Europe Digital Health Market: Industry Insights By Technology and Region

The Europe digital health market size was valued at USD 39.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 27.1% from 2022 to 2030.

The Europe Digital Health Market size is expected to reach USD 323.4 billion by 2030 and is expected to expand at a CAGR of 27.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing aging population, rise in prevalence of chronic disorders in Europe, and growing demand for remote patient monitoring are among the major factors driving the market growth in this region. In addition, improved IT infrastructure, growing digitalization of healthcare, and rising medical expenses are also anticipated to accelerate the market growth over the forecast period. Moreover, the shortage of healthcare professionals and overburdened healthcare facilities are also expected to increase the adoption of digital health platforms.

The mHealth technology segment held the dominant revenue share of 34.4% in 2021, owing to growing internet and smartphone penetration in Europe and increasing adoption of mHealth platforms by medical professionals for better patient engagement. In addition, the rise in government initiatives for the promotion and development of mHealth platforms also supports the high growth of the segment. For instance, in 2017, the mHealth hub program was initiated with the financial support of WHO-ITU and co-funded by the European Commission in Europe, to support different regions and countries in setting up large-scale programs for the integration of mHealth in the healthcare systems.

By component, the services segment dominated the market in 2021 with a revenue share of 63.7%, owing to the growing preference for healthcare platform upgrade services for better patient engagements in remote locations. In addition, training, staffing, maintenance, and resource allocation for pre and post-installation of digital platforms to provide better remote healthcare services also support the high growth of the segment. However, the software segment is anticipated to register the highest growth rate during forecast years owing to the rapid adoption of healthcare applications and increase in the development of improved technical advanced software for health management.

The demand for digital health platforms has increased due to the emergence of the COVID-19 pandemic. The fear of coronavirus infection decreased the in-person health consultation and increased the demand for virtual healthcare services which in turn favor the growth of the market over the forecast years. In addition, increasing demand for mobile health platforms among the medical professionals and the patients due to the lockdown and shutdown impact and staff shortage concerns during the COVID-19 pandemic also driving the market growth in 2020 and forecast years. The COVID-19 pandemic also creates immense opportunities for the market players to develop improved digital health platforms due to the surge in demand for mHealth applications, healthcare IT systems, virtual care, wearables, and telehealth, which in turn anticipated to fuel the market growth in this period.

Related Press Release@ Europe Digital Health Market Report

Europe Digital Health Market Report Highlights

• The market size is anticipated to be valued at USD 323.4 billion by 2030, owing to the increasing aging population, rise in prevalence of chronic disorders, and growing demand for remote patient monitoring
• The mHealth segment dominated the market in 2021 with a revenue share of 34.4%, due to growing internet and smartphone penetration and increasing adoption of mHealth platforms by the medical professionals for better patient engagement
• The services segment held the dominant revenue share of 63.7% in 2021, owing to the growing preference for healthcare platform upgrade services for better patient engagements in remote locations

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