Digital Treatment & Care - Baltics

The Digital Treatment & Care market in the Baltics is anticipated to witness substantial growth in the coming years.
According to projections, the market's revenue is expected to reach US$56.83m by 2024.
Furthermore, an annual growth rate (CAGR 2024-2029) of 9.26% is predicted, which would result in a market volume of US$88.49m by 2029.
In terms of user penetration, it is estimated that 17.84% of the population will be utilizing digital treatment and care services by 2024.
This figure is projected to increase to 22.93% by 2029.
The average revenue per user (ARPU) is expected to be US$54.73.
When comparing the global market, United States is anticipated to generate the highest revenue, with an estimated amount of US$29.91bn in 2024.
In the Baltics, there is a growing trend towards digital treatment and care, with innovative technologies being embraced by healthcare providers to improve patient outcomes.

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.

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

Health tracking devices
Fitness apps
Sleeping apps
Mood improvement apps
Health tracking apps
Fitness wearables
Fitness apps
Motion trackers

The Digital Treatment & Care market in Baltics is experiencing significant growth and development, driven by various factors shaping the healthcare landscape in the region.

Customer preferences: Customers in the Baltics are increasingly turning to digital solutions for their treatment and care needs. The convenience and accessibility offered by digital platforms such as contraception/fertility apps, medication checker apps, online pharmacies, smart devices like thermometers, blood glucose meters, and blood pressure meters, as well as social alarms, are attracting a growing number of users. These digital tools provide users with the ability to monitor their health, access healthcare services remotely, and manage their conditions more effectively.

Trends in the market: In the Baltics, there is a noticeable trend towards the adoption of digital therapeutics, with more people relying on digital tools to manage their health and well-being. Contraception/fertility apps are gaining popularity among young adults, offering a convenient way to track fertility cycles and manage contraception. Medication checker apps are also seeing increased usage as people seek to ensure the safety and effectiveness of their medications. Online pharmacies are becoming a preferred option for purchasing medications and healthcare products, especially among those looking for convenience and competitive pricing. Smart devices like thermometers, blood glucose meters, and blood pressure meters are being embraced for their ability to provide real-time health data and facilitate remote monitoring. Additionally, social alarms are being used to enhance the safety and security of vulnerable populations, such as the elderly or individuals with chronic conditions.

Local special circumstances: The Baltic countries, comprising Estonia, Latvia, and Lithuania, have been early adopters of digital technologies in various sectors, including healthcare. The region boasts a well-developed digital infrastructure and a tech-savvy population, making it conducive to the growth of the Digital Treatment & Care market. Additionally, the relatively small size of the Baltic markets allows for more agile and innovative approaches to healthcare delivery, driving the adoption of digital solutions.

Underlying macroeconomic factors: The Digital Treatment & Care market in the Baltics is also influenced by macroeconomic factors such as increasing healthcare expenditures, a growing focus on preventive healthcare, and a shift towards patient-centric care models. These factors are driving healthcare stakeholders, including providers, payers, and patients, to embrace digital technologies that can improve access, efficiency, and outcomes in healthcare delivery. Furthermore, government initiatives to promote digital health solutions and the presence of a vibrant startup ecosystem in the Baltics are contributing to the expansion of the Digital Treatment & Care market in the region.

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.