According to Meticulous Research’s latest report, titled “Europe Telehealth Market by Component, Application, and End User – Forecast to 2030”, the telehealth market in Europe is poised for substantial growth, expanding at a CAGR of 18.2% between 2024 and 2030, reaching an impressive market size of $151.01 billion by the end of the forecast period. This growth is driven by several factors, including governmental efforts to digitalize healthcare systems and cut down on escalating healthcare costs, alongside a rising demand for healthcare services to address Europe’s aging population and the increasing prevalence of chronic conditions such as diabetes and heart disease.
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As the telehealth industry continues to evolve, technological innovations, including the use of AI, virtual assistants, and telerobotics, are expected to offer new opportunities for market expansion. Nonetheless, the industry faces challenges related to patient privacy and confidentiality, reluctance from some healthcare providers to switch to digital platforms, and the risk of misdiagnoses.
Industry Leaders
Several companies are leading the charge in the European telehealth market, including well-established names such as Aerotel Medical Systems Ltd., Medtronic Public Limited Company, Koninklijke Philips N.V., and Siemens Healthineers AG. Other notable players include Teladoc Health, TeleClinic, jameda GmbH, Zava, Kry International AB, and Doctolib.
Market Segmentation
The European telehealth market is divided into distinct categories based on Component, Application, End User, and Geographical Region.
Component:
- Services, including real-time consultations, remote patient monitoring, and store-and-forward technologies.
- Hardware, such as peripheral medical devices and telemedicine carts.
- Software solutions, both cloud-based and on-premise.
The Services segment is anticipated to dominate the market in 2024, driven by growing reliance on teleconsultation and telemonitoring services to manage chronic health issues and aging populations.
Application: Key applications of telehealth include Psychiatry, Radiology, Cardiology, and Primary Care. Psychiatry is expected to lead the market in 2024, largely due to the growing demand for mental health services across Europe, a region where mental health conditions are becoming increasingly prevalent.
End User: Healthcare Providers are projected to account for the largest share of the market by 2024. The increasing need for accessible healthcare services, combined with widespread staffing shortages across Europe’s healthcare systems, will likely drive this trend.
Regional Analysis
Geographically, Germany is expected to be the largest market for telehealth in Europe by 2024. Government initiatives promoting telehealth, coupled with rising healthcare expenditures and a growing geriatric population, have positioned Germany as a key player in this sector.
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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