Smart Hospital Market is estimated to reach USD 67500.60 Million by 2028 growing at a CAGR of 24% during 2022- 2028 owing increasing occurrence of chronic diseases and rising need for the cost-effective solutions in hospitals and modernization of healthcare infrastructure fuels demand for smart hospitals. Moreover, Development of IoT technologies in healthcare, increasing penetration of connected devices and instruments in hospitals and rising government investments in healthcare sector and growth potential in emerging countries boosts the growth of the market over the forecast period. Global smart hospital market report gives comprehensive outlook on smart hospital across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. This report studies global smart hospital market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global smart hospital market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global smart hospital market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Smart hospitals are handling the epidemic better than non-smart hospitals. Because of the use of technology, they are able to maintain more social distance. Physicians can obtain real-time data from patients without having to visit them in their beds. In comparison to hospitals that do not use technology, these institutions can also inform the entire number of beds that are accessible. Social distance regulations, as well as other limits imposed by the COVID-19 outbreak, provide smart hospitals with more chances for remote consultations, symptom tracking, and follow-ups.
Fastest Growing Market
Healthcare IT systems and instruments are fairly high-priced solutions. Moreover, the maintenance and software update costs of these systems are on higher side. Support and maintenance services, which includes software upgrades according to userâ€™s requirement, represent a recurring expenditure amounting to almost 30% of the total cost of the ownership. Moreover, lack of internal IT expertise in the healthcare industry and high cost of connected systems, increasing interoperability risk and lack of governance standards are the major impeding factors for the market.
The smart hospital market is projected to expand at a CAGR of 5.7% during the forecast period
Medtronic, Philips, GE Healthcare, Siemens AG, Qualcomm Life
North America is the fastest-growing region for smart hospital market