The global smart healthcare market size is estimated to be USD 144.72 billion in 2021 and is expected to witness a CAGR of 17.74% during the forecast period. Rising digital revolution in healthcare sector and consumer adoption for smart technology, increasing government funding for medical infrastructure, and shifting trend from complicated traditional monitoring, treatment, recording, and inventory management task in healthcare sector are major factors that are expected to propel the global market growth. However, technical & operational concerns as well as insignificant reach of IT technology in emerging economies are expected to hinder the growth.
Global Smart Healthcare Market Size (USD Billion), 2021-2029
Source: Erevna Healthcare
By Product
Based on product, the market is categorized into mHealth, RFID, smart pills, smart syringes, telemedicine, electronic health records (EHR), and others. In 2021, mHealth accounted for the highest revenue share due to its high internet use and increased development & adoption of novel mHealth apps. The RFID segment is estimated to grow at the fastest CAGR during the forecast period owing to its high implementation in automation, real-time intelligence information, asset tracking, and supply chain management.
By Application
Based on application, the market is segmented into inventory management, health data storage & exchange, and monitoring & treatment. In 2021, the monitoring & treatment segment accounted for a lucrative revenue share owing to rising patient safety concerns and need to provide real-time healthcare services for chronic diseases & emergency cases. Health data storage and exchange is projected to grow at a lucrative CAGR during the forecast period owing to increasing R&D initiatives for the development of healthcare products and technologies.
By End User
Based on end user, the market is categorized into hospitals & clinics, home care settings, diagnostic laboratories, and others. In the global market, the hospitals & clinics segment accounted for the largest revenue share in 2021 owing to high investment in healthcare infrastructure for effectively monitoring and tracking operations, supply chain, and real time intelligence & glitches in the system. Development of advanced technologies are expected to fuel the growth of home care settings segment during the forecast period.
Regional Insights
North America was the highest revenue-grossing segment of the global market in 2021 and is projected to maintain its dominance during the forecast period. This is due to the high adoption of digital technologies and rapid investment in R&D of smart healthcare solutions in this region. The Asia Pacific is estimated to grow at the fastest growth rate during the forecast period owing to the growing awareness for Internet of Things, diversification of multinational healthcare giants in this region, and rising prevalence of chronic disease cases in the region.
Competitor Insights
Some of the major companies in the smart healthcare market are Allscripts Healthcare Solutions, Inc. (U.S.), International Business Machines Corporation (U.S.), Cisco Systems, Inc. (U.S.), Cerner Corporation (U.S.), Abbott Laboratories (U.S.), General Electric Company (U.S.), Koninklijke Philips N.V. (Netherlands), Samsung Group (South Korea), Siemens AG (Germany) and McKesson Corporation (U.S.). Strategic collaborations, mergers, acquisitions, product development, and geographic expansion are some of the major strategies adopted by the leading players operating in the industry.
This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The smart healthcare market report is categorized into the following segments and subsegments:
Smart Healthcare Market, By Product (Revenue, 2021-2029, USD Billion)
- RFID
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- Kanban System
- Smart Cabinets
- Electronic Health Records
- Telemedicine
- mHealth
- Smart Pills
- Smart Syringes
- Others
Smart Healthcare Market, By Application (Revenue, 2021-2029, USD Billion)
- Monitoring & Treatment
- Inventory Management
- Health Data Storage & Exchange
Smart Healthcare Market, By End-User (Revenue, 2021-2029, USD Billion)
- Hospitals & Clinics
- Home Care Settings
- Diagnostic Laboratories
- Others
Smart Healthcare Market, By Region (Revenue, 2021-2029, USD Billion)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
Scope of Smart Healthcare Market Report:
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Table of Contents: Smart Healthcare Market 2021-2029
- Research Methodology
- Study Objectives
- Study Scope
- Research Assumptions
- Research Framework
- Research Models
- Bottom-up Approach
- Top-down Approach
- Data Triangulation
- Data Procurement
- Internal Database
- Secondary Research
- Purchased Database
- Primary Research
- Data Analysis
- Data Validation
- Market Size Estimation
- Market Forecast Model
- Quality Assessment
- Research Models
- Introduction: Smart Healthcare
- Executive Summary
- Global Market Scenario
- Segment Market Scenario
- Geographic Market Scenario
- COVID-19 Impact
- Competitive Landscape
- Market Dynamics
- Market Drivers
- Driver 1
- Driver 2
- Driver 3
- Driver 4
- Driver 5
- Market Restraint
- Restraint 1
- Restraint 2
- Restraint 3
- Restraint 4
- Market Opportunities
- Opportunity 1
- Opportunity 2
- Opportunity 3
- Opportunity 4
- Market Trends
- Trend 1
- Trend 2
- Trend 3
- Trend 4
- Market Challenges
- Challenge 1
- Challenge 2
- Challenge 3
- Challenge 4
- Market Drivers
- Market Environment Analysis
- Porter’s 5 Forces Analysis
- PESTEL Analysis
- Value Chain Analysis
- SWOT Analysis
- Benchmark
- COVID-19 Impact Analysis: Smart Healthcare Market
- COVID-19: Overview
- COVID-19 Impact on the Global Market
- COVID-19 Impact on the Regional Markets
- Market Analysis by Product
- RFID smart cabinets
- RFID smart cabinets Market Forecast, 2021-2029 (USD Million)
- RFID canban systems
- RFID canban systems Market Forecast, 2021-2029 (USD Million)
- Telemedicine
- TelemedicineMarket Forecast, 2021-2029 (USD Million)
- Smart pills
- Smart pills Market Forecast, 2021-2029 (USD Million)
- mhealth
