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Advances in Healthcare IT and Integration of Inventory Management Solutions the Major Forces Driving Demand for Smart Healthcare Products

Blog Description

Organizations across all mainstream industries are reporting cases of various health issues such as diabetes, obesity, and autoimmune disorders among their workers. Considering the rising prevalence of such health issues, several organizations are offering various smart healthcare products to their employees to maintain better health. While the demand for smart healthcare products is strengthening steadily, leading companies in the healthcare sector are consistently advertising their new products to boost their contribution. 

Browse Full Global Smart Healthcare Products Market Report with TOC :

Smart healthcare comprises the use of communication technologies to enhance the treatment of the health issues faced by patients. Primarily, smart healthcare comprises the introduction of various healthcare ecosystems based on the use of smart devices, communication media, computational technologies, and computational practices, which helps patients and healthcare professionals to better manage health issues.

How have Technological Advancements Impacted the Smart Healthcare Market?

The need for technological innovation has reached every industry across the globe and has transformed every industry it has touched. In the healthcare industry, technological development is playing a leading role in completely remaking the industry and the way it operates. Thanks to the evolution of technology and the resultant development of smart healthcare products, a major part of the healthcare industry chain has been automated.

Smart devices such as tablets and smartphones have replaced traditional healthcare monitoring systems. People can now use smartphones to track and record personal health issues and receive suitable prescriptions from medical professionals. The advent of advanced technology has also contributed immensely to the development of the home healthcare segment. Telemedicine, mHealth, electronic health recording systems, remote monitoring systems, self-help kiosks, wireless communication, and wearable medical devices are some of the examples of technological advances in the healthcare industry.

The advent of healthcare IT has helped leading healthcare service providers design, develop, manage, and maintain a better quality of healthcare services. Automated healthcare systems have also improved the standard of medical care at lower costs.

Growing Sale of New Smart Healthcare Products to Drive Market

The global smart healthcare products market stood at US$29.38 bn in 2015 and is expected to reach US$57.85 bn by 2023, exhibiting an 8.84% CAGR from 2015 to 2023. In recent years, there has been an increasing incorporation of inventory management solutions for minimizing inventory costs. This is expected to boost the sales of smart healthcare products. However, the market is expected to be affected by factors such as privacy issues and the high capital requirement.

Browse the full Press Release of Global Smart Healthcare Products Market at

Thanks to the consistent introduction of new healthcare products by leading players, the global market is set for rapid growth. Epic Systems Corporation, eClinicalWorks, Medtronic, Becton Dickinson and Company, Stanley Healthcare, TAGSYS, Allscripts Healthcare Solutions, Inc., CapsoVision, Inc. Olympus Corporation, and Terumo Corporation are some of the prominent companies operating in the global smart healthcare products market. Smart pills, smart syringes, smart RFID cabinets, and electronic health records are some of the smart healthcare products offered by the leading players.

The growing number of people facing various healthcare issues has made the smart healthcare products highly lucrative. Due to promising the opportunities in the global smart healthcare products market, many new companies are expected to enter the market in the coming years, making the global market highly competitive.