Europe Telemedicine Market Research Report – Segmented By Technology, Service, Application, End User and Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029)

Published: January, 2024
ID: 77
Pages: 145

Europe Telemedicine Market Size (2024 to 2029)

The telemedicine market size in Europe was worth USD 18.23 billion in 2023 and is expected to reach USD 51.94 billion by 2029 from USD 21.71 billion in 2024, growing at a CAGR of 19.06% from 2024 to 2029.

Telemedicine technologies are highly beneficial for patients who are suffering from long-term chronic diseases. Frequent follow-ups are required for patients who are suffering from long-term diseases. Telemedicine provides high-quality treatment options remotely. Patients need not visit hospitals every time where they can avail of screening, diagnosis, and treatment digitally. 

The growing support for telemedicine from European government authorities and increasing investments in advanced technologies are likely to escalate the demand for telemedicine services in Europe and drive regional market growth. The demand for telemedicine services has increased significantly during the timeline of the COVID-19 pandemic. Healthcare providers adopted the latest digital technologies to provide various treatment procedures that reduced the mortality rate. The World Health Organization (WHO) in Europe is focusing on launching various initiatives to develop telemedicine through various policies, and such initiatives by public and private organizations are fuelling the adoption of telemedicine in Europe and promoting the growth rate of the European telemedicine market. For instance, ministers of health at the WHO Regional Committee launched a regional digital health action plan for 2023-2030 that emphasizes digital health solutions, including telemedicine. 

The growing penetration of advanced technologies in healthcare across Europe is favoring the regional market and offering growth opportunities for market participants. Telemedicine offers high-quality treatment procedures for geriatric people. People who are aged can avail of senior doctor consultations by connecting through the internet. These techniques minimize the frequent visits to the hospitals and thus lower the medical expenses.

An increasing number of cross-border healthcare initiatives, increasing demand from patients for telemedicine services due to convenience, reimbursement policies associated with telemedicine, the shortage of healthcare professionals and the integration of telemedicine with electronic health records (EHR) in Europe are fuelling the European telemedicine market growth. The growing mobile health (mHealth) adoption in Europe, rising emphasis on preventive healthcare, an increasing number of collaborations between tech and healthcare sectors, an increasing number of patient engagement initiatives and a growing number of telemedicine awareness campaigns in Europe are contributing to the growth of the Europe telemedicine market.

However, a lack of proper knowledge of the use of digital technologies in rural areas and poor internet connections in remote areas are hindering the growth rate of the telemedicine market in Europe. The lack of reimbursement policies by government authorities in developed countries and stringent rules and regulations by the government in providing licenses for healthcare providers to use telemedicine applications are impeding the market's growth rate. Along with this, increasing competition between the key players is also one of the factors that is challenging the growth of the European telemedicine market. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Covered

By Type, Application, Delivery Mode, End-Users and Region

Various Analyses Covered

Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

Germany, the U.K., France, Spain, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, the Czech Republic and Rest of Europe.

 

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

Europe Telemedicine Market - By Type: 

  • Technology
    • Hardware
    • Software
    • Telecommunications
  • Service
    • Remote Patient Monitoring
    • Store-and-Forward
    • Real-Time Interactive

The technology segment is leading with the largest share of the European telemedicine market owing to the growing prominence of the Internet of Things in developed and developing countries. 

The service segment is ascribed to showcase the highest CAGR in the European market by the end of the forecast period. 

Europe Telemedicine Market - By Application: 

  • Tele-Cardiology
  • Tele-Radiology
  • Tele-Pathology
  • Tele-Dermatology
  • Tele-Neurology
  • Emergency Care
  • Home Health
  • Others

The telecardiology segment is ascribed to have a prominent share of the European market due to the increasing number of Cardiovascular Diseases (CVD). According to the European Society of Cardiology, approximately 6 million people are suffering from CVD. 

The teleradiology segment holds the highest CAGR throughout the forecast period. 

