Smart Hospitals Market by Connectivity, Operation, Component, Application, End-User

List of Tables

[185 Pages Report] The Smart Hospitals Market size was estimated at USD 57.53 billion in 2023 and expected to reach USD 67.63 billion in 2024, at a CAGR 18.35% to reach USD 187.20 billion by 2030.

The smart hospitals market comprises healthcare institutions that utilize advanced integrated software, smart devices, and technology-based systems to improve and automate operations, patient care, and outcomes. These hospitals leverage Internet of Things (IoT) devices, artificial intelligence (AI), machine learning (ML), and big data analytics to facilitate remote monitoring, clinical workflow automation, and enhanced patient engagement, aiming for operational efficiency and superior healthcare delivery. Increasing pressure on existing healthcare systems to manage prevalent chronic health conditions, along with rising government initiatives for digitization in healthcare infrastructure, are driving market growth. Integration of IoT in healthcare systems is also contributing to market expansion. The high cost of connected systems, privacy, security issues associated with smart hospitals, and complex data and system integration hamper market growth. Integration of 5g and blockchain technologies in healthcare facilities, along with the proliferation of smart wearables and humanoid robots, represent significant areas for growth and innovation.

KEY MARKET STATISTICS
Base Year [2023]	USD 57.53 billion
Estimated Year [2024]	USD 67.63 billion
Forecast Year [2030]	USD 187.20 billion
CAGR (%)	18.35%

Connectivity: Rising preference for wireless connectivity for telemedicine, wearable health devices, and patient engagement tools

Wired connectivity in smart hospitals refers to using physical cables and wires to establish connections between devices and systems. Wired connections are preferred for reliability, security, and high-speed data transmission capabilities. They are primarily used in areas requiring robust performance, such as intensive care units (ICUs), operating theaters, and medical imaging departments. Wireless connectivity eliminates physical cables, offering flexibility and efficiency through Wi-Fi, Bluetooth, near-field communication (NFC), and cellular networks. Bluetooth technology in smart hospitals is utilized for short-range communication between medical devices, patient monitoring systems, and healthcare professionals' mobile devices. Its low power consumption makes it ideal for wearable health devices and in-hospital communication systems, thereby facilitating efficient patient care and data exchange. Near-field communication (NFC) is crucial in smart hospitals for enabling secure, contactless interactions between devices over a short range. This technology is prominently used for patient identification, access control, and seamless patient data sharing between healthcare providers and medical devices, ensuring convenience and security. Radio-frequency identification (RFID) technology is widely embraced in smart hospitals for asset tracking, patient tracking, and inventory management. Wi-Fi technology is fundamental in smart hospitals for providing high-speed, reliable internet connectivity across vast areas. This enables the integration of various hospital systems, supports telehealth services, permits using cloud-based applications for real-time patient data access, and facilitates mobile communication among healthcare staff. Zigbee is a low-power, wireless communication protocol designed for personal area networks. Zigbee connects a wide range of medical sensors and devices in smart hospitals within a mesh network. Its low bandwidth and power requirements make it suitable for patient monitoring, environmental sensing, and ensuring secure and efficient operation of hospital facilities. Wired networks offer superior reliability and security, making them suitable for critical applications. However, they require significant upfront investment and can be inflexible. On the other hand, wireless technology provides the agility to adapt to changing needs and supports a broader range of applications, albeit with considerations around interference and data security.

End-User: Rising adoption of smart hospitals by patients for quicker diagnosis that cater to individual health needs seamlessly

Patients seek personalized, efficient, and accessible healthcare services facilitated by the implementation of smart technologies. Patients' preferences include remote monitoring, wearable health gadgets, AI-powered diagnostics, and virtual consultations, aiming for convenience, reduced hospital stays, and proactive healthcare management. Payers, including insurance companies and government bodies, prioritize cost-effectiveness, efficiency in healthcare delivery, and data security. They favor smart hospitals that utilize predictive analytics for patient care, blockchain for secure data transfer, and telemedicine to reduce unnecessary hospital visits and readmissions. Providers such as hospitals and clinics aim for elevated operational efficiency, improved patient outcomes, and enhanced care delivery. They invest in smart hospital components such as EHR integration, surgical robots, smart beds, and AI for diagnostics and treatment planning to achieve these goals.

