/ Blog / The State of The Global Smart Hospitals Market


Erik Petrov1


18 January 2023

The State of The Global Smart Hospitals Market

The idea of a smart hospital is one that combines the healthcare processes found in hospitals with algorithms and data to improve the quality, efficiency and effectiveness of patient care. Not only does it help bridge the communication gap between patients and healthcare staff, but also helps with discovering trends and solutions to problems that were not known before.


With advancements in healthcare and medicine, the global smart hospitals market has seen a fair amount of growth. Medical care is becoming more and more complex as newer solutions are discovered and incorporated, and cost-effectiveness is of great importance. This is where the global smart hospitals market is becoming more and more relevant. 


In fact, companies in the global smart hospitals market are increasing their investments and efforts towards research and development for further innovation that will hold a lot of promising potential to maximize life saving and minimize losses and costs. Humanoid robots are part of these innovations. 


Smart hospitals have improved the way care is delivered and provided around the world. In fact, with so many connections between technologies on a global scale, telemedicine has also been introduced into the market and is expected to grow over the next few years. 


Smart hospitals have taken the benefits of big data, artificial intelligence and internet of things (IoT) to create spaces that are able to fulfill the needs of both patients, clinicians and other healthcare staff. 


The current expected compound annual growth rate of the global smart hospitals market is around 23% between 2020 and 2030, and even though there are still plenty of hurdles to overcome, the growth rate is likely to stay the same in the coming years. 


The key players that exist within the global smart hospitals market are most likely to propel the growth of the market further due to the introduction of newer, more innovative and more digitized solutions and services to various healthcare problems. 


The number of diseases increasing around the world due to various reasons also results in a greater need for healthcare and improved services. 


There are five main segments in the global smart hospitals market. These are:


  • Components
  • Services
  • Connectivity
  • Application
  • Region


In terms of components, the market is concerned with hardware, systems and the softwares in use. The segment accounts for a larger share of the market as a whole, especially due to the advances and innovation in technologies. Advancements in IoT, AI and robots have also driven this segment. 


The services segment is further divided into general hospitals, specialty hospitals and other hospitals, with general hospitals being the dominating classification due to the preference of patients as well as the presence of general hospitals around the world.


In terms of application, the global smart hospitals market looks at things like medical assistance, health records and workflow, imaging, etc. As of yet, the electronic health records and workflow has the largest share. 


Connectivity for smart hospitals is either wired or wireless, but with wireless networks being more convenient and because of the advancements in wireless technology, this portion has accounted for a greater part of the connectivity segment. 


The global smart hospitals market is divided by region, and the largest share of the market is held by North America, likely due to the growing number of diseases, technological advancements and a greater expenditure in healthcare. 


However, the market in Asia is expected to grow the fastest over the next few years, likely due to the increase in diseases.


For more detailed insights on the global smart hospitals market, the Douglas Insights report holds all the information and statistics any player in the industry needs.


The report looks at the worldwide market for smart hospitals, including the segments of hardware, software and systems, services, applications and connectivity. The report considers the division of the global smart hospitals market in terms of geography and region, and looks into each of the major countries in detail.


It provides market estimates using the year 2020 as the base year, with forecasts all the way up until 2026. The estimated values are based on the total revenues of drug manufacturers.


This report contains 29 tables with summarized information, and also provides an overview of the global smart hospitals market as a whole. It looks at the estimated market size and provides an analysis on the global trends in the market with data from 2010 and 202 and provides estimates and projections until 2026. 


The report also analyzes any new opportunities that may arise, as well as challenges, and how technological changes within the market can alter projections and forecasts. It also looks at the highlights of the market itself based on each of the five segments. 


The report covers all the key technologies involved in the market and how smart healthcare classifies each of these. It provides a detailed analysis on the trends and forecasts currently, as well as any product launches and enhancements, as well as upcoming technologies and progress of the industry. 


The report analyzes in detail the market share of each of the key companies involved in the industry and any major business activities that took place, such as mergers, acquisitions, collaborations, etc. It also looks at all the key market strategies that any of the players are using.


The report also provides a detailed company profile of all the major players in the global smart hospitals market, including but not limited to General Electric Co. IBM, Siemens, etc. 


With the rapid growth in healthcare technologies and the growing need for better healthcare at minimum cost, the Douglas Insights report on the global smart hospitals market is a necessity for any organization in the industry to make good business decisions and improve performance. When it comes to healthcare, making the right decision at the right time can also be a matter of life and death, so this becomes extra important.


For more details and insights on the market, the report can be accessed here.

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