Europe Telehealth Market, By Component (Hardware, Telecommunication/ Services, Software, and Integrated Systems), Delivery Mode (Cloud-Based Delivery Mode, Web-Based Delivery Mode, and On Premise Delivery Mode), Mode of Purchase (Group Purchase and Individual Purchase), Application (General Consultation, Pathology, Neurology, Cardiology, Dermatology, Surgery, Gynecology, Orthopedics, Ophthalmology, Radiology, and Others), End User (Hospital Telehealth, Physician Telehealth, Home Telehealth, and Others) - Industry Trends and Forecast to 2031.
Europe Telehealth Market Analysis and Insights
According to the European Chronic Disease Alliance, annually, cardiovascular disease (CVD) leads to 3.9 million fatalities in Europe, with over 1.8 million deaths recorded within the European Union (EU). CVD is responsible for 45% of all fatalities in Europe and constitutes 37% of the total deaths in the European Union.
Data Bridge Market Research analyzes that the Europe telehealth market is expected to reach USD 29.18 billion by 2031 from USD 8.73 billion in 2023, growing at a CAGR of 16.7% in the forecast period of 2024 to 2031.
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016–2021)
|
|
Quantitative Units
|
Revenue in USD Billion
|
|
Segments Covered
|
Component (Hardware, Telecommunication/ Services, Software, and Integrated Systems), Delivery Mode (Cloud-Based Delivery Mode, Web-Based Delivery Mode, and On Premise Delivery Mode), Mode of Purchase (Group Purchase and Individual Purchase), Application (General Consultation, Pathology, Neurology, Cardiology, Dermatology, Surgery, Gynecology, Orthopedics, Ophthalmology, Radiology, and Others), End User (Hospital Telehealth, Physician Telehealth, Home Telehealth, and Others
|
|
Countries Covered
|
U.K., Germany, Italy, France, Spain, Switzerland, Russia, Netherlands, Turkey, Belgium, and Rest of Europe
|
|
Market Players Covered
|
Teladoc Health, Inc., Medtronic, Koninklijke Philips N. V., Honeywell International Inc., Siemens Healthineers AG, F. Hoffmann-La Roche Ltd., AMN Healthcare Services Inc., Included American Well (Amwell), Oracle, GCX Corporation, Aerotel Medical Systems Ltd., GE Healthcare, AMD Europe Telemedicine, and Omron Healthcare Inc. among others
|
Market Definition
Telehealth denotes the provision of healthcare services and medical information using telecommunications and digital technology. This encompasses a broad range of remote healthcare services, including virtual consultations, remote monitoring of patients, teletherapy, telepharmacy, and telemedicine. Through telehealth, patients can access medical care, advice, and treatment from healthcare providers remotely, often from the comfort of their own homes. This innovative approach improves access to healthcare, particularly for those in rural or underserved areas, and enhances the efficiency of care delivery. Telehealth has gained significant popularity due to its convenience, cost-effectiveness, and potential to improve health outcomes by enabling timely and accessible medical support.
Europe Telehealth Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Growing Prevalence of Chronic Diseases and Conditions
Chronic diseases such as cardiovascular diseases, diabetes, and respiratory illnesses require ongoing management and monitoring, often involving frequent visits to healthcare providers. Telehealth offers a suitable and cost-effective way to manage these conditions remotely, allowing patients to receive care without the need for frequent in-person visits.
Telehealth platforms can enable patients to monitor their vital signs, track their symptoms, and communicate with healthcare providers from their homes. This not only improves convenience for patients but also allows healthcare providers to monitor patients more closely and intervene early if any issues arise. Additionally, telehealth can help reduce healthcare costs associated with chronic disease management, as it can reduce the need for hospitalizations and emergency room visits.
- Accessible and Widely Adopted M-Health Applications
Mobile health applications, often available on smartphones and tablets, allow patients to access healthcare services and information remotely. They can facilitate various telehealth services, such as virtual consultations with healthcare providers, remote monitoring of vital signs, and medication reminders. The widespread adoption of smartphones and tablets worldwide has made it easier for patients to access mHealth applications, regardless of their location. This increased accessibility has expanded the reach of telehealth services, especially in rural or underserved areas where access to traditional healthcare facilities may be limited.
Furthermore, the user-friendly interfaces and functionalities of mHealth applications have contributed to their widespread adoption among patients. These applications are often designed to be intuitive and easy to use, allowing patients to manage their health more effectively and engage with telehealth services more readily.
Restraint
- High Cost Associated with Healthcare IT Tools
The high cost associated with healthcare IT tools is a significant restraint on the Europe telehealth market. Implementing telehealth services requires substantial investment in systems, software, and hardware, which can be a barrier for many healthcare providers, especially those with limited financial resources. The cost of acquiring, implementing, and maintaining telehealth systems, software, and hardware can be prohibitively high, preventing some healthcare organizations from adopting telehealth solutions. Additionally, the complexity of integrating these IT tools with existing healthcare systems and ensuring interoperability can further increase costs. Training healthcare professionals to effectively use these tools also adds to the overall cost of implementing telehealth services.
