Europe Telehealth Market to be Worth $151.01 Billion by 2030

Meticulous Research- a leading global market research company, published a research report titled, 'Europe Telehealth Market by Component [Hardware (Peripheral Devices, Monitor), Software (Cloud, On-premise), Services (Real-time, Remote Monitoring)], Application (Radiology, Cardiology, Psychiatry), End User (Provider, Payer) - Forecast to 2030.'

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According to this latest publication from Meticulous Research, the Europe telehealth market is projected to grow at a CAGR of 18.2% from 2023 to reach $151.01 billion by 2030. Factors such as the increasing government support in digitalizing healthcare systems and reducing healthcare costs, the growing geriatric population, and the increasing prevalence of chronic diseases are driving the growth of this market. In addition, the increasing use of artificial intelligence & virtual assistants and the development of telerobots are expected to provide significant market growth opportunities. However, patient privacy & confidentiality issues may restrain the growth of this market. Additionally, reluctance to transition from traditional systems and instances of misdiagnosis may present challenges for market players.

Key Players

The key players operating in the Europe telehealth market include Aerotel Medical Systems (1998) Ltd. (Israel), Cerner Corporation (U.S.), Medtronic Public Limited Company (Ireland), Koninklijke Philips N.V. (Netherlands), AMD Global Telemedicine, Inc. (U.S.), American Well Corporation (U.S.), Cisco Systems, Inc. (U.S.), Siemens Healthineers AG (Germany), Teladoc Health, Inc. (U.S.), TeleClinic (Germany), jameda GmbH (Germany), Zava (U.K.), Kry International AB (Sweden), kinderarztNOW (Germany), and Fernarzt (U.K.), Doctolib (France), Cegedim SA (France), Medaviz (France), and HealthHero (U.K.).

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Europe Telehealth Market: Future Outlook

The Europe telehealth market is segmented by Component {Services [Real-time (Synchronous), Store-and-forward (Asynchronous), Remote Patient Monitoring], Hardware [Medical Peripheral Devices (Blood Glucose Monitors, Blood Pressure Monitors, Weighing Scales, Pulse Oximeters, Peak Flow Meters, ECG Monitors, Other Medical Peripheral Devices), Monitors, Telemedicine Kiosks, Telemedicine Carts], Software [Web & Cloud-based Software, On-premise Software]}, Application {Psychiatry, Radiology, Cardiology, Primary Care, Dermatology, Remote ICU, and Other Applications}, End User {Healthcare Providers, Patients, Healthcare Payers, and Other End Users}, and Country. The study also evaluates industry competitors and analyzes the market at the country level.

Among the components included in this report, in 2023, the services segment is expected to account for the largest share of the market. The significant market share of this segment is attributed to the high usage of telehealth services for teleconsultation and telemonitoring due to the high burden of the geriatric population and chronic diseases. Furthermore, the growing need to reduce healthcare costs and improve healthcare outcomes contributes to the growth of this segment.

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Among the applications included in this report, in 2023, the psychiatry segment is expected to account for the largest share of the market. The significant market share of this segment is attributed to the increasing demand for consultations and treatments for the growing mental health and psychiatric issues, coupled with a shortage of primary psychiatric care. According to the World Health Organization (WHO), in 2021, over 150 million people in the WHO European Region were living with mental health conditions, and only one in three individuals with depression received the necessary care. Therefore, the need for telehealth services in psychiatry is rising in Europe.

Among the end users included in this report, in 2023, the healthcare providers segment is expected to account for the largest market share. The significant market share of this segment is attributed to the increasing demand for convenient healthcare services and the shortage of medical professionals. According to data from EURACTIV MEDIA NETWORK BV (Netherlands), in 2021, nurses and doctors in Rome, Italy, protested against the severe shortage of staff in emergency departments, with the healthcare sector facing a crisis of approximately 4,000 nurses and doctors, along with poor working conditions. Similarly, in Germany, BR24 NEWSLETTER reported that in 2021, there were 8,000 vacant positions in intensive care units, which means that one out of every eight specialist positions in Italy could not be filled. Additionally, approximately 14,000 positions for registered nurses in hospitals remained unfilled in wards across the country.

Geographic Review

This research report provides a comprehensive analysis of the market in Europe (Germany, France, the U.K., Italy, Spain, Benelux, Nordics, and Rest of Europe). In 2023, Germany is expected to account for the largest share of the Europe telehealth market. This significant market share can be attributed to several factors, including the increasing adoption of telehealth services, a growing geriatric population, government initiatives promoting telehealth utilization, rising healthcare expenditure, a growing number of individuals with chronic illnesses, a shortage of healthcare professionals, and the presence of key market players in the country.

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Key questions answered in the report-

1 Which are the high-growth market segments in terms of component, application, end user, and country?
2 What was the historical market for telehealth across Europe?
3 What are the market forecasts and estimates for the period 2023-2030?
4 What are the major drivers, restraints, opportunities, and challenges in the Europe telehealth market?
5 Who are the major players in the telehealth market?
6 How is the competitive landscape, and who are the market leaders in the Europe telehealth market?
7 What are the recent developments in the Europe telehealth market?
8 What are the different strategies adopted by major players in the Europe telehealth market?
9 What are the geographical trends and high-growth countries?

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