Europe Healthcare IT Market

Europe Healthcare IT Market Size (2024 to 2029)

The size of the Healthcare IT Market in Europe expected to grow at a CAGR of 16% during the forecast period.

Increasing prevalence to improve the quality of diagnostic and treatment procedures is a significant factor for the market to grow enormously in the European region. Increasing spending on healthcare is also a common factor for the market to expand. The trend towards the utilization of convenient and accurate devices in hospitals is propelling the growth rate of the healthcare IT market in Europe. Rising incidences of cancer and cardiovascular diseases across the world due to lifestyle changes and food habits are accelerating the demand of the market. Also, increasing disposable income, especially in urban areas, elevates the market's growth rate. Growing awareness towards the availability of different techniques is promoting the demand of the European healthcare IT market. Rising demand for the early diagnosis of the disease as there are many benefits in detecting the disease at an early stage promotes the growth rate of the market. 

Increasing cybercrimes is also one of the factors limiting the growth rate of this market. The major challenge for market developers is the lack of sufficient knowledge over the use of modern technologies in rural areas. 

The rise in the number of people suffering from various health disorders is significantly influencing the demand for the European healthcare IT market. The growing construction of healthcare centers with the latest equipment is anticipated to create growth opportunities for the market. Also, increasing investments in research institutes by both government and non-government organizations are leveraging this market demand. The IT sector contributes excellent support for the medical industry by introducing innovative products and escalating the growth of this market in Europe. Growing funds from public and private companies in establishing highly featured devices at any cost impact the growth of the market positively. Increasing priority to store patient’s health records in a secure way electronically is ascribed to bolster the demand of the European healthcare IT market. 

However, the cost of installing and maintaining advanced featured devices in the medical sector is a bit expensive, and this is slowly impeding the growth of the market. The shortage of skilled technicians in resolving complex issues is slowly restraining the demand of the European healthcare IT market.

This research report segmented & sub-segmented the Europe Healthcare IT Market into the following categories:

Europe Healthcare IT Market - By Type

• Electronic Health Records
• Computerized Provider Order Entry Systems
• Electronic Prescribing Systems
• PACS
• Lab Information Systems
• Clinical Information Systems
• Telemedicine
• Other Healthcare IT Services

Europe Healthcare IT Market - By Country

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

Regionally, Europe is witnessed growing at a faster rate from the past few years and is also to hit the highest CAGR in the coming years.

The German Healthcare IT Market holds the largest share of the healthcare market due to the growing incidence rate of infectious diseases like COVID-19 and boosting healthcare expenditure. The introduction of information technology for existing facilities is likely to accelerate the industry during the review period.

Healthcare IT Market in France is following Germany in holding the most significant shares of the market. The emergence of cloud-based technology in every application is crucial for the market to grow in these regions.

UK market for healthcare IT is estimated to witness healthy CAGR during the review period due to entry of new key players, adoption of artificial intelligence and the Russian healthcare IT market has also got the same contributing factors like increasing demand for data center services, mainframe management, and enterprise data storage devices.

Furthermore, increasing investments in healthcare centers are likely to outshine the healthcare IT market's growth rate. Italy, Spain, and the Rest of Europe are anticipated to have a significant growth rate in coming years with the rising number of people with various health disorders and their demand for effective diagnostic and treatment procedures.

Companies with a majority of the shares in Europe Healthcare IT Market are Cerner Corporation, Oracle Corporation, Mckesson Corporation, Philips Healthcare, Novarad Corporation, GE Healthcare, Carestream Health, eClinicalworks, EPIC Systems Corporation, Siemens Healthcare (Siemens AG), Athenahealth Inc. and Allscripts Healthcare Solutions, Inc.