Digital Health - Europe

Europe

The Digital Health market in Europe is anticipated to reach a revenue of €34.42bn by 2024.
This projection indicates an annual growth rate of 9.30% (CAGR 2024-2029), resulting in a market volume of €53.69bn by 2029.
The average revenue per user (ARPU) is expected to be €93.83.
When compared globally, United States is expected to generate the highest revenue in the Digital Health market, reaching €43,690.00m by 2024.
In terms of specific markets, Digital Treatment & Care will be the largest, with a total revenue value of €19.13bn in 2024.
In Europe, Germany leads the way in digital health with its strong healthcare infrastructure and innovative digital solutions.

Key regions: United States, China, Japan, Asia, Europe

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Digital Health market in Europe is experiencing significant growth and evolution, driven by various factors such as technological advancements, changing consumer preferences, and the need for more efficient and accessible healthcare services.

Customer preferences: Consumers in Europe are increasingly seeking convenient and personalized healthcare solutions, leading to a growing demand for digital fitness and well-being services, online doctor consultations, and digital treatment and care options. The convenience of accessing healthcare services from the comfort of their homes, coupled with the ability to track and manage their health data digitally, is appealing to a wide range of customers.

Trends in the market: In countries like Germany and the United Kingdom, there is a rising trend towards using health and fitness apps to monitor physical activity, nutrition, and overall well-being. Online doctor consultations are becoming more popular in regions like Scandinavia, where long distances and limited access to healthcare facilities are driving the need for remote medical services. Additionally, digital treatment and care platforms are gaining traction in countries like France and Spain, where chronic disease management and post-operative care are being revolutionized through digital solutions.

Local special circumstances: Each country in Europe has its unique healthcare system, regulations, and cultural attitudes towards digital health solutions. For example, countries with more centralized healthcare systems like the Nordic countries may have an easier time implementing nationwide digital health initiatives compared to countries with more fragmented healthcare systems. Furthermore, cultural attitudes towards data privacy and security may influence the adoption of digital health technologies in countries like Germany, where strict regulations govern the use of personal health data.

Underlying macroeconomic factors: The increasing healthcare costs, aging population, and the burden of chronic diseases are putting pressure on healthcare systems across Europe, driving the need for more cost-effective and efficient healthcare solutions. Digital health technologies have the potential to improve healthcare outcomes, reduce costs, and enhance the overall patient experience, making them an attractive option for governments, healthcare providers, and consumers alike. Additionally, the COVID-19 pandemic has accelerated the adoption of digital health solutions in Europe, as lockdowns and social distancing measures highlighted the importance of remote healthcare services and telemedicine.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.