Digital Health - Serbia

Serbia

The Digital Health market in Serbia is expected to achieve a revenue of €134.90m by 2024.
Furthermore, it is projected to display a compound annual growth rate (CAGR 2024-2029) of 9.30%, resulting in a market volume of €210.40m by 2029.
The average revenue per user (ARPU) is estimated to reach €51.48.
In comparison to other countries, United States is anticipated to generate the highest revenue, amounting to €43,240.00m in 2024.
The Digital Treatment & Care market is set to hold the largest market share, with a total revenue value of €73.15m in 2024.
Serbia is experiencing a surge in the adoption of telemedicine and digital health platforms, revolutionizing healthcare accessibility in the country.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

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

Customer preferences: Customers in Serbia are increasingly seeking convenient and accessible healthcare solutions, leading to a growing demand for digital health services. The convenience of accessing healthcare services remotely, especially in rural areas with limited healthcare infrastructure, is a key driver for the adoption of digital health solutions in the country.

Trends in the market: In Serbia, there is a noticeable trend towards the adoption of digital fitness and well-being platforms, as individuals become more health-conscious and seek ways to monitor and improve their overall well-being. Online doctor consultations are also gaining popularity, particularly among busy urban populations looking for quick medical advice without the need for in-person visits. Moreover, the digital treatment and care segment is seeing growth as more healthcare providers offer telemedicine services to reach a wider patient base.

Local special circumstances: One of the unique aspects of the Digital Health market in Serbia is the increasing government support and initiatives to promote the adoption of digital healthcare solutions. The government's focus on improving healthcare access and quality through technology-driven interventions is creating a conducive environment for the growth of the digital health sector in the country.

Underlying macroeconomic factors: The macroeconomic landscape in Serbia, including factors such as increasing internet penetration and smartphone usage, is playing a significant role in the development of the Digital Health market. As more individuals gain access to digital devices and high-speed internet connectivity, the barriers to entry for digital health services are lowering, leading to a wider adoption of these solutions across the country. Additionally, the rising healthcare costs and the need for more efficient healthcare delivery are driving both consumers and healthcare providers towards digital health alternatives in Serbia.

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.