Regional Insights

In the Americas, particularly in the United States and Canada, there is a robust adoption of smart hospital technologies. Innovations in artificial intelligence (AI), the Internet of Things (IoT), and big data analytics are predominantly utilized for enhancing patient care, hospital management, and operational efficiency. The United States is at the forefront, championing telemedicine, remote monitoring, and electronic health records (EHR), fueled by favorable government policies and significant healthcare IT investments. South America, Brazil, Argentina, and Colombia are making strides in digitizing healthcare through electronic medical records (EMR), telehealth, and AI. Europe has significantly adopted technologies with an advanced smart hospital infrastructure, buoyed by strong regulatory frameworks, high healthcare spending, and widespread digital literacy. The Middle East is rapidly catching up, with significant investments in smart healthcare technologies in countries like the UAE and Saudi Arabia. In contrast, Africa is still in the early stages of adoption, with South Africa being one of the few countries showing substantial progress. The Asia-Pacific region is a dynamic and quickly evolving smart hospital market. Japan, South Korea, and Singapore are pioneers, leveraging cutting-edge technologies such as robotics, AI, and IoT to revolutionize patient care and hospital operations. China and India, with their vast populations and growing economies, are rapidly developing their healthcare infrastructure and integrating smart technologies. The region's growth is propelled by increasing healthcare expenditure, a strong focus on healthcare innovation by governments, and a burgeoning startup ecosystem driving technological advancements.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Smart Hospitals Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Smart Hospitals Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Smart Hospitals Market, highlighting leading vendors and their innovative profiles. These include AdhereTech, LLC, Advantech Co., Ltd., athenahealth, Inc., GE Healthcare Technologies Inc., Honeywell International Inc., Infor, Intel Corporation, International Business Machines Corporation, Koninklijke Philips N.V., Mckesson Corporation, Medtronic PLC, Microsoft Corporation, N. Harris Computer Corporation, NVIDIA Corporation, Oracle Corporation, Phoenix Mecano AG, physIQ, Qualcomm Incorporated, Reivr Fusion Ltd., Sanela Technologies Pvt. Ltd., SAP SE, Securitas AB, Siemens AG, Smart Hospital Manager, Sonar Technologies International, Techmetics Robotics, and Zyter, Inc..

Market Segmentation & Coverage

This research report categorizes the Smart Hospitals Market to forecast the revenues and analyze trends in each of the following sub-markets:

Connectivity
- Wired
- Wireless
  - Bluetooth
  - Near Field Communication
  - RFID
  - Wi-Fi
  - Zigbee
Operation
- General
- Specialty
- Super Specialty

Component
- Hardware
  - Implanted Medical Devices
  - Stationary & Supportive Medical Devices
  - Wearable External Medical Devices

Services
- Consulting Services
- Managed Services
- Professional Services
- Support & Maintenance
- Training & Education

Software

Application
- Electronic Health Record & Clinical Workflow
- Medical Assistance
- Medical Connected Imaging
- Outpatient Vigilance
- Patient Journey Management
- Remote Medicine Management

End-User
- Patient
- Payer
- Provider

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Smart Hospitals Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Smart Hospitals Market?

3. What are the technology trends and regulatory frameworks in the Smart Hospitals Market?

4. What is the market share of the leading vendors in the Smart Hospitals Market?

5. Which modes and strategic moves are suitable for entering the Smart Hospitals Market?

Product Code: MRR-43676CF42BB1

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing Pressure on Existing Healthcare System to Manage Prevailed Chronic Health Conditions
  - 5.1.1.2. Rising Government Initiatives for Digitization in Healthcare Infrastructure
  - 5.1.1.3. Integration of IoT in Healthcare Systems
- 5.1.2. Restraints
  - 5.1.2.1. High Cost of Connected Systems
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of 5G and Blockchain Technologies in Healthcare Facilities
  - 5.1.3.2. Proliferation of Smart Wearables and Humanoid Robots
- 5.1.4. Challenges
  - 5.1.4.1. Privacy and Security Issues Associated with the Smart Hospitals
  - 5.1.4.2. Complex Data and System Integration
5.2. Market Segmentation Analysis
- 5.2.1. Connectivity: Rising preference for wireless connectivity for telemedicine, wearable health devices, and patient engagement tools
- 5.2.2. End-User: Rising adoption of smart hospitals by patients for quicker diagnosis that cater to individual health needs seamlessly
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Smart Hospitals Market, by Connectivity

6.1. Introduction
6.2. Wired
6.3. Wireless

7. Smart Hospitals Market, by Operation

7.1. Introduction
7.2. General
7.3. Specialty
7.4. Super Specialty

8. Smart Hospitals Market, by Component

8.1. Introduction
8.2. Hardware
8.3. Services
8.4. Software

9. Smart Hospitals Market, by Application

9.1. Introduction
9.2. Electronic Health Record & Clinical Workflow
9.3. Medical Assistance
9.4. Medical Connected Imaging
9.5. Outpatient Vigilance
9.6. Patient Journey Management
9.7. Remote Medicine Management

10. Smart Hospitals Market, by End-User

10.1. Introduction
10.2. Patient
10.3. Payer
10.4. Provider

11. Americas Smart Hospitals Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Smart Hospitals Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Smart Hospitals Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Artisight to Scale and Advance AI-driven Smart Hospital Platform with Oversubscribed USD 42 Million Series B Round
- 14.3.2. Avisa Smart Hospitals launched a new era in healthcare with 300-hospital network
- 14.3.3. Thonburi Hospital signs latest partnership to pursue smart hospital transformation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio