Digital Health - Turkey

Turkey

Turkey is projected to see a revenue of €1,168.00m in the Digital Health market by 2024.
It is expected to experience an annual growth rate of 8.36% (CAGR 2024-2029), resulting in a market volume of €1,745.00m by 2029.
The average revenue per user (ARPU) is estimated to be €38.86.
In comparison to other countries, United States is projected to generate the highest revenue of €43,240.00m in 2024.
The largest market within Digital Health market in Turkey will be Digital Fitness & Well-Being, with a total revenue value of €737.00m in 2024.
Turkey's digital health market is experiencing rapid growth, driven by government initiatives to promote telemedicine and digital health solutions.

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

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Monnaie

Analyst Opinion

The Digital Health market in Turkey is experiencing significant growth and development, driven by various factors shaping the healthcare landscape in the country.

Customer preferences: Consumers in Turkey are increasingly embracing digital health solutions due to their convenience, accessibility, and cost-effectiveness. The younger population, in particular, is more tech-savvy and prefers digital platforms for fitness tracking, online doctor consultations, and managing their overall well-being.

Trends in the market: One notable trend in the Turkish Digital Health market is the rising popularity of digital fitness and well-being apps. With busy lifestyles and a growing awareness of the importance of health and wellness, more people are turning to these apps for personalized workout routines, nutrition tracking, and mental health support. Another trend is the increasing demand for online doctor consultations. Turkey has a high smartphone penetration rate, making telemedicine services easily accessible to a large portion of the population. This trend is particularly prominent in rural areas where access to healthcare facilities may be limited. Moreover, the digital treatment and care segment is also witnessing growth, with a shift towards remote monitoring and management of chronic conditions. Patients are seeking ways to monitor their health conditions from home, reducing the need for frequent hospital visits and improving overall quality of life.

Local special circumstances: Turkey's unique geographical position bridging Europe and Asia has contributed to the adoption of digital health solutions influenced by both regions. The country has a well-established healthcare system with a strong emphasis on technology integration, making it fertile ground for digital health innovation. Furthermore, the Turkish government has been supportive of digital health initiatives, implementing policies and regulations to promote the use of technology in healthcare delivery. This support has created a conducive environment for startups and established companies to invest in the Digital Health market.

Underlying macroeconomic factors: Economic factors such as the increasing disposable income and a growing middle-class population in Turkey are driving the demand for digital health services. As people become more conscious of their health and well-being, they are willing to invest in digital solutions that offer convenience and personalized care. Additionally, the COVID-19 pandemic has accelerated the adoption of digital health technologies in Turkey, as people seek alternative ways to access healthcare services while minimizing physical contact. This shift towards telemedicine and digital health tools is expected to continue shaping the market landscape 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.