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In uract wring to South Korea a Therapy-based mental health app, you first need to roughly estimate your market demand there. Your market research (country
In uract wring to South Korea a Therapy-based mental health app, you first need to roughly estimate your market demand there. Your market research (country reports) yields the following statistics:
- Therapy mental health app users in China: 30M
- Therapy mental health app market share in China 7%
- Total adult population in Korea: 45M
- Smartphone ownership in Korea: 94%
- At least "somewhat interested" in mental health products in Korea: 30%
- Currently using any mindfulness or meditation apps in Korea: 4M
According to the Chain Ratio method, market demand estimate for South Korea could be:
45M 94% 30% = 12.7
45M
OAM
60M 7% = 4.2M
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