As per the research report, the size of the Europe e-Health Market is valued at USD 3933.84 million in 2022 and estimated to be growing at a CAGR of 15.94 %, to reach USD 8241.07 million by 2027 during the forecast period 2022 to 2027.
E-health has various definitions, but it can be broadly characterized as information technology and electronic communication in the healthcare industry to simplify, be accessible, and affordable. e-Health reduces administrative costs connected with treatment and technical developments spanning from clinical data transmission to electronic health records.
The high growth of the E-health market is due to the gradual shift to a digital healthcare system for patient health analysis and management. Thanks to information and communication technology (ICT) in healthcare, everyone can access proper healthcare facilities. However, for ICT to be fully utilized, infrastructure support in improved internet connections and electronic systems is required.
E-health solutions can provide cost-effective healthcare services, research, public health, and health-related activities, owing to the rise in chronic disease cases and technical advancements in this field.
Practical use and improvement in ICT, an ever-increasing number of mobile and internet users, miniaturization, and other aspects are all propelling this market. Information and communication technologies (ICT) have limitless potential, particularly in the field of healthcare. E-health solutions are in high demand around the region due to expanding demand for population health management and decreasing healthcare costs. In the coming years, technological advancements and subsequent advances that have given rise to several sub-sectors of this industry, such as mobile health, are expected to benefit the global e-health market's growth.
Factors that limit the growth of the e-health industry include fraudulent activities, usability issues, privacy and security concerns. The lack of knowledge of existing services among patients and customers is one of the most significant challenges facing the e-health industry.
This research report on the Europe E-Health Market has been segmented and sub-segmented into the following categories:
Geographically, the European E-health market is projected to witness a predominant share during the forecast period. The market growth is expected to be fueled due to the availability of advanced technologies and several significant players. Europe ranks second in the global e-health market over the forecast period. The Countries such as Germany, the United Kingdom, France, Italy, Spain are significantly expanding the European eHealth market. In addition, the major players in the region are implementing various strategies to gain a market advantage—the processes such as partnerships, mergers, and acquisitions.
The European Parliament, the Council of the European Union, and the European Commission, for example, collectively introduced the General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679) to strengthen and unify data protection for all individuals inside the European Union (EU). This regulation has accelerated the use of interoperability technologies for ensuring data portability in health care settings.
The United Kingdom E-Health Market contributed a large share of the E-healthcare market to Europe due to the growing implementation of innovative technologies throughout the predicted period in the healthcare infrastructure and infrastructure in the country.
According to the Pharmaceutical Services Negotiating Committee, in 2018, nearly 26 million people in England had at least one long-term disease. In addition, long-term conditions accounted for 64 percent of all hospital outpatient appointments, 50 percent of all General Practitioner (GP) appointments, and 70 percent of inpatient bed days in 2018, according to NHS England data. Furthermore, the increased demand for specialized health counseling encourages digital health adoption, particularly in rural regions.
On the other hand, the robust healthcare sectors of Germany and France provide a stable framework for the expansion of the eHealth market in their respective nations. Furthermore, apart from the major European countries, Switzerland, the Netherlands, Denmark, Norway, Ireland, Hungary, and Belgium are other European countries contributing significantly to the eHealth market's growth.
KEY MARKET PLAYERS
Key players operating in the Europe E-Health Market profiled in this report are Boston Scientific Corp., IBM, Motion Computing Inc., GE Healthcare, Epocrates Inc., Telecare Corp., CompuMed, Medisafe, SetPoint Medical, Doximity, Lift Labs, Proteus Digital Health, Apple.