Digital Treatment & Care - Montenegro

Montenegro

The Digital Treatment & Care market in Montenegro is expected to generate a projected revenue of US$3.27m in 2024.
This market is projected to experience an annual growth rate (CAGR 2024-2029) of 10.59%, resulting in a projected market volume of US$5.41m by 2029.
The user penetration is expected to be 13.33% in 2024 and is projected to increase to 16.53% by 2029.
The average revenue per user (ARPU) is expected to reach US$39.13.
In comparison to other countries, United States is projected to generate the highest revenue in this market, amounting to US$29,910.00m in 2024.
Montenegro is experiencing a surge in telemedicine adoption, allowing patients in remote areas to access digital treatment and care.

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 Montenegro is experiencing significant growth and development, driven by various factors shaping the healthcare industry in the country.

Customer preferences: In Montenegro, there is a growing preference for digital solutions in healthcare, including Digital Treatment & Care services. Consumers are increasingly turning to technology to manage their health and wellness, seeking convenience, accessibility, and personalized care. The demand for 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 is on the rise.

Trends in the market: One prominent trend in the Montenegro market is the increasing adoption of digital therapeutics. Patients are looking for alternative ways to manage and treat various health conditions, and digital therapeutics offer a convenient and cost-effective solution. Additionally, there is a growing trend towards telemedicine and remote patient monitoring, which further drives the demand for digital treatment and care services in the country.

Local special circumstances: Montenegro's healthcare system faces challenges such as limited access to healthcare services in remote areas and an aging population. These factors are driving the adoption of digital treatment and care solutions as a way to bridge the gap in healthcare access and provide timely interventions. The government is also focusing on promoting digital health initiatives to improve overall healthcare outcomes in the country.

Underlying macroeconomic factors: The macroeconomic landscape in Montenegro, including factors such as rising healthcare costs, technological advancements, and increasing awareness about the importance of preventive healthcare, is contributing to the growth of the Digital Treatment & Care market. As the country continues to invest in healthcare infrastructure and digital health technologies, the market is expected to expand further to meet the evolving needs of consumers.

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.