Report Overview

Europe Telemedicine Market- Industry Trends & Forecast Report 2027

European Telemedicine market was worth USD 14.85 Billion in 2020 and is further projected to reach USD 57.37Billion by 2027, at a CAGR of 21.30% during 2021-2027 (forecast period). The growing trend of digital health, rising healthcare expenditure, and an increasing preference for remote patient management, along with the rising prevalence of chronic disease are driving the European telemedicine market forward. Furthermore, the COVID-19 pandemic has fueled the increased use of telehealth, ensuring its continued market growth across Europe. Telemedicine also has the potential to reduce healthcare costs and provide patients with improved access to healthcare services. These are the few important factors that are driving people to shift from conventional healthcare to telemedicine. The same factors are likely to propel the growth of the Europe telemedicine market during the forecast period.

Europe Telemedicine Market - Overview

Telemedicine offers healthcare facilities to patients through the use of technology like video conferencing, phone calls, or text messages. It allows patients to share their information or vitals with their healthcare providers from remote locations and lets them interact more frequently as compared to the conventional healthcare system. Telemedicine has proved its competency in better management of chronic illnesses like asthma, cancer, arthritis, cardiac ailments, and so on. Telemedicine also has the potential to be extremely useful in medical conditions where a patient requires urgent treatment. These are a few factors driving the telemedicine market forward.

Europe Telemedicine Market Trends

Growth Drivers

Technological Advancements Driving the Growth

The Europe telemedicine industry is thriving due to the aggressive use of emerging technologies such as the IoT (Internet of Things). Considering the growth prospects of Europe Telemedicine market, the telemedicine device manufacturing companies are continually innovating telehealth products powered by Artificial Intelligence (AI), Virtual Reality (VR), and other technologies, thereby, driving the market growth.

The availability of technologically advanced home care devices, which enable patients to share their vitals with their healthcare providers and seek help in real-time, is also propelling the market growth. Advanced home care devices also allow patient data to be continuously updated on a cloud server, thus, allowing physicians to view their patients' data at any time. These innovations are encouraging people to opt for telemedicine services, thereby, pushing and marking the growth of the overall European telemedicine industry.

Digital Literacy Promoting the Growth of Telemedicine Market

The European population is more digitally advanced as compared to other regions in the world. The age demographic ranging from the underage population to the senior citizens who are under home care can more easily access healthcare facilities through telemedicine. It also lets physicians and specialists conveniently diagnose, treat, share reports and track their patient’s health on a regular basis without any hassle.These aspects are contributing significantly to the development of the European telemedicine industry.

Restraints

Fraud Cases Is On All-Time Rise

The use of video conferencing or phone calls to deliver healthcare services poses concerns about the service providers' authenticity. The risk of fraud or scam is inevitable and both patients and healthcare providers are exposed to this risk. Documents can be forged and the scammers disguised as service providers can hinder the overall reputation of the telemedicine market. The risk of cyber-crimes is high as impersonating scammers may abuse private as well as payment details to commit fraud.

Impact of COVID-19 on Europe Telemedicine Market

The healthcare industry is one of those which has boomed since the COVID scenario. The European telemedicine market has been witnessing a huge surge ever since the WHO declared COVID-19 as a pandemic. It has given people the option to avail healthcare facilities remotely, which is very crucial following the norms of social distancing.

Through virtual meets and tools to share reports and symptoms with the healthcare providers, the need to visit the doctors by visiting the hospitals or healthcare facilities has already been eliminated. Through contact-less and remote facility options, it has also provided space for healthcare providers to focus more on the crucial cases in the hospital premises.

Europe Telemedicine Market: By Service

Based on services, Europe’s telemedicine market is categorized into tele-monitoring, store-and-forward, and real-time interactive. Of these, tele-monitoring holds the largest market share, thereby driving the European telemedicine market. It allows the larger population to access healthcare services remotely and at an affordable cost. Even with other options like ‘Store-and-Forward’ or ‘Real-Time Interactive’, people prefer going for Tele-Monitoring as it allows both patients as well as healthcare providers to interact with each other conveniently and track their health.

Europe Telemedicine Market: By Type

Based on type, the European telemedicine market is segmented into two; Tele-Hospitals and Tele-Homes. Between these two, Tele-Homes covers the greater share of the market in the year 2020. The reason behind this dominance is that telemedicine is essential in the treatment of significant chronic illnesses such as cardiopulmonary, asthma, and other cardiac and lung-related conditions, as well as in emergencies. It also serves the needs of the elderly, thereby, raising the demand for Tele-Homes facilities in the region.

Europe Telemedicine Market: By Application

Based on application, the telemedicine market is segmented into Tele-Cardiology, Tele-Radiology, Tele-Pathology, Tele-Dermatology, Tele-Neurology, Emergency Care, Home Health, and others. Of these, Tele-Radiology holds the largest market share and is expected to maintain its dominance during the forecast period. Tele-Radiology allows patients and physicians to communicate and collaborate in real-time. It also allows patients to submit an X-ray or CT scan to a doctor without having to visit a clinic.

Europe Telemedicine Market: By End-User

Based on end-user, the telemedicine market is segmented into patients and healthcare providers. The patients’ segment holds the largest market share and is likely to maintain its dominance during the forecast period. This is because a large percentage of the patient population has been utilizing telemedicine services since the pandemic-induced lockdown to address their health issue. What’s more, telemedicine has also proved beneficial in the treatment of mental health conditions such as hypertension, anxiety, and panic disorders, which necessitate routine supervision and consultation with a psychiatrist.

