[2021-2028] Smart Hospitals Market Size, Share, Growth, Trends, Revenue, Competitive Landscape, Forecast

By Globe Newswire12 days ago

Pune, India, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The Global Smart Hospitals Market is likely to gain from increasing incidence of chronic diseases and further rising demand for hospitals, finds Fortune Business Insights in a report, and Geography Forecast till 2026.

According to the report, North America emerged dominant in the global market in 2018. The region is likely to witness promising growth during the forecast period 2019-2026. Integration ofadvanced computing application and increasing workload pressure on hospitals are some factors anticipated to drive the North America market. Moreover, rising need to manage abundance of patient's data with utmost security is foreseen to fuel the demand for smart hospitals. Besides this, Middle East & Africa region is expected to expand at a relatively higher CAGR.

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Longer Hospital Stays to Drive the Market

Increasing hospital stays and increasing demand for workflow efficiency are some factors anticipated to drive the global market. Moreover, rising need to improve clinical procedure and rising willingness among people to spend on quality healthcare services are factors expected to fuel demand for smart hospitals.

Technological advancements and upgrades are likely to facilitate rapid adoption of smart hospitals. For instance, EIR Healthcare designed the world's first application of modular technology and prefabrication of hospital rooms in 2018. The app is developed to facilitate minimal budget and faster delivery.

Factors expected to restrain the global market are high cost of software development and deployment and increasing concern about data security. Moreover, complex user interface and slow adoption of hospital-based software are factors likely to hamper the growth in the market.

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