Digital Treatment & Care - Bulgaria

The Digital Treatment & Care market in Bulgaria is projected to reach a revenue of US$60.27m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 11.45%, resulting in a projected market volume of US$103.60m by 2029.
The user penetration rate is anticipated to be 14.72% in 2024 and is projected to increase to 19.06% by 2029.
The average revenue per user (ARPU) is expected to be US$61.86.
In a global context, United States is expected to generate the highest revenue, amounting to US$29.91bn in 2024.
Bulgaria's Digital Treatment & Care market is rapidly expanding with innovative telemedicine platforms and AI-powered healthcare solutions.

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 Bulgaria is showing promising signs of growth and innovation.

Customer preferences: Bulgarian consumers are increasingly turning to digital solutions for managing their health and well-being. The convenience and accessibility offered by digital treatment and care apps are appealing to individuals looking to take a more proactive approach to their healthcare. Moreover, the younger demographic in Bulgaria is particularly tech-savvy and comfortable with using digital tools for monitoring their health metrics.

Trends in the market: In Bulgaria, there is a growing demand for contraception/fertility apps as more individuals seek reliable and convenient ways to track their reproductive health. Medication checker apps are also gaining popularity among Bulgarians who want to ensure the safety and accuracy of their prescribed medications. The online pharmacy sector is experiencing significant growth as consumers appreciate the ease of ordering medications online and having them delivered to their doorstep. Additionally, the adoption of smart health devices such as thermometers, blood glucose meters, and blood pressure monitors is on the rise in Bulgaria, indicating a shift towards more proactive health management. Social alarms are also becoming increasingly popular among the elderly population in Bulgaria, providing them with a sense of security and enabling them to live independently for longer.

Local special circumstances: Bulgaria's healthcare system faces challenges such as limited access to healthcare services in rural areas and an aging population. As a result, digital treatment and care solutions are filling the gap by offering remote monitoring and telemedicine services to individuals who may have difficulty accessing traditional healthcare facilities. The government in Bulgaria is also increasingly recognizing the importance of digital health technologies and is taking steps to promote their adoption and integration into the healthcare system.

Underlying macroeconomic factors: The digital health market in Bulgaria is benefiting from the country's overall economic growth and increasing investment in healthcare technology. The rising healthcare costs and the need for more efficient and cost-effective healthcare solutions are driving the adoption of digital treatment and care services in Bulgaria. Additionally, the growing penetration of smartphones and internet connectivity in the country is expanding the reach of digital health solutions to a wider population, further fueling the market growth.

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.