In this article, we will be taking a look at the 15 countries with the best healthcare in Europe. If you are not interested in reading the details about the advanced European Healthcare, head straight to the 5 Countries With The Best Healthcare In Europe.
Advancing Healthcare Excellence in Europe
Europe is a global leader in healthcare, boasting some of the world's best healthcare systems. Countries like Switzerland, France, and Germany consistently secure top positions in healthcare quality rankings by the World Health Organization (WHO). The backbone of this excellence lies in a robust healthcare infrastructure characterized by high-quality medical services, cutting-edge technology, and an unwavering commitment to patient care.
Financially, the publicly financed EU health market commands a volume of EUR 1 trillion, with cross-border medical services already contributing at least 1 percent (EUR 10 billion). The EU Commission estimates a future scenario where low-cost medical care in Europe becomes available at rates between 40 percent and 80 percent below current standards, emphasizing the significant economic impact of the European healthcare system and its potential for further growth and development.
The healthcare landscape in Europe is not just about established systems; it's also witnessing a transformative phase. Pioneering models and innovative approaches are reshaping the industry, as seen in the projected substantial growth of the European point-of-care Diagnostics Market to $12.98 billion by 2030. Adopting advanced diagnostics, AI models for cancer detection, and the disruptive innovations driven by MedTech companies like Siemens Healthineers showcase Europe's commitment to pushing boundaries and achieving positive healthcare outcomes.
Germany and France stand out as healthcare powerhouses in Europe, showcasing high healthcare expenditure relative to GDP. In 2020, Germany allocated 12.8% of its GDP, amounting to a substantial €432 billion ($471.08 billion), while France's healthcare expenditure reached 12.2%, totaling €281 billion ($306.9 billion). These nations invest significantly in healthcare and emphasize preventive measures, with Germany leading the EU Member States by spending €13.9 billion($15.1 billion) on preventative healthcare in 2020, the highest in the region, and France allocating €8.0 billion.
The OECD Health Statistics reveal a trend among several high-income European countries, including Germany and France, allocating a substantial portion of their GDP to healthcare, which reflects the paramount importance placed on the healthcare sector. The Expat Insider Report 2023 further highlights Germany and France as top destinations for expats, including individuals from the US, UK, India, and Italy, with healthcare being a significant motivating factor for relocation. The medical scope in both countries is expansive, encompassing various treatments and procedures. Specialized oncology, cardiology, neurology, and orthopedics care are readily available.
Revolutionizing European Healthcare: Telemedicine and Pharmaceutical Innovations
Telemedicine has become a cornerstone of the European healthcare system, offering enhanced clinical outcomes, improved accessibility, and reduced workload for health workers. The European Commission's digital policies and funding programs have played a pivotal role in the widespread integration of telemedicine across the WHO European Region. The accelerated adoption of digital health technologies, especially during the COVID-19 pandemic, highlights the significance of telemedicine. The telemedicine market is expected to reach $396.76 billion by 2027, demonstrating a solid compound annual growth rate of 25.8% from 2020 to 2027.
DIGITALEUROPE reports that over 60% of European healthcare providers invested in telehealth initiatives in 2021, with plans for further investment in 2022. The European Union is actively involved in transformative efforts to digitize healthcare systems, focusing on electronic health record interoperability, remote patient monitoring, and data analytics.
GE Healthcare Technologies Inc. (Nasdaq: GEHC) has made notable strides in advancing European healthcare. The acquisition of Instrumentarium marked a significant move, establishing it as the European headquarters for GE's healthcare information technology business. GE Healthcare Technologies Inc. (Nasdaq:GEHC)'S philanthropic efforts are evident through substantial donations of medical equipment to European countries, such as the $1 million donation of ultrasound and monitoring equipment to Ukraine in 2022. GE Healthcare Technologies Inc, (Nasdaq:GEHC)'s commitment to research and development is reflected in its substantial investment, with R&D spending exceeding 6% of total revenues for the first nine months of 2023.
Dr. Reddy's Laboratories (NYSE: DRREDDY) plays a crucial role in contributing to European healthcare by providing affordable and innovative medicines. As an integrated pharmaceutical company in Europe and other major markets, Dr. Reddy's Laboratories (NYSE:DRREDDY) is dedicated to accelerating access to cost-effective and innovative medicines through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics, and Proprietary Products. Dr. Reddy's Laboratories (NYSE:DRREDDY)'s collaborations with various organizations and utilization of technology underscore its commitment to enhancing healthcare accessibility and developing new healthcare applications in Europe. Together, these initiatives showcase the dynamic landscape of healthcare advancements and contributions from Europe's telemedicine and pharmaceutical sectors.
A close-up of a healthcare professional studying a computer screen with data while consulting with a patient.
Our Methodology
For our methodology, we have assessed and ranked European countries according to their healthcare performance using the Legatum Prosperity Index's health pillar. The rankings are determined by scores out of 100, reflecting the overall well-being of the population, access to essential health services, health outcomes, health system effectiveness, sickness, risk factors, and mortality rates.
Here is our list of the 15 countries with the best healthcare in Europe.
15. Ireland
LPI Health Score: 80
Ireland's healthcare system is dual, consisting of public and private options and stands among the European Countries with Best Healthcare for Expats. Regulated by the Health Service Executive (HSE), the public system had a €21 billion budget in 2022. Healthcare expenditure was 6.1% of GDP in 2021. Notable sectors in Ireland's healthcare market include diagnostics, imaging, cancer services, mental health, and more. The private health insurance market is robust, with multiple insurers.
