Europe Telemedicine Market Insights Forecasts to 2032

• The Europe Telemedicine Market was valued at USD 21.37 Billion in 2022.
• The Market is growing at a CAGR of 16.5% from 2022 to 2032.
• The Europe Telemedicine Market is expected to reach USD 98.97 Billion by 2032.

The Europe Telemedicine Market size was valued at USD 21.37 billion in 2022. The Europe Telemedicine Market is projected to exceed USD 98.97 billion by 2032, growing at a CAGR of 16.5% from 2022 to 2032. The rising prevalence of chronic disease, as well as the growing trend of digital health, rising healthcare expenditure, and an increasing preference for remote patient management, are propelling the European telemedicine market forward. 

Market Overview

Telemedicine provides healthcare services to patients via technology such as video conferencing, phone calls, and text messages. It enables patients to share information or vitals with their healthcare providers from remote locations, allowing them to interact more frequently than in the traditional healthcare system. Telemedicine has demonstrated its ability to improve the management of chronic illnesses such as asthma, cancer, arthritis, and cardiac ailments. Telemedicine has the potential to be extremely beneficial in medical situations where a patient needs immediate treatment. These are some of the factors propelling the telemedicine market forward.

Report Coverage

This research report categorizes the market for Europe Telemedicine 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 Telemedicine 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-segment of the Europe Telemedicine market.

Driving Factors

The European telemedicine industry is thriving as a result of the aggressive use of emerging technologies such as the IoT (Internet of Things). Given the market's growth prospects in Europe, telemedicine device manufacturers are constantly innovating telehealth products powered by Artificial Intelligence (AI), Virtual Reality (VR), and other technologies, thereby driving the market growth. The availability of technologically improved home care gadgets, which allow patients to share vitals with their healthcare professionals and seek assistance in real time, is further boosting market expansion. Advanced home care devices also enable continuous patient data updates on a cloud server, allowing clinicians to see their patients' data at any time. These advances are encouraging consumers to use telemedicine services, consequently propelling and marking the expansion of the European telemedicine business as a whole.

Restraining Factors

The use of video conferencing or phone calls to deliver healthcare services raises concerns about the authenticity of the service providers. The risk of fraud or scams is unavoidable, and it affects both patients and healthcare providers. Documents can be forged, and scammers masquerading as service providers can harm the telemedicine market's overall reputation. The risk of cybercrime is high because impersonating scammers may use private and payment information to commit fraud.

Market Segment 

The Europe Telemedicine Market share is segmented into service and application.

• The tele-monitoring segment is expected to grow at the fastest pace in the Europe telemedicine market during the forecast period.      

Based on the service, the Europe telemedicine market is segmented into tele-monitoring, store-and-forward, and real-time interactive. Among these, the tele-monitoring segment is expected to grow at the fastest pace in the Europe telemedicine market during the forecast period. It enables a larger population to obtain healthcare services remotely and at a low cost. People prefer Tele-Monitoring over other options such as 'Store-and-Forward' or 'Real-Time Interactive' because it allows patients and healthcare providers to interact with each other and track their health more conveniently.       

• The tele-radiology segment accounted for the largest share of the Europe telemedicine market.      

Based on the application, the Europe telemedicine market is classified into tele-cardiology, tele-radiology, tele-pathology, tele-dermatology, tele-numerology, emergency care, and home health. Among these, the tele-radiology segment accounted for the largest share of the Europe telemedicine market. Tele-Radiology has the largest market share and is expected to keep its lead throughout the forecast period. Patients and physicians can communicate and collaborate in real time because of tele-radiology. It also enables patients to send an X-ray or CT scan to a doctor without visiting a clinic.   

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe telemedicine 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

• AMD Global Telemedicine
• Phillips Healthcare
• Mckesson Corp
• Honeywell Lifesciences
• Cerner Corporation
• GE Healthcare
• Medtronic, Inc.
• Cisco Systems Inc.
• CardioCom
• Aerotel Medical Systems
• Polycom, Inc.
• SHL Telemedicine
• InTouch Technologies
• IBM Corporation
• Biotelemetry
• All Scripts Healthcare Solutions Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments:

• In March 2021, PlusDental, a Berlin-based health tech company, received a whopping USD 40 million in funding from international investors. This generous sum will assist PlusDental, a telemedicine start-up, in accelerating their company's entry into the European market and further developing their online dental treatment services.

Market Segment

This study forecasts revenue at, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Europe Telemedicine Market based on the below-mentioned segments:

Europe Telemedicine Market, By Service

• Tele-Monitoring
• Store-and-Forward
• Real-Time Interactive

Europe Telemedicine Market, By Technology

• Hardware
• Software
• Telecommunications

Europe Telemedicine Market, By Application

• Tele-Cardiology
• Tele-Radiology
• Tele-Pathology
• Tele-Dermatology
• Tele-Numerology
• Emergency Care
• Home Health

Europe Telemedicine Market, By End User

• Tele-Hospitals
• Tele-Homes

Europe Telemedicine Market, By Country

• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe