Smart Hospitals Market (By Component: Hardware, Systems & Software, and Services; By Connectivity: Wired, and Wireless; ByService Rendered: General Services, Super Specialty, and Specialty;By Artificial Intelligence:Offering and Technology;ByApplication: Electronic Health Record & Clinical Workflow, Remote Medicine Management, Medical Connected Imaging, Outpatient Vigilance, and Medical Assistance;By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Global Smart Hospitals Market is estimated to reach $101.6 billion by 2025; growing at a CAGR of 25.4% from 2017 to 2025.A smart hospital relies on optimized and automated processes built on an information and communications technology (ICT) environment of interconnected assets, particularly based on Internet of things (IoT). Smart hospitals improve existing patient care procedures and introduce new capabilities to them. The critical element for smart hospitals is the proficiency to provide a valuable service of insight, which was simply not possible or available earlier. In the course of this new technological revolution, a huge amount of data, cloud computing services, machine learning methods, and artificial intelligence solutions are being combined. Smart hospitals provide improved diagnostics/surgical ability, seamless patient flow, remote medical care, enhanced patient safety, safe and secure connections, healthcare infrastructure interoperability and many other features. The motivation behind moving to a smart hospital is based on the improvement of existing hospital processes and the introduction of new capabilities in patient healthcare.
Increasing demand for cost effective solutions in hospitals, adoption of IoT technologies in healthcare, and rising need of connected devices in hospitals are the major factors driving the growth of the global smart hospitals market. However, high price of connected systems, and lack of awareness about implementing IoT solutions in hospitals are the major constraints for the market growth.Though, growing government investments in healthcare sector, and modernization of healthcare infrastructure would unfold profitable growth opportunities for the market in the forthcoming future.
Component, connectivity, service rendered, artificial intelligence, application, and geography are the bifurcations of the global smart hospitals market. The component segment is sub-segmented into hardware, systems & software, and services. Wired, and wireless are the segregations of the connectivity segment. The service rendered segment is further divided into general services, super specialty, and specialty. By artificial intelligence, the segment includes offering and technology. Furthermore, electronic health record & clinical workflow, remote medicine management, medical connected imaging, outpatient vigilance, and medical assistance are classified under application segment.
Based on geography, the global smart hospitals market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexica, whereas Europe consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Some of the major players operating in the market include Medtronic, Koninklijke Philips N.V., GE Healthcare, Siemens AG, Qualcomm Life, Inc., Honeywell Life Care Solutions, Allengers, Cerner Corporation, AdhereTech, and McKesson Corporation, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Smart Hospitals Market with respect to major segments such as components, connectivity, service rendered, artificial intelligence, application, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Smart Hospitals Market has been included in the report
- Profile of the key players in the Global Smart Hospitals Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Smart Hospitals Market
- Systems & Software
Service Rendered Segments
- General Services
- Super Specialty
Artificial Intelligence Segments
- Electronic Health Record & Clinical Workflow
- Remote Medicine Management
- Medical Connected Imaging
- Outpatient Vigilance
- Medical Assistance
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East