- mhealth Market Forecast, 2021-2029 (USD Million)
- Smart syringes
- Smart syringes Market Forecast, 2021-2029 (USD Million)
- Electronic health records (EHR)
- Electronic health records (EHR) Market Forecast, 2021-2029 (USD Million)
- RFID smart cabinets
- Regional Market Analysis
- Regional Market Trends
- Regional Market: Comparative Analysis
- North America Smart Healthcare Market
- North America Smart Healthcare Market
- North America Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- S. Smart Healthcare Market
- S. Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Canada Smart Healthcare Market
- Canada Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Canada Market Size and Forecast, 2021-2029 (USD Million)
- S. Market Size and Forecast, 2021-2029 (USD Million)
- North America Market Size and Forecast, 2021-2029 (USD Million)
- North America Smart Healthcare Market
- Europe Smart Healthcare Market
- Europe Smart Healthcare Market
- Europe Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Germany Smart Healthcare Market
- Germany Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- UK Smart Healthcare Market
- UK Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- France Smart Healthcare Market
- France Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Spain Smart Healthcare Market
- Spain Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Italy Smart Healthcare Market
- Italy Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Rest of Europe Smart Healthcare Market
- Rest of Europe Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Rest of Europe Market Size and Forecast, 2021-2029 (USD Million)
- Italy Market Size and Forecast, 2021-2029 (USD Million)
- Spain Market Size and Forecast, 2021-2029 (USD Million)
- France Market Size and Forecast, 2021-2029 (USD Million)
- UK Market Size and Forecast, 2021-2029 (USD Million)
- Germany Market Size and Forecast, 2021-2029 (USD Million)
- Europe Market Size and Forecast, 2021-2029 (USD Million)
- Europe Smart Healthcare Market
- Asia Pacific Smart Healthcare Market
- Asia Pacific Smart Healthcare Market
- Asia Pacific Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Japan Smart Healthcare Market
- Japan Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- China Smart Healthcare Market
- China Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- India Smart Healthcare Market
- India Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- South Korea Smart Healthcare Market
- South Korea Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Australia Smart Healthcare Market
- Australia Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Rest of Asia Pacific Smart Healthcare Market
- Rest of Asia Pacific Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Rest of Asia Pacific Market Size and Forecast, 2021-2029 (USD Million)
- Australia Market Size and Forecast, 2021-2029 (USD Million)
- South Korea Market Size and Forecast, 2021-2029 (USD Million)
- India Market Size and Forecast, 2021-2029 (USD Million)
- China Market Size and Forecast, 2021-2029 (USD Million)
- Japan Market Size and Forecast, 2021-2029 (USD Million)
- Asia Pacific Market Size and Forecast, 2021-2029 (USD Million)
- Asia Pacific Smart Healthcare Market
- Latin America Smart Healthcare Market
- Latin America Smart Healthcare Market
- Latin America Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Brazil Smart Healthcare Market
- Brazil Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Mexico Smart Healthcare Market
- Mexico Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Argentina Smart Healthcare Market
- Argentina Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Rest of Latin America Smart Healthcare Market
- Rest of Latin America Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Rest of Latin America Market Size and Forecast, 2021-2029 (USD Million)
- Argentina Market Size and Forecast, 2021-2029 (USD Million)
- Mexico Market Size and Forecast, 2021-2029 (USD Million)
- Brazil Market Size and Forecast, 2021-2029 (USD Million)
- Latin America Market Size and Forecast, 2021-2029 (USD Million)
- Latin America Smart Healthcare Market
- MEA Smart Healthcare Market
- MEA Smart Healthcare Market
- MEA Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- GCC Smart Healthcare Market
- GCC Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- South Africa Smart Healthcare Market
- South Africa Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Rest of MEA Smart Healthcare Market
- Rest of MEA Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Product, 2021-2029 (USD Million)
- Rest of MEA Market Size and Forecast, 2021-2029 (USD Million)
- South Africa Market Size and Forecast, 2021-2029 (USD Million)
- GCC Market Size and Forecast, 2021-2029 (USD Million)
- MEA Market Size and Forecast, 2021-2029 (USD Million)
- MEA Smart Healthcare Market
- Competitor Analysis
- Market Share Analysis, 2021-2029
- Competitive Mapping
- Key Players Market Place Analysis
- Major Recent Developments
- Company Profiles
- Intel (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Koninklijke Philips (Netherlands)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Microsoft (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- IBM (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Siemens Healthineers (Germany)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Nvidia (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Google (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- General Electric Company (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Medtronic (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Micron Technology (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Amazon Web Services (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Johnson & Johnson (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- General Vision (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- CloudmedX (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Oncora Medical (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Others Prominent Players
- Intel (US)
- Conclusion & Recommendations