14. Austria
LPI Health Score: 80.2
Austria boasts one of Europe's top healthcare systems, with a population of 8.8 million and a GDP of USD $455.6 billion in 2017. Austria is known for its excellent healthcare system, spending 10.4% of its GDP on healthcare in 2019. Significant healthcare infrastructure and services investments include advanced medical technologies and high-quality pharmaceuticals. The market is driven by a growing elderly population and increased prevalence of infectious and chronic diseases. According to the OECD, the country prioritizes health determinants, contributing to overall population well-being and healthcare system effectiveness.
13. Malta
LPI Health Score: 80.5
Malta has a well-developed healthcare system with public and private sectors. In 2017, spending per person was €2,732, 9.3% of GDP. The healthcare market features a split system, with state-funded public healthcare and private sector involvement in primary care. Healthcare funding includes taxes for the public system and significant private spending on outpatient services, primary care, and pharmaceuticals. Household out-of-pocket payments constituted over one-third of total healthcare expenditure in 2020.
12. France
LPI Health Score: 80.5
France's premier healthcare system offers universal coverage, prioritizing prevention, health promotion, and patient empowerment and stands among the countries with the best healthcare in Europe. The robust health market focuses on digital health and consumer healthcare, with major players such as Elanco, GE Healthcare, and GlaxoSmithKline PLC. Statutory health insurance covers 83% of total health expenditure. Digital Health is expected to reach US$4.92 billion, and Consumer Healthcare US$5.34 billion by 2030.
11. Belgium
LPI Health Score: 80.6
Belgium is renowned for its best healthcare system allocating approximately one-tenth of its GDP to health. The medical equipment and supplies market is estimated at $3.4 billion USD in 2022 and is expected to grow by 5.8% from 2021 to 2026. Healthcare spending in 2019 accounted for 10.66% of GDP, surpassing the EU average.
The connected healthcare market is projected to reach $1078.57 million by 2030, featuring significant players like Agfa Healthcare and Medtronic. Belgium's healthcare system, primarily publicly funded and federally regulated, embraces continuous reform and innovation with a focus on incorporating technology. The primary healthcare companies contributing to this progress include Agfa Healthcare, Barco, BeWell Innovations, Oracle, Honeywell, and Medtronic.
10. Italy
LPI Health Score: 80.9
Italy's well-developed healthcare system sees a high demand for medical equipment, driven by a robust infrastructure and high per capita income. Italy's healthcare market is set to grow in hospitals, digital health, and home healthcare and stands among the Countries With Better Healthcare Than The United States. The hospital market is projected to increase by 2.29% (2024-2028), reaching US$100.70 billion in 2028. The Digital Health market is expected to grow by 6.24% (2024-2028), earning US$4.37 billion in 2028. The home healthcare market, valued at $8.70 billion in 2022, is estimated to expand at a compound annual growth rate (CAGR) of 7.43%.
9. Denmark
LPI Health Score: 81.1
Denmark stands ninth among the countries with the best healthcare in Europe, with the government as the primary purchaser of healthcare equipment, covering 85% of total purchases. The medical technology market is estimated at USD 10 billion, growing at 4-6% annually. Public expenditures accounted for 84% of total health spending in 2016, representing 8.7% of GDP, as noted by CommonWealth Fund.
The government allocated 5 billion Danish crowns ($739 million) to enhance the healthcare system, focusing on new treatments, cancer care, and addressing inequalities. Private healthcare, led by Aleris-Hamlet, is growing, and long-term care is included in total healthcare spending. With a population of 5.867 million and a GDP of $355.2 billion USD in 2021, Denmark's high-performing healthcare system faces primary care and prevention challenges.
8. Finland
LPI Health Score: 81.2
Finland is renowned for its top-tier healthcare system, with health expenditure per capita in 2020 surpassing the EU average at 9.6% of GDP and out-of-pocket spending just over 16% of total health expenditure. In 2019, healthcare expenditures amounted to approximately $25.12 billion USD, and general government expenditure on healthcare increased to 19.4 billion euros in 2021. The system, designed for equal access and cost control, treats healthcare as a right for all residents, virtually free and financed by the state budget. However, sustaining this renowned system comes with relatively high taxes, with an average single Finn facing a net average tax rate of 30%.
7. Germany
LPI Health Score: 81.4
Germany boasts one of Europe's premier healthcare systems, with the highest healthcare expenditure among EU Member States in 2020, valued at €432 billion ($471.08 billion). The substantial healthcare market exceeded EUR 457 billion ($480.04 billion) in 2021, growing 5.4% over the past five years. The system maintains almost universal health insurance coverage, with the majority enrolled in public plans and about ten percent opting for private providers. Public health insurance costs are income-based, ranging between 14.6%. Universal coverage, low cost-sharing, comprehensive benefits, patient choice, and private insurance options characterize the German healthcare system.
6. Luxembourg
LPI Health Score: 81.6
Luxembourg, a country with one of the best healthcare systems in Europe, had the EU's highest healthcare expenditure per inhabitant in 2023 at €6,436, per OECD reports. The well-equipped health workforce received substantial allocations, especially during the COVID-19 pandemic. Financing involves a mix of government, NGOs, and private corporations, with 40% of public funding covered by the public.
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Disclosure. None: 15 Countries With The Best Healthcare In Europeis originally published on Insider Monkey.
