Meticulous Research, a prominent global market research firm, has released a report titled 'Europe Telehealth Market by Component (Hardware, Software, Services), Application (Radiology, Cardiology, Psychiatry), End User (Provider, Payer) - Forecast to 2030.'

According to this publication, the European telehealth market is anticipated to grow at a compound annual growth rate (CAGR) of 18.2% from 2023, aiming to reach $151.01 billion by 2030. Factors driving this growth include increased governmental support for digital healthcare systems, cost reduction initiatives, a rising elderly population, and the prevalence of chronic diseases. The market also stands to benefit from advancements in artificial intelligence, virtual assistants, and telerobots, offering substantial growth opportunities. Challenges such as patient privacy concerns, resistance to adopting new systems, and instances of misdiagnosis may hinder market expansion.

Key Players

Major players in the European telehealth market include Aerotel Medical Systems (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), Fernarzt (U.K.), Doctolib (France), Cegedim SA (France), Medaviz (France), and HealthHero (U.K.).

Europe Telehealth Market: Future Outlook

The Europe telehealth market is categorized based on Component types such as Services (Real-time/Synchronous, Store-and-forward/Asynchronous, Remote Patient Monitoring), Hardware (Medical Peripheral Devices including Blood Glucose Monitors, Blood Pressure Monitors, Weighing Scales, Pulse Oximeters, Peak Flow Meters, ECG Monitors, and other medical peripherals, as well as Monitors, Telemedicine Kiosks, Telemedicine Carts), and Software (Web & Cloud-based Software, On-premise Software). It is further segmented by Application, including Psychiatry, Radiology, Cardiology, Primary Care, Dermatology, Remote ICU, and Other Applications. End users encompass Healthcare Providers, Patients, Healthcare Payers, and Other End Users. The analysis extends to evaluating market dynamics and competitive landscapes across various countries within Europe.

Among the components included in this report, in 2023, the services segment is projected to dominate the market, primarily driven by extensive utilization of telehealth services for teleconsultation and telemonitoring, addressing the substantial challenges posed by an aging population and prevalent chronic diseases. Additionally, the segment's growth is supported by increasing efforts to lower healthcare expenditures and enhance healthcare effectiveness.

Among the applications included in this report, in 2023, the psychiatry segment is anticipated to hold the largest market share, driven by rising demand for consultations and treatments to address the expanding prevalence of mental health and psychiatric conditions. This demand is exacerbated by a shortage of primary psychiatric care providers. According to the World Health Organization (WHO), as of 2021, more than 150 million individuals in the WHO European Region were affected by mental health disorders, with only one in three people with depression receiving adequate care. Consequently, the demand for telehealth services in psychiatry is increasing across Europe.

Among the end users included in this report, in 2023, the healthcare providers segment is projected to hold the largest market share, driven by increasing demand for accessible healthcare services and the persistent shortage of healthcare professionals. According to EURACTIV MEDIA NETWORK BV (Netherlands), protests in Rome, Italy in 2021 highlighted a severe shortage of staff in emergency departments, underscoring a crisis involving approximately 4,000 nurses and doctors amid challenging working conditions. Similarly, in Germany, as reported by BR24 NEWSLETTER in 2021, there were approximately 8,000 vacant positions in intensive care units, resulting in a shortage where one out of every eight specialist positions in Italy remained unfilled. Additionally, about 14,000 registered nurse positions across the country's hospital wards were left vacant.

Geographic Review

This study offers a thorough examination of the European market, covering key countries such as Germany, France, the U.K., Italy, Spain, Benelux, Nordics, and other regions. In 2023, Germany is projected to dominate the Europe telehealth market, primarily due to several factors. These include the widespread adoption of telehealth services, a rising elderly population, governmental initiatives promoting telehealth adoption, increased healthcare spending, a growing prevalence of chronic diseases, shortages in healthcare workforce, and the presence of major industry players within the country.

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Key questions answered in the report-

·  Which segments show high growth in terms of component, application, end user, and country?

·  What was the historical telehealth market performance across Europe?

·  What are the market forecasts and projections for 2023–2030?

·  What are the main drivers, challenges, opportunities, and constraints in the European telehealth market?

·  Who are the leading players in the telehealth sector?

·  How competitive is the landscape in Europe's telehealth market, and who are the market frontrunners?

·  What recent developments have occurred in the European telehealth market?

·  What strategies have major players adopted in Europe's telehealth sector?

·  What geographical trends and countries are experiencing significant growth?

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