The Global Smart Healthcare Market size stood at US$ 141 billion in 2019 and is expected to grow at 14.5% through 2030. Smart Healthcare is technology integrated diagnostic tool used for treating patients and improving the quality of life using e-health, m-health and ambient assisted living services.
Rising government initiatives for the digitization of healthcare infrastructure are driving the growth of the smart healthcare market. Increasing the usage of smartphones and other digital platforms are supporting the adoption of smart healthcare solutions. The introduction of the internet of things has enabled hospitals to improve the caretaking facilities while reducing the operational costs.
Integration of IoT aid doctors to automate the workflow that includes image visualization, streamlining of healthcare delivery systems, healthcare asset tracking, patient flow analysis, and many more. Rising demand for miniature electronic devices to obtain real-time information is propelling the market demand for smart healthcare products. These miniature electronic devices are termed as smart pills that perform highly advanced functions such as sensing, imaging, and drug delivery. These pills are used for vital sign monitoring of core body temperature, pH, and internal pressures.
The government authorities are launching various initiatives to promote the digital transformation of the healthcare sector. For instance, the Indian government has launched e-health India under e-Gov initiatives to digitize the healthcare sector. This has intensified the competition in the market and is expected to contribute towards the growth of the global smart healthcare market during the forecast period.
Asia Pacific contributed a dominating share to the global Smart Healthcare market in terms of revenue and volume in 2019 and is expected to be dominating geography throughout the forecast period. Countries such as Japan, China, and India are expected to grow at a rapid pace. Increasing health awareness among the young population coupled with the rising penetration of smartphones is fueling the smart healthcare market.
Hospitals and healthcare management are using smart healthcare devices such as telemedicine, e-health solutions, assisted robots for surgery and diagnostics, etc. driving the smart healthcare market demand. North America is the largest consumer of smart healthcare devices. This region has the presence of key market players and has advanced innovative centers to carry out R&D activities. A large number of entrepreneurs are coming up with innovative ideas for the enhancement of the existing products. These factors are driving the smart healthcare market across North America.
Smart Healthcare Market Share Analysis, by Geography (2022)
The report titled “Smart Healthcare Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Smart Healthcare market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global smart healthcare market is segmented on the basis of product type, application, end user and geography. Based on product type, the global smart healthcare market is segmented into telemedicine, electronic health records, m-health, smart pills and syringes, smart RFID cabinets and others. Based on application, the global smart healthcare market is segmented into storage and inventory management, monitoring, treatment and others. Based on end user, the global smart healthcare market is segmented into hospitals, home care settings and others. Based on geography, the global smart healthcare market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Indonesia, Australia, South Korea, Taiwan, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on smart healthcare. Further, market share of prominent companies in the global smart healthcare market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the smart healthcare companies. The global smart healthcare market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the smart healthcare business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global Smart Healthcare market.
Major players active in the global smart healthcare market include Allscripts, Cisco Systems, Cerner Corporation, IBM Corporation, Logi-Tag Systems, Terumo Corporation, Olympus Corporation, GENERAL ELECTRIC COMPANY, SAMSUNG, Medtronic, Siemens Healthcare Private Limited, BD, AirStrip Technologies, Resideo Technologies, Inc., eClinicalWorks, STANLEY Healthcare.
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By End User:
By Geography :
Smart healthcare market size was worth more than USD 141 billion in 2019 and is anticipated to exhibit 14.5% CAGR through 2030.
Asia Pacific is the largest share in global Smart Healthcare Market.
The major driving factor for this industry is the large number of entrepreneurs are coming up with innovative ideas for the enhancement of the existing products.
Some key players operating in the Smart Healthcare market include Allscripts, Cisco Systems, Cerner Corporation, IBM Corporation, Logi-Tag Systems, Terumo Corporation, Olympus Corporation, GENERAL ELECTRIC COMPANY, SAMSUNG, Medtronic, Siemens Healthcare Private Limited, BD, AirStrip Technologies, Resideo Technologies, Inc., eClinicalWorks, STANLEY Healthcare.
The major applications of Smart Healthcare include Storage and inventory management, Monitoring, Treatment and Others.
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