Smart Hospital Market Opportunities, Business Forecast To 2028

 The global smart hospital market size was estimated to reach USD 67500.60 Million by 2028 growing at a CAGR of 24% during 2022- 2028. A smart hospital is one in which technology and design are used to improve patient care. A smart hospital is a technical breakthrough in the healthcare sector that seeks and provide a wide range of services in order to improve the quality of health care and operating excellence. AI, active RFID (Radio Frequency Identification), Wi-Fi, sensors, mobile apps, integration platforms, wearables, and other technology are all employed in smart hospitals. Smart hospitals also use environmentally friendly flooring, paints, furniture, and furnishings to decrease pollution and reduce their influence on the environment.

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The market for smart hospitals is largely driven by the continual upgrade of current healthcare infrastructures for improved patient health management. Furthermore, the market is being bolstered by considerable development in the healthcare information technology (IT) industry, as well as the rising prevalence of automated medical processes. The industry is being propelled forward by rising levels of urbanization and rising consumer spending on high-end medical care. Furthermore, as more people become aware of the various advantages of smart hospitals in terms of delivering faster workflow, streamlined administration, and enhanced patient data storage, their demand is rising globally. In accordance with this, the growing elderly population, which is more vulnerable to major medical problems, is driving the demand for real-time, active monitoring of health issues through smart healthcare systems. With the abrupt emergence of the COVID-19 pandemic, virtual care systems are quickly being used for remote health monitoring and telemedicine services, further propelling the virtual care industry forward. Furthermore, the market is projected to be driven in the future years by the increasing integration of smart hospitals with different sophisticated technologies including as AI, Cloud computing, Big Data, Picture Archiving and Communication System (PACS), Radiology Information Systems (RIS), and others.

The global Smart Hospital Market Segmentation:

1) By Component: Software, Hardware, Services.

2) By Technology: Cloud Computing, Artificial Intelligence, Wearable Technologies, Radio Frequencies Identification, Others.

3) By Application: Remote Medicine Management, Medical Connected Imaging, Medical Assistance, Electronic Health Record & Clinical Workflow, and Outpatient Vigilance

Owing to the rising use of sophisticated technology by healthcare institutions, North America is projected to retain a prominent place in the world smart hospitals market. In the projection period of 2020 to 2027, Asia-Pacific is anticipated to expand at the fastest pace due to an increase in the number of clinics and surgical centers, as well as better healthcare infrastructure.

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Some of the major key players in smart hospital market, which includes Medtronic (Ireland), Philips (Netherlands), GE Healthcare (US), Siemens AG (Germany), Qualcomm Life (US), Allengers (India), Athenahealth (US), AdhereTech (US), Cerner Corporation (US), McKesson (US), Jude Medical (US), SAMSUNG (South Korea), Renesas Electronics Corporation (Japan), Honeywell Life Care Solutions (US)

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