Global Smart Healthcare Market, By Product Type (Telemedicine, Electronic Health Records, M-Health, Smart Pills and Syringes, RFID Kanban Systems, Smart RFID Cabinets, Others), Application (Storage and Inventory Management, Monitoring, Treatment, Others), End User (Hospitals, Home Care Settings, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
The smart healthcare market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 345.59 billion by 2028 and is expected grow at a CAGR of 10.25% in the above mentioned forecast period.
Smart healthcare products are the type of tool that uses advance technology so that they can provide better treatment to the patients and progress the quality of the life. They provide precise data related to the patients and help the clinicians to treat their patients better.
The rise in prevalence of Internet of Things is amongst the significant factors expected to fuel the growth and demand of smart healthcare market. In addition, the rapid increase in adoption of mHealth, rise in government initiatives to digitize healthcare and the increase in prevalence of chronic disorders are also anticipated to push the growth in the global smart healthcare market over the forecast period of 2021 to 2028. Likewise, the rapid rise in geriatric population, rapid change in lifestyle along with increase in government initiatives for the digitization of healthcare infrastructure are also projected to lift the growth of the market. Furthermore, the high demand for miniature electronic devices to obtain real-time information is also expected to act as significant factors which will flourish the growth of the smart healthcare market.
The rapid increase in usage of smartphones and digitization and high R&D investment on smart healthcare products are expected to offer significant growth opportunities for the smart healthcare market in the forecast period of 2021 to 2028.
However, the high price of the smart healthcare products and high investment cost are estimated to limit the growth of the smart healthcare market, whereas, the lack of skilled and trained professional can challenge the growth of the smart healthcare market.
This smart healthcare market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Healthcare Market Scope and Market Size
The smart healthcare market is segmented on the basis of product type, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- The product type segment of the smart healthcare market is segmented into telemedicine, electronic health records, m-health, smart pills and syringes, RFID Kanban systems, smart RFID cabinets and others.
- On the basis of application, the smart healthcare market is segmented into storage and inventory management, monitoring, treatment and others.
- The smart healthcare market has also been segmented based on the end user into hospitals, home care settings and others.
Smart Healthcare Market Country Level Analysis
The smart healthcare market is analyzed and market size insights and trends are provided by country, product type, application and end user as referenced above.
The countries covered in the smart healthcare market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region leads the smart healthcare market owing to rise in government policies for the deployment of digital health and the availability of infrastructure with high digital literacy. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the well developed healthcare IT infrastructure and increase in investments in smart healthcare.
The country section of the smart healthcare market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The smart healthcare market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for smart healthcare market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the smart healthcare market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Smart Healthcare Market Share Analysis
The smart healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart healthcare market.
The major players covered in the smart healthcare market report are Allscripts Healthcare, LLC, Cerner Corporation, Cisco Systems, GENERAL ELECTRIC COMPANY, IBM, LogiTag Medical Solutions, OLYMPUS CORPORATION, SAMSUNG, Siemens Healthcare Private Limited, BD, AirStrip Technologies, Inc., Terumo Corporation, Resideo Technologies, Inc., eClinicalWorks, STANLEY Healthcare, Medtronic, 3M, Apple Inc., AT&T Intellectual Property and Pepperl+Fuchs among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Smart Healthcare Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.