Digital Health - Slovakia | Statista Market Forecast

The projected revenue in the Digital Health market in Slovakia is expected to reach US$157.00m in 2024.
This market is expected to show an annual growth rate (CAGR 2024-2029) of 7.82%, resulting in a projected market volume of US$228.80m by 2029.
The average revenue per user (ARPU) is expected to amount to US$61.96.
In global comparison, United States is projected to generate the most revenue in the Digital Health market, with US$47.12bn in 2024.
However, in Slovakia, the largest market within the Digital Health market will be Digital Fitness & Well-Being, with a total revenue value of US$86.93m in 2024.
Slovakia is experiencing a surge in the adoption of telemedicine services, revolutionizing healthcare accessibility in the country.

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 Slovakia is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Consumers in Slovakia are increasingly seeking convenient and accessible healthcare solutions, leading to a growing demand for digital health services. The convenience of accessing fitness and well-being resources, consulting with doctors online, and receiving digital treatment and care aligns with the preferences of modern consumers who value flexibility and efficiency in their healthcare experiences.

Trends in the market: In Slovakia, the Digital Health market is witnessing a surge in the adoption of digital fitness and well-being platforms as more individuals prioritize their health and wellness. Online doctor consultations are becoming more popular, especially in rural areas where access to healthcare facilities may be limited. Moreover, the digital treatment and care segment is evolving with the integration of innovative technologies such as telemedicine and remote monitoring, offering personalized and efficient healthcare services to patients.

Local special circumstances: Slovakia's healthcare system faces challenges such as long wait times for appointments and limited access to specialized medical services in certain regions. The digital health market in Slovakia is addressing these issues by providing alternative solutions that bridge the gap between healthcare providers and patients. The emphasis on preventive care and proactive health management is also driving the adoption of digital health services among the population.

Underlying macroeconomic factors: The growing digital health market in Slovakia is supported by favorable macroeconomic conditions, including increasing internet penetration, smartphone usage, and tech-savvy population. Government initiatives to promote digital healthcare solutions and improve healthcare infrastructure further contribute to the expansion of the market. Additionally, the COVID-19 pandemic has accelerated the adoption of digital health technologies, prompting both healthcare providers and consumers to embrace telehealth and digital solutions for healthcare delivery.

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.