Report Ocean introduces a fresh report examining the ‘North America Smart Hospital Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
The smart hospital is a technological revolution in the healthcare industry which manages a large amount of available data and integrates different hospital delivery mechanisms. It makes use of the electronic patient records and streamline processes, which lead to improved quality of life through remote monitoring, thereby reducing the risks to health, and improving the general well-being of people. Smart healthcare provides more patient-centric services that improve access to healthcare and are customized to individual patients’ needs. The North America smart hospital market is expected to have a significant compound annual growth rate (CAGR) of 22.97% and reach a market size of USD 21.56 Bn by 2023.
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The factors that drive the market growth in North America are adoption of machine learning, artificial intelligence (AI), cloud computing services, radio-frequency identification (RFID) and others to develop existing hospital technologies. The radio-frequency identification provides real-time information that supports in decision making and creating a secure and reliable smart hospital management information system. The real-time patient management system helps in automating and streamlining patient identification processes.
The North American smart hospital market is bifurcated on the basis of product (smart pills, mHealth, telemedicine, electronic health record and others), application (remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging, and medical assistance), and artificial intelligence (offering, technology). The technologies used are artificial intelligence, cloud computing, RFID, wearable technologies, zigbee technologies, the internet of things (IoT) and others.
The market is also segmented into the United States of America and Canada as majorly contributing countries.
Key growth factors
In North America there are many companies and start-ups working on research and development of technologies like machine learning, artificial intelligence, cloud computing services and RFID. The governments expenditure for implementation of IT solutions in healthcare and increase in the number of skilled IT experts are the major factors favoring the adoption of healthcare IT solutions in North America. Additionally, aging population demands quick and better healthcare services, thereby raising the demand for smart hospitals.
Threats and key players
Cyber-attacks are a major threat to the smart hospitals. The increasing number of ransomware cases and DDoS (Distributed denial of service ) attacks is just a glimpse of things to come. The introduction of IoT components in the hospital ecosystem increases the attack, rendering hospitals even more vulnerable to cyber-attacks. Also, smart hospital products in the USA need to get approval of the US Food and Drug Administration (FDA), which is a tedious process and stalls the market growth.
The major players in the North America Smart Hospital market are:-
- Microsoft (US)
- GE Healthcare (US)
- Qualcomm Life (US)
- Honeywell Life Care Solutions (US)
- Allscripts (US)
- CitiusTech Inc. (US)
- Infor (US)
- Athenahealth (US)
- PhysIQ (US)
- AdhereTech (US)
- Epic (US)
- GlucoVista (US)
- STANLEY Healthcare (US)
- Cerner Corporation (US)
- and McKesson (US)
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
Some Questions Answered in the North America Smart Hospital Market Report:
- What is the projected size of the North America Smart Hospital market in 2032, and what growth rate is expected?
- What are the primary drivers of growth in the North America Smart Hospital industry?
- What are the major market trends that are affecting the expansion of the North America Smart Hospital market?
- What obstacles must be overcome in order to achieve sustained growth in the North America Smart Hospital market?
- What opportunities and threats do vendors in the North America Smart Hospital market face?
- What are the raw materials and manufacturing equipment used in the production of North America Smart Hospital, and what is the manufacturing process?
- What are the different types and applications of North America Smart Hospital, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the North America Smart Hospital market?
- What factors are driving the growth of the North America Smart Hospital market in the top regions worldwide?
- Who are the major players in the North America Smart Hospital market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the North America Smart Hospital market?
- What are the main findings of a five forces analysis of the North America Smart Hospital market?
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