Opportunity
- Growing Expansion of Telehealth Application
The expansion of telehealth services and the increased use of remote consultations are opening up new opportunities for telehealth market players. Telehealth platforms enable healthcare providers to assess patients remotely, provide guidance, and monitor treatment progress, offering greater accessibility and convenience for patients with musculoskeletal conditions. By eliminating geographical barriers and making healthcare more widely available, telehealth can reach patients who might otherwise face challenges accessing medical care due to distance or limited healthcare infrastructure. This growing access allows telehealth companies to cater to a broader patient base and expand their offerings. With real-time monitoring through video consultations, secure messaging, and remote monitoring devices, healthcare professionals can keep track of patients' vital signs, progress, and conditions without needing in-person visits. The seamless integration of health monitoring tools into telehealth platforms also supports personalized care management, making it easier for healthcare providers to offer high-quality, continuous care to patients. This trend presents a significant opportunity for telehealth market players to enhance their services and grow their market share.
Challenge
- Software Incompatibility Issues Due to Varying Data Standards
In the evolving landscape of the Telehealth market, the integration and exchange of data among diverse software systems, including electronic health records (EHRs), remote monitoring platforms, and healthcare provider systems, pose significant challenges. The lack of standardized data formats and protocols leads to interoperability issues, hindering effective communication and data sharing. This disparity among software systems results in fragmented information, impeding the seamless flow of data crucial for monitoring. Furthermore, the integration of data from various sources, such as wearable devices and electronic medical records, encounters hurdle due to differing proprietary formats. This complexity in consolidating and analyzing data hampers the efficiency of digital therapeutic solutions, contributing to implementation delays, increased costs, and obstacles in market growth.
Recent Developments
- In August 2023, Fresenius SE & Co. KGaA announced the FDA's 510(k) clearance for Versi HD with GuideMe Software, a fully redesigned self-guided interface for the company's VersiHD chronic home hemodialysis (HHD) equipment. The goal of VersiHD with GuideMe Software is to change how nurses and patients see HHD. This helped the company to expand its product line with availability in the market
- In April 2023, Medtronic and DaVita Inc. jointly launched Mozarc Medical, an independent company dedicated to transforming kidney health and advancing patient-centered technology solutions
- In January 2022, Evoqua Water Technologies LLC finalized the acquisition of the renal business formerly operated by Mar Cor Purification, a subsidiary of STERIS Plc. This acquisition will broaden Evoqua's service presence in North America, strengthening its position in the healthcare sector
- In December 2021, ExThera Medical and Asahi Kasei Medical Co., Ltd., a core operating company of the Asahi Kasei Group, signed an exclusive distribution agreement in Japan for ExThera's Seraph 100 Microbind Affinity Blood Filter (Seraph 100). Under the agreement, ExThera Medical and Asahi Kasei Medical Co., Ltd. collaborated to secure regulatory approval of Seraph 100 for commercialization in Japan. This agreement, as a significant step, helped the company in the expansion of the intensive care business field
Europe Telehealth Market Scope
The Europe telehealth market is segmented into five notable segments based on component, delivery mode, mode of purchase, application, and end user.
The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the differences in your target markets.
Component
- Hardware
- Telecommunication/Services
- Software
- Integrated Systems
On the basis of component, the market is segmented into hardware, telecommunication/ services, software and integrated systems.
Delivery Mode
- Cloud-Based Delivery Mode
- Web-Based Delivery Mode
- On-Premise Delivery Mode
On the basis of delivery mode, the market is segmented into cloud-based delivery mode, web-based delivery mode, and on-premise delivery mode.
Mode of Purchase
- Group Purchase
- Individual Purchase
On the basis of mode of purchase, the market is segmented into group purchase and individual purchase.
Application
- General Consultation
- Pathology
- Neurology
- Cardiology
- Dermatology
- Surgery
- Gynecology
- Orthopedics
- Ophthalmology
- Radiology
- Others
On the basis of application, the market is segmented into general consultation, pathology, neurology, cardiology, dermatology, surgery, gynecology, orthopedics, ophthalmology, radiology, and others.
End User
- Hospital Telehealth
- Physician Telehealth
- Home Telehealth
- Others
On the basis of end user, the market is segmented into hospital telehealth, physician telehealth, home telehealth and others.
Europe Telehealth Market Regional Analysis/Insights
The Europe telehealth market is segmented into five notable segments based on component, delivery mode, mode of purchase, application, and end user.
The countries covered in this market report are U.K., Germany, Italy, France, Spain, Switzerland, Russia, Netherlands, Turkey, Belgium, and rest of Europe.
U.K. is expected to dominate in the Europe region due to its advanced technology adoption, robust healthcare infrastructure, and mature market.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Europe Telehealth Market Share Analysis
The Europe telehealth market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breadth, application dominance, and product type lifeline curve. The above data points provided are only related to the company’s focus on the market.
Some of the major market players operating in the market are Teladoc Health, Inc., Medtronic, Koninklijke Philips N. V., Honeywell International Inc., Siemens Healthineers AG, F. Hoffmann-La Roche Ltd., AMN Healthcare Services Inc., Included American Well (Amwell), Oracle, GCX Corporation, Aerotel Medical Systems Ltd., GE Healthcare, AMD Europe Telemedicine, and Omron Healthcare Inc. among others.
SKU-