Europe HealthTech Market Share, Growth Drivers, Revenue, Trends, Key Players, Challenges and Future Investment Strategies till 2023-2033: SPER Market Research

Information and communication technologies (ICTs) are used by digital health services and applications to help prevent, diagnose, treat, monitor, and manage health-related problems as well as track and manage bad lifestyle choices.

According to SPER market research, Europe Digital Health Market Size- By Component, By Technology – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Digital Health Market is predicted to reach USD 217.52 billion by 2033 with a CAGR of 18.01%.

The surge in healthcare costs is driving the adoption of cost-effective digital health solutions for efficient healthcare delivery. The growth is fuelled by the rising prevalence of chronic diseases and the expanding elderly population requiring continuous specialized care. Government initiatives promoting technology integration, coupled with widespread smartphone and internet usage, boost remote healthcare services. The demand for personalized healthcare, driven by a focus on patient-centric care and preventive measures, reinforces market expansion. Increased investments, collaborations between healthcare and tech entities, and the integration of big data analytics and artificial intelligence enhance diagnostic and treatment capabilities. The emphasis on eco-friendly practices, digital health acceptance among professionals, and a shift towards value-based care also contribute to market growth.

Conversely, it is anticipated that concerns about privacy and data security would have a detrimental effect on the expansion of the digital health business in Europe. Data recorded in medical records could be misused by hackers. Also, it is anticipated that the public’s ignorance of health-related applications, the high expenses of software development, and a shortage of qualified personnel will slow the market’s rate of expansion throughout the course of the projection period.

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Impact of COVID-19 on Europe Digital Health Market

The COVID-19 pandemic in Europe has increased the need for digital healthcare systems, turning them from a luxury into an essential. These systems are essential for remote communication, monitoring, surveillance, and effective healthcare management, which includes the key vaccination rollout. The adoption of telecommunication platforms and virtual health consultations has been further accelerated by government-imposed restrictions, lockdowns, and the terror that the pandemic has brought about. Technological developments in cybersecurity and the incorporation of digital health tools such as telemedicine, mHealth, and enhanced diagnostics have grown significantly. The growing digital health business both during and after the pandemic is largely due to government policies that support virtual healthcare services.

Germany dominates the market with its largest revenue share due to widespread internet and smartphone use, along with a rising number of consumers engaging in remote digital health services. In the U.K., factors such as a growing geriatric population, lifestyle changes, and increased cases of chronic diseases contribute to the adoption of digital health solutions. Spain is projected to experience the fastest growth, driven by a surge in digital health startups and robust government initiatives promoting remote healthcare services. Manufacturers collaborating with governments to invest in patient engagement solutions, remote monitoring, and medical video conferencing platforms further propel regional market growth.

Europe HealthTech Market Key Players:

Additionally, some of the market key players are Airstrip Technologies, Apple, Inc., Cerner Corporation, Cisco Systems Inc., Computer Programs and Systems, Inc., IBM Corporation, McKesson Corporation, Samsung Electronics Co. Ltd, Vodafone Group, Others.

Europe Digital Health Market Segmentation:

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

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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Europe HealthTech Market Forecast

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