Market Research Future published a research report on “Smart Hospital Market Research Report – Global Forecast till 2025” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2025.
The global smart hospital market is projected to thrive at a CAGR of 21.5% during the forecast period from 2018 to 2025. As per the analysis conducted by Market Research Future Reports (MRFR), the expeditious integration of IoT in healthcare is likely to drive the global smart hospital market 2020. The demand for an economical method of healthcare medical service is likely to propel the Smart Hospital Market further. Today, the healthcare sector is making an abundant investment in developing technology to transform conventional hospitals into smart hospitals. The smart hospitals are mainly focusing on improving the customer experience by attaining expertise in areas such as IT infrastructure & operation, facility design, MedTech infrastructure, and others. Further, other factors such as chronic diseases and the ageing population are mounting the pressure on healthcare institutions for an efficient procedure. Therefore more hospitals are inclining towards the smart hospitals. In addition, the adoption of blockchain technology is further anticipated to fuel the market.
On the contrary, the operation of advanced connected equipment on a large scale demands expertise which is where most of the developing countries lack. Also, the outbreak of COVID-19 is estimated to change the market trajectory. The data experts at MRFR are evaluating the market and assessing the factors augmenting and impeding the market. We will provide an impact analysis report on COVID-19.
The notable players operating in global Smart Hospital market are listed as GE Healthcare, Honeywell Life Care Solutions, Medtronic PLC., Qualcomm Life, Koninklijke Philips N.V., Cerner Corporation, Adhere Tech, Siemens Healthineers, Mckesson Corporation, and Allengers Groups.
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MRFR report offers a holistic impression of the smart hospital market with segmentation which includes segments such as type and application.
In terms of type segment, the market has included speciality, general services and super-speciality.
In terms of application segment, the smart hospital market has included outpatient vigilance, remote medicine management, medical assistance, electronic health record and clinic workflow, connected medical imaging.
North America held the leading market share in the global Smart Hospital market back in 2018 and still making its mark. The factors behind the expansion of the market credits to the well-established and aware healthcare services and infrastructure and rise in the adoption of artificial intelligence software and devices across various hospitals settings.
APAC region grabs a host of opportunities for the growth of the smart hospital market and is likely to capture a CAGR of 25.8% over the assessment period. The speedy expansion of the healthcare sector in developing regions such as China and India acts as a bonus for the growth of the market. With this, government initiatives towards the modernization of the healthcare sector are likely to create a favourable environment for the growth of the smart hospital market in APAC.
Whereas, the Rest of the World is predicted to grow at a moderate rate in the next few years.
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