Europe Digital Health Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 81.86 Billion |
| Market Size (2029) | USD 188.20 Billion |
| CAGR (2024 - 2029) | 18.11 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Digital Health Market Analysis
The Europe Digital Health Market size is estimated at USD 81.86 billion in 2024, and is expected to reach USD 188.20 billion by 2029, growing at a CAGR of 18.11% during the forecast period (2024-2029).
The emergence of COVID-19 had a profound impact on the adoption of digital healthcare services in the region, as the lockdown restrictions and severity of infection encouraged healthcare providers and people to adopt digital health services. For instance, according to an article published in April 2021 by the Healthcare Information and Management Systems Society (HIMSS), the European Commission proposed the EU4Health program as part of a COVID-19 recovery response program. The initiative aimed to raise EUR 5.1 billion (USD 5.43 billion) for the digital transformation of the European health sector and ensure preparedness for future cross-border health threats. Thus, increasing investments by European governments toward the digital transformation of healthcare and COVID-19 contact tracing boosted the market growth during the pandemic. For instance, in January 2021, European telehealth company HealthHero acquired Ireland-based MyClinic.ie, allowing the former to have a direct-to-consumer offering in Ireland for COVID-19 care and other services. Thus, the COVID-19 outbreak increased the market's growth in its preliminary phase; and currently the market is expected to gain traction due to a significant increase in the use of digital health globally.
The rising adoption of digital healthcare services such as telemedicine, remote monitoring, electronic health record systems, and others by healthcare service providers is the major driving factor that is fueling growth in the Europe digital health market. The major benefits that are offered by digital health services are that healthcare services can be delivered in the remotest part of the region or country with the lowest cost when compared with traditional medical services or consultations, which is why digital health is gaining traction in the European Market. For instance, in October 2021 Cera Care revealed its plans for expansion in the United Kingdom, under which it will create 15 digital healthcare hubs across the United Kingdom to deliver telehealth and medication services - matching the capacity of 1,000 care homes every day.
Further, the rising adoption of digital health services and government initiatives, technological advancements in the area of digital health, and increasing demand for remote patient monitoring are among the major factors driving the growth of the studied market. For instance, in October 2021, the government proposed a EUR 650 million (USD 693 million) investment plan to speed up the country's digital health agenda. The funding will be divided into five areas: research and development, testing of digital health services, digital training for healthcare professionals, scientific innovation, and large-scale deployment of digital health in France and internationally.
Moreover, the increasing government initiatives and investments to modernize and digitize the healthcare system are also expected to fuel market growth. For instance, in October 2021, France's Health Minister invested EUR 650 million (USD 692 million) to accelerate the national digital health strategy, as part of the Health Innovation 2030 plan. Also, in June 2021, the NHS invested EUR 150 million (USD 159 million) in the digital adoption and digitization of adult social care in the United Kingdom. Digitalizing the health systems can provide clinicians with more timely access to accurate information and support changes to help improve health for all.
Data security concerns and high costs associated with the deployment and maintenance of digital health systems and services are likely to impede the market growth
Europe Digital Health Market Trends
The Telehealthcare Segment is Expected to Witness Growth Over the Forecast Period
Telehealthcare is the delivery of personalized and tailored healthcare services. The services are provided through digital information and communication technology such as computers and mobile devices in cities and through the internet in remote regions where healthcare facilities are not available. The telehealthcare segment is expected to grow owing to the factors such as increasing investment in telemedicine and remote monitoring services and technologies along with growing demand for telemedicine, increasing partnerships and acquisitions, and a growing geriatric population in the region.
For instance, in August 2021, Lemonaid Health expanded internationally with the launch of its services in the United Kingdom in partnership with Boots UK. Lemonaid Health provides online doctor visits with free, fast medicine delivery. The move into the United Kingdom represents the first international market for Lemonaid Health.
Further, telehealth helps in the analysis of big data and can provide hospitals with detailed information on vital health statistics of patients remotely, such as blood glucose levels, heart rates, and lab test results. Using machine learning and artificial intelligence, hospitals are now more capable of processing all this data to better inform their diagnoses and courses of treatment to their patients. For instance, in May 2021, CareNiva introduced its artificial intelligence telehealth platform to improve and enhance patient care, and the CareNivaLabs app, which allows clinicians to gather crucial data points to augment quality judgments made during patient visits, is available alongside the telehealth platform.
Germany is Expected to Dominate the Europe Digital Health Market
Germany is one of the major economies in the European region, with high healthcare expenditure and a technologically advanced healthcare system. The digital health market is expected to grow at a significant pace due to the increasing investment in digital health and government initiatives.
For instance, in July 2022, the European Investment Bank (EIB) supported the digital health specialist CompuGroup Medical with a loan of up to EUR 200 million (USD 213 million) for research, development, and innovation. The project will develop software solutions for healthcare providers and digital health platforms for the management of hospitals and medical practices in Germany and other European countries.
Further, the launch of new products and services, new investment in digital health by the government as well as private entities, mergers and acquisitions, and other business expansion activities are expected to fuel growth in the studied market in Germany.
Europe Digital Health Industry Overview
The Europe digital health market is highly competitive in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well known. Some of the key players in the Europe digital health market are Allscripts Healthcare Solutions Inc., Koninklijke Philips NV, International business Machinery Corporation (IBM), Cerner Corporation, and AMD Global Telemedicine Inc., among others.
Europe Digital Health Market Leaders
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Koninklijke Philips NV
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AMD Global Telemedicine Inc.
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Allscripts Healthcare Solutions Inc.
