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.
This 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
- Offering
- Technology
- Applications
Components - In this report, we have studied the market of components of smart hospital market
- Hardware
- System and Software
- Services
Connectivity - In this report, the connectivity smart hospital market is categorized into
- Wired
- Wireless
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
2. Europe
3. Asia Pacific (APAC)
4. Rest of World (ROW)
All the Company Insights have been covered from 3 Viewpoints
- Overview
- Recent Initiatives
- Sales Analysis
Company Analysis
1. Koninklijke Philips N.V
2. Medtronic Plc
3. SAP SE
4. Cerner Corporation
5. Schneider Electric Healthcare
Table of Contents
Companies Mentioned
- Koninklijke Philips N.V
- Medtronic Plc
- SAP SE
- Cerner Corporation
- Schneider Electric Healthcare
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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