Research Nester published a report titled “Asia Digital Advertising in Pharma Market: Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the Asia digital advertising in pharma market in terms of market segmentation by ad format, product type, category, platform, and by country.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The Asia digital advertising in pharma market is anticipated to grow with a CAGR of 13.8% over the forecast period, i.e., 2021 – 2030. The market is segmented by platform into mobile, desktop, and other platforms, out of which, the mobile segment is anticipated to generate the largest revenue of USD 16599.8 Million by the end of 2030, up from a revenue of USD 2599.9 Million in the year 2015. Furthermore, the segment is projected to attain a revenue of USD 5078.5 Million by the end of 2021, and further grow with a CAGR of 14.1% during the forecast period.
The Asia digital advertising in pharma market is estimated to garner a revenue of USD 22264.3 Million by the end of 2030, up from a revenue of USD 3628.0 Million in the year 2015. The growing pharmaceutical industry, along with the increasing internet penetration in the region are some of the major factors anticipated to drive the market growth during the forecast period. Moreover, rising need amongst the pharmaceutical companies in the region for promoting their businesses online is also expected to generate numerous opportunities for market growth.
The Asia digital advertising in pharma market is segmented by country into Singapore, Indonesia, Thailand, Malaysia, Vietnam, Philippines, Hong Kong, Taiwan, Japan, South Korea, Rest of Southeast Asia, and the Rest of Asia, out of which, the market in Japan is anticipated to hold the second-largest revenue of USD 4942.7 Million by the end of 2030, up from a revenue of USD 878.0 Million in the year 2015.
Rising Penetration of the Internet in Asia to Drive Market Growth
In Asia & Pacific, the total number of individuals using the internet grew from 355 Million in the year 2005 to 1901 Million in the year 2019, according to the statistics by the International Telecommunication Union (ITU).
Owing to the increasing number of individuals using the internet in the region, and the surge in the adoption of smartphones, there is a growing scope for digital advertisements amongst the pharmaceutical companies to promote their services and products directly to their customers. Moreover, e-advertisement are also known to be cost-effective and more scalable as compared to other forms of advertisement. As a result, there is a growing need amongst the pharmaceutical companies in Asia to increasingly invest in digital advertising, which is projected to drive the market growth during the forecast period.
However, the increasing competition in the digital advertising market, and the evolving privacy regulations and presence of ad blockers are expected to operate as key restraint to the growth of Asia digital advertising in pharma market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Asia digital advertising in pharma market which includes company profiling of BBDO, AMICULUM Limited, WebHopers Infotech PVT. LTD., The Ogilvy Group, WebFX, Amura Marketing Technologies, Medibrandox, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Asia digital advertising in pharma market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.