This report was recently updated on April 11 2024 with the latest and most recent
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Smart Healthcare Market Analysis - Forecasts to 2025 By Component (Hardware, Services, and Systems & Software), By Services Offered (General, Specialty, and Super Specialty), By Connectivity (Wired, Wireless), By Artificial Intelligence (Offering, Technology), By Application (Remote Medicine Management, Electronic Health Record & Clinical Workflow, Outpatient Vigilance, Medical Connected Imaging, Medical Assistance ), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), End-use Landscape, Vendor Landscape, and Competitor Analysis | Business Intelligence Report - Global Market Estimates
Market Insights:
The development of smart healthcare is due to the risingoccurrence of chronic diseases, increasing need for advanced patient care, and efficient &precise solutions. Moreover, smart hospital offers advantages such as reduced cost, improved treatment results, upgraded patient experience, lessened errors, and improved disease management is likely to foster growth of the market.
Governments’ initiatives undertaken in the healthcare sector such as implementation of IT solutions, infrastructure improvement, and increase in the number of skilled IT experts are some of the factors that encourage the adoption of healthcare IT solutions in emerging countries.
Component Insights:
The smart healthcare market includes hardware, systems & software, and services. The market for systems &software is projected to witness the highest growth over the coming years.
Healthcare IT systems &instruments are fairly costly solutions and so is their maintenance & software update. Support &maintenance administrations, which involve software updates according to users’ demand, represent a repeated expenditure accounting for 30% of the total cost of ownership.
In addition, the absence of internal IT expertise in the healthcare market makes it important for end-users to receive propertraining to ensure smooth functioning of systems& procedures. High cost of such connected systems, rising interoperability risk, and absence of governance standards are the major factors limiting industry growth.
Services Offered Insights:
Amongst all the services offered, the demand for super specialty hospitals is anticipated to grow at the highest CAGR over the coming years. Super specialty hospitals provide specialized care & treatment to patients suffering from illness.The main reason behind the high growth of this segment is the necessity for patients’ wellbeing, quality of medication, and increased insurance ceiling on family members of insured persons for super-speciality treatment at certain hospitals.
Connectivity Insights:
Connectivity of healthcare systems through the Internet of Things (IoT) places importance on the patients’ needs. Pervasive healthcare services are highly multifaceted, with numerous applications concentrating on interoperability with the existing hospital resources, security & protection of sensitive information, and convenience to end users.
Super specialty hospitals render proficient operations for saving lives of patients with the help of diagnostics, therapeutic procedures, and skilled staff. Moreover, the preciseness of these devices &instruments is very high due to the fact that an error might put a patient’s life in danger.
Artificial Intelligence Insights:
On the basis of artificial intelligence the market is divided into offerings and technology. Offerings include hardware, software, and other services. The outpatient vigilance technology enables healthcare facilities to adequately monitor every patient without the use of multiple connecting cables, leads, and sensors.
Application Insights:
The growth of smart hospitals is attributed to the increasing application in delivering accurate and fast results. The outpatient vigilance application is likely to grow at the highest CAGR over the next few years. Operating room and ICU instruments such as blood pressure cuffs and intravenous pumps can be interconnected for programmed error detection by through IoT. These devices provide advanced care to patients in hospitals.
Regional Insights:
North America accounts for the major share of the smart hospital market. The Asia Pacific region is anticipated to grow at the highest CAGR on account of the increasing number of hospitals, clinics, and surgicalcentres in this region.
Advancement in healthcare infrastructure, increasing number of start-up companies, and mergers & acquisitions in the healthcare domain has contributed to growth of this industry in China, Japan, India, and South Korea.
End Use Landscape:
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to use smart hospital services. Few of the major consumers of this market are Cleveland Clinic, Karolinska University Hospital, and North York General Hospital.
Competitor Analysis:
The major players of the smart hospital market includes Philips (The Netherlands), Siemens AG (Germany), Medtronic (Ireland), Qualcomm Life (U.S.), Allengers (India), AdhereTech (U.S.), Cerner Corporation (U.S.), GE Healthcare (U.S.), McKesson (U.S.), St. Jude Medical (U.S.), Samsung (South Korea), Athenahealth (U.S.), Renesas Electronics Corporation (Japan), and Honeywell Life Care Solutions (U.S.).
