Digital Health - Bosnia and Herzegovina

Bosnia and Herzegovina

The Digital Health market in Bosnia and Herzegovina is expected to reach a projected revenue of €28.12m in 2024.
With an annual growth rate of 5.72% between 2024 and 2029, the market is expected to expand and reach a projected volume of €37.13m by 2029.
The average revenue per user (ARPU) is estimated to be €39.05.
In comparison to other countries, United States is predicted to generate the highest revenue in the Digital Health market, with an estimated value of €43,240.00m in 2024.
Within the Digital Health market, the largest market in Bosnia and Herzegovina is Digital Fitness & Well-Being, which is projected to have a total revenue of €16.54m in 2024.
Bosnia and Herzegovina is experiencing a growing demand for telemedicine services, as the country seeks to improve access to healthcare in remote areas.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Digital Health market in Bosnia and Herzegovina is witnessing significant growth and development, driven by various factors shaping the healthcare industry in the country.

Customer preferences: In Bosnia and Herzegovina, customers are increasingly turning to digital health solutions for convenience, accessibility, and efficiency. The demand for online doctor consultations is on the rise as individuals seek quick medical advice without the need to visit a physical healthcare facility. Moreover, the digital fitness and well-being segment is gaining popularity among tech-savvy consumers looking to monitor and improve their health proactively.

Trends in the market: One of the notable trends in the Bosnian Digital Health market is the proliferation of mobile health applications offering a wide range of services, from fitness tracking to mental health support. These apps cater to the growing demand for personalized healthcare solutions and empower individuals to take control of their well-being. Additionally, the digital treatment and care sector is seeing advancements in telemedicine technologies, enabling remote monitoring and management of chronic conditions.

Local special circumstances: Bosnia and Herzegovina's healthcare system faces challenges such as limited access to healthcare services in rural areas and long waiting times for specialist consultations. In this context, digital health solutions play a crucial role in bridging the gap between healthcare providers and patients, particularly in underserved regions. The convenience of online consultations and remote monitoring appeals to individuals who may face barriers to traditional healthcare services.

Underlying macroeconomic factors: The digital health market in Bosnia and Herzegovina is also influenced by macroeconomic factors such as increasing internet penetration, smartphone adoption, and government initiatives to promote healthcare innovation. As the country embraces digital transformation across various sectors, the healthcare industry is adapting to meet the evolving needs of tech-enabled consumers. Moreover, the COVID-19 pandemic has accelerated the adoption of digital health solutions as a means to ensure continuity of care and minimize in-person interactions.

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.