Europe mHealth Market Size and Growth Analysis:
According to the latest market research report, the Europe m-Health Market is expected to reach USD 39,910 million by 2025 from an estimated USD 7,570 million in 2018, growing at a CAGR of 27% over the forecast period 2018 – 2025.
Mobile health, although many definitions have been defined, can nevertheless be defined in general terms as the integration of telecommunications in the health sector to make it simpler and more accessible and cheaper. mHealth is used to reduce the administrative costs associated with treatment and technological advances, from the transmission of clinical data to digital records.
Growth Opportunities, Challenges and Restraints
The gradual change to the digital health system for the analysis and management of patient health has resulted in the rapid growth of this market. Everyone can have access to adequate health facilities with the application of information and communication technologies (ICT) in the health sector. Infrastructure support is needed with better internet connections and electronic systems so that ICTs are fully utilized. The growing cases of chronic diseases and technological advances in this area support this growth. Online health solutions have the ability to provide cost-effective health services, research, public health and health-related activities.
Practical applications and advances in ICT, the growing number of mobile and Internet users, miniaturization and lower costs of sensors and other devices are among the main drivers of this regional market. Information and communication technologies (ICT) have infinite potential, especially in the health system. The growing demand for health management of the population and the need to reduce healthcare costs have led to increasing demand for mobile health solutions around the region.
It is also expected that technological advances and subsequent developments that have generated several sub-segments of this market have a positive impact on the growth of the market in recent years. However, fraudulent activities, usability problems, confidentiality and security, among others, are factors that hinder the growth of the mHealth market.
Some of the other factors responsible for the substantial market growth include low cost and convenience of medical devices, technological innovations, integration of wireless technologies, and affordability of smartphones, government initiatives and increasing lifestyle diseases. Factors such as lower adoption due to lower accuracy, nascent technology in underdeveloped economies, limited reimbursement coverage, lack of technological awareness among the ageing population and uncertainty in government regulations are restricting market growth to a certain extent. The growth of m-Health device market is mainly attributed to the high revenue generated from blood glucose meters, cardiac monitors and BP monitors, which collectively accounted for the majority of these m-Health devices revenue in 2015. BP monitors is the highest revenue generating segment in the European mHealth devices market, whereas, blood glucose monitor is the fastest growing segment. Cardiac monitors market is the third largest segment growing with a CAGR of 37.5% during the forecast period.
Regional Existence of Europe mHealth Market
On the basis of geography, Europe mHealth market is analysed under various regions namely UK, Spain, Italy, Germany and France. Europe is the second largest market for mHealth after North America. High health care expenditure, government initiatives, high rate of adoption of new technologies and increasing funding by private and public organizations are some of the factors driving the growth of the mHealth market in Europe.
Few of the Key Players dominating the Europe mHealth Market Profiled in the Report are:
- Dexcom Inc.
- Apple Inc.
- FitBit Inc.
- Withings
- Jawbone
- Proteus Digital Health
- Omada Health Inc.
- WellDoc Inc.
- Livongo Health
- Noom, Inc.
- Ginger.io, Inc.
- Propeller Health
- 2Morrow, Inc.
- Canary Health
- Mango Health
- BiogeniQ Inc.
- Twine Health Inc.
- Glooko Inc.
- Firstbeat Technologies Ltd.
- Claritas Mind Sciences
- Big Health
- Others
This research report includes following segmentation for the Europe mHealth Market size and forecast 2018 - 2025
Europe mHealth Market - By Product
- Connected Medical Devices
- Heart Rate Monitors
- Activity Monitors
- Electrocardiographs
- Foetal Monitoring
- Neuromonitoring
- M-Health Applications
- M-Health Services
Europe mHealth Market - By End User
- B2C
- B2B
- Providers
- Payers
- Employers
- Others
Europe mHealth Market – By Region
- United Kingdom
- Germany
- France
- Italy
- Spain