Smart Hospital Market is estimated to grow at a CAGR of 21.5% from 2018 – 2025 :

Pune, India, January 2021/MRFR Press Release/- Market Research Future published a half cooked research report on Global Smart Hospital Market.

Smart Hospital Market Overview:

The Smart Hospital Market will witness a healthy growth from 2019 to 2026, a research report suggests. Growing at a CAGR of 23.65%, the market is projected to reach US$67,299.60 million by 2026. Demand for IoT is expected to support the market growth along with demand for AI and machine learning. As predicted by analysts, the high cost of connected devices will negatively affect the market’s performance from 2019 to 2026. During the forecast period, the market will be supported by the need for affordable medical services and demand for artificial intelligence and machine learning. The risk of cyber-attacks on the other hand will challenge smart healthcare-based organizations functioning in the Global Smart Hospital Market. Analysts have split the market into application & type segments based on products and services. Smart healthcare-based companies have been profiled. The high cost of products is set to affect the global market during the forecast period 2019 to 2026. The report also provides the market’s performance forecasts till 2026. Analysts have studied the strategy of smart healthcare-based organizations to help new entrants and established businesses. The smart healthcare sector itself is supported by growing investments across different sectors as well as favorable government policies. During the forecast period 2019 to 2026, the Smart Hospital Market is set to witness a health growth across application & type segments as well as regional markets.

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Smart Hospital Market Segmentation:

The smart healthcare sector has seen growth across application & type segments owing to the increasing disposable income and the rising developments in industrialization. To study the market, analysts have further segmented application & type into application on the basis of super-specialty, specialty, and general services. The market is further segmented into type, which is split into clinic workflow, electronic health record, medical assistance, medical connected imaging, outpatient vigilance, and remote medicine management.

The segmental analysis presented in the report provides smart healthcare-based organizations insights into key growth factors such as the increasing preference of consumers as well as challenges such as the high cost of services the market will face from 2019 to 2026. The increasing awareness among consumers and the increasing demand from various industry verticals are some of the key factors having an influence on smart healthcare-based companies, suggest analysts as per the Smart Hospital Market Report. But the report also identifies high deployment and maintenance costs and the lack of skilled human resource as major threats companies in smart healthcare will face till 2026. 

Smart Hospital Market Regional Overview:

Smart healthcare-based companies in the Smart Hospital Market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The presence of effective communication will be a key growth driver for regional markets. However, the lack of a developed infrastructure will turn out to be a threat. For the forecast period 2019 to 2026 each of these regional markets are studied in the report. Starting from North America, the regional market and smart healthcare-based companies are spread across the United States, Canada, and Mexico. The low demand from developing countries will turn out to be a major challenge from 2019 to 2026. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by technological advances as well as people aiming for more comfort, suggests the report. Similarly, the smart healthcare sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the Smart Hospital Market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2026.

Competitive Landscape:

The Global Smart Hospital Market Research Report brings a comprehensive study of application & type market segments, regional analysis, and smart healthcare-based company details of key players. As the forecast period 2019 to 2026 will bring new opportunities for the market owing to the population growth and automation in industries, the market is set to grow at a compound annual growth rate of 23.65% and is predicted to reach a value of US$67,299.60 million by 2026. With SWOT analysis of smart healthcare-based companies and Porter’s Five Force model analysis-based findings, keeping the lack of effective communication and dynamic policies and regulations challenges in mind, companies in the smart healthcare sector can change the way business is done.

Industry News:

Stryker announced the introduction of the ProCuity wireless smart hospital bed this week, with the aim of increasing quality and protection while lowering costs. The intelligent bed was created to help hospitals minimise in-hospital patient declines at all stages of acuity while simultaneously optimising nurse workflow efficiency and safety at a lower rate. According to a press release from Stryker, it is the only bed on the marketplace currently that can communicate to patient monitoring systems without the need for cables or wires.