Please note: This is not an exhaustive list of companies profiled in the report.
Some of the solution providers are SAP (Germany), Microsoft (US), Allscripts (U.S.), CitiusTech Inc. (U.S.), Infor (U.S.), Athenahealth (U.S.), PhysIQ (US), Diabetizer (Germany), AdhereTech (U.S.), Epic (U.S.), Stanley Healthcare (U.S.), and Oracle (U.S.).
In February 2011, Andover, announced its new contribution to Stryker's new wireless smart bed to connect patient data from Stryker smart beds directly into hospitals Electronic Medical Records (EMR).
1 RESEARCH METHODOLOGY
1.1 DESK RESEARCH
1.2 PRIMARY RESEARCH
1.3 ANALYSIS AND OUTPUT
1.4 FINAL OUTPUT FROM DESK AND PRIMARY RESEARCH
2 ECOSYSTEM OVERVIEW
3 TECHNOLOGICAL TRENDS IN SMART HOSPITAL MARKET
4 DEMAND AND SUPPLY MATRIX
4.1 INTRODUCTION
4.2 DEMAND SIDE ANALYSIS
4.2.1 SMART HOSPITALS: MARKET DRIVERS
4.2.2 SMART HOSPITALS: MARKET RESTRAINTS
4.2.3 SMART HOSPITALS: MARKET OPPORTUNITIES
4.2.4 SMART HOSPITALS: MARKET CHALLENGES
4.3 SUPPLY SIDE ANALYSIS
4.3.1 FUTURE SCENARIO (CAGR% VS. COUNTRY)
4.3.2 MAPPING KEY MANUFACTURERS
4.3.3 PORTER’S FIVE FORCES ANALYSIS
4.3.3.1 Threat of new entrants
4.3.3.2 Threat of substitutes
4.3.3.3 Bargaining power of buyers
4.3.3.4 Bargaining power of suppliers
4.3.3.5 Intensity of competitive rivalry
4.3.4 SMART HOSPITAL MARKET: TREND ANALYSIS
4.4 PESTLE ANALYSIS
4.5 IMPACT ANALYSIS
4.6 PATENT LISTING
4.7 BEHAVIOURAL ANALYSIS
4.7.1 KEY MACRO INDICATORS
4.7.2 KEY MICRO INDICATORS
5 REGULATORY FRAMEWORK
6 SMART HOSPITAL MARKET, BY COMPONENT
6.1 INTRODUCTION
6.2 HARDWARE
6.3 SERVICES
6.4 SYSTEMS & SOFTWARE
7 SMART HOSPITAL MARKET, BY SERVICES OFFERED
7.1 INTRODUCTION
7.2 GENERAL
7.3 SPECIALTY
7.4 SUPER SPECIALTY
8 SMART HOSPITAL MARKET, BY CONNECTIVITY
8.1 INTRODUCTION
8.2 WIRED
8.3 WIRELESS
9 SMART HOSPITAL MARKET, BY ARTIFICIAL INTELLIGENCE
9.1 INTRODUCTION
9.2 OFFERING
9.3 TECHNOLOGY
10 SMART HOSPITAL MARKET, BY APPLICATION
10.1 INTRODUCTION
10.2 REMOTE MEDICINE MANAGEMENT
10.3 ELECTRONIC HEALTH RECORD & CLINICAL WORKFLOW
10.4 OUTPATIENT VIGILANCE
10.5 MEDICAL CONNECTED IMAGING
10.6 MEDICAL ASSISTANCE
11 SMART HOSPITAL MARKET, BY REGION
11.1 INTRODUCTION
11.2 NORTH AMERICA
11.2.1 BY COMPONENT
11.2.2 BY SERVICES OFFERED
11.2.3 BY CONNECTIVITY
11.2.4 BY APPLICATION
11.2.5 BY COUNTRY 1
11.2.5.1 U.S.
11.2.5.1.1 By component
11.2.5.1.2 By services offered
11.2.5.1.3 By connectivity
11.2.5.1.4 By application
11.2.5.2 CANADA
11.2.5.2.1 By component
11.2.5.2.2 By services offered
11.2.5.2.3 By connectivity
11.2.5.2.4 By application
