A new report from Meticulous Research titled “Europe Telehealth Market by Component, Application, and End User – Forecast to 2030” highlights significant growth prospects for the telehealth industry in Europe. The market, projected to reach $151.01 billion by 2030, is expected to grow at a CAGR of 18.2% between 2024 and 2030. The increasing integration of telehealth into healthcare systems is driven by governmental support for digitalization, cost reduction efforts, and the rising incidence of chronic diseases in Europe.
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The growing adoption of cutting-edge technologies such as AI, virtual healthcare assistants, and telerobotics presents new opportunities for market growth. However, there are challenges on the horizon, including concerns over patient privacy, reluctance from some medical professionals to embrace telehealth, and the risk of incorrect diagnoses made through remote consultations.
Leading Companies in the European Telehealth Sector
Key players shaping the European telehealth market include Aerotel Medical Systems Ltd., Cerner Corporation, Medtronic Public Limited Company, Koninklijke Philips N.V., AMD Global Telemedicine, Inc., Teladoc Health, Inc., TeleClinic, Zava, Doctolib, and Cegedim SA. These companies are investing heavily in innovations to address the needs of an aging population and the rising number of chronic disease cases.
Market Breakdown by Component and Application
The telehealth market is segmented by Component (Services, Hardware, Software) and Application (Psychiatry, Cardiology, Radiology, Primary Care, etc.).
The Services segment, which includes real-time consultations, remote patient monitoring, and store-and-forward systems, is predicted to hold the largest market share by 2024. The increasing demand for teleconsultation services is a key growth driver, particularly in areas with significant chronic disease burdens.
In terms of Application, Psychiatry is forecast to lead the market by 2024, driven by the rising prevalence of mental health disorders and the shortage of psychiatric professionals. Mental health care is a critical issue in Europe, with WHO estimating that over 150 million individuals in the region were living with mental health conditions in 2021.
End User Analysis
Among the different End Users, Healthcare Providers are expected to account for the largest share of the telehealth market by 2024. The shortage of medical professionals in several European countries, such as Italy and Germany, has increased the reliance on telehealth solutions to provide care.
Geographic Trends
In terms of geography, Germany is set to dominate the European telehealth market in 2024. A combination of factors, including an aging population, rising healthcare costs, and supportive government initiatives, has made Germany a leader in telehealth adoption. The shortage of healthcare workers is another driving factor, as telehealth offers a solution to alleviate the strain on the healthcare system.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/europe-telehealth-market-5638
Key questions answered in the report-
- Which are the high-growth market segments in terms of component, application, end user, and country?
- What was the historical market for telehealth across Europe?
- What are the market forecasts and estimates for the period 2024–2030?
- What are the major drivers, restraints, opportunities, and challenges in the Europe telehealth market?
- Who are the major players in the telehealth market?
- How is the competitive landscape, and who are the market leaders in the Europe telehealth market?
- What are the recent developments in the Europe telehealth market?
- What are the different strategies adopted by major players in the Europe telehealth market?
- What are the geographical trends and high-growth countries?
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