Previously in 2013, the global smart healthcare products market revenue was projected to be xx million USD, and raise to xx million USD after a period of four years. The smart healthcare products market size is expected to witness a growth of xx million USD in 2023, with a CAGR of xx% during the forecast period.
The global smart healthcare products industry is enhancing at a rapid pace. Resulting, patient record statistics has been considered a significant part in the healthcare ecosystem. The concept of IoT demands the use of electronic devices that detect or monitor health data. These devices are connected to a public as well as private cloud enabling to trigger certain actions occurring in the patient’s body. The demand for such connected devices will widely span across multiple industries including the automotive, retail, education, and energy. The users nowadays are habitual to a higher level of convenience, automation, and efficiency, however, this results to the necessity for implementing IoT for healthcare in the current scenario of the market. IoT is supremely bringing the advanced technique in the industry to offer smart treatment to the patients. According to the analysis, 30.3% IoT devices can be found in the global smart healthcare products market share. Soon in the near future, patients are going to experience smart and regular treatment with personalized care on the go.
Following are the top benefits of using IoT in global smart healthcare products industry:
Nowadays, hospitals take advantage of real-time location services with badges for keeping a track record of medical devices used by patients and hospital staff. However, hospitals are taking advantage of tracking tools for management of assets such as ECG machine, wheelchairs, defibrillators and stretchers for the patients.
Healthcare platforms mainly prefer IoT devices for keeping an eye on hospital environments. The monitoring devices measure response of the patient’s body; logging both to the cloud for aggregate analysis and finding out if the hospital environment is convincing and comfortable for health conditions. WorkCenter anywhere is an iOS application that primarily helps data integration in hospitals by streamlining nursing operations by automatic chart, updating, giving the list of patients to be review etc. Hand hygiene also comes under environment monitoring in healthcare.
Wearable device Innovation
Wearable medical kit alerts is the new innovation in the healthcare industry which alerts the doctors about any medical damage occurred in the patient’s regular schedule. iGlucoCheck is a diabetic management solution that allows the patient to maintain the glucose level. The tracking records is stored for a period of 2 months as an observation basis.
Efficient Disease Management
The smart health monitoring tool enables the doctors to access real-time health data and allows them to monitor their patients on regular intervals. As a result, the patient can detect the illness and get treated before getting into the complications. Automated workflows, and accurate data minimizing errors provide the productive patient outcome. Patients living in remote areas prefer mobile applications that allows the patient to check health factors and consult the doctor at the earliest which led to the growth of global smart healthcare products market share.
Lowers Health Expenses
The healthcare IoT mainly use cases which enables the healthcare providers to look for regular patient monitoring systems and allows patients to be free from the multiple visits to the hospital, thus bolstering global smart healthcare products market size. This allows patients to save money over health expense cutting down long hospital stays and re-enrollment.
(By Product Type - Smart Syringes, Smart Pills, Smart RFID Cabinets and Electronic Health Record; By Application - Health Data Storage and Exchange, Monitoring and Treatment, and Inventory Management
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America