Europe Telemedicine
Market Overview:
The European telemedicine market was
estimated at USD 10,278 million
in 2018 and is expected to reach USD 28,170 million by 2025 at a compound annual rate of 15%over the 2018-2025
forecast period.
Drivers, Challenges and
Opportunities:
The main factors responsible for the growth of the European
telemedicine market include the evolution of socio-economic factors, which
represent the highest percentage of the digital literacy population, compared
to other favorable geographies and policies. The main drivers of the market
include increased incidence of chronic diseases and increasing demand for
self-care. In addition, improvements in Internet application, virtual medicine,
and the growing demand for centralized medical care are expected to reduce
costs, which is one of the key success factors that drive growth of the regional
market. In addition, these factors should stimulate the growth of the European
telemedicine market over the forecast period.
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However, some factors are hampering the market and should
halt growth in the future, such as the requirement for high initial capital,
cases of inadequate implementation of telemedicine, inappropriate reimbursement
policies and lack of work qualified.
Moreover, technological improvements to improve health
services are expected to open up new growth opportunities for the telemedicine
market in Europe in the years to follow.
Market Segmentation:
The Europe telemedicine market is segmented by type of service,
technology and application. These services are offered in the form of tele
homes and telehospital/teleclinics. The Tele hospital segment dominates the
market, while Tele home services are growing at a faster pace. Based on
technology, the market is segmented into telecommunications, software, hardware
and networks. Telemedicine has a wide range of applications, including
telecardiology, telepathology, teleradiology, telepsychiatry and other areas.
The telecardiology market is growing faster due to the increasing incidence of
heart disease.
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Geographic Segmentation:
The European telemedicine market is analyzed in various
regions, namely Germany, the United Kingdom and France. Europe represents the
important part of the global market. In the EU Member States, more than four
out of five young people aged between 16 and 29 used a computer daily in 2015.
A lifelong learning strategy for 2020, which includes establishing the
necessary infrastructure to ensure that all schools have access to technology
and the Internet as a prerequisite for digital learning. The European Union has
begun promoting the use of telemedicine to improve access to medical care while
saving resources.
The market is made up of some of the major players and these
are focused on technological breakthroughs to gain the largest market share. The
market has seen large-scale technological developments in recent years. The
integration of services such as EMRs, image communication systems (PACS),
telehealth services, RFID, etc., is becoming increasingly important in Europe.
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