Smart Healthcare Products Market - Size, Share,
trends, and Forecast to 2026
Smart healthcare products are technology-based products, which offers benefit of advancements
in IT hardware and software for better healthcare delivery. They are emerging set of products
with positive prospects in near future due to increasing amalgation of information technology in
health offerings services. They could save on ever-growing health care cost by imparting
operational efficiency and could bring better clinical outcome with monitoring tools such as
smart pill etc.
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Market Dynamics
Increasing number of people above age 60 worldwide leads to higher requirement of healthcare
needs with more emphasis on long term care and chronic disease care, which is one the major
drivers for growth of the market. Developed economies such as U.S. and Europe are witnessing
high number of population ageing 65 and above. According to the U.S. Census Bureau’s report
of 2017, around 47.8 million people were aged 65 and older in the U.S. in 2015 accounting for
14.9% of the total population, a 1.6 million increase from 2014. Europe is currently having
highest 65 years and above age population, which is 25% of entire population, according to the
Population Prospect Report of the United Nations published in 2017. Smart pill and smart
syringe would prove to be important smart healthcare products platform for this population.
Another important factor for growth of the smart healthcare products market would be high
technological penetration in the smart healthcare products market domain. For instance, cloud-
based electronic medical record, which could be shared amongst entire healthcare stakeholders
would make entire health operation smooth and efficient.