Patient Engagement/Monitoring

Smart Healthcare Market Size to register a growth of USD 224.86 bn

healthcare

The smart healthcare market size is estimated to grow by USD 224.86 billion from 2019 to 2024. However, the market’s growth is anticipated to decelerate at a CAGR of 24%.

Our report on the “Smart Healthcare Market by Solution and Geography – Forecast and Analysis 2020-2024” covers a complete analysis, including vendor strategies, current market scenario, and the latest trends and drivers.

Key vendors insights

The smart healthcare market is fragmented, and the vendors are deploying growth strategies such as using low pricing strategies and strengthening the local customer base to compete in the market. Some of the key market vendors are:

  • Abbott Laboratories
  • Alphabet Inc.
  • Allscripts Healthcare Solutions Inc.
  • Cisco Systems Inc.
  • General Electric Co.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Koninklijke Philips NV
  • Samsung Electronics Co. Ltd.

Key Offerings

  • Alphabet Inc. – The company offers cloud-based smart healthcare solutions that include telehealth solutions, collaboration and productivity tools, healthcare API management solutions, healthcare data interoperability-based solutions, patient service and support solutions, healthcare analytics, and remote working solutions, among others.
  • Allscripts Healthcare Solutions Inc. – The smart healthcare solutions offered by the company include EMRs, population health management systems, and patient engagement systems.

For more detailed highlights on products offerings and the growth strategies adopted by the vendors, Download a sample report

Parent Market Outlook

Technavio has categorized the global smart healthcare market as a part of the global healthcare technology market. Our report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart healthcare market during the forecast period.

Smart Healthcare Market trend

  • Growing application of IoT in healthcare

    The growing use of IoT and connected medical devices is a major trend in the market. IoT helps in bridging the gap between physical and digital data sources by monitoring patients in real-time. IoT infrastructure helps in improving the accessibility of patients to services, reducing the operational burden on healthcare facilities, and supporting the development of digital ecosystems in healthcare organizations. Healthcare organizations are moving to connected hospital infrastructure to provide timely and improved care. IoT has a wide range of applications in healthcare settings, with the potential to expand within and outside healthcare facilities. Some of the key applications of IoT are telemedicine, connected imaging, clinical workflow and operations management, medication management, and inpatient monitoring.

Geography

  • North America: North America will account for 42% of the market’s growth during the forecast period. The growing awareness, expanding mobile coverage, and rising chronic diseases will drive the smart healthcare market growth in North America during the forecast period. Market growth in this region will be slower than the growth of the market in Europe and Asia. The US is a key market for smart healthcare in North America. In North America, the majority of the geriatric population suffers from mental and chronic disorders and is unable to visit hospitals frequently. Thus, remote patient monitoring and home monitoring using wearable devices have increased significantly in the region.
  • Europe
  • APAC
  • South America
  • MEA

View a report sample for extensive insights on key market Drivers, Trends, and Challenges influencing the smart healthcare market.

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Do reach out to our analysts for a more customized report as per needs. Speak to our Analyst now!

Smart Healthcare Market Scope

Report CoverageDetails
Page number120
Base year2019
Forecast period2020-2024
Growth momentum & CAGRDecelerate at a CAGR of 24%
Market growth 2020-2024USD 224.86 billion
Market structureFragmented
YoY growth (%)28.09
Regional analysisNorth America, Europe, Asia, and ROW
Performing market contributionNorth America at 42%
Key consumer countriesUS, Germany, France, Japan, UK, and China
Competitive landscapeLeading companies, Competitive strategies, Consumer engagement scope
Key companies profiledAbbott Laboratories, Alphabet Inc., Allscripts Healthcare Solutions Inc., Cisco Systems Inc., General Electric Co., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Koninklijke Philips NV, and Samsung Electronics Co. Ltd.
Market dynamicsParent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purviewIf our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Solution

  • Market segments
  • Comparison by Solution
  • Telemedicine – Market size and forecast 2019-2024
  • mHealth – Market size and forecast 2019-2024
  • EHR – Market size and forecast 2019-2024
  • Smart pills – Market size and forecast 2019-2024
  • Others – Market size and forecast 2019-2024
  • Market opportunity by Solution

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • Asia – Market size and forecast 2019-2024
  • ROW – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption
  • Competitive Scenario

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Abbott Laboratories
  • Alphabet Inc.
  • Allscripts Healthcare Solutions Inc.
  • Cisco Systems Inc.
  • General Electric Co.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Koninklijke Philips NV
  • Samsung Electronics Co. Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybersecurity, go to AI-Techpark.com.

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