Global Smart Hospitals Market Analysis by components (hardware, software and services), by connectivity (wired and wireless), by technology (Internet of Things (IoT), Artificial intelligence and Machine Learning) and by application (remote medicine management, electronic health records, medical assistance and clinical workflow) and Forecast 2017-2025.
Healthcare sector has been witnessing an exponential growth owing to the emergence of latest technologies such as virtual reality, big data, and 3D printing. Increased adoption of connected medical devices would ensure the concept of Smart Hospital to become a reality. Smart hospital primarily focuses on the optimized and automated process with aim of enhancing the patient care procedures. It combines the technologies such as cloud computing, big data analytics and Artificial intelligence to make the hospitals smart.
Emergence of the technologies such as block-chain technology, bio-telemetry, drug development by the combination of big data and genomics forms the major key points in propelling the market growth. Increased adoption of Internet of things (IoT) in healthcare sector has served a major role in boosting the market growth. For instance: Remote monitoring concept developed with the help of IoT and cloud computing forms the best example of technological advancement in the healthcare sector. Automation in the field of surgery depicts a scenario that robotics will play a major role in smart hospitals. For instance: Adoption of Da Vinci surgical system, a robotic surgical system developed by American firm Intuitive Surgical company has conducted about 200,000 surgeries. However, the high initial cost for the infrastructure and increased complexity in the integration of the systems may result in hampering the market growth.
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The technological segmentation of smart hospital market is listed as follows: Depending upon the components used the market is segmented into hardware, software and services. Depending upon the connectivity the market is bifurcated into: wired and wireless technology. Further the wireless technology can be segmented as: Wi-Fi, Bluetooth, zigbee and others. Based on the technology adopted the market is divided into: Artificial intelligence, big data, and internet of things (IoT) and machine learning. Based on the application the market is segmented into: remote medicine management, electronic health records, medical assistance and clinical workflow.
Depending upon the geographical areas covered the market is analysed across North America, Europe, Asia Pacific and Latin America, Middle East and Africa (LAMEA). North America is projected to hold major market share owing to the increased adoption of IoT in the healthcare sectors and the adoption of strategies such as partnership, collaboration of private and public sectors focusing on the improvement of health care sector in terms of cost and technology. For instance: On February, 2018 Berkshire Hathaway, Amazon and JPMorgan announced their collaboration with aim of improving the health care sector not only in the terms of cost but also in the enhancement of technology. Asia –Pacific is expected to emerge as a fastest growing region owing to increased concern towards the healthcare mainly in the developing economies such as China, Japan, and India. The presence of major electronics manufacturer also contributes as significant factor in the development of technology resulting into the market growth.
The key vendors in the smart hospital market are: Philips , GE Healthcare , Medtronic , Qualcomm Life , Honeywell Life Care Solutions , Stanley Healthcare , SAP , Microsoft , Allscripts , Cerner Corporation , McKesson. The innovative strategy adopted by the player’s results into increased competition thereby propelling the market growth. For instance: myDIABETIZER, a cloud driven platform developed with aim of automatically collecting the health stats from the wearable technology and creates a personal risk index which is stored on cloud platform so that user can access it any time.
Global Smart Hospitals Market Segmentation:
- Wired Connectivity
- Wireless Connectivity
- Internet of Things (IoT)
- Machine Learning
- Artificial Intelligence
- Remote medicine management
- Electronic health records
- Medical assistance
- Clinical workflow
- North America (U.S and Canada)
- Europe (Germany, France, Italy and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
- LAMEA (Brazil, Turkey, Saudi Arabia, South Africa and Rest of LAMEA)
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The study for Global Smart Hospitals Market will provide market size, estimates and forecast based on the following years:
Historic data: 2015
Base Year Estimate: 2016
Forecast: 2017 to 2025
Our analyst implement several qualitative tools such as Ansoff’s Matrix, PESTEL analysis, Porter’s five force analysis among other to interpret and represent key industry findings.
1.1. Market Definition
1.2. Market Scope
2.1. Primary Research
2.2. Secondary Sources
2.3. Assumptions & Exclusions
3.1. Research Report Segmentation & Scope
3.2. Key Market Trend Analysis
3.2.1. Market Drivers
3.2.2. Market Restraint/Challenges
3.2.3. Market Opportunities
3.3. Porter’s Five Forces Analysis
3.4. Potential Venture Avenues
3.5. Market Share Analysis, 2016
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Mr. Kevin Thomas