Digital Treatment & Care - Bosnia and Herzegovina

Bosnia and Herzegovina

The Digital Treatment & Care market in Bosnia and Herzegovina is expected to achieve a revenue of US$10.24m by the year 2024.
With an annual growth rate (CAGR 2024-2029) of 5.71%, the market is projected to reach a volume of US$13.52m by 2029.
The user penetration is estimated to be 10.87% in 2024 and is anticipated to increase to 13.25% by 2029.
The average revenue per user (ARPU) is projected to be US$29.48.
In comparison to other countries, United States is expected to generate the highest revenue with US$29,910.00m in 2024.
Bosnia and Herzegovina is experiencing a growing demand for telemedicine services, enabling access to specialized medical treatment for remote areas.

Key regions: Japan, India, United States, Canada, Italy

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Treatment & Care market in Bosnia and Herzegovina is experiencing significant growth and development.

Customer preferences: In Bosnia and Herzegovina, there is a growing preference for digital solutions in the healthcare sector, including the Digital Treatment & Care market. Consumers are increasingly turning to digital contraception/fertility apps, medication checker apps, online pharmacies, smart health devices such as thermometers, blood glucose meters, and blood pressure monitors, as well as social alarms for their healthcare needs.

Trends in the market: One notable trend in the Digital Treatment & Care market in Bosnia and Herzegovina is the increasing adoption of online pharmacies. This trend is driven by the convenience and accessibility that online pharmacies offer to consumers, especially in rural areas where access to traditional brick-and-mortar pharmacies may be limited. Additionally, the use of smart health devices such as thermometers, blood glucose meters, and blood pressure monitors is on the rise as individuals become more proactive about monitoring their health and managing chronic conditions from the comfort of their homes.

Local special circumstances: Bosnia and Herzegovina's healthcare system faces challenges such as limited access to healthcare services in remote areas and an aging population. As a result, there is a growing need for innovative solutions to bridge the gap and improve healthcare outcomes. The Digital Treatment & Care market in Bosnia and Herzegovina is well positioned to address these challenges by offering digital tools and services that can enhance access to healthcare, enable remote monitoring, and empower individuals to take control of their health.

Underlying macroeconomic factors: The growth of the Digital Treatment & Care market in Bosnia and Herzegovina is also influenced by macroeconomic factors such as increasing internet penetration, rising healthcare costs, and a shift towards preventive healthcare. As more individuals gain access to the internet and smartphones, the demand for digital health solutions is expected to continue growing. Additionally, the rising healthcare costs are driving consumers to seek more affordable and convenient ways to manage their health, further fueling the adoption of digital treatment and care options.

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.