The latest research report on the North America Smart Hospital Market provides valuable insights into the market’s growth opportunities and trends until 2032. The report thoroughly analyzes the driving factors and restraints of the market, utilizing both qualitative and quantitative methodologies. It offers a comprehensive overview of the market landscape, enabling businesses to make informed decisions about their growth strategies and potential areas of expansion. The report also provides a detailed analysis of the market by application and type, providing reliable information for readers and users. This report is useful for businesses of all sizes in defining their commerce strategies, presenting statistical data in a simplified manner.
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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 Billion by 2023.
The major players in the 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), etc.
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 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.
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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 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) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
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) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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A report on the “North America Smart Hospital market” would typically encompass various aspects related to this market, providing a comprehensive analysis and insights for stakeholders. Below are some key areas that are likely to be covered in such a report:
Market Overview:
- Introduction to the North America Smart Hospital market.
- Definition and classification of North America Smart Hospital.
- Market size and growth potential.
- Historical and forecasted market trends.
Market Segmentation:
- Segmentation by product type
- Segmentation by application
- Geographical segmentation (regional and global markets).
Market Dynamics:
- Drivers and challenges affecting the North America Smart Hospital market.
- Market opportunities and growth factors.
- Regulatory and environmental factors influencing the market.
Competitive Landscape:
- Analysis of key market players and their market share.
- Company profiles, including product portfolios and strategies.
- SWOT analysis for major industry players.
Market Trends and Innovations:
- Emerging trends in North America Smart Hospital technology.
- Innovations, such as improved battery efficiency and durability.
- Sustainable and eco-friendly battery solutions.
Market Demand Analysis:
- Factors influencing consumer demand.
- Usage patterns and preferences of outdoor enthusiasts and consumers.
- Consumer demographics and target markets.
Pricing Analysis:
- Pricing strategies and trends in the North America Smart Hospital market.
- Price comparison among different product types and brands.
Distribution Channels:
- Analysis of the distribution network and sales channels.
- Retail, e-commerce, and other distribution methods.
Case Studies:
- Real-world examples of successful North America Smart Hospital applications.
- Case studies of notable projects or products.
Market Forecast:
- Short-term and long-term market projections.
- Growth prospects and potential market size.
Competitive Strategies:
- Strategies adopted by companies to gain a competitive edge.
- Mergers and acquisitions, partnerships, and collaborations in the market.
Regional Analysis:
- Analysis of the North America Smart Hospital market in different regions.
- Regional market dynamics and trends.
Investment Opportunities:
- Potential investment opportunities in the market.
- Risks and returns associated with market investments.
Market Challenges:
- Obstacles faced by industry players.
- Technological, economic, and regulatory challenges.
Future Outlook:
- Key insights into the future of the North America Smart Hospital market.
- Predictions and recommendations for market participants.
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