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Global Smart Healthcare Market to Register Remarkable 25.0% CAGR over 2016-2020 due to Growing Popularity of Healthcare Wearables

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Published on : Jan 04, 2017

ALBANY, NY, Jan 04, 2017: The research report offers a detailed analysis, presenting insights into the key factors that are estimated to impact the development of the overall market in the next few years. In addition, the key drivers, barriers, latest trends, and the limitations in the global smart healthcare market have been highlighted in the research study to offer a detailed understanding of the market. The technological developments, product portfolio, primary applications, geographical segmentation, and the competitive landscape of the market have been discussed at length in the research report.

According to the research study, the global market for smart healthcare is estimated to register an impressive 25.0% CAGR between 2016 and 2020. The tremendously rising popularity of healthcare wearables among consumers is one of the primary reasons expected to augment global smart healthcare market throughout the forecast period. Moreover, the introduction of big data analytics in the healthcare industry is product to accelerate smart healthcare market's growth in the coming years.

On the basis of solution, the global smart healthcare market has been classified into smart pills, mHealth, EHR, and Telemedicine. In 2015, the electronic health records (EHR) led the global smart healthcare market and is predicted to remain dominant throughout the forecast period. With the introduction of favorable government initiatives, such as the American Recovery and Reinvestment Act, is anticipated to fuel the growth of the segment in the next few years.  

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Among the key geographical segments, in 2015, North America led the global smart healthcare market and is expected to remain in the leading position throughout the forecast period. The rising government initiatives to enhance the healthcare infrastructure and the technological developments in this sector are some of the key factors estimated to supplement the growth of this region in the next few years. In addition, the high contribution from the U.S. is predicted to accelerate the growth of the market in the coming years. 

The global smart healthcare market is extremely competitive and fragmented in nature with presence of a large number of established players operating in it. With the influx of new players, the global smart healthcare market is anticipated to witness stiff competition in the next few years. In addition, the rising number of mergers and acquisitions and strategic collaborations is projected to contribute extensively towards the development of the overall market. Some of the prominent players operating in the global smart healthcare market are Olympus, GE Healthcare, Voxiva, Honeywell Life Care Solutions, IBM, Samsung Electronics,  AT&T, HP Enterprises Services, Allscripts, Epic Systems, Apple, OMRON, F. Hoffmann-La Roche, Microsoft, Johnson and Johnson, Google, Abbott, Qualcomm, and STANLEY Healthcare Solutions.

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