Finland Digital Health Market Analysis Report 2022 to 2030

Finland Digital Health Market Analysis

$ 3999

Finland's Digital Health market is projected to grow from $xxBn in 2022 to $xxBn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by the dynamic digital health community and the robust start-up ecosystem of Finland. The market is segmented by solution, by deployment & by end-use. Some of the major players include GE Healthcare, Siemens Healthineers & Aiforia.

ID: IN10FIDH005 CATEGORY: Digital Health GEOGRAPHY: Finland AUTHOR: Vidhi Upadhyay

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Finland Digital Health Market Executive Summary

Finland's Digital Health market is projected to grow from $xxBn in 2022 to $xxBn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The health expenditure (% of GDP) for Finland rose from 9.15% in 2018 to 9.2% in 2020. The healthcare expenditure scenario in Finland is relatively higher than the average for European Union countries. The national healthcare system offers universal coverage to all citizens, and individuals spend relatively little out of pocket. Furthermore, because the bulk of healthcare services are delivered through the public system, private healthcare spending in Finland is very modest.

Finland is renowned for its excellent healthcare system and has been a pioneer in the use of digital health technologies. Through measures such as the formation of a national electronic health system and the adoption of telemedicine services, the government has aggressively promoted the growth of the country's digital health industry. “Kanta”, Finland's national electronic health record system, is widely utilized by healthcare practitioners and patients, helping to enhance the accessibility and quality of healthcare services.

Finland possesses The Digi-HTA process is conducted by the Finnish Medicines Agency (Fimea), and it includes a systematic review of the available scientific evidence on the safety, efficacy, and cost-effectiveness of digital health technologies and services.

finland digital health market analysis

Market Dynamics

Market Growth Drivers

Finland has a dynamic digital health community and a robust start-up ecosystem, which has aided in the development of digital health solutions. Mendor, which produces diabetic self-monitoring devices, and Tunstall, which provides remote monitoring and telecare solutions for elderly and chronically sick patients, are two of the most promising Finnish digital health start-ups. Moreover, several variables, including government support for market growth, rising demand for healthcare services, and widespread acceptance of technology by the public and healthcare providers will create opportunities for digital health companies to develop and provide innovative solutions to meet the needs of patients and healthcare providers.

Market Restraints

The digital health market in Finland is relatively developed and evolved, but there are some barriers to growth, such as a lack of reimbursement and funding for digital health solutions, competition from established players, data privacy and security concerns, and a lack of standardization and regulations.

Competitive Landscape

Key Players

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
Siemens Healthineers: Global medical technology firm that provides a variety of digital health solutions such as telemedicine, remote monitoring, and e-health services
Oura (FIN): Manufacturer of a wearable ring for measuring sleep and activity. The ring measures heart rate, breathing rate, body temperature, and movement to assess the quality of rest and recuperation
Aiforia (FIN): AI and cloud-based deep learning image analysis platform provider in all therapeutic areas. Pathologists and academics can use it to analyze digital pathology pictures

Healthcare Policies and Regulatory Landscape

In Finland, the Ministry of Social Affairs and Health is in charge of developing healthcare policies and regulations, including those pertaining to digital health. The Finnish Medicines Agency (Fimea) is in charge of medical device regulation, including digital health technologies. Telemedicine services are regulated by the Finnish Transport and Communications Agency (Traficom). General Data Protection Regulation (GDPR), regulates the protection of personal data in Finland, including data related to health.

Reimbursement Scenario

The national healthcare system, "Kela", which is in charge of healthcare reimbursement in Finland, covers a wide range of digital health services. Telemedicine services are widely reimbursed and are covered by the national healthcare system. Furthermore, compensation is provided for digital health solutions such as remote monitoring equipment and electronic health records.

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

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.