Digital Health - Spain

Spain

The Digital Health market in Spain is set to experience significant growth in the coming years.
According to projections, the revenue in this sector is expected to reach €2.17bn by 2024.
Furthermore, the market is anticipated to display a promising annual growth rate (CAGR 2024-2028) of 7.80%, resulting in a projected market volume of €2.93bn by 2028.
When considering the average revenue per user (ARPU), it is estimated to be €66.89.
This figure highlights the potential profitability of the Digital Health market in Spain.
In a global context, in China is predicted to generate the highest revenue in the Digital Health market, with an expected value of €48,520.00m by 2024.
This demonstrates the immense scale of the market in China.
Among the various market segments within the Digital Health market, Digital Fitness & Well-Being is poised to be the largest.
It is projected to have a total revenue value of €1.12bn by 2024.
This market segment's dominance underscores the significance placed on health and wellness in the digital realm.
Spain is witnessing a growing demand for digital health solutions, with an increasing number of healthcare providers adopting telemedicine and remote monitoring technologies.

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

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Analyst Opinion

The Digital Health market in Spain has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Spain are increasingly seeking convenient and accessible healthcare solutions, leading to a rise in demand for digital fitness and well-being services, online doctor consultations, and digital treatment and care. The convenience of accessing healthcare services from the comfort of their homes or on-the-go is particularly appealing to tech-savvy consumers in Spain.

Trends in the market: One noticeable trend in the Spanish Digital Health market is the growing popularity of digital fitness and well-being apps and platforms. With an increasing focus on personal health and wellness, many individuals are turning to digital solutions to track their fitness goals, monitor their health metrics, and access virtual workout classes. This trend is further fueled by the rising awareness of the importance of preventive healthcare. Another emerging trend is the adoption of online doctor consultation services. Patients in Spain are increasingly opting for virtual consultations with healthcare professionals for non-emergency medical issues, saving time and avoiding the hassle of traditional in-person visits. This trend is expected to continue as telemedicine becomes more widely accepted and integrated into the healthcare system. In the digital treatment and care segment, there is a growing interest in remote patient monitoring and digital therapeutics. Patients with chronic conditions are benefiting from digital tools that help them manage their health more effectively and stay connected with their healthcare providers. The convenience and effectiveness of these digital solutions are driving their adoption among both patients and healthcare providers in Spain.

Local special circumstances: Spain's healthcare system has been facing challenges such as an aging population, increasing healthcare costs, and unequal access to healthcare services across different regions. The adoption of digital health technologies presents an opportunity to address some of these challenges by improving healthcare access, efficiency, and quality. The Spanish government has also been supportive of digital health initiatives, further driving the growth of the market.

Underlying macroeconomic factors: The growing digital health market in Spain is also influenced by macroeconomic factors such as technological advancements, changing consumer behavior, and healthcare reforms. The increasing penetration of smartphones and internet connectivity, along with the rise of digital natives, is creating a favorable environment for the expansion of digital health services. Moreover, the shift towards value-based care and the emphasis on patient-centric healthcare models are driving the adoption of digital solutions in Spain's healthcare sector.

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.