SMART HOSPITALS MARKET ANALYSIS

Market News

Global Smart Hospitals Market: Key Developments

On April 17, 2023, Microsoft, a software company, and Epic, a software development company, announced that the company are expanding their long-standing strategic collaboration to develop and integrate generative AI (Artificial Intelligence) into healthcare by combining the scale and power of Azure OpenAI Service with Epic's electronic health record (EHR) software. The collaboration expands the long-standing partnership, which includes enabling organizations to run Epic environments on the Microsoft Azure cloud platform.

In October 2022, OMNIMED, a medical technology company, announced the launch of OMNIMED SmartOR, a customized network of modular, data-driven technologies that sense, observe and understand the complex activities of hospital operating rooms and surgical suites. The SmartOR collects, analyzes and measures millions of data-points. These real-time insights can be used to adjust actions, automate routine tasks, optimize traffic and workflow, reduce labor costs and streamline complex procedures.

In November 2022, Konica Minolta Healthcare Americas, Inc., a healthcare technology company, announced that it is planning to make its premier cloud-based Exa Platform and Symmetry Picture Archiving and Communication System (PACS) accessible through the cloud as a Software as a Service (SaaS) model.

In August 2022, Medtronic, a leader in healthcare technology, announced it had entered into a strategic partnership with BioIntelliSense, a continuous health monitoring and clinical intelligence company, for the exclusive U.S. hospital and 30-day post-acute hospital-to-home distribution rights of the BioButton multi-parameter wearable for continuous, connected monitoring. The partnership enables the Medtronic Patient Monitoring business to offer access to a medical-grade device that provides continuous vital sign measurements of general care patients in-hospital as well as post-discharge.

In February 2022, ScImage, Inc., a leading provider of cloud-centric enterprise imaging and reporting solutions, announced the launch of its PICOM365 enterprise imaging workflow. This PICOM365 delivers the full functional capabilities of on-premises Picture Archiving and Communication System (PACS) software solutions and is powered by Microsoft Azure Cloud.

Global Smart Hospitals Market: Key Trends

Increasing growth strategies such as agreement and product launch by the market players

Increasing inorganic growth strategies such as agreements by the market players are expected to drive the growth of the market over the forecast period. For instance, In January 2022, Avisa Smart Hospitals, a private hospital, signed an agreement with Royal Hospital, an UAE-based hospital, to bring a smart hospital to Sharjah, UAE. Under the terms of the agreement, the Royal Hospital is being equipped with cutting-edge healthcare technologies and expertise.

Increasing organic growth strategies such as product launches by the market players are expected to drive the growth of the market over the forecast period. For instance, In August 2021, Change Healthcare, a U.S.-based healthcare company, announced the launch of Change Healthcare Stratus Imaging PACS. The newly launched Change Healthcare Stratus Imaging Picture Archiving and Communication System (PACS) is a comprehensive cloud software as a service (SaaS) solution for radiology practices.