Growing demand for cost-effective solutions and huge healthcare expenditure is expected to drive the demand for United States smart hospitals market in the forecast period.
Smart hospitals are considered a crucial step in transformation of healthcare system into a digital hospital as they use the internet of things technology to connect hospitals by electronic devices to collect information about patient for real-time monitoring and analysis of the patient’s data. Rise in awareness in the patients regarding the benefits of smart hospitals is fostering the demand for smart hospitals in United States. Introduction of internet of things in hospital facilities coupled with high adoption of connected devices to provide quality treatment to patients is contributing to boost the demand for smart hospitals in the region.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing which created lucrative opportunities for the growth of the smart hospitals market.
United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. The demand for critical care devices increased during this period. Patients started opting for telemedicine services and remote monitoring to analyze their health condition in the comfort of their homes. Rise in adoption of wearable technology by the patients to monitor vital health signs is contributing to boost the demand for smart hospitals in this period.
However, concerns regarding privacy and data security may create hindrance in the growth of the smart hospitals market.
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United States smart hospitals market is segmented into component, technology, connectivity, application, services offered, regional distribution, and company. Based on connectivity, market is bifurcated into wired and wireless. The wireless connectivity segment is expected to account for major market share in the forecast period, 2022-2026 owing to the ease and convenience of patients in movement and improves the clinical workflow.
Wireless segment includes technologies such as Bluetooth, Wi-Fi, RFID, among others and adoption of these technologies reduce the operational costs and improve the diagnostic and treatment of the patient. Based on component, market is divided into hardware, software system, and services. The hardware component segment is expected to dominate the market in terms of revenue in the next five years owing to the use of different medical devices and other hardware in hospital settings.
Different type of hardware used in hospital facilities include devices such as wearable devices and other stationery devices. Based on application, market is divided into remote medicine management, medical connected imaging, medical assistance, electronic health record, and others. The electronic health record segment is expected to witness growth in the next five years as it provides access to patients’ health records which improves the quality of healthcare treatment provided to patients.
GE Healthcare, Microsoft Corporation, Qualcomm Life, Inc., Medtronic USA, Inc, Philips Healthcare USA, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Stanley Healthcare USA, Honeywell Life Care Solutions, Siemens Medical Solutions USA Inc., athenahealth, Inc., SAP America, Inc., SAS Institute Inc., International Business, Machines Corporation, IQVIA Inc, Oracle Corporation, Wipro LLC, Cognizant Technology Solutions Corp, Enlitic, Inc., Intel Corporation are the leading players operating in United States smart hospitals market.
Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several smart hospitals manufacturers are coming up with their technologically advanced offerings.
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“The rise in adoption of artificial intelligence in healthcare system coupled with the high demand for AI software which provide insights to make informed decisions. Integration of advanced technologies including machine learning, natural language processing, predictive analysis, and deep learning is expected to enhance the system performance and improve the efficiency of precision medicine, medical imaging and diagnostics, virtual assistance, in-patient care and management, patient data and risk analysis, among other healthcare industry related tasks is anticipated to propel the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Smart Hospitals Market By Component (Hardware, Software System, Services) By Technology (Cloud Computing, Artificial Intelligence, Wearable Technologies, Others) By Connectivity (Wired v/s Wireless) By Application (Remote Medicine Management, Medical Connected Imaging, Medical Assistance, Electronic Health Record, Others) By Services Offered (General Services, Specialty, Super Specialty), By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of United States smart hospitals market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United States smart hospitals market.
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