The Asia Pacific smart hospitals market is anticipated to witness growth by a CAGR of 25.28% during the forecast period, i.e., 2020-2028
The Asia Pacific region has witnessed a surge in the government expenditure in the healthcare sector over the past few years. The healthcare industry has also observed downpouring investments from the private players so as to adopt smart technologies in the healthcare setting. Moreover, backed by the growing geriatric population in the nations in the region, there is a rising need for quality healthcare services for treating these people, which is raising the need amongst the healthcare service providers to adopt smart technologies and optimize their process efficiency. Such factors are anticipated to drive the growth of the Asia Pacific smart hospitals market.
Research Nester has released a report titled “Asia Pacific Smart Hospitals Market: Demand Analysis & Opportunity Outlook 2028″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The World Bank, in one of its statistics, stated that the current health expenditure (% of GDP) in India, China, Japan, Korea Republic, and Australia was 3.54%, 5.35%, 10.95%, 7.56%, and 9.28% respectively in the year 2018.
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The Asia Pacific smart hospitals market is anticipated to witness growth by a CAGR of 25.28% during the forecast period, i.e., 2020-2028, and further garner USD 61289.56 Million by 2028 from a revenue of USD 8244.18 Million in 2019. The market is segmented by technology into artificial intelligence, wearable technology, blockchain, augmented reality, radio frequency identification (RFID), and others, out of which, the artificial intelligence segment is projected to hold the largest market share in the year 2021 and attain a revenue of USD 4041.69 Million in the year 2021. The numerous benefits associated with the artificial intelligence technologies in a healthcare setting is one of the major factors anticipated to contribute to the growth of the segment during the forecast period.
The smart hospitals market in China is projected to grow with a CAGR of 26.47% during the forecast period. The market in the nation also held the largest market share of 50.7% in 2019, backed by the increasing rate of population and the need for improving the capacity of the healthcare service providers. Moreover, numerous favorable initiatives of the government that focuses on the development of the healthcare infrastructure, is also anticipated to drive the market growth.
However, the challenge of dealing with smart technologies by the healthcare staffs owing to the lack of knowledge and information to operate these technologies is anticipated to act as a key restraint to the growth of the Asia Pacific smart hospitals market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Asia Pacific smart hospitals market, which includes company profiling of Siemens Aktienge sells chaft (ETR: SIE), Microsoft Corporation (NASDAQ: MSFT), athena health, Inc., Samsung (KRX: 005930), Cerner Corporation (NASDAQ: CERN), Koninklijke Philips N.V. (AMS: PHIA), Medtronic plc (NYSE: MDT), and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Asia Pacific Smart Hospitals Market: Demand Analysis & Opportunity Outlook 2028”, analyses the overall Asia Pacific smart hospitals industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Asia Pacific smart hospitals market in the near future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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