Smart Hospitals Market Report 2024 | Growth, Trends, and Forecast by 2032

Global Smart Hospitals Industry: Key Statistics and Insights in 2024-2032

Smart Hospitals Industry

Summary:

• The market is expected to reach a growth rate (CAGR) of 15.26% during 2024-2032.
• North America leads the market, accounting for the largest smart hospitals market share.
• Services (professional services and managed services) holds the majority of the market share in the product segment. 
• Telemedicine dominates the smart hospitals industry.
• General services remain the biggest segment in the market, driven by their broad application across various hospital functions.
• Wireless {Wi-Fi, radio frequency identification (RFID), Bluetooth, Zigbee, near field communication (NFC), and others} represents the leading connectivity segment.
• Based on the technology, the market has been divided into artificial intelligence, internet of things, cloud computing, big data, and others.
• Electronic health record and clinical workflow leads the market owing to their ability to streamline patient data management and improve clinical efficiency.
• The growing need for efficient resource management is a primary driver of the smart hospitals market.
• The rising demand for personalized patient care and the integration of internet of things (IoT) and artificial intelligence (AI) are reshaping the smart hospitals market.

Industry Trends and Drivers:

• Integration of internet of things (IoT) and artificial intelligence (AI):

IoT devices like health monitors, smart beds, and medication dispensers provide real-time patient data. This improves monitoring and early detection of health issues. AI analyzes this data, finding patterns and offering predictive insights. It helps doctors manage patients proactively. This shift moves care from traditional methods to data-driven approaches. It speeds up decisions and reduces errors. AI also automates tasks like administration and supply management, boosting efficiency. Combining IoT and AI, smart hospitals improve care quality and speed. This meets the growing need for efficient healthcare in a competitive, limited-resource environment.

• Rising demand for personalized patient care:

Hospitals are increasingly adopting smart systems to meet the demand for personalized care. They use data from health records, wearables, and genetics to tailor treatments. This approach boosts patient satisfaction and treatment success by considering individual health profiles. Personalized medicine, backed by data analysis, improves adherence, reduces side effects, and speeds up recovery. Furthermore, hospitals are focusing more on patients, raising the demand for customized care. This shift aims to enhance the care experience.

• Growing need for efficient resource management:

Efficient resource management is essential for healthcare facilities facing rising operational costs, staffing shortages, and the need for optimized patient throughput. Smart hospitals address this need by implementing AI-based systems for resource allocation, predictive maintenance, and supply chain management. Advanced scheduling tools powered by machine learning (ML) can help optimize the deployment of medical staff, ensuring that resources are available where they are most needed. Smart inventory management systems help track medication and equipment levels, automatically alerting administrators to restock before supplies run out. Additionally, automated facility management systems can control lighting, temperature, and energy use, creating a sustainable environment that reduces operating costs. These efficiencies enable smart hospitals to improve service delivery while maintaining a manageable operational budget, which is particularly valuable for healthcare providers balancing patient care quality with financial constraints.

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Smart Hospitals Market Report Segmentation:

Breakup By Component:

• Hardware
  • Stationary Medical Devices
  • Implanted Medical Devices
  • Wearable External Medical Devices
  • Others
• Software
• Services
  • Professional Services
  • Managed Services

Services (professional services and managed services) exhibit a clear dominance in the market, driven by their ability to cover essential aspects like system integration, maintenance, and support critical for smart hospital operations.

Breakup By Product:

• mHealth
• Telemedicine
• Smart Pills
• Electronic Health Record
• Others

Telemedicine represents the largest segment accredited to its ability to provide remote healthcare access, especially valuable in enhancing patient reach and reducing in-hospital visits.

Breakup By Service Offered:

• General Services
• Specialty
• Super Specialty

General services hold the biggest market share attributed to their broad application across various hospital functions.

Breakup By Connectivity

• Wireless
  • Wi-Fi
  • Radio Frequency Identification (RFID)
  • Bluetooth
  • Zigbee
  • Near Field Communication (NFC)
  • Others
• Wired

Wireless {Wi-Fi, radio frequency identification (RFID), Bluetooth, Zigbee, near field communication (NFC), and others} accounts for the majority of the market share, as it enables flexible and real-time data exchange, essential for mobile devices and remote monitoring systems in smart hospitals.

Breakup By Technology:

• Artificial Intelligence
• Internet of Things
• Cloud Computing
• Big Data
• Others

Based on the technology, the market has been divided into artificial intelligence, internet of things, cloud computing, big data, and others.

Breakup By Application:

• Remote Medicine Management
• Electronic Health Record & Clinical Workflow
• Outpatient Vigilance
• Medical Connected Imaging
• Medical Assistance
• Others

Electronic health record and clinical workflow hold the biggest market share owing to their ability to streamline patient data management and improve clinical efficiency.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America dominates the market due to advanced healthcare infrastructure, high adoption of digital health technologies, and strong investment in smart hospital initiatives.

Top Smart Hospitals Market Leaders:

The smart hospitals market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• Adheretech Inc.
• Capsule Technologies, Inc. (Francisco Partners)
• Cerner Corporation
• GE Healthcare Inc. (General Electric Company)
• Intel Corporation
• Koninklijke Philips N.V.
• McKesson Corporation
• Medtronic, Inc. (Medtronic Public Limited Company)
• Microsoft Corporation
• SAP SE
• Siemens Healthineers AG (Siemens Aktiengesellschaft)
• STANLEY Healthcare (Stanley Black & Decker Inc.)

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