local special circumstances:
Nigeria's healthcare system faces challenges such as inadequate infrastructure, limited resources, and a shortage of healthcare professionals, especially in remote areas. As a result, digital health solutions are bridging the gap by providing virtual access to essential healthcare services, making it a crucial component of the country's healthcare ecosystem.

Underlying macroeconomic factors:
The growing penetration of smartphones and internet connectivity in Nigeria is a key driver of the digital health market. With the increasing adoption of mobile technology, more Nigerians have the means to access digital health platforms, contributing to the market's expansion. Moreover, the government's push towards digitizing healthcare services and improving health outcomes is creating a conducive environment for the growth of the digital health market in the country.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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