Industry Trends

Europe Telemedicine Market share was valued at USD 12.8 billion in 2019 and is expected to witness 19.1 % CAGR from 2020 to 2026

Telemedicine allows healthcare professionals to diagnose, evaluate and treat patients using telecommunication system in remote areas. Telemedicine technology is widely used for medication management, follow-up visits and chronic condition management that can be provided remotely. The growing number of COVID-19 cases across the continent will drive regional industry expansion.
 

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The demand for telemedicine technology is expected to grow rapidly owing to increasing prevalence of COVID-19 infection across the region. For instance, as per the European Centre for Disease Prevention and Control (eCDC), by 16^th October 2020, more than 6.5 million cases of COVID-19 infection were recorded in the Europe region. This has led to a significant spike in demand for remote patient monitoring (RPM) and virtual visits amid COVID-19 outbreak. Furthermore, social distancing measures among physicians and patient will minimize healthcare delivery cost that will further fuel the overall regional telemedicine market growth.

Rising number of smartphone users coupled with increasing use of health apps across the region will boost the telemedicine market. For instance, there has been a tremendous rise in the use of smartphones by physicians (58%) in the Germany. This has led to increase in adoption rate of mhealth apps. Similarly, various modern apps in smartphones enable the patient to schedule doctor’s appointment and manage their health insurance and hence save money on prescription. Such services via smartphones, the healthcare professional can focus on providing quality care during the time they interact with their patient. Such aforementioned factors will lead to Europe telemedicine market growth. 

Europe Market, By Service

By service, the telemedicine market is segmented into tele-monitoring, tele-consulting, tele education/training and others. Tele-consulting segment accounted for USD 4.8 billion in 2019 and is expected to register significant growth during the forecast timeframe. Various government restrictions during COVID-19 pandemic such as lockdown and social distancing measures has increased the demand for tele-consultation. Thus, this is expected to boost the segmental growth. Increasing demand for saving travel time and cost to avail healthcare service will further propel segment growth in the future.

Europe Market, By Type

Based on type, the telemedicine market is bifurcated into telehospital and telehome. Telehome segment held a lucrative market share in 2019 and is expected to witness growth of 19.5% CAGR during the forecast period. Growing need of social distancing measures and lockdown imposed by national government has encouraged the patients to opt for contactless telehome care services. Furthermore, a growing adoption of remote patient monitoring devices will further foster the segmental expansion. Also, high penetration of internet-based solution will be another factor in increasing customer preference for the segment.

Europe Market, By Specialty

On basis of speciality, the telemedicine market is classified into cardiology, dermatology, mental health, neurology, orthopaedic, gynaecology and others. Application of telemedicine in orthopaedic segment is poised to grow at 18.9% across the forecast timeframe. Telemedicine is used in orthopaedic clinics for routine post-surgical check-ups, urgent care during the emergency and to reduce visit frequency that will drive the segmental growth. Furthermore, telemedicine technology allows doctors to consult more patient in less time. It also allows patient to reduce cost and travel time associated with post-surgical treatment. Aforementioned factor will boost the segmental growth.

Europe Market, Delivery Mode

The delivery mode segment of telemedicine market is divided into web/mobile and call centre. The web/mobile is further sub-classified into telephone and visualized. The visualized segment is estimated to reach USD 9.7 billion by 2026. Rising need for emergency medical assistance for patient located in remote area is propelling the adoption of virtual solutions including video conferencing telemedicine system. Growing awareness among patient regarding telemedicine, penetration of cloud-based services and technologically advanced solution are anticipated to fuel the adoption of visualized medical delivery solution. For instance, according to the report published by American Hospital Association in 2016 stated that, nearly 67% of U.S. hospitals arrange video conference and other communication technology between consulting practitioners and patients. Thus, this will increase the demand and foster the segmental growth.

Europe Market, By Country

Spain telemedicine market will witness significant growth of 18.9% during the forecast period. Growing number of geriatric populations in the country is contributing towards the rise in disease prevalence. For instance, geriatric population are prone to COVID-19 infection and are at higher risk of infection. This will encourage the elderly patients to prefer telemedicine facilities for better healthcare, thereby supplementing the industry growth. Moreover, high market penetration of technically advanced digital health devices and the existence of favorable government initiatives is expected to drive telemedicine market during the forecast period.

Competitive Market Share

Some of the major industry players involved in market include Doctor on Demand, AMD Global Telemedicine, Cerner Corporation, Cisco and Teledoc among others. Companies undertake various strategies such as mergers & acquisition, new product launch and geographic expansions to strengthen their market share. For instance, in August 2020, HealthHero launched telehealth platform. The service enable patients to communicate with mental health clinicians, general practitioners and specialists. This launch is expected to expand their business portfolio as well as customer base.

Europe Telemedicine Market Background

The evolution of pertinent information, communication technology and telemedicine application in Europe began in late 1920s by Dutch, Italy, Norway and France physicians. The first clinical application in telemedicine was in cardiology. This was followed by radio consultation from medical centers for patients across the remote areas. Moreover, telemedicine field has changed drastically due to advancement in technology. Transformation in telemedicine field and its application is useful to give medical professionals an edge in a competitive healthcare platform. Many applications of telemedicine offer patient 24/7 access to medical advice and care. Furthermore, the COVID-19 pandemic has increased greater demand for telemedicine services from the general public, driving the industry expansion.