Romania Digital Health Market Analysis Report [2022-30] I Insights10

Romania Digital Health Market Analysis

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The Romania 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 - 2030. The market will be driven by increasing investments in the digital health sector and increasing awareness of preventive health alternatives. The market is segmented by solution, by deployment & by end-use. Some of the major players include MediHelp, Medlife & Wello.

ID: IN10RODH005 CATEGORY: Digital Health GEOGRAPHY: Romania AUTHOR: Vidhi Upadhyay

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Romania Digital Health Market Executive Summary

The Romania 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 - 2030. The public sector dominates healthcare in Romania, owning the majority of hospitals and providing national health insurance to nearly all Romanian people. In 2021, the cost of healthcare in Romania was $16.7 Bn which is $872.3 per person and 5.9% of GDP, making it one of the lowest per capita in Europe. Romania's population is aging and declining. While the birth rate has declined over time, the mortality rate has risen dramatically. Cardiovascular disease is the leading cause of mortality in Romania, accounting for 57% of all fatalities.

In recent years, the government has increased its investment in electronic health records, telemedicine, and other digital health projects in Romania. They have a Health Insurance Information Platform (PIAS) which collects and processes real-time medical information of citizens and aids receiving medical services online.

romania digital health market analysis

Market Dynamics

Market Growth Drivers

The Romanian government has made investments in numerous digital health programs, such as electronic medical records and telemedicine, which has contributed to the development of the digital health sector. Cardiovascular disease is the leading cause of mortality in Romania and hence more adoption of digital health can be expected owing to increasing awareness of preventive health alternatives over digital platforms.

Market Restraints

In some remote locations, there is a lack of infrastructure and restricted access to the internet. There are also issues with data privacy and security, as well as a dearth of digital tool training for healthcare workers. Overall, while progress has been achieved in Romanian digital health, more effort has to be done to fully grasp its capacity. Moreover, issues such as lack of standardization to the interoperability between the different platforms and lack of systematic reimbursement policy to make digital services more affordable are also some factors lagging the growth of the digital health market in Romania.

Competitive Landscape

Key Players & Deals

MediHelp (ROU): Romania's top supplier of health insurance and healthcare services. It provides a variety of digital health solutions, including telemedicine and an online platform for health insurance management
Medlife (ROU): In September 2022, Acquired the majority stake in health tech startup SanoPass, which offers digital personalized medical and wellness services
Wello (ROU): AI-powered tool that provides dietary advice to children. The app employs AI algorithms to deliver individualized nutrition programs to children as well as family members
Medtronic: Medtronic is a global healthcare company that offers a range of digital health solutions, such as remote patient monitoring systems, and telehealth platforms

Other private startups such as. Lumen, I’m Fine, Tully, Xvision & Parol are also growing in the country.

Healthcare Policies and Regulatory Landscape

The Ministry of Health is responsible to execute health insurance and health reform programs and policies. The National Center for Statistics and Informatics in Public Health (CNSISP), a structure reporting to the National Institute of Public Health, ensures expert technical coordination and administration of the official data system in public health statistics and informatics services within public health departments and agencies, and offices. The National Authority for Quality Management in Health (ANMCS) is a public body tasked with assuring and continually improving the quality of health services and patient safety through a specific digital platform to evaluate health services.

The National Health Insurance House (CNAS) currently manages Romania's Health Insurance Information Platform (PIAS), which includes the following components: the Integrated Single Information System (SIUI), the Electronic Prescription Information System (SIPE), the Electronic Health Insurance Card (CEAS), and the Electronic Health Record (DES).

Reimbursement Scenario

The National Health Insurance House (CNAS), Romania's national health insurance provider, reimburses digital health solutions. The reimbursement procedure for digital health solutions is based on the Ministry of Health's diagnosis-related groups (DRGs) and rates. The amount of reimbursement may differ based on the type of treatment delivered and the disease being treated. The reimbursement process of digital health solutions is still evolving and is subject to changes in the near future.

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.