11.3 EUROPE
11.3.1 BY COMPONENT
11.3.2 BY SERVICES OFFERED
11.3.3 BY CONNECTIVITY
11.3.4 BY APPLICATION
11.3.5 BY COUNTRY
11.3.5.1 GERMANY
11.3.5.1.1 By component
11.3.5.1.2 By services offered
11.3.5.1.3 By connectivity
11.3.5.1.4 By application
11.3.5.2 UK
11.3.5.2.1 By component
11.3.5.2.2 By services offered
11.3.5.2.3 By connectivity
11.3.5.2.4 By application
11.3.5.3 FRANCE
11.3.5.3.1 By component
11.3.5.3.2 By services offered
11.3.5.3.3 By connectivity
11.3.5.3.4 By application
11.3.5.4 ITALY
11.3.5.4.1 By component
11.3.5.4.2 By services offered
11.3.5.4.3 By connectivity
11.3.5.4.4 By application
11.4 ASIA PACIFIC
11.4.1 BY COMPONENT
11.4.2 BY SERVICES OFFERED
11.4.3 BY CONNECTIVITY
11.4.4 BY APPLICATION
11.4.5 BY COUNTRY
11.4.5.1 CHINA
11.4.5.1.1 By component
11.4.5.1.2 By services offered
11.4.5.1.3 By connectivity
11.4.5.1.4 By application
11.4.5.2 INDIA
11.4.5.2.1 By component
11.4.5.2.2 By services offered
11.4.5.2.3 By connectivity
11.4.5.2.4 By application
11.4.5.3 JAPAN
11.4.5.3.1 By component
11.4.5.3.2 By services offered
11.4.5.3.3 By connectivity
11.4.5.3.4 By application
11.5 CENTRAL & SOUTH AMERICA
11.5.1 BY COMPONENT
11.5.2 BY SERVICES OFFERED
11.5.3 BY CONNECTIVITY
11.5.4 BY APPLICATION
11.5.5 BY COUNTRY
11.5.5.1 SOUTH KOREA
11.5.5.1.1 By component
11.5.5.1.2 By services offered
11.5.5.1.3 By connectivity
11.5.5.1.4 By application
11.6 MIDDLE EAST & AFRICA
11.6.1 BY COMPONENT
11.6.2 BY SERVICES OFFERED
11.6.3 BY CONNECTIVITY
11.6.4 BY APPLICATION
11.6.5 BY COUNTRY
11.6.5.1 SOUTH AFRICA
11.6.5.1.1 By component
11.6.5.1.2 By services offered
11.6.5.1.3 By connectivity
11.6.5.1.4 By application
12 END-USE LANDSCAPE (CONSUMER PROFILE)
12.1 NORTH AMERICA
12.2 EUROPE
12.3 ASIA-PACIFIC
12.4 CENTRAL & SOUTH AMERICA
12.5 MIDDLE EAST & AFRICA
13 VENDOR LANDSCAPE (SUPPLIERS/MANUFACTURERS/DISTRIBUTORS)
13.1 NORTH AMERICA
13.2 EUROPE
13.3 ASIA-PACIFIC
13.4 CENTRAL & SOUTH AMERICA
13.5 MIDDLE EAST & AFRICA
14 COMPANY PROFILE
14.1 PHILIPS.
14.1.1 BUSINESS DESCRIPTION
14.1.2 FINANCIAL PERFORMANCE
14.1.3 SWOT ANALYSIS
14.1.4 PRODUCTS AND SERVICES OFFERED
14.1.5 STRATEGIC INITIATIVES
14.2 GE HEALTHCARE.
14.2.1 BUSINESS DESCRIPTION
14.2.2 FINANCIAL PERFORMANCE
14.2.3 SWOT ANALYSIS
14.2.4 PRODUCTS AND SERVICES OFFERED
14.2.5 STRATEGIC INITIATIVES
14.3 MEDTRONIC
14.3.1 BUSINESS DESCRIPTION
14.3.2 FINANCIAL PERFORMANCE
14.3.3 SWOT ANALYSIS
14.3.4 PRODUCTS AND SERVICES OFFERED
14.3.5 STRATEGIC INITIATIVES
14.4 QUALCOMM LIFE
14.4.1 BUSINESS DESCRIPTION
14.4.2 FINANCIAL PERFORMANCE
