About Smart Hospital
The hospitals all around the world are presently under very tremendous pressure and are also facing factors like reimbursements and cost pressures, during the process of serving a highly aging population that is suffering from chronic diseases. Hospitals are now seeking ways to improve productivity and efficiency, so as to reduce the operational costs and thereby, improving the margins. While most of the hospitals are busy achieving this, the patient is also evolving to be a consumer, whose needs and preferences are needed to be addressed for achieving an optimal ‘customer satisfaction’. Naturally, the hospitals visualize digital technologies as one of the solutions. But just doing the implementations don’t necessarily aid in achieving the purpose. Digitization trends also have a very high impact on the hospitals, and certainly, digital hospitals nowadays are also emerging. The term smart hospitals refer to those that optimize and sometimes even redesign the new clinical processes, infrastructure, and management systems which is hence enabled by the underlying digitized networking infrastructure of all the interconnected assets, so as to provide a highly valuable service or insight that was not possible or available during earlier times, to attain better patient care, operational efficiency, and experience. The most critical component for these smart hospitals is the capability to provide a much valuable service of insight that was simply not feasible or available earlier. This is what helps in making the hospital take a step further from just being digital, and henceforth making it truly smart. Simply by digitizing, or making the hospital works paperless is just not sufficient. The current implementations of the digital solutions in the hospitals have marked their steps in their journey of becoming smart.
Attributes | Details |
---|
Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Smart Hospital market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Medtronic (Ireland), Philips (Netherlands), Microsoft Corporation (United States), GE Healthcare (United States), Qualcomm Life (United States), Honeywell Life Care Solutions (United States), SAP (Germany), Allscripts (United States), Allengers (India), Epic Systems (United States), GlucoVista (United States) and Siemens AG (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are STANLEY Healthcare (United States), Cerner Corporation (United States), McKesson Corporation (United States), CitiusTech Inc. (United States), Infor (United States), Athenahealth Inc. (United States), PhysIQ (United States), Diabetizer GmbH & Co. KG (Germany) and AdhereTech (United States).
Segmentation Overview
AMA Research has segmented the market of Global Smart Hospital market by Type (Hardware, Services and Systems & Software), Application (General and Specialty Consultation, Medications and Others) and Region.
On the basis of geography, the market of Smart Hospital has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Functionality, the sub-segment i.e. Remote Medicine Management Medical Assistance will boost the Smart Hospital market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Building Type, the sub-segment i.e. Intelligent Security System will boost the Smart Hospital market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by By Product, the sub-segment i.e. Smart Pill will boost the Smart Hospital market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Government Initiatives for Smart Hospital Projects and Adoption of Artificial Intelligence and IoT in Construction Automation
Market Growth Drivers:
Upsurging Need for Safety and Security Systems and Increasing Disposable Incomes
Challenges:
Requires Skilled Workforce and Limited Functionality and Lack of Identical Set of Standards
Restraints:
Comparatively Higher Initial Investment and Lack of Awareness in Underdeveloped Regions
Opportunities:
Increasing Awareness about Environmental Concerns and Green Building Construction and Increasing Demand for a Smart City Development
Governments of major economies across the globe have started caring about energy loss, efficiency, and sustainability in the smart building sector that has resulted in several bylaws, regulations, and standards related to green buildings. A number of governments have announced clear sanctions and incentives related to green building performance. Owing to rules and regulations across the globe there is a clear positive shift towards and smart green buildings.
Key Target Audience
Service Providers of Smart Hospital, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.