Smart Hospital Market : Modernization of Healthcare Infrastructure is Boosting the Demand for Smart Hospitals
The smart hospital market is estimated to be valued at USD 63.49 Billion by 2023, growing at a CAGR of 24.00% between 2017 and 2023.
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The growth of smart hospitals is attributed to the increasing prevalence of chronic diseases, rising need for better patient care, and efficient and accurate solutions. In addition, the benefits of a smart hospital such as the decreased cost of treatment, improved outcomes of treatment, enhanced patient experience, reduced errors, and improved disease management boost the growth of the smart hospital market.
The major players in the smart hospital market are Medtronic (Ireland), Philips (Netherlands), Microsoft (US), GE Healthcare (US) and Qualcomm Life (US), Honeywell Life Care Solutions (US), SAP (Germany), Allscripts (US), Allengers (India), Siemens AG (Germany), and CitiusTech Inc. (US), Infor (US), Athenahealth (US), PhysIQ (US), Diabetizer (Germany), AdhereTech (US), Epic (US), GlucoVista (US), STANLEY Healthcare (US), Cerner Corporation (US), and McKesson (US).
Outpatient vigilance application is expected to grow at the highest CAGR during the forecast period”
Outpatient vigilance technology allows healthcare facility to effectively monitor every patient bed and constantly monitor a patient’s status without having to connect cables, leads, and sensors to the individual. This is the key factor behind the growth of outpatient vigilance application.
“Systems and software component of the smart hospital market expected to grow at the highest CAGR between 2017 and 2023”
The systems and software segment mainly focuses on device management and integration, information security, data collection, and data analytics. In addition, it helps to create a high degree of smart characteristics and autonomy among healthcare providers, h