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Global Smart Healthcare Systems Market $68.5 Billion by 2027

The global market for smart healthcare systems expected to reach $68.5 billion by 2027, growing at a CAGR of 7% over the forecast period, driven by technological advancements such as the smart pills, smart syringes, smart RFID cabinets, and electronic health records.

  • In many countries, the governments are developing the smart healthcare ecosystems consisting patient, physician and payer models.
    • Healthcare providers are consolidating a wide scope of offerings with business change aptitude to deliver genuine advantages to healthcare product suppliers.
      • The healthcare strategy includes minimizing the lack of healthy sustenance, enhancing the utilization of crucial medications, expanding inoculation, and modernizing open doctors’ facilities.
Global Smart Healthcare Systems Market

In smart healthcare systems, medical data is collected by sensors, the gathered data processes via mobile and intelligent network, the data goes to cloud computing for analyze the data with complex algorithms and medical professionals can make diagnoses and treatment recommendations.

  • Smart healthcare systems include new theories, models, and methods to help better design, implement, adopt, and manage these technology-based services in terms of usage and contributions to healthcare performance. 
    • With the adoption of smart healthcare systems, healthcare organizations can provide cost-effective quality healthcare services with less IT set-up costs and reduced risks.

Emerging smart systems include cloud computing, social networks, and advanced sensing and data analysis techniques.

  • Cloud-enabled sustainable smart healthcare systems, coupled with electronic health records (EHR) and smart mobile solutions (biosensors, wearable devices, and intelligent software agents) demonstrate unprecedented potential for delivering automated, intelligent, and sustainable healthcare services.
    • For example, the European SmartHealth project offers an open integrated architecture for new biodiagnostic systems to support companies utilizing bioassays or new applications.
      • The project primarily focuses on cancer diagnostics (breast cancer recurrence monitoring; cervical cancer case finding; and colorectal cancer diagnostics, prognostics, and theranostics).
Smart Healthcare Systems Market

The global smart healthcare systems market report provides market size ($million 2017 to 2027), market share, growth trends and forecast (CAGR%, 2021 to 2027). 

The global smart healthcare devices market segmentated by product (electronic health records, smart pills, smart RFID cabinets, smart syringes), application (health data storage and exchange, inventory management, treatment and monitoring), and geography.

  • Based on the products, the electronic health record (EHR) segment accounted for the largest share of the total smart healthcare products market, while, the smart pills segment expected to be the fastest-growing segment during the forecast period.
    • Many vendors offering less costly cloud-based EHR services and mobile-based patient portals equipped with modern technology leading to higher sales revenue of EHR systems.
      • Introduction of microelectronic based miniaturization versions of smart pills and high preference for minimally invasive surgeries driving the growth of smart pills market.
  • In terms of applications, the health data storage and exchange segment dominated the overall market in terns of sale revenue, whereas the inventory management segment expected to be the fastest-growing application throughout the forecast period.

The global market for smart healthcare systems research report is divided by geography into North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), Latin America (Brazil, Mexico, Rest of LA), and Rest of the World.

  • Geographically, the North America region led the smart healthcare products market, attributed to favorable government policies, technological advancements, improved infrastructure and presence of large number of vendors in the developed region.

The global smart healthcare products market report also provides the detailed market landscape (market drivers, restraints, opportunities), market attractiveness analysis and profiles of major competitors in the global market including company overview, financial snapshot, key products, technologies and services offered, and recent developments.

Major competitors operating in the global smart healthcare devices market and included in this report are Allscripts Healthcare Solutions, Inc., Becton Dickinson, and Company, CapsoVision, Inc., eClinicalWorks, Epic Systems Corporation, Invengo Technology Pte. Ltd. (TAGSYS), Medtronic plc, Olympus Corporation, Stanley Healthcare, and Terumo Corporation.

  • Product 
    • Electronic Health Records (EHRs)
    • Smart Pills
    • Smart RFID Cabinets
    • Smart Syringes
  • Application
    • Health Data Storage and Exchange
    • Inventory Management
    • Treatment and Monitoring
  • Geography
    • North America (U.S., Canada)
    • Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
    • Asia Pacific (Japan, China, India, Rest of APAC)
    • Latin America (Brazil, Mexico, Rest of LA)
    • Rest of the World
  • Company Profiles
    • Allscripts Healthcare Solutions, Inc.
    • Becton Dickinson, and Company
    • CapsoVision, Inc.
    • eClinicalWorks
    • Epic Systems Corporation
    • Invengo Technology Pte. Ltd. (TAGSYS)
    • Medtronic plc
    • Olympus Corporation
    • Stanley Healthcare
    • Terumo Corporation

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