SEATTLE, July 21, 2021, (MEDGADGET) — Overview:
The combination of technological advances in medical devices (wired or wireless) for patient safety and performance within hospitals or connected to software in clinical information systems, becomes smart hospitals. The Internet of Things (IoT) plays a major role in building smart hospitals with devices, system components and networks. Smart hospitals are changing the healthcare industry as electronic devices are collecting data of patients’ vital signs and pass them on to doctors and patients themselves to track records. Major players continue to build new development technologies for the betterment of the market.
The global smart hospitals market is estimated to be valued around US$ 29.6 billion in 2020 and is expected to register a CAGR of 19.6% during the forecast period (2020-2027).
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Impact of Coronavirus (COVID-19) Pandemic:
Since the outbreaks of coronavirus (COVID-19), were first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020.
According to Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, around 30.6 million cases and 950,000 deaths from coronavirus (COVID-19) disease were reported on September 20, 2020 globally.
In order to deal with COVID-19 epidemic, market players are introducing a variety of Medicare management services and patient engagement technologies to provide advanced health care services and reduce the spread of coronavirus. For instance, on April 2, 2020, MD Revolution, Inc. announced the launch of RevUp Now, a full care management platform developed to help medical practices maintain financial viability and connection with patients during this national shutdown. The RevUp Now platform includes chronic care management, remote patient monitoring, annual wellness visits, COVID-19 screening, and other features.
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Drivers:
Rising product launches by major market players is expected to drive the global smart hospitals market growth over the forecast period.
Major market players are focused on launching advanced software to facilitate outpatient vigilance which is expected to propel growth of the global smart hospitals market over the forecast period. For instance, in January 2019, Medtronic plc launched MyCareLink Heart, a mobile app to support Medtronic’s BlueSync technology-enabled pacemakers. MyCareLink Heart is developed to wirelessly send and receive data from the Medtronic CareLink network and eliminate the need for a dedicated bedside monitor or other remote monitoring hardware.
Moreover, adoption of inorganic strategies is expected to robust the global smart hospitals market growth during the forecast period.
Collaborations and partnerships by major players are expected to drive the global smart hospitals market growth during the forecast period. For instance, in January 2020, KT Corporation, a South Korea based Telecommunications Company, and Samsung Medical Center (SMC) developed an innovative, 5G-powered medical service to establish 5G smart hospital. KT Corporation and Samsung Medical Center signed a memorandum of understanding in September 2019.
Restraints
Lack of awareness related to smart healthcare products is expected to hamper the growth of the global smart hospitals market over the forecast period.
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Market segmentation:
- By Component: Hardware, Systems and Software, Services.
- By Technology: Cloud Computing, Artificial Intelligence, Wearable Technologies, Radio Frequencies Identification, Others.
- By Application: Remote Medicine Management, Medical Connected Imaging, Medical Assistance, Electronic Health Record & Clinical Workflow, Outpatient Vigilance.
- By Connectivity: Wired, Wireless.
Key Players
Key players operating in the global smart hospitals market such as Medtronic Plc, GE Healthcare, Stanley Healthcare, Athena health, Inc., Capsule Technologies, Inc., Koninklijke Philips N.V., Siemens AG, All scripts Healthcare Solutions, Inc., Cerner Corporation, McKesson Corporation, Samsung Group, SAP SE, and Honeywell International Inc.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Component
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By Connectivity
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Development
- Market Trends
- Technology Landscape
- New Device/Product Launches
- PEST Analysis
- Porter’s Five Forces Analysis
- Smart Hospital Environment
- Smart Hospital Objectives
- Smart Hospital Assets (Criticality of smart hospital assets)
- Remote care system assets
- Networked medical devices
- Identification systems
- Networking equipment
- Mobile client devices
- Interconnected clinical information systems
- Smart Hospital Challenges and Threats Analysis
- Asset exposure to cyber threats
- Recommendations for effective smart hospital implementation, and management
- Market Dynamics
- Global Smart Hospitals Market – Impact of Coronavirus (Covid-19) Pandemic
- Impact on Demand
- Impact on Healthcare
- Global Smart Hospitals Market, By Component, 2017-2028 (US$ Million)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Hardware
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Software Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Introduction
- Global Smart Hospitals Market, By Technology, 2017 – 2028 (US$ Million)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Cloud Computing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Artificial Intelligence
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Wearable Technologies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Radio Frequencies Identification
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Introduction
- Global Smart Hospitals Market, By Application, 2017 – 2028 (US$ Million)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Remote Medicine Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Medical Connected Imaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Medical Assistance
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Electronic Health Record
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Outpatient Vigilance
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Introduction
- Global Smart Hospitals Market, By Region, 2017 – 2028 (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, For Regions, 2018 – 2028
- Regional Trends
- North America
- Market Size and Forecast, By Component, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Technology, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Connectivity, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Country, 2017 – 2028 (US$ Mn)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Component, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Technology, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Connectivity, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Country, 2017 – 2028 (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Component, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Technology, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Connectivity, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Country, 2017 – 2028 (US$ Mn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Component, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Technology, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Connectivity, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Country, 2017 – 2028 (US$ Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Market Size and Forecast, By Component, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Technology, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Connectivity, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Country, 2017 – 2028 (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Component, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Technology, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Connectivity, 2017 – 2028 (US$ Mn)
- Market Size and Forecast, By Country/Region, 2017 – 2028 (US$ Mn)
- South Africa
- Central Africa
- North Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
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