Latin America Smart Hospital Market Size, Forthcoming Development Status 2021: Latest Research Report by CAGR Status, Development Trends, Top Key Players, Opportunities and Competitive Landscape till 2030

In a recent published report, Kenneth Research has updated the Market report for Latin America Smart Hospital Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Latin America Smart Hospital Market Products.

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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

In Latin America, due to adoption of technologies the market is expected to grow. With the help of partnerships with other industry players, the market is expected to grow. Internet and smartphone usage rates have grown much to accept the disruption of the digital medical services. According to Netscribes, the Latin America smart hospital market is expected to have a significant compound annual growth rate (CAGR) of 15.40% and reach a market size of USD 0.80 Bn by 2023.
Wearable devices, mobile health (mHealth) apps and wireless connectivity have already entered the market and hence it is easier for the companies to enter the market in Latin America to introduce smart hospital advancements. The features that the region have accepted at the greatest extent right now are mHealth and electronic health record. The region is also slowly implementing remote patient monitoring, outpatient vigilance and other offerings of the smart hospital.

The Latin American smart hospital market is bifurcated on the basis of product (smart pills, mHealth, telemedicine, electronic health record and others), application (remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging and medical assistance) and artificial intelligence (AI) (offering and technology). The technologies used are AI, cloud computing, radio frequencies identification, wearable technologies, zigbee technologies, the Internet of Things (IoT) and others. This region includes Argentina, Brazil and Mexico as majorly contributing countries.

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Key growth factors

The Latin America are currently focusing on mHealth because of mobile popularity in most of the countries of this region. Government initiatives in the healthcare sector, specifically for smart hospitals are boosting the service providers in the region. Awareness about digital health technologies is driving the demand for wearable health apps and digital therapeutic solutions. Investments in digital healthcare along with the entrance of several digital healthcare startups in the Latin American region are enhancing the smart hospital market.

Threats and key players

In Latin America, about 30% of the population do not have access to healthcare due to poor economic conditions. There is also a lack of adequate resources in the healthcare industry in the region and only a few countries in the region meet international standards of physicians per inhabitants or hospital beds available per inhabitants’ ratio. These hamper the growth of the market.
The major players in the smart hospital market are Microsoft, GE Healthcare, Qualcomm Life, Honeywell Life Care Solutions, Allscripts, CitiusTech Inc., Infor, Athenahealth, PhysIQ, AdhereTech, Epic, GlucoVista, STANLEY Healthcare, Cerner Corporation, McKesson, etc.

What’s covered in the report?

1. Overview of the Latin American smart hospital market.
2. Historical, current and forecasted market size data for smart pills, mHealth, telemedicine, electronic health record and others.
3. Historical, current and forecasted market size data for remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging and medical assistance.
4. Historical, current and forecasted market size data for offering and technology.
5. Historical, current and forecasted country-wise (Argentina, Brazil and Mexico) market size data for Argentina, Brazil and Mexico smart hospital market segmentations by product (smart pills, mHealth, telemedicine, electronic health record and others), by application (remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging and medical assistance) and by AI (offering and technology).Market trends in the Latin American smart hospital market.
6. Qualitative analysis of the key drivers and challenges affecting the Latin American smart hospital market and its segments (by product – smart pills, mHealth, telemedicine, electronic health record, others, by application – remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging, medical assistance, by artificial intelligence – offering, technology).
7. Analysis of the competitive landscape and profiles of major players operating in the market.

Why buy?

1. Get a broad understanding of the Latin American smart hospital market.
2. Get country-specific market size and observations for the Latin American smart hospital market and its segments by product (smart pills, mHealth, telemedicine, electronic health record and others), by application (remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging and medical assistance) and by AI (offering and technology).
3. Get specific trends, drivers and challenges for the Latin American smart hospital market and its segments by product (smart pills, mHealth, telemedicine, electronic health record and others), by application (remote medicine management, electronic health record and clinical workflow, outpatient vigilance, medical connected imaging and medical assistance) and by AI (offering and technology).
4. Recognize major competitors’ business and market dynamics, and respond accordingly

The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of Latin America Smart Hospital Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Playes
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.

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