Europe Digital Health Market Size (2020 to 2025)
The size of the digital health market in Europe is predicted to grow at a CAGR of 27.1% from 2020 to 2025. An increase in demand for remote healthcare services for monitoring and consultancy of patients due to the rise in incidences of chronic diseases across the globe is one of the prime factors in the market's growth.
A digital health system means using information technology, electronic communication tools, services, and processes to remotely deliver health care services and facilitate better health to the patients.
The European Commission had launched a public consultation project to gain input from various digital health industry participants to promote innovations and care for its citizens. The information from patients, healthcare professionals, investors, and insurers were included in the digital health policy and brought into practice post-2017, thereby fostering business growth.
In the European region, the digital health market is gaining momentum, with mobile applications being widely used for improving health and lifestyle. Several m-health (mobile health) apps for both patients and doctors for managing diseases and the growing need for health improvements are continuously being developed. High market penetration of technically advanced digital health devices and the existence of government-supported schemes are driving the growth of the digital health market during the forecast period.
Lack of technical knowledge among the patients, strict rules and regulations by authorities, and the risks related to privacy breach and security hinders the European digital health market. Factors such as misuse of patient data online, a limited number of healthcare workers, and financial inconsistency of care further limit the European digital health market.
This research report on the Europe Digital Health Market has been segmented and sub-segmented into the following categories:
Geographically, in 2019, the European digital health market was the second largest globally, owing to factors such as focusing on making healthcare cost-efficient, advanced technologies in improving the digitalization for the healthcare domain, and improved healthcare solutions and services.
The UK Digital Health market was the leader in the European market in 2019. The UK healthcare domain invented this digital healthcare 30 years ago. The UK healthcare sector has recently developed the most sophisticated systems globally, used to track, manage, and deliver patient-centered services. British robotics is rearranging the digital healthcare domain, and this healthcare culture helps the UK become a world leader in artificial medical intelligence.
The German Digital Health Market is forecasted to see a quick acceleration in the coming days and expected to settle in a solid-state by the end of the forecast period. Germany is the second-largest healthcare market globally, followed by the United States, indicating significant growth in the forecast period. The development owes to the country's high technology acquisition incorporated with the relief of regulations during the Covid-19.
The digital healthcare market of France is estimated to have a healthy growth rate during the forecast period. This country's target is to encourage digital care innovation, particularly telemedicine, to battle situations like the COVID-19 pandemic. This country faces many problems like the growing costs of prescription medication and an increasing number of chronic diseases.
Recent Market Developments:
Key market participants in the European digital health market profiled in this report are Apple Inc., AirStrip Technologies, Google Inc., Orange, Allscripts Healthcare, LLC, Mckesson Corporation, Athenahealth Inc., At&T Inc., Biotelemetry, Inc., Cerner Corporation, Cisco Systems, Inc., Koninklijke Philips Nv, Eclinicalworks, Ihealth Lab, Inc. and General Electric Company.