The UK-connected healthcare market is projected to grow from $1.73 Bn in 2022 to $11.24 Bn by 2030, registering a CAGR of 26.24% during the forecast period of 2022-2030. The main factors driving the growth would be the ageing population, advances in technology, the COVID-19 pandemic and regulatory support. The market is segmented by type, function and by application. Some of the major players include Babylon Health, Huma, Livi, Pudh Doctor, Cera Care, Apple, Microsoft, IBM and GE Healthcare.
The UK-connected healthcare market is projected to grow from $1.73 Bn in 2022 to $11.24 Bn by 2030, registering a CAGR of 26.24% during the forecast period of 2022-30. Healthcare spending in the UK was $314.10 Bn in 2020 or $4,682.21 per person. From 9.9% of GDP in 2019 to 12.0% of GDP in 2020, this expenditure grew. In 2020, the government paid for around 83% of total healthcare spending, or $ 260.2 Bn, a 14.9% real-terms increase.
The connected healthcare market refers to the use of digital technology and connected devices to enhance healthcare delivery and patient care. These can include telemedicine, remote patient monitoring, wearable technology, mobile health apps, and other digital health solutions.
The connected healthcare sector in the UK is home to a wide range of businesses, from small startups to significant international organisations. To enhance patient care and outcomes, these businesses are working with healthcare providers to provide emerging digital health solutions. With initiatives like the NHS Digital Academy and the NHS Digital Innovation Center, the UK government has also contributed to the growth of digital health technologies.
Market Growth Drivers
The UK-connected healthcare market is expected to be driven by the following factors:
Market Restraints
The following factors are expected to limit the growth of the connected healthcare market in the UK:
Key Players
January 2022: Babylon acquired of DayToDay Health in order to enhance the healthcare services offered via its digital platform. With the acquisition, Babylon's members will now have access to highly engaging programs and clinical services given to patients.
January 2023: Huma acquired Alcedis in order to broaden its clinical trial platform. By acquiring the company, Huma will establish an advanced clinical trials section that will provide digital health solutions for every stage of the research and development process.
The Department of Health and Social Care is in charge of developing and implementing healthcare policies. The National Health Service (NHS) is the primary supplier of healthcare services in the UK. The government's vision for the future of healthcare in the UK is laid out in the NHS Long-Term Plan, which was released in 2019. It places particular emphasis on digital health technology and the use of data to enhance patient care and results.
Medical device regulation and usage safety are the purviews of the Medicines and Healthcare Products Regulatory Agency (MHRA), one of the regulatory organisations. In the UK, the General Data Protection Regulation (GDPR) and the Data Protection Act 2018 set strict penalties for non-compliance with regulations on gathering, storing, and use of patient data.
Additionally, the government launched NHS App, a mobile health app, in 2018 that enables users to view their medical records, schedule appointments, and place online medication orders. As part of its dedication to digital health, the NHS also provides telemedicine services, such as video consultations with medical experts.
The NHS in the UK sets the reimbursement guidelines for connected healthcare technologies. The NHS is a publicly funded healthcare system that offers all UK citizens free medical care. Connected healthcare technologies can be financed in a variety of ways, even though the NHS does not have a defined reimbursement policy for them. First of all, if digital health innovations are determined to be cost-effective and improve patient outcomes, the NHS may provide funding for their development and use. This money can come from the NHS Innovation Accelerator or other government programs that support innovation in the healthcare industry. Second, some digital health innovations could receive private funding from patients or medical professionals. Digital health costs may be covered by private health insurance policies.
Lastly, to promote the creation and application of their innovations, digital health technology businesses may be able to seek grant funding from the government or other sources. The NHS Digital Innovation Fund, which provides funding for the development of digital health solutions, is one program via which these grants could be given out.
1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market 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 Services
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Type (Revenue, USD Billion):
Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription
By FunctionType (Revenue, USD Billion):
By Application Type (Revenue, USD Billion):
Methodology for Database Creation
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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:
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2. Primary Research
To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:
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:
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.
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