Newark, New Castle, USA, June 05, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global smart healthcare market was conducted by Growth Plus Reports in 2022 and is valued at US$ 180.91 billion. The market is expected to hit a revenue CAGR of 13.1% to reach US$ 547.81 billion by 2031.
Analysis of the global market for smart healthcare indicates that during the forecast period, revenue share is likely to increase significantly.
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Smart Healthcare Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 180.91 billion |
| Revenue Forecast in 2031 | US$ 547.81 billion |
| CAGR | 13.1% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Product, Application, And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
The global Smart Healthcare Market is poised to experience substantial growth during the forecast period, driven by the adoption of digital technologies and growing demand for efficient and patient-centric healthcare solutions. A recently published market research report offers a comprehensive analysis of the current trends, market drivers, challenges, and growth opportunities in the field of smart healthcare.
Smart healthcare refers to the integration of advanced technologies, such as the Internet of Things (IoT), artificial intelligence (AI), big data analytics, and wearable devices, into healthcare systems to improve patient care, enhance operational efficiency, and streamline healthcare delivery. With the rapid advancement of these technologies, the healthcare industry is undergoing a significant transformation.
The market research report highlights several factors contributing to the growth of the smart healthcare market. Firstly, the increasing need for remote patient monitoring and telehealth solutions has driven the adoption of smart healthcare technologies. These technologies enable real-time monitoring of patient health, facilitate remote consultations, and provide personalized healthcare services, especially in underserved areas or for individuals with limited mobility.
Secondly, the rising prevalence of chronic diseases, aging populations, and the need for efficient healthcare management have propelled the demand for smart healthcare solutions. These technologies enable healthcare providers to gather and analyze vast amounts of patient data, leading to better diagnosis, treatment planning, and disease management.
Furthermore, the COVID-19 pandemic has acted as a catalyst in driving the adoption of smart healthcare solutions. The need for remote healthcare delivery, contactless monitoring, and efficient resource management during the pandemic has highlighted the significance of technology in healthcare.
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Recent Development in the Smart Healthcare Market:
- In September 2022, With the fourth-generation Apple Watch, Apple Inc. debuted the ECG app. This program uses the Apple Watch's electrical heart sensor to record an electrocardiogram of the user's heart and helps identify the signs of atrial fibrillation.
Competitive Landscape
A list of the prominent players operating in the global market for smart healthcare includes:
- Apple Inc.
- Samsung Electronics Corporation
- AT&T Inc.
- Brooks Automation
- Cerner Corporation
Market Segmentation:
Based on the products, the global smart healthcare market is segmented into RFID Kanban systems, RFID smart cabinets, electronic health recorders, telemedicine, mHealth, smart pills and syringes, and others regarding smart healthcare market forecast. mHealth segment accounted for the largest revenue share of the global smart healthcare market in 2022.
Based on the applications, the global smart healthcare market is collective to storage and inventory management, monitoring, treatment, and others. The monitoring segment accounted for the highest revenue share of the global smart healthcare market in 2022.
In terms of revenue, North America dominated the global market for smart healthcare in 2012. Throughout the forecast period, the demand for smart healthcare products in North America is expected to dominate the global smart healthcare products market. This is because of technological advancements, the rising adoption of smart devices in the healthcare across many countries, the rise in small and medium-sized businesses entering the market, and ongoing market consolidation efforts by leading players.
Report Coverage
Global market research on the smart healthcare market was done in-depth by Growth Plus Reports. We looked at the core market traits, noteworthy investment prospects, regional growth trends, ten-year revenue projections, rival market participants, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL SMART HEALTHCARE MARKET - ANALYSIS & FORECAST, BY PRODUCT
- RFID Kanban Systems
- RFID Smart Cabinets
- Electronic Health Recorders
- Telemedicine
- mHealth
- Smart Pills & Syringes
- Others
- GLOBAL SMART HEALTHCARE MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Storage & Inventory Management
- Monitoring
- Treatment
- Others
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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