Ireland Digital Health Market Analysis

Ireland Digital Health Market Analysis


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Ireland's Digital Health market is projected to grow from $xxBn in 2022 to $xxBn by 2030, registering a CAGR xx% during the forecast period of 2022-30. The market will be driven by the increasing investments in the new innovative start-ups in the sector and supportive initiatives by the Irish government. The market is segmented by solution, by deployment & by end-use. Some of the major players include IBM, Abbott & GE Healthcare.

ID: IN10IEDH005 CATEGORY: Digital Health GEOGRAPHY: Ireland AUTHOR: Vidhi Upadhyay

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Ireland Digital Health Market Executive Summary

Ireland's Digital Health market is projected to grow from $xxBn in 2022 to $xxBn by 2030, registering a CAGR xx% during the forecast period of 2022-30. Ireland ranks 6th highest for government spending on healthcare as a share of the national income out of 33 OECD economies. In 2020, Ireland spent equivalent to 7.1% of its GDP on healthcare as compared to 6.7% in 2019. Ireland's healthcare spending has risen in recent years as a result of an aging population and higher medical treatment and drug prices. Despite this, the government has been striving to limit healthcare expenses by introducing cost-cutting measures such as generic medicine launch and pharmaceutical reference pricing.

The government has been investing in the healthcare system to improve the quality and accessibility of healthcare services. The Health Service Executive (HSE) has been implementing e-health solutions, such as Electronic Health Records (EHRs) and telemedicine, in order to improve the coordination and delivery of healthcare services. The government has also invested in the development of telehealth services, which allow people to receive healthcare services remotely via video consultations with physicians and remote monitoring of chronic illnesses. The commercial sector is also involved in the Irish digital health industry, with IBM, Accenture, and Oracle investing in the development of digital healthcare initiatives such as electronic health records, telemedicine, and remote monitoring.

The Irish Digital Health Leadership Steering Group (IDHLSG) is a group of over 65 Irish and foreign leaders (clinicians, patients, CEOs, Academics, and policymakers) who have come together to assist drive the digital transformation of Ireland's health system.

ireland digital health market analysis

Market Dynamics

Market Growth Drivers

eHealth Ireland (HSE division responsible for the delivery of technology to support healthcare across the Irish health service.) prioritized seven core efforts, including National Health Identifier Infrastructure, ePrescribing and eReferrals, telehealthcare services with an emphasis on chronic disease, and the construction of national Electronic Health Record (EHR). The Medicinal Products (Amendment) Regulations 2020, allowed for the electronic distribution of prescriptions to pharmacies using the HSE's Healthmail electronic system.

Ireland possesses numerous important ecological benefits. It is a small yet well-connected country. There is also a global network of innovation centers focusing on many of the multidisciplinary components of digital health, such as medical research, cybersecurity, and data science laying a strong building ground for digital health innovations.

Market Restraints

The impact of health service's digital transformation highlights the crucial significance of a really well-developed, efficient, and reliable healthcare technology platform in Ireland which is lacking. Despite the government's efforts to invest in digital health, there is still a lack of funding for digital health initiatives, which can limit the development and implementation of digital health solutions. Lack of technical standards and reimbursement solutions are among other factors slowing down the growth of the digital health market in Ireland.

Competitive Landscape

Key Players

  • IBM Offers a wide range of healthcare tools & services to aid digital health solutions
  • Abbott: Offers A freestyle libre device that measures blood sugar levels constantly and connects to a phone app to allow the patient to monitor them and take medication as required
  • GE Healthcare: It is a top national company, its digital solutions suite of applications utilizes technology like preventive, predictive, and prescriptive analytics to improve patient outcomes
  • Cerner: They have been building IT solutions to assist & enhance healthcare for 40 years
  • Medtronic: This is a global medical device company, which has a presence in Poland and provides a wide range of digital health solutions, including remote monitoring and telemedicine

Other local private companies such as LetsGetChecked, Atlantic Therapeutics, Qualio & FIRE1 have been doing notable contributions to the digital health sector.

Healthcare Policies and Regulatory Landscape & Reimbursement Scenario

The Health Service Executive (HSE) and the Department of Health govern digital health & reimbursement in Ireland. The HSE is in charge of implementing digital health solutions and managing healthcare services, whilst the Department of Health is in charge of developing healthcare policy and regulating medical equipment. the HSE has been deploying e-health systems like electronic health records (EHRs) and telemedicine. It has also invested in the development of telehealth services. The General Data Protection Regulation (GDPR) is also in place to protect patient data and prevent breaches.

Sláintecare is a program designed by the Department of Health of Ireland and the HSE that strives to provide equitable access to services for all citizens, guided by the goal of a single universal health service for all. Individuals will be treated based on their need rather than their capacity to pay under this new paradigm.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Digital Health Market Segmentation

The Digital Health Market is segmented as mentioned below:

By Solution (Revenue, USD Billion):

  • Software
  • Services

By Deployment (Revenue, USD Billion):

  • Cloud-based
  • On-premises

By End-use (Revenue, USD Billion):

  • Diagnostic Centres
  • Healthcare Payers
  • Healthcare Research Centres
  • Hospitals & Clinics
  • Nursing Care Centres
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 06 October 2023
Updated by: Vidhi Upadhyay

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