Smart Healthcare Market Size is projected to reach USD 468 Billion by 2030, growing at a CAGR of 13.4%: Straits Research

The global market for smart healthcare was estimated at USD 151 billion in 2021 and is predicted to grow at a CAGR of 13.4% from 2022 to 2030, reaching $468.27 billion by 2030. North America dominated the smart healthcare market in 2021, with a revenue share of more than 33.0%.

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New York, United States, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Smart healthcare items are the sort of instrument that employs advance technology so that they may supply better therapy to the patients and progress the quality of the living. They give exact data connected to the patients and allow the professionals to treat their patients effectively.

Smart healthcare is defined as the incorporation of digital technology into traditional healthcare delivery systems. This makes conventional healthcare delivery methods smart healthcare. The quality of medical facilities may be improved, and the patient's experience can be improved as well, via the use of smart healthcare.


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IoT (Internet of Things) is gaining popularity

The Internet of Things helps close the informational divide between analogue and digital data sources by enabling real-time patient monitoring. The infrastructure of the internet of things helps improve patient access to services, lessens the operational strain on healthcare facilities, and provides support for the growth of digital ecosystems inside healthcare organisations. In order to deliver treatment that is both timely and of higher quality, healthcare companies are transitioning to linked hospital infrastructure.


Rise in the use of mobile Health and Rise in government attempts to digitise

It is anticipated that factors such as the rapidly escalating usage of mobile health (mHealth), the rise in government attempts to digitise healthcare, and the prevalence of chronic illnesses will all contribute to the expansion of the worldwide smart healthcare market throughout the forecast period.

Rising technological breakthroughs in the healthcare industry, such as the internet of things, are anticipated to provide profitable opportunities for businesses operating in the worldwide smart healthcare products market. By utilising cutting-edge sensors and computer networking technologies, the revolution brought on by the internet of things has caught up to the growing need for intelligent medical supplies all over the world


Report Scope

Report MetricDetails
  Market SizeUSD 468.27 Billion by 2030
  CAGR13.4% (2020-2030)
  Historical Data2019-2020
  Base Year2021
  Forecast Period2022-2030
  Forecast UnitsValue (USD Billion)
  Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments CoveredBy Product, and Region,
  Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
  Key Companies Profiled/VendorsAirStrip Technologies Inc, Allscripts Healthcare Solutions, IBM, Apple Inc., Cisco, GE Healthcare, Samsung Electronics Corporation, Siemens Medical Solutions,
  Key Market OpportunitiesRising technological breakthroughs in the healthcare industry, such as the internet of things, are anticipated to provide profitable opportunities for businesses operating in the worldwide smart healthcare products market.
  Key Market DriversIoT (Internet of Things) is gaining popularity

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Regional Overview of Smart Healthcare Market

North America dominated the smart healthcare market in 2021, with a revenue share of more than 33.0%. This is because of government initiatives that encourage the deployment of digital health and infrastructure that is accessible to those who have a high level of digital literacy. Furthermore, the presence of important market participants, increased awareness about linked healthcare, high internet and smartphone penetration, as well as the use of health-related applications, are just a few of the main drivers driving the smart healthcare industry forward.


Key Highlights

  • The global market for smart healthcare size was estimated at USD 151 billion in 2021. The market is projected to grow from USD 171.23 billion in 2022 to $ 840.83 billion by 2030, increasing at a CAGR of 13.4% during the forecast period 2022 to 2030.
  • Use of IoT is increasing rapidly which will help in the growth of the market.
  • Increase in the use of mobile health and rise in government attempts to digitise will drive the market.
  • Based on Product the global smart healthcare market is divided into the following categories: RFID Kanban Systems, RFID Smart Cabinets, Electronic Health Records, Telemedicine, mHealth, Smart Pills, Smart Syringes. Based on product, the mHealth sector led the smart healthcare market in 2021, accounting for over 39.0 percent of revenue.
  • RFID Kanban System will be the fastest-growing category. Supply chain management, automation, real-time information, and asset monitoring are all major developments that are assisting in RFID adoption.
  • Telemedicine was the second-fastest-growing area of the smart healthcare industry. Following the current COVID-19 epidemic, healthcare professionals are expected to increase their adoption and use of telemedicine to better communicate with their patients.
  • North America dominated the smart healthcare market in 2021, with a revenue share of more than 33.0%. This is because of government initiatives that encourage the deployment of digital health and infrastructure that is accessible to those who have a high level of digital literacy.


