Europe Remote Patient Monitoring Market

Europe Remote Patient Monitoring Market Size (2022 to 2027)

The size of the remote patient monitoring market in Europe was worth USD 1187.42 Million in 2022 and is estimated to be growing at a CAGR of 13.52%, to reach USD 2238.55 Million by 2027. Europe accounts for the second-largest market share in the global market.

Growing concern regarding the older population and the expenses associated with chronic illness have fueled the healthcare sector's home healthcare trend. As a result, the prestige and advantages of remote patient monitoring technologies are attracting vendors from all over the European region. In addition, remote patient monitoring has the potential to change the way patients manage their own illnesses, empowering them to become the guardians of their own health.

On the other hand, the need for healthcare and long-term care services will rise as this demographic group grows, putting a greater strain on governments and health systems, which is expected to boost the European remote patient monitoring market. Remote patient monitoring can improve the reach and accessibility of healthcare while minimizing unnecessary visits, hospital admissions, and readmissions and the time and costs associated with traveling to meet with healthcare providers.

Furthermore, the developing requirement for in-house monitoring supported central data management systems, and rising accuracy and efficiency of remote patient monitors are significant high impact drivers for regional growth.

The inconsistent and varied reimbursement systems in Europe are the key drawbacks to the market growth. In the field of telehealth and telemedicine, healthcare fraud is an essential consideration. A patient or a physician can be exploited in a variety of ways. Several issues are hindering the expansion of the market examined, including healthcare industry experts' aversion to adopting patient monitoring systems in developing nations, a strict regulatory environment, and high technology costs.

This research report on the European remote patient monitoring market has been segmented and sub-segmented into the following categories:

By Type: 

• Breath Monitors
• Physical Activity Monitors
• Heart Monitors
• Hematological Monitors
• Multi-Sign Monitors

By Application: 

• Cancer Treatment
• Cardiovascular Diseases
• Diabetes Treatment
• Sleep Disorder and Weight Management
• Fitness Monitoring

By End-Use: 

• Ambulatory Care Centers
• Hospitals
• Home Healthcare

By Country: 

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, Europe, mainly Western European nations, is expected to be the second-largest revenue-generating market throughout the forecast period owing to the increased mortality rates and rising demand for low-cost therapy. Therefore, the European remote patient monitoring market is expected to develop at a healthy rate over the projected period. In addition, the rising prevalence of diabetes is one reason expected to boost demand for hematological monitoring equipment in the remote monitoring devices market.

The UK remote patient monitoring market is forecasted to lead the European market during the forecast period. Chronic diseases such as cardiovascular disease are on the rise in the United Kingdom. As a result, the need for patient monitoring equipment has surged in the United Kingdom. This has been the key driver of the market's expansion. The UK is a developed country with a well-organized healthcare system. As a result, the country is home to several worldwide firms in the patient monitoring market. The United Kingdom has made significant progress in remote patient monitoring in recent years, and the industry is expected to grow in value. Market participants use mergers and acquisitions and new product development to ensure long-term sustainability.

The German remote patient monitoring market is anticipated to account for the highest share in the European market during the forecast period. The prevalence of cardiovascular diseases (CVD) has risen in Germany, raising the demand for cardiac monitoring. According to data published by the Institute for Health Metrics and Evaluation, cardiovascular illnesses claimed the lives of 10.72 million Germans in 2019. As a result of the factors above, the cardiology market is predicted to increase significantly during the forecast period. Furthermore, according to the International Diabetes Federation (IDF), diabetes will affect 9.51 million people in Germany by 2020. Other factors contributing to the increased prevalence of diabetes include sedentary lifestyles and obesity. As a result of the increasing frequency of chronic diseases in Germany, the German patient monitoring industry will rise.

KEY MARKET PLAYERS:

A few prominent companies in the Europe remote patient monitoring market profiled in this report are Welch Allyn, Bosch, Johnson & Johnson, Intel, Roche, Philips Healthcare, Philips, Healthanywhere Inc, Honeywell American Telecare, Biotronik, and Covidien Plc.