Digital Health - Lithuania

Lithuania

The Digital Health market in Lithuania is projected to reach a revenue of €90.54m in 2024.
This market is expected to show an annual growth rate (CAGR 2024-2029) of 8.57%, resulting in a projected market volume of €136.60m by 2029.
The average revenue per user (ARPU) is expected to amount to €52.66.
In global comparison, United States is expected to generate the highest revenue in the Digital Health market, with €43,240.00m in 2024.
Among the various markets within the market, Digital Fitness & Well-Being is expected to be the largest, with a total revenue value of €49.21m in 2024.
Lithuania is emerging as a hub for digital health start-ups, leveraging its strong IT infrastructure and skilled workforce.

Key regions: United States, China, Japan, Asia, Europe

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Digital Health market in Lithuania is experiencing significant growth and development, driven by various factors shaping the healthcare landscape in the country.

Customer preferences: Consumers in Lithuania are increasingly turning to digital health solutions due to the convenience and accessibility they offer. The younger demographic, in particular, is more inclined towards using digital fitness and well-being apps to track their health goals and progress. Online doctor consultations are gaining popularity among busy professionals and individuals seeking quick medical advice without the need for physical appointments. Moreover, the digital treatment and care segment is witnessing traction as patients look for remote monitoring options and personalized healthcare services.

Trends in the market: In Lithuania, the Digital Health market is witnessing a surge in the adoption of wearable devices and health tracking apps to monitor fitness levels and overall well-being. The integration of telemedicine platforms for online consultations is becoming more prevalent, especially in rural areas where access to healthcare facilities may be limited. Additionally, there is a growing demand for digital treatment solutions that offer personalized care plans and remote monitoring for chronic conditions.

Local special circumstances: One of the key drivers of the Digital Health market in Lithuania is the government's push towards digitalization in healthcare services. Initiatives to improve healthcare infrastructure and promote e-health solutions are creating a conducive environment for the growth of digital health technologies in the country. Additionally, the increasing awareness among the population regarding the benefits of digital health tools is fueling the demand for innovative solutions in the market.

Underlying macroeconomic factors: The macroeconomic landscape in Lithuania, including factors such as rising healthcare costs, an aging population, and the need for efficient healthcare delivery, is driving the adoption of digital health solutions. The government's focus on promoting digital innovation in the healthcare sector through investments and regulatory support is further propelling the growth of the Digital Health market in the country. Overall, the favorable economic conditions and shifting consumer preferences towards digital healthcare services are contributing to the expansion of the market in Lithuania.

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.