NEW YORK, Jan. 16, 2025 -- The global smart healthcare market size is estimated to grow by USD 125.7 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 9.31% during the forecast period.
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Report Attribute | Details |
Base Year | 2023 |
Forecast period | 2024-2028 |
Historic Data for | 2017 - 2021 |
Segments Covered | Distribution Channel (Offline and Online), Solution (Telemedicine, mHealth, EHR, Smart pills, and Others), Geography (North America, Europe, Asia, and Rest of World (ROW)), and Application () |
Key Companies Covered | Apple Inc. |
Regions Covered | North America, Europe, Asia, and Rest of World (ROW) |
Region Outlook
- North America
- Europe
- Asia
- Rest of World
1. North America - North America is estimated to contribute 44%. To the growth of the global market. The Smart Healthcare Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.
The North American region is anticipated to lead the global smart healthcare market due to its significant market size. The US, being the major contributor in this region, is driving the market growth with the adoption of advanced technologies like smart pills, smart cabinets, and mHealth services. Factors such as increasing awareness, expanding mobile coverage, and rising chronic diseases are fueling the market expansion. Additionally, the high purchasing power of adults and youth in the US is boosting the demand for smart healthcare devices. Canada and Mexico are also contributing to the market growth in the region.
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Segmentation Overview
- Distribution Channel
- 1.1 Offline
- 1.2 Online
- Solution
- 2.1 Telemedicine
- 2.2 mHealth
- 2.3 EHR
- 2.4 Smart pills
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
- Country
US, Germany, UK, Canada, and Japan - Application
- 4.1
1.1 Fastest growing segment:
The offline segment of the global smart healthcare market refers to the distribution of smart healthcare products and services through physical channels. Retail stores, including specialty stores, healthcare equipment stores, and electronics stores, serve as crucial offline distribution channels. These stores enable customers to personally examine and buy smart healthcare devices such as fitness trackers, smartwatches, blood pressure monitors, and other wearable health technology. Medical equipment suppliers and distributors also contribute significantly to offline distribution. They maintain networks with healthcare providers, hospitals, clinics, and pharmacies, facilitating the distribution of advanced medical devices, telehealth systems, remote patient monitoring equipment, and other smart healthcare solutions. Offline segments offer personalized customer experiences with face-to-face interactions, addressing queries, and building trust. Customers often prefer purchasing smart healthcare products through established offline channels due to reliability, expertise, and after-sales support. This personalized experience and customer confidence are expected to fuel the growth of the offline segment in the smart healthcare market.
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Research Analysis
The Smart Healthcare Market is experiencing rapid growth due to the integration of mHealth and information technologies. Vera Smart Health and Teladoc Health are leading the way in remote monitoring and telemedicine services. NHS U, Apple, and Proxxi are also making significant strides in the industry with their innovative smart healthcare products. These include mHealth apps, smart wearables, and RFID-enabled systems. Real-Time Location Systems are enhancing the efficiency of healthcare facilities, while smart healthcare items such as smart syringes and smart medicines offer improved patient care. Big data and cloud computing are revolutionizing the way healthcare information is managed and analyzed. The integration of RFID technology in smart healthcare products is enabling real-time tracking of vital signs such as blood pressure, heart rate, oxygen level, and temperature, leading to more effective and personalized care. Digital technology is transforming the healthcare sector, making it more accessible, efficient, and patient-centric.
Market Overview
Smart Healthcare Market: Transforming Healthcare with mHealth and Information Technologies The Smart Healthcare Market is revolutionizing traditional healthcare systems by integrating digital technologies such as RFID, Real-Time Location Systems, and sensor-based IoT technology. This market encompasses various smart healthcare products like wearable devices, blood pressure monitors, heart rate monitors, oxygen level monitors, temperature sensors, and more. These devices enable real-time patient monitoring, allowing caregivers, families, and physicians to keep track of health outcomes and intervene early. Cloud communication and big data analytics facilitate efficient medical record-keeping and device integration, providing valuable insights into illness causes and health trends. Advantages of Smart Healthcare include improved access to healthcare services, reduced hospitalizations, and enhanced patient engagement. However, high costs and digital literacy challenges pose market restraints. Key areas of focus include Oral Biology, Craniofacial Research, and eHealth initiatives. Smart Healthcare also encompasses digital health programs, infrastructure development, and the integration of technologies like artificial intelligence and cognitive impairment solutions. Smart healthcare items include mHealth applications, smart wearable devices, smartwatches, health monitors, pedometers, activity trackers, and smart pills. Market participants include healthcare providers, hospitals, insurance companies, and technology companies. Market growth is driven by the increasing prevalence of chronic diseases, the need for remote monitoring, and the advantages of digital health solutions. The market is expected to continue expanding, with the internet, cell phones, tablets, and health-related apps playing essential roles in its development.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
- AirStrip Technologies Inc.
- Allscripts Healthcare Solutions
- Apple Inc.
- AT&T Inc.
- Bollhoff Group
- Brooks Automation
- Cerner Corporation
- Cisco
- GE Healthcare
- Given Imaging, Inc.
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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