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Global Smart Healthcare Products Market Report and Forecast 2024-2032

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    Report

  • 140 Pages
  • October 2023
  • Region: Global
  • Expert Market Research
  • ID: 5910874
The global smart healthcare products market size was valued at USD 191.9 billion in 2023, driven by the fusion of advanced technology with traditional healthcare practices across the globe. The market size is anticipated to grow at a CAGR of 15.2% during the forecast period of 2024-2032 to achieve a value of USD 685.3 billion by 2032.

Smart Healthcare Products: Introduction

Smart healthcare products represent a fusion of traditional medical practices with modern technology to enhance healthcare delivery and patient outcomes. These products leverage advancements in digital technology, data analytics, the Internet of Things (IoT), artificial intelligence (AI), and other innovations to create intelligent systems that can predict, monitor, and provide real-time feedback on health conditions. Common examples include wearable fitness trackers that monitor heart rate, smart pill bottles that remind patients to take their medications, and advanced hospital beds that can track a patient's vital signs and adjust positioning for optimal comfort.

Moreover, telemedicine platforms, electronic health records (EHR), and smart implants are other exemplars that fall under the smart healthcare umbrella. These products not only streamline healthcare processes but also empower patients, giving them greater control over their health and well-being. As healthcare systems worldwide face challenges like aging populations, rising costs, and the need for personalized care, smart healthcare products are emerging as pivotal tools to address these issues and transform the future of health and wellness.

Key Trends in the Global Smart Healthcare Products Market

As of January 2022, the global smart healthcare products market was experiencing a transformative evolution. Wearable devices, such as smartwatches and advanced fitness trackers, had become ubiquitous, offering real-time health monitoring from heart rhythms to blood oxygen levels. The COVID-19 pandemic catalyzed a significant shift towards telehealth, enabling remote consultations and patient monitoring, while the integration of the Internet of Things (IoT) brought forth innovations like smart inhalers and connected insulin pens. Electronic Health Records (EHRs) took on new dimensions with AI and data analytics, providing personalized treatment insights. The emergence of smart pills equipped with ingestible sensors offered a futuristic approach to medication adherence and health monitoring.

Simultaneously, AI-driven diagnostics and treatments have been reshaping medical practices. Amidst this technological boom, concerns surrounding data security and patient privacy gained prominence, leading to a rigorous focus on cybersecurity in healthcare. Moreover, the idea of 'smart hospitals' began to crystallize, where interconnected devices and automation promised a new era of efficient and enhanced patient care. In sum, the landscape of smart healthcare products was rapidly evolving, driven by technological innovation and a heightened focus on patient-centric care.

Global Smart Healthcare Products Market Segmentation

Market Breakup by Product Type

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

Market Breakup by Application

  • Storage and Inventory Management
  • Monitoring
  • Treatment
  • Other Applications

Market Breakup by Distribution Channel

  • Hospital and Clinics
  • Offline Pharmacy Stores
  • Online Pharmacy Stores

Market Breakup by End User

  • Hospitals
  • Specialty Clinics
  • Home Healthcare
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Global Smart Healthcare Products Market Overview

The global smart healthcare products market is undergoing a remarkable transformation, driven by the fusion of advanced technology with traditional healthcare practices. From wearable devices offering real-time health metrics to telemedicine platforms enabling remote consultations, the market's landscape is increasingly digital and patient centric. Electronic health records (EHRs) powered by artificial intelligence are revolutionizing personalized treatment approaches, while IoT devices promise improved operational efficiencies within healthcare institutions. However, this digital ascent is coupled with pressing concerns about data privacy and the urgent need for robust cybersecurity measures.

Furthermore, standardization and interoperability across various smart products remain critical areas of focus. As healthcare pivots towards a more data-driven model, the smart healthcare products market stands on the cusp of significant growth, characterized by both immense opportunities and challenges.

Global Smart Healthcare Products Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
  • Cerner Corporation
  • Allscripts Healthcare Solutions
  • CISCO
  • IBM
  • Olympus Corporation
  • Samsung Electronics Corporation
  • SMITH & NEPHEW
  • Logi-Tag Systems
  • Brooks Automation
  • Solstice Medical LLC
  • MCKESSON CORPORATION
  • Siemens Medical Solutions
  • Apple Inc.
The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


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Table of Contents

1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Smart Healthcare Products Market Overview
3.1 Global Smart Healthcare Products Market Historical Value (2017-2023)
3.2 Global Smart Healthcare Products Market Forecast Value (2024-2032)
4 Global Smart Healthcare Products Market Landscape
4.1 Global Smart Healthcare Products Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Smart Healthcare Products Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Application
5 Global Smart Healthcare Products Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Smart Healthcare Products Market Segmentation
6.1 Global Smart Healthcare Products Market by Product Type
6.1.1 Market Overview
6.1.2 Telemedicine
6.1.3 Electronic Health Records
6.1.4 mHealth
6.1.5 Smart Pills and Syringes
6.1.6 Smart RFID Cabinets
6.1.7 Others
6.2 Global Smart Healthcare Products Market by Application
6.2.1 Market Overview
6.2.2 Storage and Inventory Management
6.2.3 Monitoring
6.2.4 Treatment
6.2.5 Other Applications
6.3 Global Smart Healthcare Products Market by Distribution Channel
6.3.1 Market Overview
6.3.2 Hospital and Clinics
6.3.3 Offline Pharmacy Stores
6.3.4 Online Pharmacy Stores
6.4 Global Smart Healthcare Products Market by End User
6.4.1 Market Overview
6.4.2 Hospitals
6.4.3 Speciality Clinics
6.4.4 Home Healthcare
6.4.5 Others
6.5 Global Smart Healthcare Products Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Smart Healthcare Products Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Smart Healthcare Products Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Smart Healthcare Products Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Smart Healthcare Products Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Smart Healthcare Products Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Cerner Corporation
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Allscripts Healthcare Solutions
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 CISCO
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 IBM
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Olympus Corporation
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Samsung Electronics Corporation
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 SMITH & NEPHEW
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Logi-Tag Systems
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Brooks Automation
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Solstice Medical LLC
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 MCKESSON CORPORATION
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Siemens Medical Solutions
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Apple Inc.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
18 Global Smart Healthcare Products Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket

Companies Mentioned

  • Cerner Corporation
  • Allscripts Healthcare Solutions
  • CISCO
  • IBM
  • Olympus Corporation
  • Samsung Electronics Corporation
  • SMITH & NEPHEW
  • Logi-Tag Systems
  • Brooks Automation
  • Solstice Medical LLC
  • MCKESSON CORPORATION
  • Siemens Medical Solutions
  • Apple Inc.

Methodology

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