Growth Opportunities in European Telehealth Market, Forecast to 2030

Profound Demographic Shift in the Elderly Group and Growing Demand for Virtual Care are Driving Transformational Growth by 2030

The increasing demand for healthcare and a limited workforce have compelled healthcare providers to utilize telehealth channels for care delivery. The European healthcare industry is witnessing an unprecedented shortage of skilled workforce and clinician burnout. Such shortages have significantly burdened the healthcare system, as healthcare demand continues to grow due to the rising geriatric population and increasing healthcare consumerism. A significantly growing elderly population in Europe further drives the demand for accessible and comfortable healthcare services. Virtual care delivery enabled by telehealth solutions is considered one of the most effective solutions to manage the burden on health systems. Telehealth will see consistent adoption, leveraging this trend as its solutions, including virtual care and RPM, continue to gain attention from investors and other industry stakeholders. Moreover, from a technological perspective, AI is driving a transformation in virtual care, enhancing accessibility and efficiency, and bridging care gaps to meet the needs of a diverse population. There will be opportunities for vendors creating AI-powered solutions that enhance diagnostic accuracy, facilitate virtual interaction, promote patient engagement through personalized communication and follow-up, support adherence to treatment plans, and ultimately improve overall patient satisfaction.

Revenue Forecast

The revenue estimate for the base year 2024 is $17.26 billion, with a CAGR of 20.2% for the study period from 2024 to 2030.

Scope of Analysis

• Telehealth encompasses devices, software, platforms, and services that facilitate telecommunication channels to support clinical healthcare delivery, patient and professional health education, public health messaging, information dissemination, and health administration.
• The analysis focuses on solutions, such as virtual consultation services provided to patients and virtual visit/consultation platforms provided to healthcare systems, that enable patient-physician interactions. However, this does not include non-clinical applications and interactions outside virtual care platforms.
• Additionally, the study encompasses remote patient monitoring solutions that facilitate virtual care delivery by remotely tracking patients' vital signs through RPM devices, platforms, and services.

Segmentation

Care Continuum

Acute/Critical Care

• Virtual Nursing
• TeleICU
• Hospital-at-home/ Virtual Wards
• Emergency Care

Chronic Care

• Diabetes
• Cardiovascular diseases
• Respiratory disorders
• Other Chronic Care

Transitional Care

The Impact of the Top 3 Strategic Imperatives on the European Telehealth Industry

Innovative Business Models

• Why: Increasing healthcare demand and a limited workforce have compelled healthcare providers to utilize telehealth channels for care delivery.
• Frost Perspective: With rising preference from providers for integrated hybrid care models in their practice, telehealth vendors must focus on transforming their virtual care solutions toward this need. Companies such as Cera Care, Doccla, and Tunstall are blending telehealth consultations with home visits, using RPM data to triage which patients need physical visits and, when, optimizing workforce efficiency.

Transformative Megatrends

• Why: The European healthcare industry is witnessing an unprecedented shortage of skilled workforce and clinician burnout.
• Frost Perspective: Virtual care delivery enabled by telehealth solutions is considered one of the most effective solutions to manage the burden on health systems. Telehealth will see consistent adoption, leveraging this trend as its solutions, including virtual care and RPM, continue to gain attention from investors and other industry stakeholders.

Disruptive Technologies

• Why: The integration of AI technologies into telehealth services is expected to significantly enhance patient outcomes.
• Frost Perspective: There will be opportunities for vendors creating AI-powered solutions that enhance diagnostic accuracy, virtual interaction, patient engagement through personalized communication and follow-up, improving adherence to treatment plans and overall patient satisfaction. There will be growing partnerships between telehealth providers that partner with AI firms to enhance their telehealth solutions.

Competitive Environment

Category

Details

Number of Competitors

• 50+ with revenue greater than $1.0 million

Competitive Factors

• Cost, performance, support, technology, reliability, business model

Key End-user Industry Verticals

• Healthcare

Leading Competitors

• Doccla, Tunstall, Philips Healthcare, Kry Health, Doctolib

Other Notable Competitors

• Medtronic, Siemens Healthineers, Cera Care, MyndYou/Vayyar

Distribution Structure

• B2B, B2B2C, D2C

Notable Acquisitions and Mergers

• Doccla acquired OpenTeleHealth; Hims & Hers Health acquires Zava

Key Competitors

• Ada Health
• Amwell
• Avel eCare
• eMed Healthcare (acquired Babylon Health)
• Cera Care
• Doccla
• Doctolib
• Doctor Care Anywhere
• Electronic Caregiver
• Immediate
• Kwido
• MediTelecare
• Omneds
• RemoteMD
• TapestryHealth
• KRY Health
• SHL Telemedicine
• Zava
• GHC Health Care
• Medaviz
• Amazon Web Services
• Google Health
• Microsoft
• Salesforce
• Doccla
• Essence SmartCare
• Grandcare Systems
• Honeywell
• Legrand
• MyndYou
• Philips Healthcare
• Tunstall
• Vayyar Care
• VitalTech
• Vivify Health
• KRY Health
• Huma
• Medivine
• Connectedhealth fmp
• Electronic Caregiver
• Kwido
• SHL Telemedicine
• Cognitive Systems Corp
• Amazon Web Services
• KRY Health (Livi)
• Docplanner
• Doctolib
• Doctor Care Anywhere
• Electronic Caregiver
• Amwell
• Avel eCare
• Medvido by HealthHero
• Acurable
• Avertex Medical, Inc.
• Baxter (Hillrom & Welch Allyn)
• GE Healthcare
• Honeywell
• Medtronic

Growth Drivers

• Accessible Elderly Care
• Support for Healthcare Workforce
• Affordable and Equitable Care
• Government Initiatives and Funding

Growth Restraints

• Regulatory Inconsistencies: Diverse regulatory frameworks across regions in the European telehealth landscape lead to challenges in cross-border service delivery. Moreover, while improving, a significant variation in reimbursement frameworks across countries in Europe creates market fragmentation and poses barriers for the wider implementation of telehealth.
• Data Privacy and Security Concerns: While compliance such as the General Data Protection Regulation (GDPR) ensures safety and privacy of patient data, it may create challenges related to cost and complexity for smaller providers or vendors; limitations in processing and secondary usage of data, and regulatory uncertainty for Telehealth services that involve third-country vendors such as US-based cloud service providers.
• Digital Divide: While telehealth offers numerous promising benefits, it also demands prerequisites of awareness about digital modes of communication, devices, as well as access to reliable internet and smartphone infrastructure. Disparities in digital literacy and access to technology can hinder the adoption of telehealth, particularly among older adults and rural populations. Addressing these disparities is crucial for equitable healthcare delivery.