Digital Health - Greece

Greece

The Digital Health market in Greece is projected to reach a revenue of US$463.70m in 2024.
It is expected to have an annual growth rate (CAGR 2024-2028) of 4.84%, resulting in a projected market volume of US$560.10m by 2028.
The average revenue per user (ARPU) is expected to be US$63.86.
When compared globally, in China is expected to generate the highest revenue in the Digital Health market, with US$53,070.00m in 2024.
Among the various segments, the largest market in Greece will be Digital Treatment & Care, with a total revenue value of US$250.60m in 2024.
Greece is experiencing a surge in telemedicine adoption as a result of the COVID-19 pandemic, allowing remote access to healthcare services.

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

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Analyst Opinion

Amidst the increasing digitalization of the healthcare industry, Greece is witnessing significant growth in its Digital Health market, encompassing digital fitness and well-being, online doctor consultation, and digital treatment and care services.

Customer preferences: Customers in Greece are increasingly turning to digital health solutions due to their convenience and accessibility. The younger population, in particular, is driving the demand for digital fitness and well-being apps to monitor their health metrics and track their fitness goals. Online doctor consultation services are gaining popularity among busy professionals and individuals living in remote areas, seeking quick medical advice without the need for physical visits. Moreover, the digital treatment and care segment is seeing traction among patients managing chronic conditions who require continuous monitoring and personalized care plans.

Trends in the market: In Greece, the Digital Health market is experiencing a surge in telemedicine platforms offering online consultations with healthcare providers. This trend is fueled by the need for efficient healthcare services, especially in rural areas with limited access to medical facilities. Additionally, there is a growing adoption of wearable devices and health tracking apps to promote preventive healthcare measures and encourage a healthier lifestyle among the population. The integration of Artificial Intelligence (AI) and data analytics in digital health solutions is also a notable trend, enabling personalized treatment plans and predictive healthcare analytics.

Local special circumstances: Greece's healthcare system has been facing challenges such as limited resources and an aging population, leading to a growing emphasis on digital health technologies to bridge the gap in healthcare services. The COVID-19 pandemic has further accelerated the adoption of digital health solutions in Greece, as the need for remote healthcare services became paramount to ensure continuity of care while minimizing the risk of virus transmission. The government's initiatives to promote e-health technologies and telemedicine services are also contributing to the growth of the Digital Health market in the country.

Underlying macroeconomic factors: The economic landscape in Greece, characterized by financial constraints and healthcare budget limitations, is driving the adoption of cost-effective digital health solutions that offer efficient healthcare delivery. The increasing smartphone penetration and internet connectivity in the country are facilitating the widespread adoption of digital health platforms among the population. Moreover, partnerships between healthcare providers, technology companies, and insurance firms are fostering innovation in the Digital Health market, creating a conducive environment for sustainable growth in Greece.

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.