The term smart healthcare products refers to a patient centric approach rather than a healthcare provider centric approach. These products provide increased safety and efficacy to patients and help improve clinical outcomes. For example, the safety syringe allows for effective protection against infection from reused needles.
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Rise in mortality rate due to increasing prevalence of chronic disease is expected to boost the growth of the global smart healthcare products market during the forecast period. For instance, a review in the Annals of Internal Medicine estimates that a lack of adherence causes around 125,000 deaths, and costs around $100-289 billion to the healthcare system every year. While, medication non-adherence is reported to cause 200,000 deaths annually in the European Union and cost around US$ 653 million a year to the National Health Service in the U.K.
Moreover, introduction technological advanced smart healthcare products, rise in government funding for health care services, high penetration of smartphones, and rise in aging population are some major factors expected to drive growth of the global smart healthcare products market.
North America is expected to witness significant growth in the global smart healthcare products market owing to the increasing prevalence of chronic disease and increasing demand for smart healthcare products in the region. For instance, in November 2017, the U.S. Food and Drug Administration (FDA) approved first smart pill, named Abilify MyCite, with digital ingestion tracking system. It is approved for the treatment of acute treatment of manic, schizophrenia, mixed episodes associated with bipolar I disorder, and to treat depression in adults.
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Moreover, in March 2018, Allscripts Healthcare Solutions launched Avenel, its new electronic health record (EHR). Mobile-first and cloud-based, Avenel creates a community-wide shared patient record, uses machine learning to reduce time for clinical documentation and is designed to work like an app instead of traditional software.
Latin America and Asia pacific are expected to witness substantial growth in the global smart healthcare products market owing to the rise in patient pool and increasing adoption of smart healthcare products and platforms in these regions. Electronic health records can benefit these regions by providing better operational efficiency.
Major players active in the global smart healthcare products market are Allscripts Healthcare Solutions Inc. Becton Dickinson & Company, Medtronic, Inc., Honeywell Life Care Solutions, AirStrip Technologies, Proteus Digital Health, Cerner Corporation, Terumo Corporation, Stanley Healthcare, eClinicalWorks, and Olympus Corporation, among others.
In March 2017, GE Healthcare announced that it is expanding its Maternal-Infant Care business with the acquisition of Monica Healthcare. This will enhance GE’s mobile and digital offerings by providing clinicians and patients around the world with more innovative solutions for labor, delivery, and home care.
In May 2018, Allscripts signed definitive agreement to acquire HealthGrid Holding Company, a mobile enterprise patient engagement platform.
In January 2018, Allscripts signed a definitive agreement to acquire Practice Fusion to expand its big data insights and health analytics, clinical trial solutions, and data sharing technologies.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Smart Healthcare Products Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Smart Healthcare Products Industry Impact
Chapter 2 Global Smart Healthcare Products Competition by Types, Applications, and Top Regions and Countries
2.1 Global Smart Healthcare Products (Volume and Value) by Type
2.3 Global Smart Healthcare Products (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Smart Healthcare Products Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Smart Healthcare Products Market Analysis
Chapter 6 East Asia Smart Healthcare Products Market Analysis
Chapter 7 Europe Smart Healthcare Products Market Analysis
Chapter 8 South Asia Smart Healthcare Products Market Analysis
Chapter 9 Southeast Asia Smart Healthcare Products Market Analysis
Chapter 10 Middle East Smart Healthcare Products Market Analysis
Chapter 11 Africa Smart Healthcare Products Market Analysis
Chapter 12 Oceania Smart Healthcare Products Market Analysis
Chapter 13 South America Smart Healthcare Products Market Analysis
Chapter 14 Company Profiles and Key Figures in Smart Healthcare Products Business
Chapter 15 Global Smart Healthcare Products Market Forecast (2021-2027)
Chapter 16 Conclusions
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