Digital Health - Belgium

Belgium

The Digital Health market in Belgium is expected to see a significant increase in revenue, with projections indicating that it will reach US$725.90m by 2024.
Moreover, the market is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 8.45%, leading to a projected market volume of US$1,089.00m by 2029.
The average revenue per user (ARPU) is estimated to be US$123.80.
When compared globally, United States is anticipated to generate the highest revenue in the Digital Health market, amounting to US$47,120.00m by 2024.
Additionally, the largest market within the Digital Health market industry is predicted to be Digital Treatment & Care, with a total revenue value of US$355.60m in 2024.
Belgium is experiencing a surge in the adoption of telemedicine platforms, with patients and healthcare providers embracing virtual consultations for improved accessibility and convenience in the digital health market.

Key regions: United States, China, Japan, Asia, Europe

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Analyst Opinion

The Digital Health market in Belgium is witnessing significant growth and evolution, driven by various factors shaping the industry landscape in the country.

Customer preferences: In Belgium, customers are increasingly opting for digital health solutions due to the convenience and accessibility they offer. The preference for online doctor consultations and digital treatment and care services is on the rise as individuals seek more efficient ways to manage their health and well-being.

Trends in the market: One notable trend in the Belgian Digital Health market is the growing popularity of digital fitness and well-being platforms. With the increasing focus on preventive healthcare and wellness, consumers are turning to digital solutions to monitor their fitness levels, set wellness goals, and track their progress. This trend is in line with the global shift towards proactive health management. Moreover, the demand for online doctor consultations is also seeing a surge in Belgium. Patients are looking for more flexible healthcare options that eliminate the need for physical visits to healthcare facilities, especially for minor ailments or routine check-ups. This trend is driven by the convenience and time-saving benefits offered by virtual consultations. In terms of digital treatment and care, Belgium is experiencing a proliferation of telemedicine services and remote monitoring solutions. These technologies enable healthcare providers to deliver personalized care to patients outside traditional clinical settings, improving access to healthcare services and enhancing patient outcomes. The adoption of digital treatment and care solutions is expected to continue growing as the healthcare system in Belgium embraces digital transformation.

Local special circumstances: Belgium's well-established healthcare infrastructure and high digital literacy among the population create a conducive environment for the growth of the Digital Health market. The country's strong regulatory framework ensures the quality and safety of digital health solutions, instilling trust among consumers and healthcare providers. Additionally, Belgium's aging population and increasing prevalence of chronic diseases are driving the demand for innovative healthcare solutions. Digital health technologies offer a means to address the healthcare needs of a growing elderly population and improve the management of chronic conditions, contributing to the market's expansion.

Underlying macroeconomic factors: The increasing healthcare expenditure in Belgium, coupled with government initiatives to promote digital healthcare adoption, is fueling the growth of the Digital Health market. The country's focus on leveraging technology to enhance healthcare delivery and improve patient outcomes is creating opportunities for digital health companies to innovate and expand their offerings in the market.

Methodology

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.