Smart Hospital Market : Global Market Estimation, Dynamics, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Global Smart Hospital Market By Component (Software, Hardware, 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 Work Flow, and Outpatient Vigilance), By Connectivity (Wired, Wireless), and Geography


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Global Smart Hospital Market



Global Smart Hospital Market Report Description:

Global smart hospital market report gives comprehensive outlook on smart hospital across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global smart hospital market gives historical, current, and future market sizes (US$ Mn) on the basis of component, technology, application, connectivity, and region. This report studies global smart hospital market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global smart hospital market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global smart hospital market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global smart hospital market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global smart hospital products.

The global smart hospital market estimated to be valued US$ XX Mn in 2019 and poised to grow at significant CAGR over 2020-2026 owing increasing occurrence of chronic diseases and rising need for the cost-effective solutions in hospitals and modernization of healthcare infrastructure fuels demand for smart hospitals. Moreover, Development of IoT technologies in healthcare, increasing penetration of connected devices and instruments in hospitals and rising government investments in healthcare sector and growth potential in emerging countries boosts the growth of the market over the forecast period.


High Cost Associated with the Smart Hospitals  

Healthcare IT systems and instruments are fairly high-priced solutions. Moreover, the maintenance and software update costs of these systems are on higher side. Support and maintenance services, which includes software upgrades according to user’s requirement, represent a recurring expenditure amounting to almost 30% of the total cost of the ownership. Moreover, lack of internal IT expertise in the healthcare industry and high cost of connected systems, increasing interoperability risk and lack of governance standards are the major impeding factors for the market.


North America Accounts for Larger Market Revenue Share in Global Smart Hospital Market

North America accounted for larger revenue share in global smart hospital market with significant CAGR and is expected to grow over the forecast years owing to the presence of well-established healthcare infrastructure and availability of skilled operators and presence of renowned hospitals in the region and increasing number of hospitals and surgical centers in the region and mergers and acquisitions among the market players fuels the growth of the market over the forecast period. Asia Pacific is expected to significant growth over the forecast years due to growth of healthcare industry in China, Japan, India, and South Korea.


Competition Assessment

  • Medtronic (Ireland)
  • Philips (Netherlands)
  • GE Healthcare (US)
  • Siemens AG (Germany)
  • Qualcomm Life (US)
  • Allengers (India)
  • Athenahealth (US)
  • AdhereTech (US)
  • Cerner Corporation (US)
  • McKesson (US)
  • Jude Medical (US)
  • SAMSUNG (South Korea)
  • Renesas Electronics Corporation (Japan)
  • Honeywell Life Care Solutions (US)


Key Findings of the Report:


  • Global smart hospital market expanding at significant CAGR over 2020 to 2026 owing to development in the healthcare sector and well-established infrastructure
  • Based on component, Hardware segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
  • Players focusing on innovation of newer products and collaboration strategies to retain market position in global smart hospital market


Detailed Segmentation


By Component

  • Software
  • Hardware
  • 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 Work Flow
  • Outpatient Vigilance

By Connectivity

  • Wired
  • Wireless




North America

  • US
  • Canada


  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe


  • Japan
  • China
  • India
  • Australia & New Zealand
  • ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Venezuela
  • Rest of Latin America

Middle East and Africa (MEA)

  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA


Key Features of the Report:


  • The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market



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