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International business Machinery Corporation (IBM)
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Cerner Corporation
*Disclaimer: Major Players sorted in no particular order
Europe Digital Health Market News
- April 2022: University College London (UCL) and Amazon Web Services (AWS) teamed up to build a digital innovation center at the IDEALondon technology hub. The center will assist healthcare and education organizations to accelerate digital innovation and address global concerns in their fields.
- July 2022: Smith+Nephew launched the Wound Compass Clinical Support App in the United Kingdom. The Wound Compass Clinical Support App is a comprehensive digital support tool for healthcare professionals that aids wound assessment and decision-making to help reduce practice variation.
Europe Digital Health Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 Rising Adoption of Digital Health Services and Government Initiatives
- 4.1.2 Technological Advancements in the Area of Digital Health
- 4.1.3 Increasing Demand of Remote Patient Monitoring
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4.2 Market Restraints
- 4.2.1 Cybersecurity Concerns for Patient Data
- 4.2.2 High Deployment and Maintenance Expenditure
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4.3 Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Buyers/Consumers
- 4.3.2 Bargaining Power of Suppliers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD Million)
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5.1 By Component
- 5.1.1 Hardware
- 5.1.2 Software
- 5.1.3 Other Components
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5.2 By Technology
- 5.2.1 Tele-healthcare
- 5.2.2 Mobile Health (mHealth)
- 5.2.2.1 Wearables
- 5.2.2.2 Apps
- 5.2.3 Health Analytics
- 5.2.4 Digital Health Systems
- 5.2.4.1 E-Health Records
- 5.2.4.2 E-Prescription
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5.3 By Mode of Delivery
- 5.3.1 On-premise Delivery
- 5.3.2 Cloud-based Delivery
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5.4 Geography
- 5.4.1 Germany
- 5.4.2 United Kingdom
- 5.4.3 France
- 5.4.4 Italy
- 5.4.5 Spain
- 5.4.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Allscripts Healthcare Solutions Inc.
- 6.1.2 International business Machinery Corporation (IBM)
- 6.1.3 AMD Global Telemedicine Inc.
- 6.1.4 Koninklijke Philips NV
- 6.1.5 Teladoc Health Inc. (InTouch Technologies Inc.)
- 6.1.6 Aerotel Medical Systems (1998) Ltd.
- 6.1.7 Cerner Corporation
- 6.1.8 eClinicalWorks
- 6.1.9 McKesson Corporation
- 6.1.10 Cisco Systems
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityEurope Digital Health Industry Segmentation
As per the scope of the report, digital health refers to tools and services that make use of information and communication technologies (ICTs) to improve the prevention, diagnosis, treatment, monitoring, and management of health-related disorders, as well as to track and manage unhealthy lifestyle choices. The Europe digital health market is segmented by Component (Hardware, Software, and Other Components), Technology (Telehealthcare, Mobile Health, Health Analytics, and Digital Health Systems), Mode of Delivery (On-premise Delivery and Cloud-based Delivery), and Geography (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The report offers the value (in USD million) for the above segments.
| By Component | Hardware | |
| Software | ||
| Other Components | ||
| By Technology | Tele-healthcare | |
| Mobile Health (mHealth) | Wearables | |
| Apps | ||
| Health Analytics | ||
| Digital Health Systems | E-Health Records | |
| E-Prescription | ||
| By Mode of Delivery | On-premise Delivery | |
| Cloud-based Delivery | ||
| Geography | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe |
Europe Digital Health Market Research FAQs
How big is the Europe Digital Health Market?
The Europe Digital Health Market size is expected to reach USD 81.86 billion in 2024 and grow at a CAGR of 18.11% to reach USD 188.20 billion by 2029.
What is the current Europe Digital Health Market size?
In 2024, the Europe Digital Health Market size is expected to reach USD 81.86 billion.
Who are the key players in Europe Digital Health Market?
Koninklijke Philips NV, AMD Global Telemedicine Inc., Allscripts Healthcare Solutions Inc., International business Machinery Corporation (IBM) and Cerner Corporation are the major companies operating in the Europe Digital Health Market.
What years does this Europe Digital Health Market cover, and what was the market size in 2023?
In 2023, the Europe Digital Health Market size was estimated at USD 69.31 billion. The report covers the Europe Digital Health Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Digital Health Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the challenges and opportunities for artificial intelligence (AI) in European Digital Health Market?
The challenges and opportunities for artificial intelligence (AI) in European Digital Health Market are a) Adoption hurdles b) Potential applications of AI in diagnostics and treatment c) Ethical considerations
Europe Digital Health Industry Report
The Europe digital health industry is witnessing remarkable growth, fueled by the rising prevalence of chronic diseases, an increased demand for remote patient monitoring, and the adoption of advanced technologies. This surge is supported by the high smartphone penetration and internet connectivity, enabling the widespread use of health apps and facilitating a shift towards virtual healthcare, telehealth, and mHealth platforms. These platforms offer the convenience of bridging the gap between patients and healthcare providers, with a growing demand for personalized healthcare solutions. The integration of AI, data analytics, and electronic health data systems is propelling the market, providing innovative solutions for clinical settings and remote care. Government initiatives and public-private partnerships are crucial in promoting these solutions, creating a conducive environment for market growth. The competitive landscape is dynamic, with players expanding their presence and enhancing service offerings. According to Mordor Intelligence™ Industry Reports, the market is poised for significant opportunities in healthcare delivery, patient outcomes, and innovation. For detailed statistics on market share, size, revenue growth rate, and a forecast outlook, access a free report PDF download on Europe Digital Health analysis.