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Competitors in Smart Healthcare Market

  • AirStrip Technologies Inc,
  • Allscripts Healthcare Solutions,
  • IBM,
  • Apple Inc.,
  • Cisco,
  • GE Healthcare,
  • Samsung Electronics Corporation,
  • Siemens Medical Solutions,
  • Pepperl+Fuchs


Segmentation of Smart Healthcare Market

By Product

  • RFID Kanban Systems
  • RFID Smart Cabinets
  • Electronic Health Records (EHR)
  • Telemedicine
  • mHealth
  • Smart Pills
  • Smart Syringes

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE


TABLE OF CONTENT

    1. Introduction
      1. Smart Healthcare Market Definition
      2. Smart Healthcare Market Scope
    2. Research Methodology
      1. Primary Research
      2. Research Methodology
      3. Assumptions & Exclusions
      4. Secondary Data Sources
    3. Market Overview
      1. Report Segmentation & Scope
      2. Value Chain Analysis: Smart Healthcare Market
      3. Key Market Trends
        1. Drivers
        2. Restraints
        3. Opportunities
      4. Porter’s Five Forces Analysis
        1. Bargaining Power of Suppliers
        2. Bargaining Power of Buyers
        3. Threat of Substitution
        4. Threat of New Entrants
        5. Competitive Rivalry
      5. Market Share Analysis
    4. By Product Overview
      1. Introduction
        1. Market Size & Forecast
      2. RFID Kanban Systems
        1. Market Size & Forecast
      3. RFID Smart Cabinets
        1. Market Size & Forecast
    5. Regional Overview
      1. Introduction
        1. Market Size & Forecast
      2. America
        1. North America
        2. U.S.
          1. By Product
        3. Canada
          1. By Product
        4. Mexico
          1. By Product
        5. Latin America
          1. By Product
      3. Europe
        1. Market Size & Forecast
        2. Germany
          1. By Product
        3. France
          1. By by Product
        4. U.K.
          1. By Product
        5. Italy
          1. By Product
        6. Spain
          1. By Product
        7. Rest of Europe
          1. By Product
      4. Asia Pacific
        1. Market Size & Forecast
        2. Japan
          1. By Product
        3. China
          1. By Product
        4. Australia
          1. By Product
        5. India
          1. By Product
        6. South Korea
          1. By Product
        7. Rest of Asia-Pacific
          1. By Product
      5. Middle East & Africa
        1. Market Size & Forecast
        2. Saudi Arabia
          1. By Product
        3. South Africa
          1. By Product
        4. Kuwait
          1. By Product
        5. Rest of Middle East & Africa
          1. By Product
    6. Company Profile
      1. AirStrip Technologies Inc
        1. Company Overview
        2. Financial Performance
        3. Recent Developments
        4. Product Portfolio
      2. Allscripts Healthcare Solutions
        1. Company Overview
        2. Financial Performance
        3. Recent Developments
        4. Product Portfolio
      3. IBM
        1. Company Overview
        2. Financial Performance
        3. Recent Developments
        4. Product Portfolio
    7. Conclusion & Recommendation
    8. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/smart-healthcare-market/toc 


Recent developments by Key Players

  • MSF launched a free telemedicine hotline for COVID-19 patients in India in September 2021.
  • IBM, collaborated with the US Department of Energy and the White House Office of Science and Technology, launched the COVID-19 High-Performance Computing Consortium in April 2020, releasing AI-powered technologies to assist the research and health communities in accelerating the discovery of medical insights and treatments for COVID-19.
  • Siemens Healthineers will introduce the Teamplay digital health platform in March 2020. Its goal is to enable healthcare to deliver digital transformation and make clinical and operational solutions more accessible.


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Tags

Smart Healthcare Market Smart Healthcare Market Share digital technology Internet of Things Mobile Health digitise mHealth RFID

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