October 22, 2021
Smart Healthcare

Smart Healthcare Market Valuation To Exceed US$ 482.25 Bn by 2027

The global smart healthcare market value is expected to reach US$ 482.25 Billion by the end of 2027, decelerating at a CAGR of 17.97% from 2020 to 2027. The report contains 150+ pages with detailed analysis.

The study provides the overall revenue of the global smart healthcare market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

The global smart healthcare market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the smart healthcare industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Growth Factors

The demand for smart health systems is likely to be accentuated by growing adoption of mHealth, government digitization initiatives for healthcare, and the prevalence of chronic disorders. The healthcare sector has been changed by digitalization. In recent years, the adoption of mHealth has increased significantly, largely due to the growing use of smartphones and digitization. In 2019, according to a United Healthcare Customer Opinion Report, approximately 37% of Americans rely on the internet or mobile apps for health-related consultations.

It is expected that growing participation by players in the industry would further drive market growth. In April 2020, for example, Phillip launched a new application for the acuity-based scoring tools of eCare Manager to scrutinize patient conditions to detect worsening or any adverse COVID-19 related patterns. Likewise, Teladoc Health released Teladoc medical professionals in October 2019 for patients suffering from challenging mental and physical health conditions. This is meant to seamlessly combine specialized medical services and doctors with their patients. During the forecast period, such developments are expected to drive the market

Report Highlights

  • North America smart healthcare market is expected to dominate the market with the share of 34.81% in 2019
  • Over the forecast period, Asia Pacific is expected to exhibit profitable growth. Due to their developed healthcare IT infrastructure and growing investments in smart healthcare, countries such as Japan, Australia and India exhibit significant potential.
  • With about 47% revenue share in 2019, mHealth dominated the smart healthcare sector.
  • At a CAGR of 22.1% from 2020 to 2027, the RFID kanban system is the fastest-growing segment.
  • The second fastest-growing market segment for smart healthcare was telemedicine.

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Regional Snapshots

At a revenue share of 34.81% in 2019, North America dominated the market. This is attributed to supportive government policies for digital health deployment and accessibility of highly digital literacy infrastructure. In addition, the presence of key market participants, increasing awareness of connected healthcare, high internet penetration, and smartphones, together with the use of health-related apps, are some of the key factors responsible for market growth. Over the forecast era, Asia Pacific is expected to exhibit profitable growth. Due to their existing healthcare IT infrastructure and increasing investments in smart healthcare, countries such as Japan, Australia and India exhibit significant potential. In developing nations such as China and India, the number of government digitalization initiatives is expected to accelerate the adoption of digital healthcare solutions such as health services.

The American Hospital Association (AMA) announced on March 10, 2020 that, due to its affordability and high health care value, approximately 76 percent of hospitals in the U.S. use telehealth to communicate with consulting professionals and patients. In addition, the successful adoption of e-prescription systems and electronic health records (EHR) in different healthcare centres is driving regional market development. In addition, in the March 2020, NHS U.K. to decrease the COVID-19 distribution, first-tier medical institutions were encouraged to use telemedicine U.K. at primary care hospitals, as of now. Nearly 340 million annual medical consultation documents are reported and just 1 percent of them are made via video calls. The NHS, however, plans to introduce telemedicine facilities by reducing face-to-face appointment by reducing.

Top Players Contending in the Market:

The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global smart healthcare market are as follows:

  • Allscripts
  • Logi-Tag Systems
  • Cerner Corporation
  • SAMSUNG
  • Cisco Systems
  • GENERAL ELECTRIC COMPANY
  • Siemens Healthcare Private Limited
  • IBM Corporation
  • BD
  • AirStrip
  • Terumo Corporation
  • eClinicalWorksResideo Technologies, Inc.
  • STANLEY Healthcare
  • Medtronic

Market Segmentation

By Product Type

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

Regional Segmentation

  • North America (U.S. and Canada)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Some of the key highlights covered in the report include:

Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global smart healthcare market. It examines trends and factors influencing demand for smart healthcare globally and gauges the impact of the same on the production.

