Asia Digital Advertising in Pharma Market Highlights Over 2015 - 2030
The Asia digital advertising in pharma market is estimated to garner a revenue of USD 22264.3 Million by the end of 2030 by growing at a CAGR of 13.8% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2015, the market in the region registered a revenue of USD 3628.0 Million. The growth of the market can be attributed to growing adoption of smartphone in the region, followed by the increasing internet penetration. Besides this, the growing development in the pharmaceutical industry in the region, and the surge in concern for the rising incidences of chronic diseases in the region, are some of the major factors anticipated to drive the market growth. According to the statistics by the International Telecommunication Union (ITU), the number of individuals using the internet in Asia & Pacific grew from 355 Million in the year 2005 to 1901 Million in the year 2019.
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Moreover, the pharmaceutical advertising industry is rapidly becoming automated which has significantly benefitted businesses. This mode of advertisement is cost-effective and provides greater scale and enhanced efficiency. Additionally, the increasing investment by pharmaceutical industries in the region, along with the rising adoption of advanced technologies, such as artificial intelligence, deep learning, big data, and machine learning among others, are some of the other factors anticipated to drive the market growth in the coming years.
Asia Digital Advertising in Pharma Market Regional Synopsis
On the basis of country, the Asia digital advertising in pharma market is segmented into Singapore, Indonesia, Thailand, Malaysia, Vietnam, Philippines, Hong Kong, Taiwan, Japan, South Korea, Rest of Southeast Asia, and the Rest of Asia. Out of these, 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. The market in the country is further expected to grow with a CAGR of 13.3% during the forecast period. One of the major factors anticipated to drive the growth of the market in the country is the growing pharmaceutical industry, and the increasing transition of companies towards digital mode of business. According to the statistics by the International Trade Administration (ITA), the total pharmaceutical market size in Japan grew from USD 95856 Thousands in the year 2016 to USD 105545 Thousands in the year 2019. Besides this, the growing penetration of the internet and the increasing adoption of digital platforms by the end-users in the nation are some of the additional factors anticipated to drive the market growth during the forecast period.
Growth Drivers and Challenges Impacting the Growth of the Asia Digital Advertising in Pharma Market
- Increasing Internet Penetration and Surge in Use of Mobile Devices
- Growing Development in the Pharma Industry
- Increasing Competition in the Digital Advertising Market
- Evolving Privacy Regulations and Presence of Ad Blockers
Asia Digital Advertising in Pharma Market Segmentation Synopsis
The Asia digital advertising in pharma market is segmented by ad format into social media ads, native ads, search engine ads, display ads, video advertising, mobile advertising, banner ads, and other ads. Out of these, the social media ads segment is anticipated to generate the largest revenue of USD 5023.9 Million by the end of 2030, up from a revenue of USD 746.3 Million in the year 2015. By product type, the market is segmented into patent medicine, and generic medicine. Out of these, the patent medicine segment is expected to grow with the highest CAGR of 14.0% during the forecast period. By category, the market is segmented into prescription drugs, and OTC drugs. Out of these, the prescription drugs segment is anticipated to hold the highest market share throughout the forecast period. The market is further segmented by platform into mobile, desktop, and other platforms. Out of these, 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. The segment is further anticipated to grow with the highest CAGR of 14.1% during the forecast period and also attain a revenue of USD 5078.5 Million by the end of 2021.
Top Featured Companies Dominating the Market
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 Asia digital advertising in pharma market that are included in our report are BBDO, AMICULUM Limited, WebHopers Infotech PVT. LTD., The Ogilvy Group, WebFX, Amura Marketing Technologies, Medibrandox, and others.
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