A smart hospital signifies the hardware system which runs through software and provides services to the healthcare professional. Medical Devices are connected with a wired or wireless network for transferring the data in the central monitoring devices. Smart hospitals make comprehensive use of creative technologies to enhance care quality and patient experience while reducing costs. Globally government initiatives to digitize healthcare has transformed the healthcare industry, and it is likely to push the demand for smart healthcare systems. Mobile Health application has grown exponentially in the last few years, primarily because of the growing usage of smartphones. According to Renub Research analysis, it is assumed that by 2026 the Smart Hospital Market will be US$ 79.57 Billion.
The growing cost of healthcare has been a significant concern in most countries. However, the paradigm of disease treatment has changed to health management. There are many trends which drive the smart hospital market; the rise of informed patients, Smart hospitals has a high degree of automation, and smart healthcare system is decentralized and patient-centric. Government endeavours to digitize healthcare are likely to drive the need for smart healthcare systems worldwide.
The United States and Europe market depends on the innovation of technology which suggests that the hospital adopts the technology as early as possible. For the past decade, the United States has spent more than 17% of its GDP on healthcare each year. In Asian countries like China, the regulatory authority has set the standards for smart hospitals development. China spends about six 6% of its GDP on healthcare; costs have been rising year over year. In Japan, the new hospitals have been designed based on artificial intelligence and the internet of things as it is predicted that in future, there will be a shortage of physicians in the next five years.
The key players, such as SAP SE have launched a startup program focusing on healthcare for the development of hassle-free services to patients from smart hospitals. In 2018, Humber became the first hospital in Canada to recruit a humanoid robot.
COVID effect of Smart Hospital Industry
Smart hospitals can better manage the COVID pandemic than non-smart hospitals. Smart hospitals are able to maintain better social distancing due to use of technology. Doctors can get real-time data of patients without visiting them at their beds. Smart hospitals are also able to tell the number of beds available on real-time basis compared to the hospitals which were not using technologies.
Renub Research report title “Smart Hospital Market & Forecast by Artificial Intelligence (Offering, Technology, and Applications), Components (Hardware, System & Software, and Services), By Connectivity (Wired, and Wireless), Applications (Outpatient Vigilance, Electronic Health Record & Clinical Workflow, Remote Medicine Management, Medical Connection Imaging, and Medical Assistance), Region (North America, Europe, Asia Pacific, and Rest of World), Company (Koninklijke Philips N.V, Medtronic Plc, SAP SE, Cerner Corporation, and Schneider Electric Healthcare)” and complete study of global smart hospital industry.
Artificial Intelligence – In the report, we have provided a complete study about smart hospital artificial intelligence market by
Components – In this report, we have studied the market of components of smart hospital market
- System and Software
Connectivity – In this report, the connectivity smart hospital market is categorized into
Applications – In this report we have studied Global smart hospital application market
1. Outpatient Vigilance
2. Electronic Health Record & Clinical Workflow
3. Remote Medicine Management
4. Medical Connection Imaging
5. Medical Assistance
Regions – We have covered all the four regions smart hospital market
1. North America
3. Asia Pacific (APAC)
4. Rest of World (ROW)
All the Company Insights have been covered from 3 Viewpoints
- Recent Initiatives
- Sales Analysis
1. Koninklijke Philips N.V
2. Medtronic Plc
3. SAP SE
4. Cerner Corporation
5. Schneider Electric Healthcare