Smart Hospitals Market To Witness A Robust CAGR Of Around 20% On The Back Of Growing Demand For Improved Healthcare Services By 2027

Research Nester released a report titled “Smart Hospitals Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global smart hospitals market in terms of market segmentation by hospital, by services, by component, by technology and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The concept of smart hospital involves digitalization of services and solutions offered by the hospitals in order to ensure efficient delivery of healthcare services. The market for smart hospitals is anticipated to grow by a significantly high CAGR of about 20% during the forecast period, i.e., 2019-2027. The market is segmented by hospital, by services, by component, by technology and by region. On the basis of component, the market is further segmented into hardware, system & software and services, out of which, the hardware segment is estimated to hold the largest share in the smart hospitals market. This can be attributed to the growing use of various hardware devices including smart wearable devices, implants and patient monitors in hospitals.

The market in North America is anticipated to observe the highest market growth during the forecast period on account of presence of the leading market players and advancements in medical technology in the region. Additionally, the rising demand for improved healthcare facilities in the region is another factor estimated to result in the market growth. Moreover, the market in Asia-Pacific region is estimated to grow on the back of rising healthcare expenditure in the region.

Rising Expenditure On Healthcare To Support The Market Growth

According to the World Health Organization, the health expenditure in North America was recorded to be around 16.5% of the GDP in the year 2016. The increasing healthcare expenditure by people in developed as well as developing countries is a major factor that is estimated to contribute towards the smart hospitals market growth. However, the risk of cyber-attacks in the healthcare industry which leads to leakage of private data is anticipated to restrict the market growth during the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global smart hospitals market which includes company profiling of Siemens AG (SIE), Microsoft Corporation (MSFT), Athenahealth, Inc., Qualcomm Technologies, Inc., SAP SE, Resideo Technologies, Inc., Koninklijke Philips N.V. (PHIA), Medtronic, Cerner Corporation and Samsung. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart hospitals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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