Smart Healthcare Market to Touch Valuation of US$ 550.9 Bn by 2030

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The global smart healthcare market size is expected to be worth around US$ 550.9 billion by 2030, according to a new report by Vision Research Reports.

The global smart healthcare market size was valued at US$ 150.6 billion in 2020 and is anticipated to grow at a CAGR of 17.2% during forecast period 2021 to 2030.

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Smart Healthcare Market (By Product: RFID Kanban Systems, RFID Smart Cabinets, Electronic Health Records (EHR), Telemedicine, mHealth, Smart Pills, Smart Syringes) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope Details
Market Size USD 550.9 billion by 2030
Growth Rate CAGR of 17.2% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned IBM; Cisco; GE Healthcare; Olympus Corporation; Brooks Automation; Given Imaging, Inc.; Stanley Innerspace; Solstice Medical LLC; Siemens Medical Solutions; Allscripts Healthcare Solutions; Samsung Electronics Corporation; AirStrip Technologies Inc.; Apple Inc.; AT&T Inc.; Logi-Tag; Cerner Corporation; Pepperl+Fuchs; Hurst Green Plastics Ltd.; Bollhoff Group; Wurth Group; McKesson Corporation; Brooks Automation; and LogTag

Growth Factors

 Rising adoption of mHealth, government initiatives to digitize healthcare, and the prevalence of chronic disorders are likely to accentuate the demand for smart healthcare systems. Digitalization has transformed the healthcare industry. The adoption of mHealth has increased substantially in the past few years, majorly owing to the rising usage of smartphones and digitization. As per a United Healthcare Consumer Sentiment Survey,  in 2019, approximately 39.0% of Americans rely on internet or mobile apps for consultations related to their health conditions.

The COVID-19(coronavirus) pandemic is likely to boost the market growth as these solutions help healthcare professionals to connect effectively with their patients and offer quality treatment. Owing to social distancing, remote patient monitoring, and virtual healthcare delivery is gaining momentum.

By Product Analysis

On the basis of product, mhealth accounted the smart healthcare market with around 48.0% revenue share in 2020. The dominance is attributed to high internet usage, smartphones, and the adoption of mHealth apps.

RFID kanban system is the fastest-growing segment at a CAGR of 23.1% from 2020 to 2030. The key trends aiding in the adoption of RFID are supply chain management, automation, real-time intelligence, and asset tracking. RFID technology help to identify issues in the workflow of hospitals especially to move patients in and out quickly and more efficiently.

Telemedicine accounted for the second-fastest-growing segment in the market for smart healthcare. In the wake of the on-going COVID-19 outbreak, it is anticipated to boost the adoption and usage of telemedicine by healthcare professionals to connect effectively with their patients.

By Regional Analysis

North America accounted the market with a revenue share of 35.81% in 2019. This is attributed to supportive government policies for the deployment of digital health and the accessibility of infrastructure with high digital literacy. growing awareness about connected healthcare, high penetration of internet, and smartphones, along with the usage of health-related apps are a few of the key factors responsible for the growth of the market.

Asia Pacific is expected to exhibit lucrative growth over the forecast period. Countries such as Japan, Australia, and India exhibit significant potential owing to their developed healthcare IT infrastructure and growing investments in smart healthcare.

Key Players

  • AirStrip Technologies Inc.
  • Allscripts Healthcare Solutions
  • Apple Inc.
  • AT&T Inc.
  • Brooks Automation
  • Cerner Corporation
  • Cisco
  • GE Healthcare
  • Given Imaging, Inc.
  • Hurst Green Plastics Ltd.
  • IBM
  • Logi-Tag
  • McKesson Corporation
  • Olympus Corporation
  • Pepperl+Fuchs
  • Samsung Electronics Corporation
  • Siemens Medical Solutions
  • Solstice Medical LLC
  • Stanley Innerspace
  • Bollhoff Group
  • Wurth Group

Market Segmentation

  • Product
    • RFID Kanban Systems
    • RFID Smart Cabinets
    • Electronic Health Records (EHR)
    • Telemedicine
    • mHealth
    • Smart Pills
    • Smart Syringes
  • Regional
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Italy
      • Spain
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

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Daksh

Daksh is an SEO Analyst having 3 years of experienced. we can quickly understand and support initiatives that will contribute to the goals and success of client campaigns. and also Perform keyword research in coordination with client business objectives to optimize existing content and uncover new opportunities.

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