Digital Treatment & Care - Slovakia

In 2024, the projected revenue in the Digital Treatment & Care market in Slovakia is expected to reach US$60.29m.
It is projected to show an annual growth rate (CAGR 2024-2029) of 9.20%, resulting in a projected market volume of US$93.62m by 2029.
The user penetration rate is expected to be 15.35% in 2024 and is projected to increase to 19.56% by 2029.
The average revenue per user (ARPU) is expected to be US$68.90.
In comparison to other countries worldwide, United States is projected to generate the highest revenue in the Digital Treatment & Care market, amounting to US$29.91bn in 2024.
Slovakia is experiencing a rise in digital treatment and care services, with an increasing number of healthcare providers adopting telemedicine solutions to improve patient access and convenience.

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 Slovakia is witnessing significant growth and development across various sub-markets.

Customer preferences: Customers in Slovakia are increasingly turning to digital solutions in the healthcare sector due to the convenience and accessibility they offer. The younger population, in particular, is more tech-savvy and inclined towards using digital treatment and care services. Additionally, the rising awareness about the importance of health and wellness is driving individuals to seek out digital tools for monitoring and managing their health conditions.

Trends in the market: In Slovakia, there is a growing trend towards the adoption of smart healthcare devices such as smart thermometers, smart blood glucose meters, and smart blood pressure meters. These devices allow individuals to monitor their health parameters in real-time and provide valuable data for both patients and healthcare providers. The use of medication checker apps is also on the rise as people become more conscious about drug interactions and side effects. Moreover, the increasing popularity of contraception/fertility apps is indicative of a shifting attitude towards family planning and reproductive health in the country. Online pharmacies are gaining traction as they offer a convenient way to purchase medications and healthcare products from the comfort of one's home. Social alarms are also becoming more prevalent, especially among the elderly population, as a means of ensuring safety and prompt medical assistance in case of emergencies.

Local special circumstances: Slovakia's healthcare system is undergoing digital transformation, with the government implementing initiatives to promote the use of eHealth solutions. This has created a conducive environment for the growth of the Digital Treatment & Care market in the country. Additionally, the presence of a well-educated population with high digital literacy rates further fuels the adoption of digital health technologies in Slovakia.

Underlying macroeconomic factors: The increasing healthcare expenditure in Slovakia, coupled with the demand for more efficient and cost-effective healthcare services, is driving the growth of the Digital Treatment & Care market in the country. Furthermore, the aging population and the prevalence of chronic diseases are creating a need for innovative solutions that can help in better disease management and healthcare delivery. The favorable regulatory environment and the support of key stakeholders in the healthcare industry are also contributing to the expansion of the digital health market in Slovakia.

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.