Digital Health - Georgia | Statista Market Forecast

The Digital Health market in Georgia is projected to reach a revenue of US$47.22m in 2024.
It is expected to experience an annual growth rate of 7.43% (CAGR 2024-2029), resulting in a projected market volume of US$67.57m by 2029.
The average revenue per user (ARPU) is expected to be US$41.90.
In comparison to other countries, United States is anticipated to generate the highest revenue in the Digital Health market, amounting to US$47.12bn in 2024.
However, it is worth noting that the largest market within the Digital Health market industry will be Digital Fitness & Well-Being, with a total revenue value of US$25.25m in 2024.
Georgia is experiencing a surge in telemedicine adoption, with virtual consultations becoming increasingly popular among its population.

Definition:

The Digital Health market refers to the use of technology to improve health and healthcare delivery. It includes the Digital Fitness & Well-Being, Online Doctor Consultations, and Digital Treatment & Care markets.

Structure:

The Digital Health market is divided into three markets:

Digital Fitness & Well-Being: This market includes fitness trackers, health and wellness coaching, and tools that help individuals monitor and improve their health and well-being.
Online Doctor Consultations: This market includes telemedicine and other digital tools that allow patients to consult with doctors remotely.
Digital Treatment & Care: This market includes digital tools that are used to diagnose, treat, and manage medical conditions. It includes the Connected Biosensors and Digital Care Management markets.

Additional Information:

The growth of the Digital Health market is driven by factors such as increasing smartphone penetration, improved internet connectivity, and the growing need to curb healthcare costs. The market is also supported by government initiatives to spread digitalization across the healthcare sector. Key players in the market are introducing advanced applications to enhance the user experience and integrate with other digital platforms. The COVID-19 pandemic has accelerated the adoption of digital health solutions, particularly in the Online Doctor Consultations market.

Digital fitness and well-being
Fitness trackers
Connected Biosensors
Digital care management
Online pharmacies
Online doctor consultations
Health and wellness coaching
Digital treatment and care

Smart clothing
Smart shoes
Smart eyewear

The Digital Health market in Georgia is experiencing a significant growth trajectory, driven by various factors shaping the healthcare landscape in the country.

Customer preferences: In Georgia, customers are increasingly leaning towards digital health solutions due to the convenience and accessibility they offer. With busy lifestyles and the need for immediate healthcare services, online doctor consultations and digital fitness platforms are becoming popular choices among the population. The demand for personalized digital treatment and care options is also on the rise as people seek more tailored and efficient healthcare services.

Trends in the market: One notable trend in the Georgian Digital Health market is the rapid adoption of online doctor consultation platforms. Patients are turning to virtual consultations for non-emergency medical issues, allowing them to receive medical advice without the need to visit a physical clinic. Additionally, digital fitness and well-being apps are gaining traction as more individuals prioritize their health and wellness. The convenience of accessing workout routines, nutritional guidance, and mental health resources through digital platforms is appealing to a wide range of consumers in Georgia.

Local special circumstances: Georgia's unique geographical landscape, with some remote areas having limited access to healthcare facilities, is driving the demand for digital health solutions. Online doctor consultations bridge the gap between patients and healthcare providers, especially in underserved regions where medical resources are scarce. Moreover, the tech-savvy population in urban areas is embracing digital health tools as part of their modern lifestyle, contributing to the overall growth of the market in the country.

Underlying macroeconomic factors: The increasing internet penetration rate and smartphone usage in Georgia are key macroeconomic factors fueling the expansion of the Digital Health market. As more people gain access to digital devices and the internet, the potential customer base for digital health services expands. Furthermore, government initiatives promoting the use of technology in healthcare and the growing investment in digital infrastructure are creating a conducive environment for the development of the Digital Health market in Georgia.

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.

Over 1.3 billion people will use digital health in 2024. This includes using fitness trackers and smartwatches, online doctor consultations, or any other digital treatment and care use. The utilization of digital health, particularly telemedicine, increased significantly during the COVID-19 pandemic as alternatives to physical appointments were required. Wearables such as smartwatches have been popular for some years, and still undergo steady growth. The digital health market was worth around 172 billion U.S. dollars in 2024, with a forecast for future growth.