Global Smart Healthcare Technologies and Products Market: Current Analysis and Forecast (2020-2026)
発行: UnivDatos Market Insights Pvt Ltd
ページ情報: 英文 152 Pages
Current era is the one of informatization, with technology advancement and scientific theories, conventional medicines with biotechnology as its core part has slowly transformed to digitization. And smart healthcare is featuring a new information technology generation. Smart healthcare is not just only a modest technological advancement, multi-level change, but are also all-round. This change is embodied in the following: informatization construction changes (from clinical in formalization to regional medical informatization), medical model changes (from disease-centered to patient-centered care), changes in medical management (from general management to personalized management),and alternation in the methods for disease diagnosis & prevention and treatment (from focusing on disease treatment to focusing on preventive healthcare). These modification in healthcare technology with the increasing adoption of the smart healthcare technologies focus on meeting the patients' needs of people while refining the efficiency of medical care services, which importantly improves the medical and health service experience, and represent the future development direction of modern medicine. Organizations today increasingly realize they can no longer focus on just providing treatment; they need to offer an experience. An increasing number of products today both consume and generate data, and many are interconnected through the smart technologies. Because of this increased intelligence, their usage can be monitored, additional services can be proactively offered, or maintenance can be provided when a problem is detected. Smart technologies are the cause of large-scale and sweeping advancement across multiple aspects of business, providing unparalleled opportunities for value creation and capture, while also representing a major source of risk. The rapid advances in smart healthcare technology are redefining the healthcare infrastructure.
Smart healthcare technologies are the integration of smart technology into all areas of a healthcare, fundamentally changing how organizations operate and deliver value to stakeholders. It affects all sectors of society, in particular economies. Healthcare facilities such as hospitals, clinics, ambulatory surgery center are now being provided with an opportunity to radically change their infrastructure by new technologies like electronic health record, RFID systems, smart pill, smart syringes and other. In 2019, Wuhan Union Hospital conducted study on "Smart healthcare: making medical care more intelligent" and concluded that "the prospects for smart healthcare were vast. For individual users, smart healthcare could facilitate better health self-management. Also, timely and appropriate medical services could be accessed when needed, and the content of medical services are anticipated to be more personalized. For medical institutions, smart healthcare could reduce costs, relieve personnel pressure, achieve unified management of materials and information, and improve the patient's medical experience. For research institutions, smart healthcare could reduce the cost of research, reduce research time, and improve the overall efficiency of research. Regarding macro decision-making, smart healthcare could improve the status of medical resource inequality, push the process of medical reform, promote the implementation of prevention strategies, and reduce social medical costs". A smart healthcare technologies and products adoption for advancement requires any sort of enterprise to shift much of its infrastructure from its conventional methods and technologies to smart healthcare technologies and products.
A smart healthcare technologies and products offers great opportunities:
Based on type, the smart healthcare technologies and products market is bifurcated into electronic health record, RFID systems, smart pill, smart syringes, and others. Electronic health record market generated revenue of US$ 27.7 billion in 2019 and is expected to grow at a CAGR of 6.4% during the forecast period to reach a market valuation of US$ 50.9 billion by 2027. However, Smart Pill market is expected to witness the highest CAGR growth during the forecast period 2021-2027. Based on application, the smart healthcare technologies and products market is fragmented into health data storage and exchange, monitoring and treatment and inventory management. Health data storage and exchange generated revenue of US$ 28.5 billion in 2019. The market is expected to grow at a CAGR of 6.4% during the forecast period to reach a market valuation of US$ 52.6 billion by 2027. However, monitoring and treatment is expected to witness the highest CAGR growth during the forecast period 2021-2027.
Based on end user, the smart healthcare technologies and products market is fragmented into hospitals, home care settings and others. Hospitals generated revenue of US$ 29.9 billion in 2019 and is expected to grow at a CAGR of 6.75% during the forecast period to reach a market valuation of US$ 43.6 billion by 2027. For better understanding of the market penetration of smart healthcare technologies and products, the market is analyzed based on its worldwide presence in the region such as North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India Australia and Rest of Asia-Pacific), and rest of the world. North America constitutes a major market for smart healthcare technologies and products market. Some of the major players operating in the market include IBM Corporation, Allscripts Healthcare Solutions, Inc., eClinicalWorks, Medtronic, Olympus Corporation, Terumo Corporation, Cerner Corporation, General Electric Company, Siemens Healthcare Private Limited, and BD.
The global smart healthcare technologies and products market was valued US$ 40.5 billion in 2019 and is projected to expand significantly with the CAGR of 7.15% from 2021-2027. The global smart healthcare technologies and products market is expected to witness a boost, owing to the increasing prevalence of Internet of Things, rising cases of chronic diseases among the population, and growing elderly population worldwide.