Report : Europe Telemedicine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Telehospital and Telehome), Product and Services (Software and Hardware, Tele-Consulting, Tele-Monitoring, and Tele-Education/Training), Specialty (Cardiology, Gynecology, Neurology, Orthopedics, Dermatology, Mental Health, and Others), and Delivery Mode (Mobile, Call Centers, and Web)
Software and Hardware Segment to Dominate Europe Telemedicine Market during 2020–2028
According to a new market research study on “Europe Telemedicine Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Product and Services, Specialty, Delivery Mode” is expected to reach US$ 60,872.19 million by 2028 from 18,737.90 US$ million in 2021. The market is estimated to grow at a CAGR of 18.3% from 2021 to 2028. The report provides trends prevailing in the Europe telemedicine market along with the drivers and restraints pertaining to the market growth. Significant rise in chronic and lifestyle-associated diseases is the major factor driving the growth of the Europe telemedicine market. However, issues associated with issues regarding data security and forgery in healthcare hinders the growth of Europe telemedicine market.
Europe telemedicine market is segmented into type, product and services, specialty, delivery mode, and country. Europe telemedicine market, based on the product and services is segmented into software and hardware, tele-consulting, tele-monitoring, and tele-education/training. In 2020, the software and hardware segment held the largest share of the market. Europe telemedicine market, based on the type was segmented into telehospital, and telehome. In 2020, the telehospital segment held the largest share of the market. Europe telemedicine market, based on the specialty was segmented into cardiology, gynecology, orthopedics, neurology mental health (psychiatry) and others. In 2020, the others segment held considerable share of the market. Europe telemedicine market, based on the delivery mode was segmented into mobile, web, and call centers. In 2020, the mobile segment held the largest share of the market. Based on country, the Europe telemedicine market is segmented into France, Germany, Italy, Spain, UK, and rest of Europe. Rest of Europe held the largest market share in 2020.
The rapid growth of COVID-19 cases in Europe has had a major impact on the European economy. Spain, Italy, Germany, France, and the UK are a few most-affected European countries. On March 11, 2020, the COVID-19 outbreak was declared a pandemic by the World Health Organization, radically changing the way medicine is practiced. In the span of a few weeks, as quarantining and social distancing became the norm, in-person medical visits plummeted, suddenly thrusting telemedicine from the wings of medical care to center stage. Moreover, according to a report of UK August 2020, Scotland is again making progress on facing the COVID-19 outbreak. A collaboration between the Scottish Intercollegiate Guidelines Network (SIGN) and the Digital Health and Care Institute (DHI) has resulted in a decision support tool for predicting severe diseases. It forms part of Scotland’s COVID-19 assessment in primary care. Telemedicine experienced a huge surge in the adoption over the past few months during the pandemic.
Allscripts Healthcare Solutions, Inc.; Cerner Corporation; Cisco Systems, Inc.; Honeywell International, Inc.; Insight; Koninklijke Philips N.V.; McKesson Corporation; and Teladoc Health are among the leading companies in the Europe telemedicine market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Philips reported that it has re-joined forces with the American Telemedicine Association (ATA) to help advance the industry's implementation of telehealth, highlighting its contribution to linking treatment through acute, post-acute, and home care environments. The ongoing partnership highlights the increasing adoption and traction of telehealth in the context of COVID-19, as well as the need to communicate the exponential transition to telehealth capability.
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