Smart Hospitals Market 2021: Booming Worldwide | Top Players are Medtronic Plc., Koninklijke Philips N.V., GE Healthcare, Stanley Healthcare

The combination of technological advancements in medical devices (wired or wireless) for patient’s safety and efficacy within hospitals or connected through software to clinical information systems. Such hospitals are called smart hospitals. Internet of Things (IoT) plays a significant role in building the smart hospitals through devices, system components, and networks. Smart hospitals are transforming the healthcare industry, as electronic devices are collecting information of patients’ vital signs and transferring it to physicians and patients are able to track their records. Major players are continuously developing innovative technologies for the betterment of the market.

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Global Smart Hospitals Market - Impact of the Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020.

During the COVID-19 pandemic, many hospitals are upgrading by using different platforms, which is expected to drive the growth of the market over the forecast period. For instance, on October 12, 2020, Digital health venture, KareXpert, built a new cloud-based platform with built-in electronic health records (EHR) for the hospitals in India, in order to maintain paperless records. This platform can perform specialty functions to support doctors, nurses, and patients on mobile and desktop devices, including computerized physician order entry (CPOE) and Medication Administration Request (MAR), telehealth, pharmacy management, and it also acts as a COVID-19 Outbreak Management Platform, which performs symptom monitoring, quarantine monitoring, risk/exposure monitoring assessment, etc.

In order to deal with the COVID-19 pandemic, market players are launching various medicare management services and patient engagement technologies to provide best healthcare services and limit the spread of coronavirus. For instance, on April 2, 2020, MD Revolution, Inc. announced the launch of RevUp Now, a full care management platform developed to help medical practices maintain financial viability and connection with patients during this national shutdown. The RevUp Now platform includes chronic care management, remote patient monitoring, annual wellness visits, COVID-19 screening, and other features.

The global smart hospitals market is estimated to be valued at US$ 28,200.1 Mn in 2021 and is expected to exhibit a CAGR of 20.7% over the forecast period (2021-2028).

Competitive Landscape

Major players operating in the global smart hospitals market include Medtronic Plc., Koninklijke Philips N.V., GE Healthcare, Stanley Healthcare, Siemens AG, Athenahealth, Allscripts Healthcare Solutions, Inc., Microsoft Corporation, SAP SE, Samsung Healthcare, and Honeywell International Inc.

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Detailed Segmentation:

By Component:
Hardware
Software System
Services

By Technology:
Cloud Computing
Artificial Intelligence
Wearable Technologies
Radio Frequencies Identification
Others

By Application:
Remote Medicine Management
Medical Connected Imaging
Medical Assistance
Electronic Health Record
Outpatient Vigilance

By Connectivity:
Wired
Wireless

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This release was published on openPR.