Europe Telemedicine Market - By Delivery Mode: 

  • Web-Based
  • Cloud-Based
  • Others

The cloud-based segment is gaining traction over the market shares. The rapid adoption of cloud-based technologies and increasing prominence for big data analytics using the cloud greatly influence the demand for the cloud-based delivery mode. 

Europe Telemedicine Market - By End-Users: 

  • Tele-Hospitals
  • Tele-Homes
  • Others

The tele-hospital segment is ruling with a significant share of the market, whereas the tele-homes segment is likely to have prominent growth opportunities in the foreseen years. Increasing support from the government authorities through funds is likely to gear up the demand for the tele-hospitals segment.

Europe Telemedicine Market - By Country: 

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

The European telemedicine market accounted for a substantial share of the global market in 2023 and is expected to hold the second-largest share in the global market during the forecast period. In Europe, Medical consultation services will remain the most regularly used form of telemedicine physicians use for escalating the outreach of their medical advice. The telemonitoring segment will also enjoy an upward trend owing to the increasing diabetic and disabled population. European Union has begun promoting telemedicine to improve healthcare access while saving resources. However, regulation and reimbursement for telemedicine in the European Union vary, and it is up to the Member States to decide. Given the lack of public reimbursement, the UK is one of the largest markets within the EU, where many people are privately insured.

The telemedicine market in the UK is projected to grow at a CAGR of 10.4% during the forecast period. An increasing number of cancer patients, rising awareness of telemedicine in every corner of the country, government investments in the medical sector, and promotion of quality services even for the common people are propelling the growth of the UK telemedicine market. In addition, the growing focus on constructing healthcare centers with the latest equipment is promoting the growth rate of this market to an extent.

The telemedicine market in Germany is expected to grow steadily during the forecast period.  Rising incidences of chronic diseases, rising acceptance of advanced technology, and the launch of innovative devices favoring the end-users are promoting the demand in the German telemedicine market. Furthermore, continuous investments in developing new technologies in research centers by government and non-government institutes are lavishing the growth rate of this market.

The telemedicine market in France will hit a healthy CAGR during the forecast period. The increasing economy is one of the most common factors for growing the market. The adoption of telemedicine in France and raising awareness over the 4G and 5G spectrum are ascribed to bolster the market demand. Artificial intelligence plays a crucial role in the medical sector by solving complex issues more accurately. This also enhances the growth rate of the French telemedicine market. The trend towards early diagnosis of the disease will likely outshine the market's demand.

The telemedicine market in Spain is growing faster than in the past few years and is to have significant growth opportunities in the foreseen years. Increasing the prevalence of chronic and cardiovascular diseases is a crucial driving factor for growing the market. In addition, ongoing research on the development of new techniques in treating various conditions and developing to focus on artificial intelligence technology greatly influences the growth rate of the Spanish telemedicine market. Rising disposable income and increasing expenditure on healthcare centers are boosting the market's growth. In addition, growing support from the IT sector is lavishing the growth rate of this market.

KEY MARKET PLAYERS:

A few of the prominent companies playing an active role in the European telemedicine market profiled in this report are AMD Global Telemedicine, CISCO Systems, Inc., Medtronic, Inc., GE Healthcare (U.K.), Honeywell Lifesciences, Philips Healthcare, McKesson Corp, Aerotel Medical Systems, CardioComm, and Cerner Corporation.

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Frequently Asked Questions

What is the future outlook for the Europe Telemedicine Market?

The Europe Telemedicine Market is expected to continue growing, with increased adoption, technological advancements, and evolving regulations. It will likely play a crucial role in the future of healthcare delivery in the region.

Is telemedicine in Europe covered by health insurance?

Telemedicine coverage by health insurance varies. Many insurance providers in Europe are beginning to include telemedicine services in their policies, but the extent of coverage may differ.

Are there regulatory barriers to telemedicine in Europe?

Telemedicine in Europe is subject to various regulations that vary from country to country. While some regions have well-established regulatory frameworks, others are still evolving.

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