The Global Smart Healthcare Market is expected to grow at a CAGR of 8.5% to reach $245 billion by 2026 from $150 billion in 2020. The new market research report by Facts and Factors is titled ‘Smart Healthcare Market by Product Type, Application, End User: Global & Regional Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2021-2026’.
The smart healthcare goods are like equipment that employs advanced technology to give patients with better treatment and improve their quality of life. These goods provide exact patient data to clinicians, allowing them to better treat their patients. Smart healthcare goods are devices that use cutting-edge technology to provide patients with better care and a higher quality of life. Such devices even provide clinicians with precise patient data, allowing them to better treat their patients.
During the projection period, the smart healthcare market would be driven by rising demand for IoT in home healthcare. IoT technology integrates a variety of systems and devices, such as sensors, actuators, computers, and smartphones, to create a highly distributed intelligent system so that it can communicate with humans and other devices.
The advancements in communication and processing technologies, along with improved, low-cost actuators, sensors, and electrical components. IoT in healthcare, combined with integrated e-health and assisted living technologies, has the potential to revolutionize the healthcare, combined with integrated e-health and assisted living technologies, has the potential to revolutionize the healthcare system for the aged, boosting the growth of the smart healthcare market. Moreover, increasing engagement from industry players is aiding the market to grow.
Citing an instance, Phillips had launched a new application for the eCareManager acuity-based scoring tools in April 2020 to analyze patient conditions for deterioration or any undesirable patterns associated with COVID-19 in April 2020. Teladoc Health, meanwhile, debuts Teladoc medical experts in October 2019 for patients with complex mental and physical health concerns. This is designed to seamlessly connect expert medical services and clinicians with their patients. During the projected period, such advances are projected to drive the market.
Again, the Quebec government, in partnership with the Canadian Medical Association (CMA), decided in March 2020 to increase the availability of telehealth services across Canada, including New Brunswick, Alberta, Manitoba, British Columbia, Newfoundland, Ontario, and Labrador, and others. Such efforts are projected to propel digital patient-centered healthcare services to the forefront around the world.
