Digital Health - Estonia

Estonia

The Digital Health market in Estonia is projected to reach a revenue of US$50.21m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2028) of 6.81%, resulting in a projected market volume of US$65.36m by 2028.
The average revenue per user (ARPU) is estimated to be US$63.63.
In comparison to other countries, in China is expected to generate the highest revenue in the Digital Health market, amounting to US$53,070.00m in 2024.
Among the various segments, the Digital Fitness & Well-Being market is projected to be the largest, with a total revenue value of US$28.77m in 2024.
Estonia has emerged as a leader in digital health, leveraging its advanced e-government infrastructure to provide efficient and patient-centric healthcare services.

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

Market

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Currency

Analyst Opinion

Estonia is experiencing a significant growth in the Digital Health market, encompassing digital fitness and well-being, online doctor consultation, and digital treatment and care services.

Customer preferences: Estonian consumers are increasingly turning to digital health solutions due to their convenience and accessibility. The preference for online doctor consultations has been on the rise as it offers a time-efficient alternative to traditional in-person visits. Additionally, the demand for digital fitness and well-being apps is driven by a growing health-conscious population seeking personalized and convenient ways to track and improve their health.

Trends in the market: One prominent trend in Estonia's Digital Health market is the integration of artificial intelligence and data analytics into digital health platforms. This trend is shaping the market by enabling more personalized and effective treatment plans for users. Another emerging trend is the emphasis on mental health and well-being in digital health solutions, reflecting a growing awareness and prioritization of mental wellness among consumers.

Local special circumstances: Estonia's strong digital infrastructure and tech-savvy population have created a conducive environment for the growth of the Digital Health market. The country's e-Residency program and digital government services have fostered a culture of digital innovation and acceptance, making Estonian consumers more open to adopting digital health solutions. Furthermore, the relatively high internet penetration rate in Estonia has facilitated the widespread adoption of online health services.

Underlying macroeconomic factors: The increasing healthcare costs and long wait times in traditional healthcare settings have motivated Estonian consumers to seek more efficient and cost-effective digital health alternatives. Moreover, the COVID-19 pandemic has accelerated the adoption of digital health solutions in Estonia, as restrictions and safety concerns have encouraged people to explore remote healthcare options. These macroeconomic factors are driving the growth of the Digital Health market in Estonia and shaping its future trajectory.

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.