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
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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