Analysis by Ad Format (Social Media Ads, Native Ads, Search Engine Ads, Display Ads, Video Advertising, Other Ads); by Platform (Mobile, Desktop, and Other Platforms); and by End User [Pharmaceutical Companies {by Product (Patent Medicine, and Generic Medicine), by Category (Prescription Drugs, and OTC Drugs)}, and Medical Device Companies] – Supply & Demand Analysis & Opportunity Outlook 2022-2035
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The ASEAN & Japan digital advertising in pharma and medical equipment market is estimated to garner a revenue of USD 1,574.6 Million and USD 4,625.2 Million respectively by the end of 2035 by growing at a CAGR of 10.85% and 10.68% respectively over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 508.9 Million and USD 1,520.9 Million respectively in the year 2022. 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.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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ASEAN Market CAGR |
10.85% |
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Japan Market CAGR |
10.68% |
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ASEAN Base Year Market Size (2022) |
USD 508.9 Million |
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Japan Base Year Market Size (2022) |
USD 1,520.9 Million |
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ASEAN Forecast Year Market Size (2035) |
USD 1,574.6 Million |
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Japan Forecast Year Market Size (2035) |
USD 4,625.2 Million |
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Regional Scope |
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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
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 2035, 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.
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 2035, 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 ASEAN & Japan digital advertising in pharma and medical equipment market includes the following segments:
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By Ad Format |
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By Platform |
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By End User |
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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 2035, 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 2035, 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.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the AEAN & Japan digital advertising in pharma and medical equipment market that are included in our report are, IQVIA Inc., Dentsu, Medibrandox, Ogilvy Group, Enthof, Meson Digital Marketing Agency, Indus Net TechShu, Indegene, Mysense, and others.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The major factors driving the growth of the growth of the market are growing penetration of mobile phones, surge in social media users, growth in pharma and medical equipment company, and others.
Ans: The market is anticipated to attain a CAGR of 10.85% and 10.68% respectively over the forecast period, i.e., 2023 – 2035.
Ans: Growing competition in the digital advertising, complexity in operation, and lack of professional in order to create engaging content are estimated to be the growth hindering factors for the market expansion.
Ans: The major players in the market are IQVIA Inc., Dentsu, Medibrandox, Ogilvy Group, and more.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by ad format, platform, end user, and by region.
Ans: The mobile segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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