Enhanced Patient Experience followed by Improved Outcomes of the Treatment to Drive the Smart Hospital Market in European Region : Ken Research

According to study, “Europe Smart Hospital Market (2018-2023)” some of the major companies that are currently working in the Europe Smart hospital market are Medtronics, Qualcomm Life, Stanley Healthcare, GE Healthcare, Cerner Corporation, Microsoft Corp., Siemens, Philips, McKesson, SAP, Honeywell Life Care Solutions, Citius Tech Inc., Allscripts, Infor Inc., Adhere Tech Corp., PhysIQ, Gluco Vista, Epic.

The smart hospital consists of a combination of hardware, software, wearable devices for patients and biomedical sensors etc. The sensors based equipment provides many different forms of tailored and situation adapted medical support, improving patient health and nursing consumer health conditions etc. Smart hospitals aid in balancing the clinical result excellence, operational or supply chain competence and strong patient support with the use new technology. Smart hospitals adds many features such as awareness to personal data, improved efficiency, development of the patient’s capabilities, quality improvement and improving relationship between health organization & patient etc. It also implements the modern security measures and performs dissemination auditing & testing. It supports multi collaborator communication proposals or Internet Speech Audio Codec (ISACs).

The smart hospitals include many smart assets such as networked medical devices, transportable client devices, networking tackle, interconnected medical information systems, recognition systems, data, buildings and distant care systems etc

The smart hospital concept includes multiple elements such as new workplace models, patient experience, supply chain management using real-time location system (RLTS) or radio frequency identification (RFID), provider-patient collaboration, home monitoring or remote care, population health management, data life cycle management, focused hospitals or micro hospitals and security etc.

On the basis of components, the smart hospital market is segmented into services, hardware and systems. On the basis of services rendered, the market is segmented into general, specialty and super specialty. On the basis of connectivity, the market is segmented into wired, wireless and others. On the basis of technology, the market is segmented into wearable technologies, internet of things (IOT), cloud computing, zigbee technologies, artificial technologies and RFID. All these technologies are used to help doctors for better medical treatment. IOT is used to connect medical devices with each other for transferring patient data. Artificial intelligence is used for smart medical services for reducing the health risks. In addition, on the basis of application, the market is segmented into medical assistance, outpatient vigilance, remote medicine management, electronic health record & clinical workflow and medical connected imaging etc.

Some of the major benefits of smart hospitals market include enhanced patient experience, decreased cost of the treatment, improved outcomes of treatment, improved disease management and reduced errors etc. The smart hospital market is driven by changing lifestyles of people, increasing severe diseases and increasing per capita income in the region. Moreover the European Health Insurance Card (EHIC) offers coverage of medically necessary healthcare services with free of charge under government expense.

The requirement for health services has increased fast in the Europe due to growing number of chronic diseases. The UK, Germany, Netherlands and Sweden have highly developed communications to organize next-generation health informatics function and building smart hospitals. It is expected that Europe smart hospital market will be reached at USD 16.7 billion, at a CAGR of 21.9 %, by 2023. In the upcoming years, it is estimated that the market is expected to increase owing to the value of technology-enabled healthcare development in the countries like France, Sweden and Ireland.

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Ken Research
Ankur Gupta, Head Marketing & Communications


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