IMARC Group's report titled "Smart Hospitals Market Report by Component (Hardware, Software, Services), Product (mHealth, Telemedicine, Smart Pills, Electronic Health Record, and Others), Services Offered (General Services, Specialty, Super Specialty), Connectivity (Wireless, Wired), Technology (Artificial Intelligence, Internet of Things, Cloud Computing, Big Data, and Others), Application (Remote Medicine Management, Electronic Health Record & Clinical Workflow, Outpatient Vigilance, Medical Connected Imaging, Medical Assistance, and Others), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global smart hospitals market share. The global market size is expected to exhibit a growth rate (CAGR) of 15.26% during 2024-2032. 

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/smart-hospitals-market/requestsample

Factors Affecting the Growth of the Smart Hospitals Industry:

• Rising Demand for Patient-Centric Care:

The growing demand for smart hospitals due to the increasing need for patient-centric care is offering a positive market outlook. Smart hospitals integrate technologies, such as patient portals, wearable devices, and mobile apps, to empower patients in managing their health. These tools facilitate remote monitoring, medication adherence, and access to health information, fostering a collaborative relationship between patients and healthcare providers. Smart hospitals improve patient satisfaction and loyalty by tailoring care to individual needs and preferences. In addition, the rising focus on personalized treatment plans and enhanced patient engagement is impelling the market growth.

• Increasing Geriatric Population:

The escalating demand for smart hospitals on account of the rising geriatric population across the globe is supporting the market growth. Elderly individuals are more susceptible to chronic diseases, posing various challenges to healthcare systems. Smart hospitals address these challenges by employing remote monitoring devices, artificial intelligence (AI)-driven predictive analytics, and personalized care plans. These technologies enable early detection of health issues, proactive management of chronic conditions, and timely interventions to prevent complications. Furthermore, smart hospitals reduce healthcare costs associated with emergency care and hospital admissions while improving the quality of life for patients with chronic illnesses.

• Technological Advancements:

The integration of advanced technologies, such as the Internet of Things (IoT), AI, and data analytics, is contributing to the growth of the market. These technologies allow hospitals to automate processes, predict patient outcomes, and enhance operational efficiency. Additionally, IoT devices enable real-time monitoring of patient vital signs and equipment status, while AI algorithms analyze vast amounts of data to identify patterns and optimize treatment plans. These advancements not only improve patient care but also enable hospitals to make data-driven decisions, leading to better resource allocation and cost management.

Leading Companies Operating in the Global Smart Hospitals Industry:

• Adheretech Inc.
• Capsule Technologies, Inc. (Francisco Partners)
• Cerner Corporation
• GE Healthcare Inc. (General Electric Company)
• Intel Corporation
• Koninklijke Philips N.V.
• McKesson Corporation
• Medtronic, Inc. (Medtronic Public Limited Company)
• Microsoft Corporation
• SAP SE
• Siemens Healthineers AG (Siemens Aktiengesellschaft)
• STANLEY Healthcare (Stanley Black & Decker Inc.)

Smart Hospitals Market Report Segmentation:

By Component:

• Hardware
• Stationary Medical Devices
• Implanted Medical Devices
• Wearable External Medical Devices
• Others
• Software
• Services
• Professional Services
• Managed Services
   

Services represent the largest segment, which can be accredited to the increasing need to improve diagnostics and personalize treatment plans.

By Product:

• mHealth
• Telemedicine
• Smart Pills
• Electronic Health Record
• Others
   

Telemedicine holds the biggest market share as it enables remote medical consultations and diagnostics.

By Service Offered:

• General Services
• Specialty
• Super Specialty

General services account for the largest market share due to the rising demand for essential support and functionality.

By Connectivity:

• Wireless
• Wi-Fi
• Radio Frequency Identification (RFID)
• Bluetooth
• Zigbee
• Near Field Communication (NFC)
• Others
• Wired

Wireless exhibits a clear dominance in the market on account of the increasing focus on seamless connectivity and mobility.

By Technology:

• Artificial Intelligence
• Internet of Things
• Cloud Computing
• Big Data
• Others
   

On the basis of the technology, the market has been divided into artificial intelligence, internet of things, cloud computing, big data, and others.

By Application:

• Remote Medicine Management
• Electronic Health Record & Clinical Workflow
• Outpatient Vigilance
• Medical Connected Imaging
• Medical Assistance
• Others

Electronic health record and clinical workflow dominate the biggest market share, which can be attributed to the rising need for seamless data access and accurate medical histories.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America enjoys a leading position in the smart hospitals market, driven by favorable government initiatives.   

Global Smart Hospitals Market Trends:

Hospitals are constantly seeking ways to improve operational efficiency, reduce wait times, and optimize resource utilization. In addition, smart hospital solutions, such as real-time location systems (RTLS), asset management tools, and workflow automation, assist hospitals in streamlining operations and improving efficiency.

In line with this, the growing demand for smart hospitals due to rising concerns about data privacy and security is positively influencing the market. Furthermore, smart hospitals are investing in robust cybersecurity measures and compliance frameworks to protect patient data and ensure regulatory compliance, which is impelling the growth of the market.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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