Industry Background:
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.This growth is primarily driven by Upsurging Need for Safety and Security Systems
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
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.
Regulatory Insights:
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.
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
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Smart Hospital Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Smart Hospital Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Smart Hospital players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Hospital Study Sheds Light on
The Smart Hospital Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Hospital industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Hospital industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.