Europe HealthTech Market Share, Trends, Revenue, Demand, CAGR Status, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033


Europe HealthTech Market Share, Trends, Revenue, Demand, CAGR Status, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research

 Category : Healthcare

 Published: Dec-2023
 Author: SPER Analyst

Europe Digital Health Market is projected to be worth USD 217.52 billion by 2033 and is anticipated to surge at a CAGR of 18.01%.

The term "digital health" is an approach to modern medicine that makes use of technology to improve the administration, monitoring, and provision of medical treatment. It includes mobile health applications, wearable technology, electronic health records (EHR), telemedicine, and healthcare information systems. Digital health makes use of a range of technologies, including big data analytics, cloud computing, artificial intelligence (AI), and the Internet of Things (IoT), to improve the efficiency and personalisation of healthcare.

Europe Digital Health Market Driving Factors and Challenges
The rising healthcare expenses in the region are propelling the adoption of digital health as a cost-effective and efficient solution for healthcare delivery. The increasing prevalence of chronic diseases and the expanding elderly population in need of continuous specialized care further contribute to the growth. Government initiatives promoting technology integration in healthcare, coupled with the widespread use of smartphones and internet services, enable remote healthcare delivery and stimulate market expansion. The demand for personalized healthcare solutions driven by a focus on patient-centric care and preventive measures also supports market growth. 

Increased investments in healthcare technology, infrastructure, and collaborations between healthcare providers and tech companies contribute to the positive trajectory. Additionally, the incorporation of big data analytics and artificial intelligence in healthcare enhances diagnostic, treatment, and research capabilities. The emphasis on eco-friendly healthcare practices and the growing acceptance of digital health among professionals further drive market growth, along with technological innovations, the availability of skilled professionals, and a shift towards value-based care.

The expansion of the digital health business in Europe, however, is anticipated to be adversely impacted by concerns about data security and privacy. The information kept in medical records could be misused by hackers. In addition, the market's growth rate is anticipated to be hampered throughout the forecast period by the high expenses of software development, a shortage of qualified personnel, and a lack of public awareness of health-related apps.

Impact of COVID-19 on Europe Digital Health Market
The need for digital healthcare platforms has increased due to the COVID-19 pandemic in Europe, moving them from a convenience to an essential requirement. These platforms are essential for monitoring, surveillance, and remote communication as well as for the effective administration of healthcare, particularly the key vaccine rollout. The adoption of virtual health consultations and telecommunication platforms has been further accelerated by government-imposed limitations, lockdowns, and the dread that comes with a pandemic. Cybersecurity protocol improvements and the incorporation of digital health solutions like as telemedicine, enhanced diagnostics, and mHealth have grown significantly. Both before and after the pandemic, government programmes supporting virtual healthcare services have a major impact on the growing digital health business.

Europe Digital Health Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Airstrip Technologies, Apple, Inc., Cerner Corporation, Cisco Systems Inc., Computer Programs and Systems, Inc., Epic Systems Corporation, Google, Inc., IBM Corporation, McKesson Corporation, Samsung Electronics Co. Ltd, Vodafone Group, Others.

Europe Digital Health Market Segmentation:

By Component: Based on the Component, Europe Digital Health Market is segmented as; Hardware, Services, Software.

By Technology: Based on the Technology, Europe Digital Health Market is segmented as; Digital Health Systems (HER, E-Prescribing Systems), Healthcare Analytics, mHealth Apps (Fitness Apps, Medical Apps), mHealth Wearables (Activity Trackers/ Actigraphs, BP Monitors, Glucose Meters, Neurological Monitors, Pulse Oximeters, Sleep Apnea Monitors), Tele-healthcare (Tele-care, Telehealth).

By Region: This research also includes data for U.K., Germany, France, Italy, Spain, Russia and rest of Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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