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Digital Treatment & Care - Albania

Albania
  • The Digital Treatment & Care market in Albania is projected to reach a revenue of US$15.05m in 2024.
  • It is expected to show an annual growth rate (CAGR 2024-2029) of 9.81%, resulting in a projected market volume of US$24.02m by 2029.
  • The user penetration is expected to be 12.17% in 2024 and is projected to increase to 14.83% by 2029.
  • The average revenue per user (ARPU) is expected to amount to US$43.74.
  • In global comparison, United States is expected to generate the highest revenue, reaching US$29.91bn in 2024.
  • Digital treatment and care in Albania is rapidly expanding, with a strong focus on telemedicine and remote patient monitoring to improve access to healthcare services in rural areas.

Definition:

The Digital Treatment & Care market includes devices and apps that help users monitor and analyze lifestyle-related aspects and improve their overall health. It includes user and revenue trends for four categories: digital care management, connected Biosensors, and online pharmacies.

Structure:

The Digital Treatment & Care market is divided into four markets:
  • Connected Biosensors: Biosensors that collect information on a variety of health parameters and vital signs of an individual (blood pressure, temperature, blood glucose, weight) by reading or measuring this data and transmitting it via electrical signals.
  • Digital Care Management: Various apps that help users monitor/detect/analyze physical health conditions. Contraception and fertility apps provide users with guidelines on self-care, family planning, and birth control, raise their awareness, and offer monitoring functions. Medication checker apps provide users with useful dosage intake guidelines, drug interaction information, and personal medication records.
  • Online Pharmacies: Over-the-counter medicine that can be purchased without a medical prescription through online sales channels. The market comprises analgesics, cold and cough medication, digestives and intestinal remedies, skin treatment products, and vitamins and minerals.
  • Digital Therapeutics (DTx): Software-based therapeutic interventions that deliver evidence-based therapeutic content to patients to prevent, manage, or treat a medical condition. DTx can be used to treat a wide range of conditions, including chronic diseases, mental health disorders, and substance use disorders.
  • Additional Information:

    The digital care management user base includes paying and non-paying customers. The revenue figures only include revenues generated from paid apps offering premium options and from in-app purchases; revenues from app downloads and advertising are not included. The data only reflects B2C revenues; B2B and C2C revenues are not covered.

    In-Scope

    • Contraception and fertility apps
    • Medication checker apps
    • Smart blood pressure meters
    • Smart thermometers
    • Smart glucose meters
    • Natural and synthetic agents
    • Analgesics (e.g., aspirin, paracetamol)
    • Cough and cold remedies (e.g., Vicks VapoRub)
    • Vitamins and minerals
    • Skin treatment products
    • Care phones/social alarms

    Out-Of-Scope

    • Health tracking devices
    • Fitness apps
    • Sleeping apps
    • Mood improvement apps
    • Health tracking apps
    • Fitness wearables
    • Fitness apps
    • Motion trackers
    Digital Treatment & Care: market data & analysis - Cover

    Market Insights report

    Digital Treatment & Care: market data & analysis

    Study Details

      Revenue

      Notes: Data was converted from local currencies using average exchange rates of the respective year.

      Most recent update: Jun 2024

      Source: Statista Market Insights

      Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

      Most recent update: Jul 2024

      Most recent update: Jun 2024

      Source: Statista Market Insights

      Analyst Opinion

      The Digital Treatment & Care market in Albania is experiencing a notable growth trajectory, driven by changing consumer preferences and advancements in technology.

      Customer preferences:
      Albanian consumers are increasingly turning to digital solutions in the healthcare sector, seeking convenience, accessibility, and personalized care. The demand for contraception/fertility apps, medication checker apps, online pharmacies, and other digital healthcare tools is on the rise as individuals prioritize self-care and proactive health management.

      Trends in the market:
      In Albania, there is a growing trend towards the adoption of smart health devices such as smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms. These devices offer users the ability to monitor their health parameters in real-time, track trends, and share data with healthcare providers for better management of chronic conditions. The convenience and efficiency provided by these digital tools are driving their popularity among Albanian consumers.

      Local special circumstances:
      Albania's healthcare system faces challenges such as limited access to healthcare services in remote areas and long waiting times for appointments. As a result, digital treatment and care solutions are filling the gap by providing virtual consultations, medication delivery services, and remote monitoring options. The convenience and accessibility of these digital solutions are particularly beneficial for individuals living in rural areas or those with limited mobility.

      Underlying macroeconomic factors:
      The increasing penetration of smartphones and internet connectivity in Albania is a key driver for the growth of the Digital Treatment & Care market. As more Albanians gain access to mobile devices and high-speed internet, the adoption of digital health tools becomes more feasible and widespread. Additionally, the government's initiatives to promote e-health services and digital innovation in healthcare are creating a supportive environment for the development of the digital treatment and care sector in Albania.

      Users

      Most recent update: Jun 2024

      Source: Statista Market Insights

      Key Players

      Notes: The shares above do not add up to 100%. Only top brands are shown.

      Most recent update: Mar 2024

      Source: Statista Market Insights

      Global Comparison

      Most recent update: Jun 2024

      Source: Statista Market Insights

      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.

      Digital

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      Digital Treatment & Care: market data & analysis - BackgroundDigital Treatment & Care: market data & analysis - Cover

      Key Market Indicators

      Notes: Based on data from IMF, World Bank, UN and Eurostat

      Most recent update: Sep 2024

      Source: Statista Market Insights

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