Press release
Smart Healthcare Products Market to Grow With a CAGR of 12.8% as a Result of Adoption of Healthy Lifestyles during 2024 | Top Key Players: E Medtronic, Inc., Becton Dickinson & Company, Stanley Healthcare, Allscripts Healthcare Solutions Inc
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global smart healthcare products market is segmented into product type such as smart syringes, smart pills, smart RFID cabinets and electronic health record (EHR), out of which, electronic health record (EHR) segment dominated the overall smart healthcare products market in 2016 and is projected to capture a noteworthy CAGR by 2024. Apart from this, smart pills are believed to register a phenomenal CAGR of 19.1% by the end of 2024. Likely, growing prevalence of chronic diseases along with adoption of advanced healthcare products is envisioned to bolster the growth of global smart healthcare products market.
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Global smart healthcare products market is anticipated to post a notable CAGR of 12.8% during the forecast period i.e. 2017-2024. Moreover, the global smart healthcare products market is projected to account for exponential sales by the end of 2024. Additionally, growing inclination of consumers towards innovative and advanced healthcare products is believed to propel the growth of smart healthcare products market.
The inventory management segment by application is projected to grow at a robust CAGR of 11.5% over the forecast period. Further, this growth of inventory management segment is attributed to the heavy adoption of healthcare products for data inventory. In terms of geography, North America is slated to account for the leading market of global smart healthcare products.
Moreover, U.S. is the dominating country in this region owing to presence of large healthcare industry along with presence of key vendors of smart healthcare products. Apart from this, Asia-Pacific region is projected to be the fastest growing smart healthcare products market by the end of 2024.
Technological Advancement
Integration of internet of things (IoT) into healthcare products is projected to foster the growth of smart healthcare products market. For instance, medicines are barcode labeled so that they can be delivered more correctly to patients. Moreover, growing adoption of innovative technology in developing and developed nations such as U.S., China and others is also propelling the market of smart healthcare products market.
Favorable Government Initiatives
Rising government initiatives to develop the healthcare infrastructure all across the globe is projected to flourish the growth of smart healthcare products market. Moreover, in 2015 U.S. health care spending increased 5.8% to reach USD 3.2 trillion which is also expected to impel the growth of smart healthcare products market.
Although, high cost of smart healthcare products is envisioned to hamper the growth of smart healthcare products market by 2024.
This report also provides the existing competitive scenario of some of the key players of the global smart healthcare products market which includes company profiling:
E Medtronic, Inc.,
Becton Dickinson & Company,
Stanley Healthcare,
Allscripts Healthcare Solutions Inc.,
Olympus Corporation,
Terumo Corporation,
Cerner Corporation,
Honeywell Life Care Solutions, AirStrip Technologies.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart healthcare products market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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