Europe Telemedicine Market: Regional Insights

Geographically, the European telemedicine market is segmented into the UK, Germany, Italy, France, Spain, and the rest of Europe. Amongst these, the United Kingdom dominates the telemedicine market and is anticipated to maintain its dominance in the forecast period. Germany, on the other hand, is also expected to rise rapidly. This is because these countries have a high literacy rate and more people are drawn to technology, making telemedicine accessible to everyone. Furthermore, government initiatives to improve healthcare technology are assisting in the growth of the European telemedicine industry.

Competitive Landscape

The key players in the European telemedicine market are AMD Global Telemedicine, Phillips Healthcare, Mckesson Corp, Honeywell Lifesciences, Cerner Corporation, GE Healthcare, Medtronic, Inc., Cisco Systems Inc., CardioCom, Aerotel Medical Systems, Polycom, Inc., SHL Telemedicine, InTouch Technologies, IBM Corporation, Biotelemetry, All Scripts Healthcare Solutions Inc., and other prominent players. With leading telemedicine and research companies entering into partnerships, and start-ups receiving private investments, the telemedicine market in Europe is getting highly competitive with everyone focusing on technological advancements and the convenience of the end-users. Companies are consistently focusing on improved data monitoring, video conferencing qualities, picture archiving, etc., to provide better and affordable healthcare services.

Recent Development:

l  In March 2021, Science 37, an American clinical research company, and Medgate, a telemedicine service provider in Europe entered into a partnership, to decentralize clinical trials at the global level. This will allow Medgate physicians to engage themselves in research conducted by Science 37 and improve the quality of treatments globally. Not only that, patients all around the world can participate in these researches too, from the comfort of their homes.

l  In March 2021, PlusDental, a Berlin-based health tech company received a whopping amount of around USD 40 million from international investors. This generous amount will help PlusDental, a telemedicine start-up, to accelerate their company in the European market and further advance their services in online dental treatment.

Scope of Report

By Service 

• Tele-Monitoring
• Store-and-Forward
• Real-time interactive

By Technology

• Hardware
• Software
• Telecommunications

By Application

• Tele-Cardiology
• Tele-Radiology
• Tele-Pathology
• Tele-Dermatology
• Tele-Neurology
• Emergency Care
• Home Health
• Others

By End-User

• Tele-Hospitals
• Tele-Homes

By Country

• United Kingdom
• Germany
• Italy
• France
• Spain
• Rest of Europe

1.    Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.     Primary & Secondary Research

2.2. Quantitative Research

2.3. Market Breakdown & Data Triangulation

2.3.1.     Secondary Research

2.3.2.     Primary Research

2.4. Breakdown of Primary Research Respondents, By Region

2.5. Key Questionnaire asked during Primary Interviews

2.6. Key Primary Responses

2.7. Market Size Estimation

2.8. Assumption for the Study

2.9. Market Breakdown and Data Triangulation

3.    Executive Summary

4.    Europe Telemedicine MarketIndustry Insights

4.1. DROC Analysis

4.1.1.     Growth Drivers

4.1.2.     Restraints

4.1.3.     Opportunities

4.1.4.     Challenges

4.2. Recent Development/ Technical Landscape

4.3. Regulatory Framework

4.4. Porter’s Five Frame Analysis

4.5. Value Chain Analysis

4.6. PESTEL Analysis

4.7. Strategic Outlook

5.    Europe Telemedicine Market Overview

5.1. Market Estimates and Forecast by Value, 2017-2027

5.1.1.     By Value (USD Million)

5.2. Market Size and Forecast

5.3. Market Share and Forecast

5.3.1.     By Service

5.3.1.1.       Tele-Monitoring

5.3.1.2.       Store-and-Forward

5.3.1.3.       Real-time interactive

5.3.2.     By Type

5.3.2.1.       Tele-Hospitals

5.3.2.2.       Tele-Homes

5.3.3.     By Application

5.3.3.1.       Tele-Cardiology

5.3.3.2.       Tele-Radiology

5.3.3.3.       Tele-Pathology

5.3.3.4.       Tele-Dermatology

5.3.3.5.       Tele-Neurology

5.3.3.6.       Emergency Care

5.3.3.7.       Home Health

5.3.3.8.       Others

5.3.4.     By End-User

5.3.4.1.       Patients

5.3.4.2.       Healthcare-providers

5.3.5.     By Country

5.3.5.1.       The United Kingdom

5.3.5.2.       Germany

5.3.5.3.       Italy

5.3.5.4.       France

5.3.5.5.       Spain

5.3.5.6.       Rest of Europe

6.    Competitive Landscape

6.1. List of Key Producers and Their Offerings

6.2. Market Share/ Ranking Analysis (2020)

6.3. Competitive Benchmarking by Operating Parameters

7.    COVID-19 Impact

7.1. Future Impact

7.2. Key Developments during COVID-19

7.3. Impact on Market

7.3.1.     Different Scenario

7.3.2.     Impact on Companies

7.4. Regional Impact

8.    Key Strategic Recommendations

9.    Company Profiles (Company Profiles, Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address and Strategic Outlook)

9.1. AMD Global Telemedicine

9.2. Phillips Healthcare

9.3. Mckesson Corp

9.4. Honeywell Lifesciences

9.5. Cerner Corporation

9.6. GE Healthcare

9.7. Medtronic, Inc.

9.8. Cisco Systems Inc.

9.9. CardioCom

9.10.  Aerotel Medical Systems

9.11.  Polycom, Inc.

9.12.  SHL Telemedicine

9.13.  InTouch Technologies

9.14.  IBM Corporation

9.15.  Biotelemetry

9.16.  All Scripts Healthcare Solutions Inc.

9.17.  Other Prominent Players