Germany Smart Healthcare Dynamics, Trends, Revenue, Regional Segmented, Outlook & Forecast Till 2028

Market Overview

The Germany smart healthcare market size is expected to reach USD 33.09 billion by 2028, exhibiting a CAGR of 21.9% during the forecast period. The robust government support in Germany along with technological advancement are factors expected to boost the growth of the market, states Fortune Business Insights, in a report, titled "Germany Smart Healthcare Market Size, Share & COVID-19 Impact Analysis, By Product (Electronic Health Record, Smart Medication Delivery, Telemedicine, RFID Systems, mHealth, and Others), By Application (Health Data Storage, Monitoring and Treatment, Inventory Management, and Others), and by End User (Hospitals & ASCs, Homecare Settings, and Others) and Forecast, 2021-2028." The market size stood at USD 6.87 billion in 2019

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The coronavirus incident has caused massive loss and disruption to various industries across the globe. We understand that this health disaster has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.

The report on the Germany smart healthcare market incorporates:

Excellent insights into the market
Meticulous scrutiny of the segments
Recent developments
Important data of key players
New government policies
COVID-19 impact
Market Driver:

Growing Adoption of Telemedicine and mHealth to Boost Market

The increasing acceptance of various technologies such as mHealth and telemedicine by the German population will have a tremendous impact on the global market. The ongoing alternations in legislation are expected to boost the expansion of digital health platforms. Moreover, favorable reimbursement policies for digital health solutions will simultaneously create opportunities for the market. The increasing awareness about various advantages of new technologies in healthcare such as greater accessibility, efficient treatment, disorder management, and cost-effectiveness will have an excellent effect on the market during the forecast period. Also, the emerging number of companies in healthcare will favor the healthy growth of the market.

Significant Demand for Smart Healthcare to Propel Market During Coronavirus

The coronavirus pandemic has had an outstanding impact on the healthcare IT markets such as smart healthcare, medical devices, and pharmaceuticals. The stringent government norms regarding healthcare procedures have steered concentration on telemedicine and mHealth. The increasing digitalization and need for virtual healthcare assistance have accelerated the demand for smart healthcare amid covid-19. Moreover, favorable government policies and initiatives regarding the adoption of smart healthcare will further bolster the growth of the market during the pandemic.

Competitive Landscape:

Expansion Plans of Prominent Companies to Strengthen Business

The ongoing strategies of Cerner, and Resideo Technologies Inc to expand its presence in Germany will incite lucrative business. For instance, the German Government's mandate of an EHR for all the individuals under the statutory health insurance (SHI). In September 2019, there were an estimated 1,379 health technology start-ups in Germany. This includes InterComponentWare (ICW), eGym, Ada, Clue, and Freeletics. The emerging companies in healthcare, telemedicine, and mHealth will bolster the healthy growth of the market. Similarly, the emerging players are focused on strategic collaborations with established players to strengthen their footprint in the German market.

Notable Development:

February 2019: Abbott announced that it has signed a collaboration with Novo Nordisk, by connecting Abbott's FreeStyle Libre system with Novo Nordisk's insulin pens for efficient and improved diabetes management.

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The Report Lists the Main Companies in this Market:

GE Healthcare (General Electric Company) (Chicago, U.S.)
Siemens Healthineers AG (Siemens Healthcare GmbH) (Munich, Germany)
Abbott (Lake Bluff, U.S.)
Olympus Corporation (Tokyo, Japan)
Resideo Technologies Inc. (Austin, U.S.)
Cisco (San Jose, U.S.)
IBM (Armonk, U.S.)
Cerner Corporation (Kansas City, U.S.)
Allscripts Healthcare Solutions, Inc. (Chicago, U.S.)
Continued. . .

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NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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This release was published on openPR.