Global Smart Healthcare Market Overview
Smart healthcare provides technologically advanced IT hardware and software products for superior healthcare service. Smart healthcare product utilizes advanced communication technologies that operate on a digital, smartphone, and cloud-based platforms in order to provide better healthcare to patients. For example, smart healthcare product uses platforms such as electronic health record which offers better clinical outcome and efficient patient management. Smart system reals on energy efficiency, network capabilities, and closed-loop control. Additionally, the smart healthcare products guide to improve diagnostic tools, treatment, and quality of life for patients. The global smart healthcare market accounted for US$ 151 billion in 2019 and is estimated to be US$ 717.9 billion by 2029 and is anticipated to register a CAGR of 17.0%
Impact of Covid-19 pandemic on market
The outbreak of COVID-19 has raised the demand for a number of kits and rapid tests. As screening is being performed at a massive scale during this outbreak hotspot. There is a huge demand for Covid-19 screening as a crucial factor for revenue growth in this market space. Additionally, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who might need critical care. Besides, there is an urgent requirement for a rapid acceleration in the manufacturing process for an extensive range of test-kits. This report will quantify the impact of this pandemic on the smart healthcare market.
Global Smart Healthcare Market Dynamics
Growing participation from the industry players is projected to boost the target market growth. For instance, in April 2020, Phillip launched a new application for the care manager acuity-based scoring tools to monitor patient conditions to detect any adverse trends or deteriorations related to COVID-19. Likewise, in March 2020, Siemens Healthineers introduced Teamplay digital health platform. It is aimed to help healthcare by offering digital transformation and eases quick access to operational and clinical solutions. Further, in April 2020, Proxxi, a Canadian firm introduced a wearable device, Halo. This device is manufactured to safeguard compliance with social distancing at a workplace during the ongoing global COVID-19 pandemic. This device would continually guide separation to ensure proper social distancing.
Supportive government programs
Supportive government programs are expected to propel the growth in the global market. For instance, in March 2020, the Quebec government in collaboration with the Canadian Medical Association (CMA) had planned to enlarge the access of telehealth services across different provinces of Canada such as Alberta, British Columbia, New Brunswick, Ontario, Manitoba, Newfoundland and, and others. Such challenges are projected to lead the forefront of digital patient-oriented healthcare services worldwide. Additionally, in March 2020, the NHS U.K. fortified first-tier medical institutions to utilize telemedicine to decrease the spread of COVID-19. Furthermore, the NHS is forecasting to implement telemedicine services by decreasing face-to-face consultation.
Conversely, a lack of skilled and trained professionals coupled with the high price of smart healthcare products is restraining the growth of this market.
Global Smart Healthcare Market Segmentation
The global smart healthcare market is segmented based on product type, industrial vertical, end-user, and region.
On the basis of the product type, the global smart healthcare market is segmented into smart syringes, smart pills, smart RFID cabinets, electronic health care, telemedicine, and others. On the basis of industrial vertical, the target market is segmented into health data storage and exchange, monitoring and treatment, and inventory management. Based on end-user, the target market is segmented into hospitals, home care settings, and others.
In the region, the global smart healthcare market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is projected to lead the global smart healthcare market in terms of revenue in the coming years, due to technological advancements and the growing adoption of smart devices in the healthcare industry throughout various countries in this region. The market in the Asia Pacific is anticipated to witness noteworthy growth in terms of revenue during the forecast period, due to improved healthcare infrastructure and the growing adoption of mobile telemedicine across various countries in this region.
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Attribute |
Details |
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The base year for estimation |
2019 |
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Forecast period |
2019 – 2029 |
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Market representation |
Revenue in USD Million & CAGR from 2019 – 2029 |
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Market Segmentation |
By Product Type- Smart Syringes, Smart Pills, Smart RFID Cabinets, Electronic Health Care, Telemedicine, and Others By Industrial Vertical– Health Data Storage and Exchange, Monitoring and Treatment, and Inventory Management By End-user– Hospitals, Home Care Settings, and Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global smart healthcare market report based on product type, industrial vertical, end-user, and region.
Global Smart Healthcare Market, By Product Type:
- Smart Syringes
- Smart Pills
- Smart RFID Cabinets
- Electronic Health Care
- Telemedicine
- Others
Global Smart Healthcare Market, By Industrial Vertical:
- Health Data Storage and Exchange
- Monitoring and Treatment
- Inventory Management
Global Smart Healthcare Market, By End-user:
- Hospitals
- Home Care Settings
- Others
Global Smart Healthcare Market, By Region:
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-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
-
Global Smart Healthcare Market Key Players
The key players operating in the global smart healthcare market include AirStrip Technologies Inc., McKesson Corporation, Apple Inc., AT&T Inc., Brooks Automation, Cerner Corporation, Cisco, Allscripts Healthcare Solutions, GE Healthcare, and Hurst Green Plastics Ltd. Players adopted several strategic policies such as product launches and partnerships, mergers and acquisitions, and collaborations to gain more penetration. For instance, in April 2020, IBM developed AI-powered technologies to help research and health community to speed up the discovery of medical insights and treatments for COVID-19 by introducing COVID-19 High-Performance Computing Consortium with the collaboration with the U.S. Department of Energy and White House Office of Science and Technology.
Global Smart Healthcare Market Key Issues Addressed
Key Issues Addressed
Global Smart Healthcare Market Company Profile
- AirStrip Technologies, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- McKesson Corporation
- Apple, Inc.
- AT&T, Inc.
- Brooks Automation
- Cerner Corporation
- Cisco
- Allscripts Healthcare Solutions
- GE Healthcare
- Hurst Green Plastics, Ltd.
“*” marked represents similar segmentation in other categories in the respective section
Global Smart Healthcare Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Smart Healthcare Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Industrial Vertical
- Market Snippet, By End-user
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Smart Healthcare Market, By Product Type, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Smart Syringes
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Smart Pills
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Smart RFID Cabinets
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Electronic Health Care
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Telemedicine
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Smart Healthcare Market, By Industrial Vertical, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Health Data Storage and Exchange
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Monitoring and Treatment
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Inventory Management
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Smart Healthcare Market, By End-user, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Hospitals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Home Care Settings
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Smart Healthcare Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Industrial Vertical, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Industrial Vertical, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Industrial Vertical, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Industrial Vertical, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Industrial Vertical, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- AirStrip Technologies, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- McKesson Corporation
- Apple, Inc.
- AT&T, Inc.
- Brooks Automation
- Cerner Corporation
- Cisco
- Allscripts Healthcare Solutions
- GE Healthcare
- Hurst Green Plastics, Ltd.
- AirStrip Technologies, Inc.
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global smart healthcare market is segmented based on product type, industrial vertical, end-user, and region.
Growing participation from the industry players is the major factor driving the growth of the global market.
The market in North America is projected to lead the global smart healthcare market in terms of revenue in the coming years, due to technological advancements and the growing adoption of smart devices in the healthcare industry throughout various countries in this region.
Players adapted several strategic policies such as product launches and partnerships, mergers and acquisitions, and collaborations to gain more penetration. For instance, in April 2020, IBM developed AI-powered technologies to help research and health community to speed up the discovery of medical insights and treatments for COVID-19 by introducing the COVID-19 High-Performance Computing Consortium with the collaboration with the U.S. Department of Energy and White House Office of Science and Technology.