In a recent published report, Kenneth Research has updated the market report for Smart Hospital Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Hospital Market products.
Kenneth Research has published a detailed report on Smart Hospital Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
The Global Smart Hospital Market was valued at USD 13.68 billion in 2016 and is projected to reach USD 95.02 billion by 2025, growing at a CAGR of 24.03% from 2017 to 2025.
A smart hospital is a hospital that relies on optimized and automated processes built on an ICT environment of interconnected assets, particularly based on Internet of things, to improve existing patient care procedures and introduce new capabilities. A smart hospital system have several benefits including – improved diagnostics and surgical ability, seamless patient flow, remote medical care, enhanced patient safety, cyber resilience, increases trustworthiness, decreased costs, improved outcomes of treatment, improved disease management, enhanced management of drugs.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Emerging economies
1.2 Increasing government investments in healthcare sector
1.3 Adoption of connected devices and instruments in hospitals
1.4 Increasing occurrence of chronic diseases
1.5 Penetration of IoT technologies in healthcare
1.6 Improving healthcare infrastructure demand for smart hospital
1.7 Increasing need for cost-effective solutions for hospital
2. Market Restraints
2.1 Poor government standards
2.2 Increasing cost of connected systems
2.3 Poor competence in deploying IoT solutions in hospitals
Market Segmentation:
The Global Smart Hospital Market is segmented on the artificial intelligence, component, connectivity, application, service rendered, and region.
1. Artificial Intelligence:
1.1 Technology
1.2 Offering
2. By Component:
2.1 Software
2.2 Hardware
2.3 Services
3. By Connectivity:
3.1 Wireless
3.2 Wired
4. By Application:
4.1 Medical Connected Imaging
4.2 Medical Assistance
4.3 Remote Medicine Management
4.4 Electronic Health Record & Clinical Workflow
4.5 Outpatient Vigilance
5. By Service Rendered:
5.1 Specialty
5.2 Super Specialty
5.3 General Services
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. GE Healthcare
2. Qualcomm Life
3. Microsoft
4. SAP
5. Honeywell Life Care Solutions
6. Stanley Healthcare
7. McKesson
8. Cerner Corporation
9. Allscripts
10. Medtronic
11. Philips
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Smart Hospital Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
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