Digital Health - Albania | Statista Market Forecast

in Albania, a country in Southeast Europe, is also expected to witness growth in the Digital Health market.
According to projections, the revenue in this market is set to reach US$35.17m in 2024.
Furthermore, the market is anticipated to exhibit a compound annual growth rate (CAGR) of 8.43% from 2024 to 2029, resulting in a projected market volume of US$52.71m by 2029.
The average revenue per user (ARPU) is estimated to be US$69.09.
When compared on a global scale, United States is predicted to generate the highest revenue in the Digital Health market, amounting to US$47.12bn in 2024.
Additionally, the Digital Fitness & Well-Being sector will dominate the market, boasting a total revenue value of US$18.41m in 2024.
This demonstrates the significance and potential of the Digital Health market for Albania as well.
Albania is witnessing a surge in telemedicine adoption, allowing patients in remote areas to access healthcare services easily.

Definition:

The Digital Health market refers to the use of technology to improve health and healthcare delivery. It includes the Digital Fitness & Well-Being, Online Doctor Consultations, and Digital Treatment & Care markets.

Structure:

The Digital Health market is divided into three markets:

Digital Fitness & Well-Being: This market includes fitness trackers, health and wellness coaching, and tools that help individuals monitor and improve their health and well-being.
Online Doctor Consultations: This market includes telemedicine and other digital tools that allow patients to consult with doctors remotely.
Digital Treatment & Care: This market includes digital tools that are used to diagnose, treat, and manage medical conditions. It includes the Connected Biosensors and Digital Care Management markets.

Additional Information:

The growth of the Digital Health market is driven by factors such as increasing smartphone penetration, improved internet connectivity, and the growing need to curb healthcare costs. The market is also supported by government initiatives to spread digitalization across the healthcare sector. Key players in the market are introducing advanced applications to enhance the user experience and integrate with other digital platforms. The COVID-19 pandemic has accelerated the adoption of digital health solutions, particularly in the Online Doctor Consultations market.

Digital fitness and well-being
Fitness trackers
Connected Biosensors
Digital care management
Online pharmacies
Online doctor consultations
Health and wellness coaching
Digital treatment and care

Smart clothing
Smart shoes
Smart eyewear

Albania is experiencing a notable growth in the Digital Health market, with increasing adoption of digital fitness and well-being solutions, online doctor consultations, and digital treatment and care services.

Customer preferences: Albanian consumers are showing a growing interest in digital health solutions due to the convenience and accessibility they offer. With busy lifestyles and limited access to traditional healthcare services in some regions, individuals are turning to online platforms for fitness guidance, medical advice, and treatment options. The younger population, in particular, is more inclined towards utilizing digital health tools for managing their well-being.

Trends in the market: In Albania, there is a trend towards the integration of wearable technology and mobile applications for tracking fitness activities and monitoring health parameters. This trend aligns with the global movement towards preventive healthcare and personalized wellness solutions. Online doctor consultations are also becoming more popular, especially in rural areas where physical healthcare facilities are scarce. Moreover, the digital treatment and care segment is witnessing a rise in telemedicine services, allowing patients to receive medical attention remotely.

Local special circumstances: Albania's healthcare system faces challenges such as inadequate infrastructure and uneven distribution of healthcare facilities. This has created a gap in healthcare access, which digital health technologies are beginning to bridge. The government's initiatives to promote e-health solutions and telemedicine services are further driving the adoption of digital health platforms in the country.

Underlying macroeconomic factors: The increasing internet penetration rate in Albania is a key macroeconomic factor contributing to the growth of the Digital Health market. As more people gain access to the internet, the potential user base for digital health services expands. Additionally, the rising disposable income levels in the country are enabling individuals to invest in health and wellness solutions, including digital platforms. The government's focus on improving healthcare infrastructure and services is also creating a favorable environment for the development of the Digital Health market in Albania.

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.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

Over 1.3 billion people will use digital health in 2024. This includes using fitness trackers and smartwatches, online doctor consultations, or any other digital treatment and care use. The utilization of digital health, particularly telemedicine, increased significantly during the COVID-19 pandemic as alternatives to physical appointments were required. Wearables such as smartwatches have been popular for some years, and still undergo steady growth. The digital health market was worth around 172 billion U.S. dollars in 2024, with a forecast for future growth.