Digital Treatment & Care - Northern Europe

Northern Europe

The Digital Treatment & Care market in Northern Europe is expected to achieve a revenue of US$802.50m in 2024.
This sector is anticipated to experience a steady annual growth rate (CAGR 2024-2029) of 9.99%, resulting in a projected market volume of US$1,292.00m by 2029.
By 2024, user penetration is estimated to reach 31.04% and is projected to increase to 40.61% by 2029.
The average revenue per user (ARPU) is expected to be US$76.31.
In terms of global comparison, United States is expected to generate the highest revenue in the Digital Treatment & Care market, amounting to US$29,910.00m in 2024.
In Northern Europe, Finland is leading the way in digital treatment & care, with innovative solutions and widespread adoption.

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 Northern Europe is experiencing significant growth and development, driven by various factors influencing consumer behavior and technological advancements in the healthcare industry.

Customer preferences: Consumers in Northern Europe are increasingly turning to digital solutions for their treatment and care needs, seeking convenience, accessibility, and personalized healthcare options. The growing popularity of contraception/fertility apps, medication checker apps, online pharmacies, and various smart health devices reflects the demand for more efficient and user-friendly healthcare services.

Trends in the market: In countries like Sweden and Denmark, there is a rising trend in the adoption of smart thermometers and smart blood glucose meters, as individuals become more proactive in monitoring their health conditions. The use of social alarms for the elderly population is also gaining traction in countries like Norway and Finland, where there is a growing emphasis on remote patient monitoring and telehealth solutions.

Local special circumstances: Northern Europe boasts well-developed healthcare systems with high digital literacy rates among the population, making it conducive for the adoption of digital treatment and care solutions. The region's aging population and increasing healthcare costs are driving the need for innovative and cost-effective healthcare technologies, leading to the rapid expansion of the digital therapeutics market in countries like Iceland and Finland.

Underlying macroeconomic factors: The strong economy and government support for digital healthcare initiatives in Northern Europe are fueling the growth of the market. Increased investment in healthcare technology, favorable regulatory environment, and a focus on preventive healthcare measures are creating opportunities for digital treatment and care providers to expand their presence in the region and cater to 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.