Europe Telehealth Market Size Expands at Significant CAGR of 6% to Touch USD 47 Billion by 2030
Europe Telehealth Market is flourishing because of the heightened focus on the diagnosis, treatment, and management of the increasing prevalence of chronic diseases and growing adoption of digital health.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Europe Telehealth Market size at USD 31.28 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Europe Telehealth Market size to expand at a CAGR of 5.95% reaching a value of USD 46.89 billion by 2030. Increasingly high adoption of internet and smartphones as well as the number of remote healthcare service launches are key growth drivers for the European Telehealth Market. Furthermore, increasing incidences of both communicable and non-communicable illnesses, together with the growing elderly population, are expected to fuel the expansion of Europe Telehealth Market over the period in analysis.
Opportunity: Shortage of medical professionals
The rapidly aging population, a surge in chronic illnesses, and the effects of the COVID-19 pandemic are fueling the demand for healthcare professionals across Europe. However, the aging health workforce is emerging as another challenge to the healthcare sector in Europe. According to a report published by WHO/Europe in September 2022, 40% of medical professionals in 13 of the 44 European nations that have statistics available are already 55 years of age or older, which presents a serious threat to the workforce's sustainability. Telehealth is emerging as an effective solution to tackle the medical professional shortage in Europe by facilitating cross-border medical services, which is anticipated to drive the market over the forecast period.
Impact of Escalating Geopolitical Tensions on Europe Telehealth Market
The escalating geopolitical tensions are providing lucrative growth opportunities to the Europe Telehealth Market. Russia’s invasion on Ukraine disrupted the healthcare system of Ukraine with thousands of highly qualified healthcare professionals have fled or been displaced as a result of Russia's invasion. As of March 2023, more than 1,150 medical institutions have been damaged or destroyed, according to the Ukrainian Ministry of Health. Moreover, a new group of patients has emerged: those injured by bullets, explosives, or debris. Continuous air strikes also made Ukrainian patients and people reluctant to seek medical assistance outside of their houses. Telehealth emerged as an effective solution to provide medical services and care to people in war-torn regions. Digital technologies provide remote patient meetings, screen-sharing of imaging findings, and video conferences with specialists around the globe.
Sample Request @ https://www.blueweaveconsulting.com/report/europe-telehealth-market/report-sample
Europe Telehealth Market
Segmental Coverage
Europe Telehealth Market – By Communication Technology
Based on communication technology, the Europe Telehealth Market is segmented into video conferencing, mHealth solutions, and others. The mHealth segment holds the largest share of the Europe Telehealth Market by communication technology. The deepening penetration of smartphones and favorable government initiatives and projects, such as the EU mHealth Hub Project 2020. The increasing use of mHealth is expected to facilitate early diagnosis of diseases and offer cross-border healthcare services. mHealth is also expected to tackle the rising aging population suffering from chronic diseases along with the increasing cost of healthcare in Europe.
Europe Telehealth Market – By Country
The in-depth research report on the European telehealth Market covers a number of country-specific markets, including Germany, the United Kingdom, Italy, France, Spain, Belgium, Russia, the Netherlands, and rest of Europe. Germany dominates the Europe Telehealth Market. The increasing prevalence of chronic diseases, strong healthcare infrastructure, high healthcare spending, well-established health digital systems, favorable government initiatives encouraging the use of telehealth, and high awareness of the advantages and conveniences of telehealth are all contributing factors to this substantial market share.
Competitive Landscape
Major players operating in the Europe Telehealth Market include Koninklijke Philips NV, GE Healthcare, Siemens Healthineers, Medtronic, Teladoc Health Inc., Oracle, Roche, Comarch SA, Mobile Medical Technologies LLC, and Health Telematic Network Srl. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Europe Telehealth Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Europe Telehealth Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Contact Us:
BlueWeave Research Blog
Phone No: +1 866 658 6826
Email: info@blueweaveconsulting.com
