Europe Digital Health Market Insights Forecasts to 2032
- The Europe Digital Health Market Size was valued at USD 18.6 Billion in 2022.
- The Market Size is Growing at a CAGR of 4.7% from 2022 to 2032.
- The Europe Digital Health Market Size is expected to reach USD 29.5 Billion by 2032.
- Europe is expected to grow the fastest during the forecast period.
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The Europe Digital Health Market Size is expected to reach USD 29.5 Billion by 2032, at a CAGR of 4.7% during the forecast period 2022 to 2032.
Digital Health is a revolutionary system of healthcare that uses technology to complement, streamline, and reinvent health and wellness management. This ever-changing industry covers a diverse set of digital technologies, software, and services that are geared toward improving healthcare outcomes, increasing patient engagement, and optimizing medical operations. Telemedicine and telehealth services have grown in popularity in recent years. They enable patients to consult with healthcare professionals online, thereby boosting access to healthcare, especially in underdeveloped or remote areas. Wearable devices and health apps have also become prevalent allowing people to track key parameters such as heart rate, sleep habits, and physical activity. These technologies enable patients to take a proactive part in their health and well-being management. Wearable gadgets and health monitoring applications are becoming increasingly important in chronic illness management and preventive care as Europe's aging population. These technologies enable prompt interventions and tailored care plans, which are critical for improving quality of life. Furthermore, European healthcare institutions are rapidly embracing AI and big data analytics to improve diagnosis, treatment planning, and resource allocation.
This research report categorizes the market for Europe Digital Health Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe Digital Health Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Europe Digital Health Market.
Europe Digital Health Market Report Coverage
|Market Size in 2022:||USD 18.6 Billion|
|Forecast Period 2022-2032 CAGR:||4.7%|
|2032 Value Projection:||USD 29.5 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Component, By Technology, By Country and COVID-19 Impact Analysis|
|Companies Covered:||HiMS, Orange, Softserve, AT&T, Vodafone Group, Airstrip Technologies, Google, Inc., MQure, IBM Corporation, Cisco Systems Inc., Cerner Corporation, Allscripts, Apple, Inc., Telefonica S.A., McKesson Corporation, Epic Systems Corporation, and Other Market Players.|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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Europe's Digital Health market demonstrates the region's dedication to integrating innovative technology with healthcare while addressing the region's distinct demographic and regulatory settings. In Europe, digital health refers to a wide range of digital technology and apps aimed at improving patient care, optimizing health operations, and encouraging wellness across various populations. The broad use of Electronic Health Records (EHRs) and Health Information Exchange (HIE) systems is a critical component of the digital health market in Europe. These digital platforms enable the easy sharing of patient data among healthcare providers, improving care coordination and eliminating test and treatment duplication. Telemedicine has gained popularity throughout Europe, with nations such as Sweden and Estonia pioneering digital consultations and e-prescriptions. This enables a more decentralized healthcare strategy, which is especially advantageous for rural and remote regions. Furthermore, AI and machine learning have been used in a variety of healthcare applications, including medical imaging analysis, medication discovery, and predictive analytics. These technologies are propelling customized medicine and precision healthcare forward.
- In 2022, the service segment is expected to hold the largest share of Europe Digital Health market during the forecast period.
Based on the component, the Europe Digital Health Market is classified into hardware, software, and service. Among these, the service segment is expected to hold the largest share of the Europe Digital Health market during the forecast period. This is due to an increase in demand for tele-healthcare system maintenance, training, staffing, resource allocation, and optimization services. Marketplace companies are progressively focusing on delivering these types of services in order to maintain their dominant position in the market, which is expected to boost segment growth. The growing popularity of electronic health platforms, as well as increasing demands from consumers for superior products and services, are likely to continue growing the segment's market penetration.
- In 2022, the mHealth segment accounted for the largest revenue share of more than 42.3% over the forecast period.
On the basis of technology, the Europe Digital Health Market is segmented into tele-healthcare, mHealth, healthcare analytics, digital health systems, and others. Among these, the mHealth segment dominates the market with the highest revenue share of 42.3% over the forecast period. This is because of a surge in the prevalence of mHealth apps for medical, health, and wellness purposes, as well as a boost in the number of smartphone users. Additionally, the strong penetration of mobile healthcare applications and continuous mobile app enhancements with improved functionality by manufacturers boost growth. During the projection period, the healthcare analytics segment is expected to grow at the quickest rate.
The report offers the appropriate analysis of the key organizations/companies involved within the Europe Digital Health Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Vodafone Group
- Airstrip Technologies
- Google, Inc.
- IBM Corporation
- Cisco Systems Inc.
- Cerner Corporation
- Apple, Inc.
- Telefonica S.A.
- McKesson Corporation
- Epic Systems Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- On April 2023, Telefónica Tech and 3M have introduced a ground-breaking technical solution with predictive capabilities to optimize hospital emergency department (HED) administration and, ultimately, patient happiness. This solution assists healthcare workers in identifying areas for development in order to make better decisions.
- On July 2022, In the United Kingdom, Smith+Nephew released the Wound Compass Clinical Support App. The Wound Compass Clinical Support App is a complete digital support tool for healthcare practitioners that helps with wound assessment and decision-making in order to reduce practice variation.
This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the Europe Digital Health Market based on the below-mentioned segments:
Europe Digital Health Market, By Component
Europe Digital Health Market, By Technology
- Healthcare Analytics
- Digital Health Systems
Europe Digital Health Market, By Country
- Rest of Europe
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