Europe Digital Health Market

Europe Digital Health Market Size (2024 to 2032)

The europe digital health market is estimated to be worth USD 49.93 billion in 2024 and is projected to reach a valuation of USD 189.21 billion by 2032. it is predicted to register a CAGR of 18.12% from 2024 to 2032.

MARKET SCENARIO

The growing number of people suffering from various diseases, especially chronic diseases, in the European region and the scarcity of medical professionals are propelling the need for digital health in the European region and resulting in market growth. As mentioned by Eurostat, an estimated 35.2% of the European population suffered from a long-standing (chronic) health problem in 2021. In addition, the geriatric population in the EU is increasing considerably with each year passing, which is further predicted to accelerate the need for more medical staff to handle the treatment demands and favor the digital health market in the European region. Digital health technologies help older people maintain independence in their old age without depending on the other person. Therefore, it improves the quality of life and reduces healthcare expenditure. The adoption of digital health by aged people has seen a significant uptick during the peak days of COVID-19. With that boost, the digital health market in this region is anticipated to carry momentum in the coming days and register a healthy CAGR. Older people use smartphone apps and telehealth and communicate with healthcare providers to monitor and safeguard their health conditions. Chronic diseases such as CVDs increase the mortality rate in Europe. As a result, digital health technology increased its attention in cardiology. In recent years, cardiology diseases have become more common in older people. This digital health helps in prevention and treatment by helping with self-caring.

The growing internet connectivity and increasing usage of smartphones are anticipated to propel the market’s growth rate. In the European Union, nearly 70% of homes use high-speed internet connection, increasing the demand for digital technology. Furthermore, due to the increase in the patient population, there has been a decrease in the number of healthcare providers. Therefore, it may become a challenging healthcare situation that can be overcome by using digital technology. Digital technology helps patients have appointments with doctors anytime, reduces travel distances, and allows patients to get treatment by sitting at home. Furthermore, growing R&D to bring products with more advanced features to the market by the market participants, increasing support by the EU governments, and growing adoption of advanced technologies such as AI in software and devices to increase the quality of the treatment is further expected to drive the digital health market forward in the European region.

On the other hand, data security and privacy issues are expected to impact Europe's digital health market growth negatively. Hackers may misuse the data stored in healthcare records. Furthermore, the high costs associated with software development, lack of skilled professionals, and lack of awareness regarding health-related applications among the public are expected to hamper the market’s growth rate during the forecast period.

SEGMENTAL ANALYSIS

Europe Digital Health Market Analysis By Technology

• Tele-Healthcare
  • Telecare
    • Activity Monitoring
    • Remote Medication Management
  • Telehealth
    • LTC Monitoring
    • Video Consultation
• mHealth
  • Wearables
    • BP Monitor
    • Glucose Meter
    • Pulse Oximeter
    • Sleep Apnea Monitors
    • Neurological Monitors
    • Others
  • Apps
    • Medical Apps
    • Fitness Apps
• Health Analytics
• Digital Health Systems
  • Electronic Health Records
  • E-Prescribing Systems

Based on technology, the mobile health segment had the most significant share of the European digital health market in 2023. The number of mHealth apps is increasing in Europe, one of the major factors favoring the segment to register the lead among all the segments. In addition, the increase in smartphone users and growing awareness levels among the population regarding mobile health further support the segment in registering dominance. The market participants of mHealth are putting significant efforts into offering better healthcare and developing user-friendly applications. Furthermore, the increasing preference from the public to use mHealth to keep a close eye on their disease management is further promoting the segment’s growth. During the forecast period, the mHealth segment in the European digital health market is expected to hold a strong footprint.

On the other hand, the tele-healthcare segment is estimated to hold the fastest growth rate during the forecast period. The awareness levels of tele-healthcare among the European population have risen significantly recently, primarily propelling the segment’s growth. Europe is one of the regions that have been severely impacted by COVID-19. Many European people have adopted telehealth during the pandemic to manage their healthcare needs. The advantages associated with telehealth are further promoting the adoption of the segment and resulting in its growth of the segment. People can access healthcare in rural areas by using telehealth, favoring the segment.

Europe Digital Health Market Analysis By Component

• Hardware
• Software
• Services

Based on components, the services segment had the most significant share of the European market in 2023. The growing demand for digital healthcare services from the European population is driving the services segment. In addition, the increasing efforts by the market participants to strengthen their position in the market and offer the best possible care are promoting the segment's growth. Therefore, it is anticipated that the services segment will hold a promising occupancy in the European digital health market during the forecast period.

On the other hand, the software segment is gaining attention and is predicted to grow the fastest during the forecast period in the European digital health market. The increasing adoption of software applications by the end-users and the growing number of software programs in the market are propelling the segment's growth. Furthermore, the availability of robust healthcare IT infrastructure and growing digitalization in the healthcare industry favor the segment's growth.

GEOGRAPHICAL ANALYSIS

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

Geographically, the European region held a substantial share of the global market in 2023, owing to the increasing telehealth services and initiatives from the EU governments. In addition, due to the increasingly sedentary lifestyle and unhealthy diet, a considerable population of Europe is being diagnosed with various diseases. The adoption of digital health technologies for treatment management is increasing, resulting in the growing usage of remote patient monitoring devices. Remote patient monitoring devices are used for diabetes, cardiovascular disease, and hypertension. These devices will track the body's condition at regular intervals, store the data in the application related to the device, and send the data to the healthcare provider for further treatment.

The UK digital health market led the European region in 2023. Recently, there has been significant growth in the number of video consultations between healthcare providers and patients from the United Kingdom, which is one of the key factors propelling the market in the UK. In addition, digital health application approvals have increased in the UK, which improves personalized care and population health with the support of mobile devices.

On the other hand, the Italian digital health market is expected to showcase the fastest growth during the forecast period from Europe.

The German digital health market is anticipated to grow steadily in the coming days. In Germany, in 2020, the government released an act named the Digital Health Act. This act helps maintain digital health in a secure way, despite all the frauds. The adoption of digital technology has increased among a large number of physicians. Due to the pandemic, the number of people using digital technology in the healthcare sector has increased. Increasing awareness programs about the benefits of using digital technology for their health also drives the market forward in this region.

KEY MARKET PLAYERS

A few of the notable companies dominating the European digital health market profiled in this report are Apple Inc., AirStrip Technologies, Google Inc., Orange, Allscripts Healthcare, LLC, Mckesson Corporation, Athenahealth Inc., At&T Inc., Biotelemetry, Inc., Cerner Corporation, Cisco Systems, Inc., Koninklijke Philips Nv, Eclinicalworks, Ihealth Lab, Inc. and General Electric Company.