Smart Healthcare Products Market Size: Report, Share, Growth, Analysis, Forecast, Scope 2022-2027

Global Smart Healthcare Products Market Overview (2022-2027)

• Historical Market Size (2021): US$ 151.08 Billion
• Forecast CAGR (2022-2027): 14.60%
• Forecast Market Size (2027): US$ 372.88 Billion

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Smart healthcare products usually include the integration of advanced tools and technologies that provide patients with improved treatment procedures and enhance their quality of life. They are embedded with communication and sensor capabilities, along with data analytics techniques. Smart healthcare products aid in connected medical imaging, telemedicine, outpatient vigilance, etc. They also help in minimizing the errors related to electronic medical records (EMR), laboratory information systems, computerized physician order entry, etc. Some of the commonly used smart healthcare products are smart syringes, smart pills, smart RFID cabinets, smart wearables, etc.

Key Industry Trends and Drivers:

The development of diagnostic as well as monitoring equipment and injury prevention and rehabilitation instruments is primarily driving the smart healthcare products market. Apart from this, the increasing consumer awareness towards numerous associated benefits offered by these products, such as virtual assistance, enhanced patient care, user-friendly systems, self-monitoring, etc., is propelling the market growth. Moreover, the launch of several favorable policies by government bodies to promote the adoption of digital healthcare facilities and provide accessible medical services across remote areas is further positively influencing the global market.
Besides this, the inflating popularity of innovative mHealth mobile apps that allow users to track their fitness levels by observing calorie count, water intake, heart rate, etc., and the escalating demand for cloud-based EMR systems to enable direct patient involvement throughout the documentation process and offer enhanced protection from data disruption are acting as significant growth-inducing factors. Additionally, the introduction of the Internet of Things (IoT), artificial intelligence (AI), Big Data, predictive analytics, etc., is expected to fuel the smart healthcare products market over the forecasted period.

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For the competitor segment, the report includes global key players of the smart healthcare products market.

• Abbott Laboratories
• Allscripts Healthcare Solutions Inc
• Capsule Technologies Inc.
• Cerner Corporation
• Epic Systems Corporation
• GE Healthcare Inc
• Medical Information Technology Inc.
• Medtronic plc
• NextGen Healthcare Inc.
• Olympus Corporation
• Samsung Healthcare and Terumo Corporation.

The report segmentation is as follows:

Breakup by Product Type:

• Telemedicine
• Electronic Health Records
• mHealth
• Smart Pills and Syringes
• Smart RFID Cabinets
• Others

Breakup by Application:

• Storage and Inventory Management
• Monitoring
• Treatment
• Others

Breakup by End User:

• Hospitals
• Home Care Settings
• Others

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

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Key Questions Answered in the Global Smart Healthcare Products Market Report

• How has the global smart healthcare products industry performed in the past and how will it perform in the near future?
• What is the impact of COVID-19 on the global smart healthcare products market?
• What are the key regions in the global smart healthcare products industry?
• What are the different stages in the value chain of the industry?
• What are the major driving factors and challenges in the global smart healthcare products market?
• What is the structure of the global smart healthcare products industry and who are the leading players?
• What is the degree of competition in the market?

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