14.4.3 SWOT ANALYSIS
14.4.4 PRODUCTS AND SERVICES OFFERED
14.4.5 STRATEGIC INITIATIVES
14.5 HONEYWELL LIFE CARE SOLUTIONS
14.5.1 BUSINESS DESCRIPTION
14.5.2 FINANCIAL PERFORMANCE
14.5.3 SWOT ANALYSIS
14.5.4 PRODUCTS AND SERVICES OFFERED
14.5.5 STRATEGIC INITIATIVES
14.6 STANLEY HEALTHCARE
14.6.1 BUSINESS DESCRIPTION
14.6.2 FINANCIAL PERFORMANCE
14.6.3 SWOT ANALYSIS
14.6.4 PRODUCTS AND SERVICES OFFERED
14.6.5 STRATEGIC INITIATIVES
14.7 SAP
14.7.1 BUSINESS DESCRIPTION
14.7.2 FINANCIAL PERFORMANCE
14.7.3 SWOT ANALYSIS
14.7.4 PRODUCTS AND SERVICES OFFERED
14.7.5 STRATEGIC INITIATIVES
14.8 MICROSOFT
14.8.1 BUSINESS DESCRIPTION
14.8.2 FINANCIAL PERFORMANCE
14.8.3 SWOT ANALYSIS
14.8.4 PRODUCTS AND SERVICES OFFERED
14.8.5 STRATEGIC INITIATIVES
14.9 ALLSCRIPTS.
14.9.1 BUSINESS DESCRIPTION
14.9.2 FINANCIAL PERFORMANCE
14.9.3 SWOT ANALYSIS
14.9.4 PRODUCTS AND SERVICES OFFERED
14.9.5 STRATEGIC INITIATIVES
14.10 CERNER CORPORATION
14.10.1 BUSINESS DESCRIPTION
14.10.2 FINANCIAL PERFORMANCE
14.10.3 SWOT ANALYSIS
14.10.4 PRODUCTS AND SERVICES OFFERED
14.10.5 STRATEGIC INITIATIVES
14.11 MCKESSON
14.11.1 BUSINESS DESCRIPTION
14.11.2 FINANCIAL PERFORMANCE
14.11.3 SWOT ANALYSIS
14.11.4 PRODUCTS AND SERVICES OFFERED
14.11.5 STRATEGIC INITIATIVES
14.12 PROTEUS DIGITAL HEALTH
14.12.1 BUSINESS DESCRIPTION
14.12.2 FINANCIAL PERFORMANCE
14.12.3 SWOT ANALYSIS
14.12.4 PRODUCTS AND SERVICES OFFERED
14.12.5 STRATEGIC INITIATIVES
14.13 RENESAS ELECTRONICS CORPORATION
14.13.1 BUSINESS DESCRIPTION
14.13.2 FINANCIAL PERFORMANCE
14.13.3 SWOT ANALYSIS
14.13.4 PRODUCTS AND SERVICES OFFERED
14.13.5 STRATEGIC INITIATIVES
14.14 DIABETIZER .
14.14.1 BUSINESS DESCRIPTION
14.14.2 FINANCIAL PERFORMANCE
14.14.3 SWOT ANALYSIS
14.14.4 PRODUCTS AND SERVICES OFFERED
14.14.5 STRATEGIC INITIATIVES
14.15 ATHENAHEALTH
14.15.1 BUSINESS DESCRIPTION
14.15.2 FINANCIAL PERFORMANCE
14.15.3 SWOT ANALYSIS
14.15.4 PRODUCTS AND SERVICES OFFERED
14.15.5 STRATEGIC INITIATIVES
The smart healthcare market report has been studied from the year 2016 till 2025. However, the CAGR provided in the market study is from the year 2017 to 2025. The market research method involved three stages: Desk research, Primary survey research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the smart healthcare market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, demand forecasting, market share analysis, SWOT analysis of the companies, and customer analytics.
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
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