Digital Treatment & Care - Finland

Finland

The Digital Treatment & Care market in Finland is projected to reach a revenue of US$121.80m in 2024.
This market is expected to experience an annual growth rate (CAGR 2024-2029) of 8.38%, resulting in a projected market volume of US$182.10m by 2029.
In terms of user penetration, it is anticipated to be 23.92% in 2024 and is expected to increase to 27.99% by 2029.
The average revenue per user (ARPU) is estimated to be US$91.78.
It is worth noting that, in a global comparison, United States is expected to generate the highest revenue, amounting to US$29,910.00m in 2024.
Finland's digital treatment and care market is thriving, with innovative solutions and a strong focus on patient empowerment.

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 Finland is experiencing significant growth and innovation, driven by various factors shaping the healthcare landscape in the country.

Customer preferences: In Finland, there is a growing preference for digital solutions in healthcare, including the use of contraception/fertility apps, medication checker apps, online pharmacies, smart devices such as thermometers, blood glucose meters, and blood pressure meters, as well as social alarms. Finnish consumers are increasingly tech-savvy and value the convenience, accessibility, and efficiency that digital health tools provide. The demand for remote monitoring and self-management of health conditions is also driving the adoption of digital therapeutics in the market.

Trends in the market: One notable trend in the Finnish market is the increasing popularity of online pharmacies, offering a wide range of healthcare products and services delivered directly to consumers' doorsteps. This trend is particularly appealing to the Finnish population, especially in remote areas where access to traditional brick-and-mortar pharmacies may be limited. Additionally, the use of smart health devices for monitoring vital signs and managing chronic conditions is on the rise, contributing to the overall growth of the Digital Treatment & Care market in Finland.

Local special circumstances: Finland has a well-developed healthcare system with a strong emphasis on digitalization and innovation. The country is known for its high-quality healthcare services and advanced technological infrastructure, which create a conducive environment for the adoption of digital treatment and care solutions. Furthermore, the Finnish population is highly educated and tech-friendly, making them early adopters of digital health technologies. The government's support for digital health initiatives and regulations promoting the use of eHealth solutions also play a crucial role in shaping the market dynamics in Finland.

Underlying macroeconomic factors: The Digital Treatment & Care market in Finland is also influenced by macroeconomic factors such as the overall economic stability, healthcare spending, and regulatory environment. Finland's strong economy and high per capita income levels enable consumers to invest in digital health tools and services. Moreover, the government's focus on promoting eHealth solutions as part of its healthcare reform efforts contributes to the growth of the market. The presence of established healthcare companies and startups specializing in digital therapeutics further fuels innovation and competition in the market.

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.