Europe has some of the greatest healthcare systems in the world, making it a global leader in this field. Nations such as Switzerland, France, and Germany routinely rank highest in the World Health Organization’s (WHO) rankings of healthcare quality. A strong healthcare infrastructure, marked by top-notch medical services, state-of-the-art technology, and an unrelenting dedication to patient care, is the foundation of this excellence.
Europe’s healthcare scene is going through a revolutionary era in addition to having well-established systems. The sector is being reshaped by trailblazing concepts and inventive methods, as seen by the estimated significant expansion of the European point-of-care diagnostics market to $12.98 billion by 2030. The adoption of AI models for cancer diagnosis, sophisticated diagnostics, and disruptive developments spearheaded by MedTech businesses such as Siemens Healthineers demonstrate Europe’s dedication to pushing limits and attaining favorable healthcare results.
Austria
With a GDP of USD $455.6 billion in 2017 and a population of 8.8 million, Austria has one of the best healthcare systems in Europe. With 10.4% of its GDP going toward healthcare in 2019, Austria is renowned for having an excellent healthcare system. High-quality medications and cutting-edge medical technologies are examples of significant investments made in healthcare infrastructure and services. The market is driven by the rising number of senior people and the incidence of chronic and infectious diseases. The OECD states that the nation gives priority to health determinants, which enhance the general well-being of the populace and the efficiency of the healthcare system.
Malta
Malta boasts both a public and private healthcare system that is highly developed. Spending per person in 2017 was €2,732, or 9.3% of GDP. The healthcare market is divided, with primary care provided by the private sector and public healthcare supported by the state. Taxes support the public healthcare system, while large amounts of private money are spent on prescription drugs, outpatient treatment, and primary care. In 2020, household out-of-pocket expenses accounted for more than one-third of all healthcare spending.
France
Among the best in Europe, France’s top-notch healthcare system prioritizes prevention, health promotion, and patient empowerment. It provides universal coverage. With significant competitors including Elanco, GE Healthcare, and GlaxoSmithKline PLC, the thriving health market is focused on consumer healthcare and digital health. 83% of all medical costs are covered by mandatory health insurance. By 2030, it is anticipated that consumer healthcare would reach $5.34 billion and digital health will reach $4.92 billion.
Belgium
With a tenth of its GDP dedicated to healthcare, Belgium is known for having the best healthcare system in the world. The market for medical supplies and equipment is projected to reach $3.4 billion in 2022 and is projected to expand by 5.8% between 2021 and 2026. Spending on healthcare exceeded the EU average in 2019 and accounted for 10.66% of GDP.
By 2030, the connected healthcare market—which is expected to include major businesses like Agfa Healthcare and Medtronic—is expected to reach $1078.57 million. The healthcare system in Belgium is federally regulated and mostly supported by the government. It is committed to ongoing innovation and change, with a particular emphasis on utilizing technology. Medtronic, Agfa Healthcare, Barco, BeWell Innovations, Oracle, and Honeywell are the main healthcare businesses that have made this advancement possible.
Italy
Due to the country’s strong infrastructure and high per capita income, medical equipment is in high demand in Italy’s well-developed healthcare system. Italy is one of the countries with better healthcare than the US, and its hospital, digital health, and home healthcare markets are all expected to increase. The hospital market is expected to grow by 2.29% between 2024 and 2028, with a projected value of US$100.70 billion in 2028. The market for digital health is anticipated to expand by 6.24% between 2024 and 2028, reaching US$4.37 billion in revenue. The home healthcare industry is projected to increase at a compound annual growth rate (CAGR) of 7.43%, with a projected valuation of $8.70 billion in 2022.
Denmark
Denmark is home to among the greatest healthcare systems in Europe; the government accounts for 85% of all purchases of medical equipment, placing it in tenth place. Estimated at $10 billion, the medical technology market is expected to expand at a rate of 4-6% per year. According to the Common Wealth Fund, public spending made up 84% of all health spending in 2016, or 8.7% of GDP.
The government has set aside 5 billion Danish crowns, or $739 million, to improve the healthcare system with an emphasis on cancer care, innovative therapies, and reducing disparities. Long-term care is included in the total amount spent on healthcare, and Aleris-Hamlet is leading the way in the growth of private healthcare. With 5.867 million people living there and a GDP projected to reach $355.2 billion in 2021, Denmark’s well-functioning healthcare system will likely face difficulties with primary care and prevention.