Published Date: 2021-08-24
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European Digital Health Market size is expected to reach USD 149.7 billion by 2027, according to a latest forecast report by Graphical Research.
COVID-19 has created chaos in the conventional healthcare system. Initially, telehealth was seen as a threat to the hospital revenue, but this scenario has changed after the pandemic. The medical facilities with telehealth capabilities withstood all the crises and were able to cater to the needs of the patients more efficiently, while also generating significant revenue. Thus, platforms like telehealth flourished during the pandemic and attracted more customers which will pose a positive impact on the market growth.
Relaxation in government policies, change in reimbursement laws, and high adoption of digital health by many private and public players is anticipated to boost the market revenue. Rapidly growing IT infrastructure in Europe and high adoption of digital healthcare platforms by the people may stimulate the market in the future. However, security concerns and high capital investment may restrain small clinics, small practitioners to adopt digital health technologies, thereby hampering the market demand.
The digital health system segment will show a lucrative growth of 6.7% during the forecast period. The digital health system is further classified into EHR and an e-prescribing system. The electronic health record is a faster and safer way to handle medical records. Hospitals, medical practitioners, etc. are adopting EHR technology because it enables them to diagnose patients more efficiently and it reduces medical error while handling the medical records. Moreover, it provides up-to-date, accurate, and complete information regarding patients at the point of care.
Browse detailed statistical insights from the report, “Europe Digital Health Market Forecast 2027 By Component [Hardware, Software, Services], By Technology [Tele-healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitors, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors), Apps (Medical, Fitness)}, Health Analytics, Digital Health System (EHR, e-prescribing System)], Research Report, Country Outlook (Germany, UK, France, Italy, Spain, Russia, Poland, Switzerland, The Netherlands, Sweden, Norway, Denmark, Finland, Iceland), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1163/europe-digital-health-market
The services segment accounted for a market share of over 35.3% in 2020. The segmental growth of services is attributed to rising digital health services provided by many vendors along with the increasing outsourcing of cloud service facilities. Also, many companies are providing novel digital health services due to growing demand by the people, especially after the COVID-19 pandemic. For instance, in March 2019, Philips expanded its teleradiology services to provide a precision diagnosis. The new update includes cloud-based picture archiving and communication systems (PACS) software and vendor-neutral archive (VNA) solutions, the platform can be used for visualization, advanced analytics, and workflow applications.
The UK digital health market is anticipated to reach USD 24.7 billion by 2027. The high-country growth is attributable to rising government initiatives. UK’s National Health Services made mHealth, telehealth a priority in the country, and the government expanded its budget to provide resources by 2022-23. Additionally, increasing adoption of digital health to minimize healthcare costs will play a pivotal role in the country level market growth.
The Digital Health in European market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Market, By Technology
Europe Market, By Component
The above information has been provided for the following countries:
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