New York, NY -- (SBWire) -- 06/04/2019 --The smart hospital is a technological revolution in the healthcare industry which manages a large amount of available data and integrates different hospital delivery mechanisms. It makes use of the electronic patient records and streamlining processes, which lead to improved quality of life by reducing the risks to health (by remote monitoring) and improving the general well-being of people. Smart healthcare provides more patient-centric services that improve access to healthcare and are customized to individual patients' needs. According to Netscribes, the global smart hospital market is expected to have a significant compounded annual growth rate (CAGR) of 23.29% and reach a market size of USD 55.76 Bn by 2023.
The global smart hospital market is bifurcated on the basis of products (smart pills, mHealth, telemedicine, electronic health record and others), application (remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging, and medical assistance) and artificial intelligence (offering and technology) and regions. The technologies used are AI, cloud computing, radio frequencies identification, wearable technologies, zigbee technologies, Internet of Things (IoT) and others. The regions include North America, Europe, Asia-Pacific, Latin America, and The Middle East and Africa.
Almost all operating room and intensive care unit (ICU) devices such as blood pressure cuffs, ventilators and intravenous pumps can be interconnected for automatic error detection by introducing IoT in them, so that these devices help provide better care to patients in hospitals. This is driving the market for outpatient vigilance during the forecast period.
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The major players in the smart hospital market are:
Medtronic (Ireland), Philips (Netherlands), Microsoft (US), GE Healthcare (US), Qualcomm Life (US), Honeywell Life Care Solutions (US), SAP (Germany), Siemens AG (Germany), STANLEY Healthcare (US), Cerner Corporation (US) and McKesson (US).
Key growth factors
Initiatives taken by governments for the implementation of IT solutions in healthcare, rise in government expenditure on healthcare systems and increase in the number of skilled IT experts are the major factors favoring the adoption of healthcare IT solutions in not only developed regions but also in emerging markets. The factors that drive the market growth are machine learning, artificial intelligence, cloud computing services, RFID and others.
Threats and key players
The smart hospital has cyber-attacks as the major threat. The increasing number of ransomware cases and distributed denial of security (DDoS) attacks is just a glimpse of things to come. The introduction of Internet of Things (IoT) components in the hospital ecosystem increases the attack, rendering hospitals even more vulnerable to cyber-attacks. Also, smart hospitals have robotic process automation in which security issues may arise when a particular susceptibility is introduced in the programming system of a medical robot. This can significantly compromise healthcare quality.
Market segment by Region/Country including:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America Brazil, Argentina, Colombia and Chile etc.)
- Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
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- 3. Get specific drivers and challenges for the global smart hospital market and its segments by product (smart pills, mHealth, telemedicine, electronic health record and others), by application (remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging and medical assistance) and by AI (offering and technology).
- 4. Recognize major competitors' business and market dynamics, and respond accordingly.
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Key points from TOC
7 Smart Hospital Manufacturing Cost Analysis
7.1 Smart Hospital Key Raw Materials Analysis
7.1.1 Key Raw Materials
7.1.2 Price Trend of Key Raw Materials
7.1.3 Key Suppliers of Raw Materials
7.1.4 Market Concentration Rate of Raw Materials
7.2 Proportion of Manufacturing Cost Structure
7.2.1 Raw Materials
7.2.2 Labor Cost
7.2.3 Manufacturing Expenses
7.3 Manufacturing Process Analysis of Smart Hospital
8 Industrial Chain, Sourcing Strategy and Downstream Buyers
8.1 Smart Hospital Industrial Chain Analysis
8.2 Upstream Raw Materials Sourcing
8.3 Raw Materials Sources of Smart Hospital Major Manufacturers in 2018
8.4 Downstream Buyers
9 Marketing Strategy Analysis, Distributors/Traders
9.1 Marketing Channel
9.1.1 Direct Marketing
9.1.2 Indirect Marketing
9.1.3 Marketing Channel Development Trend
9.2 Market Positioning
9.2.1 Pricing Strategy
9.2.2 Brand Strategy
9.2.3 Target Client
9.3 Distributors/Traders List
Continue…
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Smart Hospital Market Annual Growth Rate (CAGR) of 23.29% and Reach a Market Size of USD 55.76 BN by 2023
A closer look at the Smart Hospital Market aspects including but not limited to market segmentation by the end-user, end-use, geography, type, and application forms an integral part of the research report.