Market Insights Digital Digital Health Digital Treatment & Care

Digital Therapeutics - Sweden

Sweden

Revenue in the Digital Therapeutics market is projected to reach US$79.98m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 18.78%, resulting in a projected market volume of US$159.20m by 2028.
User penetration will be 14.55% in 2024 and is expected to hit 30.50% by 2028.
The average revenue per user (ARPU) is expected to amount to US$53.20.
In global comparison, most revenue will be generated in the United States (US$3,147.00m in 2024).

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Analyst Opinion

The Digital Therapeutics market in Sweden is experiencing significant growth and development in various therapeutic areas.

Customer preferences: Customers in Sweden are increasingly seeking digital solutions to support their healthcare needs, driving the demand for Digital Therapeutics products. The convenience, accessibility, and personalized nature of these products align well with the preferences of tech-savvy Swedish consumers.

Trends in the market: In Sweden, there is a notable trend towards the adoption of Digital Therapeutics for Diabetes care, Mental & Behavioral health, Cardiovascular Health, and Musculoskeletal Health. The market is witnessing a surge in the development of innovative digital solutions tailored to these specific therapeutic areas, catering to the growing demand for non-pharmacological treatment options.

Local special circumstances: Sweden boasts a strong healthcare system that prioritizes innovation and technology. This environment fosters the growth of the Digital Therapeutics market, with favorable regulations and policies supporting the integration of these products into the healthcare landscape. Additionally, the high level of digital literacy among the Swedish population contributes to the widespread acceptance and utilization of Digital Therapeutics.

Underlying macroeconomic factors: The increasing prevalence of chronic diseases, such as diabetes and cardiovascular conditions, in Sweden is driving the demand for effective and accessible treatment options. Digital Therapeutics offer a cost-effective solution for managing these chronic conditions, aligning with the government's focus on sustainable healthcare delivery. Moreover, the emphasis on preventive healthcare and holistic wellness in Sweden further propels the adoption of Digital Therapeutics across different therapeutic areas.

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.