Smart Healthcare Products Market Size Was Valued at US$ 34,720 Million in 2018

Smart Healthcare Products Market Size,
Share, Trend, Outlook, Future Analysis And
Synthesis By 2026
Smart healthcare product is a cluster of multiplatform technologies that involves use of new age
information communication technologies that utilizes digital, mobile, and cloud-based platforms in order
to provide quality healthcare to patients. Smart healthcare product platforms such as electronic health
record help in the efficient patient management and better clinical outcome. Smart healthcare product
platform brings the stakeholder in healthcare system close such as patients, health care practitioners,
researchers, medical device industry firms thereby makes whole healthcare system efficient. Various
advantages offered by smart healthcare products include reduction in inefficiencies, improved access to
healthcare services, reduction in healthcare costs, increased quality aspect of healthcare, and making
medicine more personalized and efficient for patients. Smart healthcare product platforms such as digital
medicine allows close monitoring of the patient on medicine course, which improves medication
adherence especially in case of chronic diseases.
The global smart healthcare products market size was valued at US$ 34,720 million in 2017, and is
expected to witness a CAGR of 9.3% over the forecast period (2018 – 2026).
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Market Dynamics
Increasing number of people above age 60 worldwide leads to higher requirement of healthcare
needs with more emphasis on long term care and chronic disease care, which is one the major
drivers for growth of the market. Developed economies such as U.S. and Europe are witnessing
high number of population ageing 65 and above. According to the U.S. Census Bureau’s report
of 2017, around 47.8 million people were aged 65 and older in the U.S. in 2015 accounting for
14.9% of the total population, a 1.6 million increase from 2014. Europe is currently having
highest 65 years and above age population, which is 25% of entire population, according to the
Population Prospect Report of the United Nations published in 2017. Smart pill and smart
syringe would prove to be important smart healthcare products platform for this population.
Another important factor for growth of the smart healthcare products market would be high
technological penetration in the smart healthcare products market domain. For instance, cloudbased electronic medical record, which could be shared amongst entire healthcare stakeholders
would make entire health operation smooth and efficient.
Report includes chapters which deeply display the following deliverable about industry :
• Smart Healthcare Products Market Research Objective and Assumption
• Smart Healthcare Products Market Purview - Report Description, Executive Summary, and
Coherent Opportunity Map (COM)
• Smart Healthcare Products Market Dynamics, Regulations, and Trends Analysis - Market
Dynamics, Regulatory Scenario, Industry Trend, Merger and Acquisitions, New system
Launch/Approvals, Value Chain Analysis, Porter’s Analysis, and PEST Analysis
• Global Smart Healthcare Products Market, By Regions
• Smart Healthcare Products Market Competition by Manufacturers including Production, Share,
Revenue, Average Price, Manufacturing Base Distribution, Sales Area and Product Type.
• Smart Healthcare Products Market Manufacturers Profiles/Analysis including Company Basic
Information, Manufacturing Base and Its Competitors.
• Smart Healthcare Products Market Manufacturing Cost Analysis including Key Raw Materials
and Key Suppliers of Raw Materials.
• Industrial Chain, Sourcing Strategy and Downstream Buyers including Upstream Raw Materials
Sourcing and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders including Marketing Channel, Market
Positioning and Distributors/Traders List.
• Market Effect Factors Analysis including Technology Progress/Risk, Consumer Needs/Customer
Preference Change and Economic/Political Environmental Change.
• Smart Healthcare Products Market Forecast including Production, Consumption, Import and
Export Forecast by Type, Applications and Region.
Increasing number of geriatric population and high prevalence of chronic disease for various parameters
is expected to propel growth of the smart healthcare products market
Population across globe is slowly observing growth in median age with higher number of people crossing
age bracket of 60 and above. According to the Population Prospects Report of United Nations published
in 2017, an estimated 962 million people were aged 60 or over in the world (13 per cent of the global
population) in 2017. The population aged 60 or above is growing at a rate of around 3% annually and
it is estimated to reach 1.4 billion by 2030. Such high number of aging population would be immensely
benefitted with smart healthcare products.
Top Key Players
Key players operating in smart healthcare products market include Allscripts Healthcare Solutions Inc.
Medtronic, Inc., Becton Dickinson & Company, Honeywell Life Care Solutions, AirStrip Technologies,
Cerner Corporation, Stanley Healthcare, Terumo Corporation, Olympus Corporation, and eClinicalWorks.
Detailed Segmentation:
Global Smart Healthcare Products Market, By Product Type:
•
Electronic Health Record
•
Smart Pill
•
Smart Syringes
•
RFID Systems
•
Other
Global Smart Healthcare Products Market, By Applications:
•
Health Data Storage
•
Monitoring and Treatment
•
Inventory Management
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About Coherent Market Insights
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The global smart healthcare products market size was valued at US$ 34,720 million in 2017, and is expected to witness a CAGR of 9.3% over the forecast period (2018 – 2026).