Market Insights Digital Digital Health Digital Treatment & Care

Connected Biosensors - Bosnia and Herzegovina

Bosnia and Herzegovina

The Connected Biosensors in Bosnia and Herzegovina is projected to reach a revenue of €3.87m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -0.63%, resulting in a projected market volume of €3.75m by 2029.
The user penetration is forecasted to be 1.42% in 2024 and is expected to increase to 1.46% by 2029.
The average revenue per user (ARPU) is projected to be €85.47.
In comparison to other countries, China is expected to generate the highest revenue in the market, amounting to €4,123.00m in 2024.
Bosnia and Herzegovina is experiencing a growing demand for connected biometric sensors in the digital health market, as the country continues to invest in innovative healthcare solutions.

Key regions: Italy, Germany, France, United Kingdom, India

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Connected Biosensors market in Bosnia and Herzegovina is witnessing significant growth and development.

Customer preferences: Customers in Bosnia and Herzegovina are increasingly gravitating towards connected biosensors due to the convenience, accuracy, and real-time monitoring capabilities they offer. The demand for smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms is on the rise as individuals seek to take control of their health and well-being.

Trends in the market: One notable trend in the connected biosensors market in Bosnia and Herzegovina is the increasing adoption of these devices by the elderly population. With the country experiencing a demographic shift towards an aging population, there is a growing need for remote monitoring solutions to ensure the health and safety of the elderly. Smart blood pressure meters and social alarms, in particular, are becoming essential tools in providing timely assistance and intervention when needed.

Local special circumstances: Bosnia and Herzegovina's healthcare system faces challenges such as limited access to healthcare facilities in remote areas and a shortage of healthcare professionals. In such a context, connected biosensors play a crucial role in bridging the gap by enabling remote monitoring and telehealth services. These devices empower individuals to track their health parameters at home and share the data with healthcare providers, facilitating timely interventions and personalized care.

Underlying macroeconomic factors: The increasing penetration of smartphones and the availability of affordable internet connectivity in Bosnia and Herzegovina are driving the adoption of connected biosensors. With more people gaining access to digital technologies, the ecosystem for connected health devices is expanding, creating opportunities for growth in the market. Additionally, the government's focus on healthcare modernization and digitalization initiatives is further propelling the demand for connected biosensors in the country.

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.