Global smart hospitals market to surpass $103bn by 2027

smart medicine

Companies are focusing on launching new applications in order to establish smart hospitals through artificial intelligence which is expected to drive the growth of the global market.

The global smart hospitals market is forecast to exceed $103.6bn by end of 2027, a new research study finds.

According to Coherent Market Insight’s (CMI) analysis, this will demonstrate a compound annual growth rate (CAGR) of 19.6 per cent during the forecast period of 2020 through to 2027.

Constant patient monitoring

Increasing prevalence of Covid-19 cases has created demand for constant patient monitoring using sensors and Internet of Things (IoT) devices to track patients, temperatures, movements, and items in order to cope with the pandemic and provide treatment to patients who are suffering from Covid-19.

Companies are focusing on launching new applications in order to establish smart hospitals through artificial intelligence (AI) which is expected to drive the growth of the global smart hospitals market during the forecast period, notes Coherent.

For instance, in May 2020, Nvidia Corporation, a US multinational technology company, introduced Clara Guardian, an application developed to accelerate development and deployment of smart sensors with multimodal artificial intelligence (AI) anywhere in the hospital.

Nvidia Clara Guardian delivers AI-powered video and audio data, which enables organisations to transform themselves into smart hospitals.

Market players and healthcare organisations are also collaborating to build smart hospitals. For instance, Capsule Technologies collaborated with Yale New Haven Health System to deploy Capsule’s Ventilated Patient Surveillance (VPS) workstation to provide safe and effective patient care to its Covid-19 ventilated patients.

Similarly, Aden Group, integrated facility management (IFM) company announced that along with the Dassault Systèmes, a company operating in collaborative 3D virtual environments will develop and launch Akila Care, a modular smart hospital.

Furthermore, CMI’s study finds that various healthcare facilities are focusing on converting into smart hospitals to provide high quality medical services which is expected to boost the market growth during the forecast period.

For instance, West China Second University Hospital, affiliated to Sichuan University, China, launched 5G medical private network, purpose built-in hospitals enhanced with mobile edge computing (MEC) devices which provide full integration among cloud, networks, and services.

The 5G medical private network provides low latency, high data rates, and massive connectivity for personalised network services in hospitals.

Source: smartcitiesworld.net

Related posts

Leave a Comment