How big is the Smart Hospital Market?

The Smart Hospital Market size is expected to reach USD 60.35 billion in 2024 and grow at a CAGR of 19.71% to reach USD 148.36 billion by 2029. Read More

What is the current Smart Hospital Market size?

In 2024, the Smart Hospital Market size is expected to reach USD 60.35 billion. Read More

Who are the key players in Smart Hospital Market?

Koninklijke Philips N.V., GE Healthcare ( General Electric), Medtronic plc, Honeywell Life Care Solutions ( Honeywell International Inc) and Stanley Healthcare are the major companies operating in the Smart Hospital Market. Read More

Which is the fastest growing region in Smart Hospital Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Smart Hospital Market?

In 2024, the Europe accounts for the largest market share in Smart Hospital Market. Read More

What years does this Smart Hospital Market cover, and what was the market size in 2023?

In 2023, the Smart Hospital Market size was estimated at USD 50.41 billion. The report covers the Smart Hospital Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Hospital Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Smart Hospital Market - Size, Trends & Industry Analysis

Smart Hospital Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Smart Hospital Market Overview and it is Segmented by Component (Hardware, Software, and Services), Application (Electronic Health Record, Remote Patient Monitoring, Pharmacy Automation, Mobile Asset Tracking, and Other Applications), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value in USD billion for all the above segments.

Smart Hospital Industry Overview

The Smart Hospital market is moderately fragmented because of the major players. These players include Koninklijke Philips NV, GE Healthcare, Medtronic PLC, Honeywell Life Care Solutions, and Stanley Healthcare. To sustain intense competition, some prime growth strategies that the companies adopt are product launches, high expenses on research and development, partnerships and acquisitions, etc.

In July 2022, GE Healthcare inaugurated the company's first 5G innovation lab. The lab aimed at developing healthcare solutions by employing 5G and other smart solutions, such as artificial intelligence, augmented and virtual reality, and advanced visualization to streamline image transfers and teleradiology. It also enabled the company to foster collaborations with various academia, industry researchers, and startups to co-create future-ready solutions.