Connected Biosensors - Croatia

Croatia

Highlights

The market Connected Biosensors in Croatia is projected to generate a revenue of US$9.58m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 4.06%, reaching a market volume of US$11.69m by 2029.
The user penetration is anticipated to be 2.17% in 2024 and is projected to increase to 2.30% by 2029.
The average revenue per user (ARPU) is expected to be US$110.50.
In comparison to other countries, China is expected to generate the highest revenue of US$4.49bn in 2024.
Croatia is seeing a rise in the adoption of connected biometric sensors in the digital health market, revolutionizing healthcare delivery and patient monitoring.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Connected Biosensors market in Croatia is experiencing significant growth and development.

Customer preferences: Customers in Croatia are increasingly opting for connected biosensors due to the convenience and efficiency they offer in monitoring health parameters. The demand for smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms is on the rise as individuals seek more personalized and real-time health data. These connected devices provide users with the ability to track their health metrics easily and accurately, leading to a growing preference for such advanced technology.

Trends in the market: In Croatia, there is a notable trend towards the adoption of connected biosensors among the tech-savvy population. The market is witnessing a shift towards more integrated and interconnected healthcare solutions, driving the demand for smart devices that can seamlessly communicate health data to users and healthcare providers. This trend is further fueled by the increasing awareness of preventive healthcare measures and the desire for proactive health management among the population.

Local special circumstances: Croatia's healthcare system is undergoing digital transformation, with a focus on enhancing the efficiency and effectiveness of healthcare services. The government is encouraging the use of digital health solutions, including connected biosensors, to improve healthcare outcomes and reduce healthcare costs. This favorable regulatory environment and support for digital health initiatives are creating a conducive market landscape for the growth of connected biosensors in the country.

Underlying macroeconomic factors: The growing economy in Croatia is contributing to the increasing affordability of connected biosensors for the population. As disposable incomes rise and healthcare becomes a priority for individuals, the willingness to invest in health monitoring devices is also increasing. Moreover, advancements in technology and the availability of innovative healthcare solutions are driving the expansion of the connected biosensors market in Croatia.

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.