Pricing Analysis – The report presents an exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.

Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.

Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for smart healthcare across the world.

Competitive Analysis – Some of the leading market players are profiled in the report on smart healthcare. The report offers an estimation of share individually help by the market players and determines the impact of some of their popular strategies.

COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.

Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.

Why should you invest in this report?

If you are aiming to enter the global smart healthcare market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for smart healthcare are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Smart Healthcare Market, By Product

7.1. Smart Healthcare Market, by Product Type, 2020-2027
7.1.1. RFID Kanban Systems
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. RFID Smart Cabinets
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Electronic Health Records (EHR)
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Telemedicine
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. MHealth
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Smart Pills
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Smart Syringes
7.1.7.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Smart Healthcare Market, Regional Estimates and Trend Forecast

8.1. North America
8.1.1. Market Revenue and Forecast, by Product (2016-2027)
8.1.2. U.S.
8.1.3. Rest of North America
8.1.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.2. Europe
8.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.2. UK
8.2.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.3. France
8.2.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.4. Rest of Europe
8.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.3. APAC
8.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.2. India
8.3.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.3. China
8.3.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.4. Japan
8.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.5. Rest of APAC
8.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.4. MEA
8.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.2. GCC
8.4.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.3. North Africa
8.4.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.4. South Africa
8.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.5. Rest of MEA
8.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.5. Latin America
8.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.5.2. Brazil
8.5.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.5.3. Rest of LATAM
8.5.3.1. Market Revenue and Forecast, by Product (2016-2027)

Chapter 9. Company Profiles

9.1. Allscripts
9.1.1. Company Overview
9.1.2. Product Offerings
9.1.3. Financial Performance
9.1.4. Recent Initiatives
9.2. Logi-Tag Systems
9.2.1. Company Overview
9.2.2. Product Offerings
9.2.3. Financial Performance
9.2.4. Recent Initiatives
9.3. SAMSUNG
9.3.1. Company Overview
9.3.2. Product Offerings
9.3.3. Financial Performance
9.3.4. Recent Initiatives
9.4. Cisco Systems
9.4.1. Company Overview
9.4.2. Product Offerings
9.4.3. Financial Performance
9.4.4. Recent Initiatives
9.5. GENERAL ELECTRIC COMPANY
9.5.1. Company Overview
9.5.2. Product Offerings
9.5.3. Financial Performance
9.5.4. Recent Initiatives
9.6. Siemens Healthcare Private Limited
9.6.1. Company Overview
9.6.2. Product Offerings
9.6.3. Financial Performance
9.6.4. Recent Initiatives
9.7. IBM Corporation
9.7.1. Company Overview
9.7.2. Product Offerings
9.7.3. Financial Performance
9.7.4. Recent Initiatives
9.8. BD
9.8.1. Company Overview
9.8.2. Product Offerings
9.8.3. Financial Performance
9.8.4. Recent Initiatives
9.9. AirStrip
9.9.1. Company Overview
9.9.2. Product Offerings
9.9.3. Financial Performance
9.9.4. Recent Initiatives
9.10. Terumo Corporation
9.10.1. Company Overview
9.10.2. Product Offerings
9.10.3. Financial Performance
9.10.4. Recent Initiatives
9.11. eClinicalWorksResideo Technologies, Inc.
9.11.1. Company Overview
9.11.2. Product Offerings
9.11.3. Financial Performance
9.11.4. Recent Initiatives
9.12. STANLEY Healthcare
9.12.1. Company Overview
9.12.2. Product Offerings
9.12.3. Financial Performance
9.12.4. Recent Initiatives
9.13. Medtronic
9.13.1. Company Overview
9.13.2. Product Offerings
9.13.3. Financial Performance
9.13.4. Recent Initiatives

Chapter 10. Research Methodology

10.1. Primary Research
10.2. Secondary Research
10.3. Assumptions

Chapter 11. Appendix

11.1. About Us
11.2. Glossary of Terms

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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