Berg Insight analysed the latest developments on the telehealth and telecare markets in the Europe region. The study provides 165 pages of unique business intelligence, including 5-year industry forecasts, expert commentary and real-life case studies on which to base your business decisions.
Traditional telecare is the largest and most mature segment of the connected care market with a total of 5.2 million users at the end of 2018. The market for next-generation telecare solutions is entering a growth phase with an estimated total of 2.5 million users in the EU 28+2 countries at the end of 2018, whereas the number of telehealth users reached 1.0 million. The total number of people using connected care solutions amounted to 7.8 million at the end of 2018, as there is an overlap between the three solution categories. The market is forecasted to grow at a CAGR of 14.1 percent during the next six years to reach 17.3 million connected care users by 2024. Berg Insight expects that traditional telecare will be overtaken by next-generation telecare as the largest segment of the connected care market with a forecasted 8.3 million users in 2024. However, traditional telecare will follow with 6.2 million users and telehealth with 5.6 million users at the end of the forecast period.
Connected care revenues in the EU 28+2 countries reached an estimated € 3.3 billion in 2018. This includes revenues from traditional telecare solutions, next-generation telecare solutions and telehealth solutions. The market is expected to grow at a CAGR of 14.7 percent between 2018 and 2024 to reach € 7.5 billion at the end of the forecast period. Traditional telecare solutions accounted for the largest share of the market in 2018 but will not grow as quickly as the next-generation telecare and telehealth markets during the next six years.
The traditional telecare equipment market in Europe is highly consolidated. The two major players – Tunstall and Legrand – hold leading positions in nearly all markets and together account for almost 70 percent of telecare unit sales in the region. The next-generation telecare market is on the other hand fragmented. In addition to the leading telecare equipment vendors, companies active in the next-generation market include specialised providers such as Essence Group, Just Checking, Vitalbase and Vivago in activity monitoring; Everon, Libify, Navigil, Oysta Technology, SmartLife Care and Smartwatcher in mobile telecare; and Evondos, Innospense and MediRätt in medication compliance monitoring. The telehealth market is similarly a fragmented market that is evolving quickly. Many new start-ups as well as well-established solution providers from adjacent industries are active on the market. Examples include BodyTel, Capsule Technologies, Comarch, eDevice, Luscii, OpenTeleHealth and SHL Telemedicine.
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