DUBLIN--(BUSINESS WIRE)--The "Europe Telemedicine Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Europe telemedicine market is expected to register a CAGR of nearly 16.72% during the forecast period, 2019-2024.
The major factors responsible for the growth of the European telemedicine market include the changing socio-economic factors, the higher percentage of digitally literate population, when compared to other geographies, and favorable policies. These factors are further expected to drive the growth of the European telemedicine market during the forecast period.
The higher percentage of digitally literate population, when compared to other geographies, is driving the overall growth of the market in Europe. According to the data published by the Eurostat, more than four fifths (85%) of all households in the EU-28 had internet access in 2016.
Between 2007 and 2016, the proportion of households with dependent children (that had access to the internet) was consistently higher than that for households without dependent children. The gap between households with dependent children and those without continued to grow, and thus, a higher percentage of digital literacy was observed in Europe, when compared to other regions. Due to this increase, the use of telemedicine is easier for people in Europe.
In the European Member States, more than four out of every five young people, aged 16-29 years, used a computer on a daily basis, in 2015. There is a 2020 Life Long Learning strategy in Estonia, which has a number of objectives in relation to digital skills, putting in place the infrastructure to ensure all schools have access to technology and internet, as a pre-condition for digital learning.
Nevertheless, the rates of internet access continued to increase year-on-year. Moreover, the daily use of internet in 2016 was consistently higher among young people, than it was for the whole population in each of the EU member states. Hence, the increasing use of internet has helped to drive the telemedicine market in Europe.
Telemonitoring Segment under Service is Expected to Account for Fastest Growth Rate during the Forecast Period
The applications of telemonitoring are mainly in treating chronic illnesses, such as cardiopulmonary disease, asthma, and heart failure, at home. Telemonitoring is also a way of responding to the new needs of home care for the aging population.
Real-time monitoring of patients in ambulances reduces the time taken to initiate treatment and allows the emergency crew to be better prepared.
Telemonitoring moves patient care out of a clinical setting into the patient's home, by utilizing telecommunication technologies, such as the internet, telephone, or video conferencing, to transmit physiological data and information about current symptoms, from the patient to the healthcare professionals.
Telemonitoring programs can be flexible, individually tailored, and have the potential to provide access to specialist care for a larger number of patients, across a much greater geographical region, when compared to usual care.
In the future, virtual reality, immersive environments, haptic feedback, and nanotechnology promise new ways of improving the capabilities of telemonitoring. Hence, telemonitoring is expected to help in augmenting the growth of the telemedicine market.
The market comprises of few major market players and these players are focusing on technological advancements to acquire the major market share.
The market has been noticing technological developments on a large scale for the past couple of years. Integration of services, such as EMR, picture archiving and communication systems (PACS), telehealth services, RFID, etc., has been gaining increasing importance in Europe.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Changing Socio-economic Factors
4.2.2 Higher Percentage of Digitally Literate Population Compared to Other Geographies
4.2.3 Favorable Policies
4.3 Market Restraints
4.3.1 Lack of Interoperability between eHealth Solutions
4.3.2 Inadequate or Fragmented Legal Frameworks, including the Lack of Reimbursement Schemes for eHealth Services
4.4 Porter's Five Forces Analysis
5 Market Segmentation
5.1 By Service
5.1.8 Other Services
5.2 By Technology
5.3 By Specialty Area
5.3.5 Emergency Care
5.3.6 Internal Medicine
5.3.8 Other Specialty Areas
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
6 Competitive Landscape
6.1 Company Profiles
6.1.1 Allscripts Healthcare Solutions Inc.
6.1.2 BioTelemetry Inc.
6.1.3 Honeywell Life Sciences
6.1.4 IBM Corporation
6.1.5 Koninklijke Philips N.V.
6.1.6 McKesson Corporation
6.1.7 Medtronic PLC
6.1.8 SHL Telemedicine Ltd.
7 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/qt4n9r/europes?w=4