Smart Healthcare Technologies and Product Market to Reach US$ 78.8 Billion by 2027 Globally |CAGR

7.15%| UnivDatos Market Insights - Seite 2

The COVID-19 pandemic gave a robust boom to the demand for smart healthcare technologies and products owing to the government's mandates for social distancing and quarantine. The demand for remote patient monitoring and portable smart healthcare products such as wearables and other health monitoring devices such as wearable blood pressure monitors, EKG monitors, etc. witnessed an uplift in the demand during the COVID pandemic. Also, investment in technologies such as AI and big data has increased. In a survey, it was found that around 83% of healthcare organizations have an AI strategy and 15% are in the planning phase to create one due to the COVID pandemic. Furthermore, funding for healthcare ai startups had also increased due to the pandemic. As per a study healthcare AI startups globally raised around US$ 980 Million in the first quarter of 2020.

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Global Smart Healthcare Technologies and Product Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Type, the market is primarily bifurcated into

• Electronic Health Record
• RFID Systems
• Smart Pill
• Smart Syringes
• Others

The electronic health record segment dominated the by type of the smart healthcare technologies and product market and will grow at 6.4% CAGR to reach US$ 50.9 billion by the year 2027.

By Application, the market is primarily segmented into

• Health Data Storage and Exchange
• Monitoring and Treatment
• Inventory Management

Amongst application, health data storage and exchange accounted for the largest share and is expected to grow at 6.4% CAGR during the forecast period 2021-2027. In 2019, the health data storage and exchange segment accounted for a revenue share of almost 70.5% in 2019.

By End-User, the market is primarily segmented into

• Hospitals
• Home Care Settings
• Others (Institutes, ASCs, Clinics, etc.)

In 2019, the hospitals' segment dominated the global smart healthcare technologies and product market with nearly 73.9% of the market share and it is anticipated by 2027, the segment will garner US$ 43.6 billion of the market.