Smarthospitals are medical facilities with advanced technology and software forreducing workload and lowering costs related with all of a hospital'sprocedures. The internet of things and artificial intelligence are commonlyused in smart hospitals. The global smart hospitals market was valued at $16,925 million in2017, and is predicted to grow at a CAGR of 17.3 percent to $58,777 million by2025.
The market isexpected to develop as technological advancements in healthcare combine with agrowing demand for cost-effective solutions in hospitals. However, the market'sgrowth is hampered by a lack of governance norms and expertise in integratingIoT systems in hospitals. Furthermore, the increased investment in thehealthcare industry, particularly in developing economies, creates lucrativemarket potential.
Component,product, connection, application, and artificial intelligence are all segmentsof the global smart hospitals market. The market is separated into threecategories based on component: hardware, system & software, and service.The market is divided into smart pills, health, telemedicine, and electronichealth records based on product. Furthermore, the market is divided into wiredand wireless segments based on connection. Wi-Fi, RFID, Bluetooth, and otherwireless technologies are all classified as part of the wireless category. Themarket is divided into remote medicine management, medical assistance, medicalconnected imaging, electronic health record & clinical workflow, andothers, depending on the application.
Thisexpansion is projected to be fueled by the introduction of new artificialintelligence-driven tools. The study used the example of NVIDIA Corporation, anAmerican technology corporation known for its gaming products, which debutedClara Guardian in May of this year. This was created to make it easier to usesmart sensors in conjunction with multimodal AI in any hospital setting. Theapplication provides AI-powered video and audio data to organisations, allowingthem to become smart hospitals.
Furthermore,as mobile and wearable devices become increasingly common among both staff andpatients, they open up new avenues for user involvement. For example, inOctober 2019, Cosinuss GmbH created a wearable device that can track heartrate, heart rate variability, body core temperature, blood oxygen level,breathing rate, and blood pressure and is worn in the ear like a hearing aid.The data gathered can be utilised to help patients improve their fitnesslevels. As a result, it contributes to market expansion.
A smarthospital is a medical facility that depends on automated processes to improveexisting patient care procedures by utilising digitally connected informationmanagement systems. It provides a variety of useful services that help toimprove clinical outcomes, supply chain efficiency, and healthcare servicedelivery. Smart hospitals market also help with medical connectedimaging, telemedicine, outpatient vigilance, and reducing errors in electronicmedical records (EMR), laboratory information systems, computerised physicianorder entry, and pharmacy information systems
smarthospitals market isprimarily driven by the ongoing upgrade of current healthcare infrastructuresfor improved patient health management. Furthermore, the market is beingbolstered by significant expansion in the healthcare information technology(IT) industry, as well as the increasing adoption of automated medicalprocedures. The market is being propelled forward by rising levels ofurbanisation and rising consumer expenditures on high-end medical care.
With theabrupt emergence of the COVID-19 pandemic, virtual care systems are quicklybeing used for remote patient monitoring and telemedicine services, propellingthe sector forward. Furthermore, the market is likely to be driven in thecoming years by the increasing integration of smart hospitals with varioussophisticated technologies including as AI, cloud computing, radiologyinformation systems (RIS), Big Data, Picture Archiving and Communication System(PACS), and others.
A smarthospital is a hardware system that works on software and offers healthcareprofessionals with services. Medical equipment are connected to the centralmonitoring devices via a wired or wireless network for data transfer. Smarthospitals market use a variety of innovative technology to improve thequality of care and the patient experience while lowering expenses. Governmentinitiatives to digitise healthcare have revolutionised the business globally,and demand for smart healthcare systems is expected to rise as a result.Because of the increasing use of smartphones, the mobile health application hasgrown at an exponential rate in recent years.
