Various government initiatives for promoting digital health will boost industry growth in the future. For instance, European Commission had launched a public consultation project to gain input from various participants of digital health industry to promote digital health innovations and care for European citizens. The inputs from patients, healthcare professionals, investors, and insurers were included in the digital health policy and brought into practice post 2017, thereby fostering business growth. According to the Graphical Research new growth forecast report titled “Europe Digital Health Market Size By Technology [Tele-healthcare, mHealth, Health Analytics, Digital Health System], Country Outlook (Germany, UK, France, Spain, Italy, Russia, Poland, Switzerland, The Netherlands, Sweden), Industry Report, Growth Analysis & Forecast, 2018 – 2025”, estimated to exceed USD 172.6 billion by 2025 —
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In the European region, digital health market is gaining momentum with mobile applications being widely used for improving health and lifestyle. A number of mhealth apps for patients and doctors for the management of diseases, and the growing need for health improvements are constantly being developed in this region. High market penetration of technically advanced digital health devices and the existence of favorable government initiatives is expected to drive digital health market during the forecast period.
However, high capital expenditure for maintaining digital health network and security concerns for critical patient data can impede Europe digital health market growth in the upcoming years.
Europe mHealth market is forecasted to expand at 38.7% CAGR over the forecast timeframe. Launch of new mHealth applications along with increasing demand for healthcare information systems will boost business growth in the future. Presence of well-established telecommunications network and increasing number of smart phone and tablet users will further increase demand for mhealth solutions over the forecast period.
Europe digital health systems market accounted for 16.5 billion in 2018. There is an increasing and continuous access to internet services in European countries that assists in easy and widespread adoption of electronic health record platforms. Growing expenditure on information technology in healthcare should also be a major factor that will further accelerate the deployment of electronic health records that will be conducive to business growth.
UK digital health market is estimated to grow at 29.6% CAGR and will foresee robust growth in the coming years. UK is an attractive country for app developers, with high levels of digital knowledge and quick adoption, and presence of number of mHealth app companies in this region drives the digital health market in UK. Moreover, various government and private institutional initiatives are paving growth path for digital health market.
Major market players in Europe digital health market are McKesson Corporation, LifeWatch AG, Philips Healthcare, Cisco Systems and Cerner Corporation. Firms are adopting various strategies to enhance their market foothold and revenue stream. For instance, in September 2017, Cisco announced the acquisition of Springpath, Inc. The acquisition was envisioned with an aim to continue to deliver next-generation data center innovation to the customers.
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Chapter 1. Methodology
1.1. Definition and forecast parameters
1.1.2. Methodology and forecast parameters
1.2. Data sources
1.3. References & sources
Chapter 2. Executive Summary
2.1. Europe digital health industry summay, 2014 – 2025
2.1.1. Country trends
2.1.2. Technology trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry outlook, 2014 - 2025
3.3. Major factor analysis
184.108.40.206. Government and private institution initiatives
220.127.116.11. Increasing use of smartphones, tablets, and other mobile platforms
18.104.22.168. Rapidly improving healthcare IT infrastructure in industrialized nations
22.214.171.124. Favorable government initiatives in Europe.
126.96.36.199. Rising demand for remote patient monitoring services
3.3.2. Restraints & challenges
188.8.131.52. Security concerns regarding patient data
184.108.40.206. High capital expenditure and maintenance requirement
3.4. Regulatory landscape
3.5. Technology landscape
3.6. Porter’s analysis
3.7. Competition review, 2017
3.8. PEST analysis
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