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The Global Smart Hospital Market was valued at USD 13.68 billion in 2016 and is projected to reach USD 95.02 billion by 2025, growing at a CAGR of 24.03% from 2017 to 2025.
A smart hospital is a hospital that relies on optimized and automated processes built on an ICT environment of interconnected assets, particularly based on Internet of things, to improve existing patient care procedures and introduce new capabilities. A smart hospital system have several benefits including - improved diagnostics and surgical ability, seamless patient flow, remote medical care, enhanced patient safety, cyber resilience, increases trustworthiness, decreased costs, improved outcomes of treatment, improved disease management, enhanced management of drugs.
1. Market Drivers
1.1 Emerging economies
1.2 Increasing government investments in healthcare sector
1.3 Adoption of connected devices and instruments in hospitals
1.4 Increasing occurrence of chronic diseases
1.5 Penetration of IoT technologies in healthcare
1.6 Improving healthcare infrastructure demand for smart hospital
1.7 Increasing need for cost-effective solutions for hospital
2. Market Restraints
2.1 Poor government standards
2.2 Increasing cost of connected systems
2.3 Poor competence in deploying IoT solutions in hospitals
The Global Smart Hospital Market is segmented on the artificial intelligence, component, connectivity, application, service rendered, and region.
1. Artificial Intelligence:
2. By Component:
3. By Connectivity:
4. By Application:
4.1 Medical Connected Imaging
4.2 Medical Assistance
4.3 Remote Medicine Management
4.4 Electronic Health Record & Clinical Workflow
4.5 Outpatient Vigilance
5. By Service Rendered:
5.2 Super Specialty
5.3 General Services
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. GE Healthcare
2. Qualcomm Life
5. Honeywell Life Care Solutions
6. Stanley Healthcare
8. Cerner Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Smart Hospital Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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