Online Doctor Consultations - Baltics

Baltics

Highlights

The Online Doctor Consultations market in the Baltics is projected to reach a revenue of US$15.88m in 2024.
With an expected annual growth rate (CAGR 2024-2029) of 5.00%, the market volume is projected to reach US$20.27m by 2029.
In terms of user penetration, it is estimated to be 2.32% in 2024 and is expected to increase to 0.00% by 2029.
The average revenue per user (ARPU) is projected to be US$247.70.
When compared globally, United States is forecasted to generate the highest revenue in the Online Doctor Consultations market, amounting to US$2.39bn in 2024.
In the Baltic countries, online doctor consultations have gained popularity due to their convenience and cost-effectiveness, providing accessible healthcare for all.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Doctor Consultations market in Baltics is experiencing a surge in growth, driven by various factors influencing the digital health sector in the region.

Customer preferences: Customers in Baltics are increasingly turning to online doctor consultations for convenience, accessibility, and time-saving benefits. The preference for digital fitness and well-being solutions has been on the rise, especially among tech-savvy populations in countries like Estonia, Latvia, and Lithuania.

Trends in the market: In Baltics, there is a noticeable trend towards the adoption of digital treatment and care platforms, where patients can receive personalized healthcare services remotely. This trend is fueled by the growing acceptance of telemedicine and the need for efficient healthcare delivery systems in the region.

Local special circumstances: The unique demographic composition and geographic distribution of Baltics play a significant role in shaping the Online Doctor Consultations market. With a relatively small population spread across multiple countries, the demand for online healthcare services is driven by the need to overcome barriers related to access and availability of traditional healthcare facilities.

Underlying macroeconomic factors: The increasing penetration of internet and smartphone usage in Baltics is a key macroeconomic factor driving the growth of the Online Doctor Consultations market. As more people gain access to digital technologies, the demand for online health services is expected to continue rising. Additionally, government initiatives promoting digital healthcare solutions and the presence of a tech-friendly environment in the region further support the expansion of the market.

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.