Smart hospitals use technology to improve patient care and smart hospital operations. They have digital health records, connected medical devices, telemedicine services, and data analytics.
They also employ automation and robotics for administrative tasks, use location tracking for efficient resource allocation, and ensure data security.
Patient engagement apps, communication tools, and energy-efficient systems are common. Overall, smart hospitals focus on enhancing patient comfort and improving healthcare delivery are included in smart hospitals.
Table of Contents
Market Drivers
Smart hospitals are on the rise due to various factors. Healthcare costs are increasing, making it essential to optimize resources.
The aging population demands more healthcare services, while chronic disease management requires continuous monitoring. Government regulations encourage the use of digital healthcare solutions.
Advanced medical devices support real-time data collection, and telemedicine is gaining acceptance. Data security is a concern, and patients seek convenience and access to health records.
Smart hospitals adopt smart technologies to stay competitive and optimize resources. Sustainability is also a driving factor in promoting energy-efficient systems.
Market Size
The Smart Hospital Market will reach USD 283.3 billion by 2033, at a CAGR of 21.9%. In 2023, the total was USD 39.1 billion.
List of Companies
- Medtronic
- Koninklijke-Philips
- GE-Healthcare
- Siemens
- Athenahealth
- Allscripts-Healthcare-Solutions
- Microsoft-Corporation
- Samsung-Healthcare
- Honeywell-International
Medtronic
Company Overview
| Establishment Year | 1949 |
| Headquarter | Dublin, Ireland |
| Key Management | Geoff Martha (Chairman & CEO) Karen L. Parkhill (CFO) |
| Revenue (US$ Bn) | US$31.23 billion (2023) |
| Headcount | 95,000 (2023) |
| Website | https://www.medtronic.com/in-en/index.html |
About Medtronic
Medtronic Plc. is renowned for its innovative medical technologies spanning cardiology, diabetes management, neurology, and spinal surgery. They offer pacemakers, insulin pumps, heart valves, spinal implants, and surgical tools.
The company prioritizes research and development, collaborating with healthcare professionals and organizations to advance medical technology. Medtronic, a pioneer in implantable devices, emphasizes research, collaboration with healthcare experts, and global support services to advance medical tech and enhance patient care worldwide.
Geographical Presence
Medtronic, a global medical technology company, operates in over 150 countries across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The company has established offices, manufacturing facilities, and research and development centers in North America, while its European countries include the United Kingdom, Germany, France, and the Netherlands. In the Asia-Pacific region, it operates in Japan, China, India, and Australia.
Recent Developments
- In November 2023, The Symplicity Spyral renal denervation (RDN) system, also known as the Symplicity blood pressure procedure, received approval from the US Food and Drug Administration (FDA) for treating hypertension.
- In October 2023, Medtronic shared the news that the US FDA has given the green light for the use of the Epsila EV MRI SureScan and Aurora EV-ICD MRI SureScan
Koninklijke-Philips
Company Overview
| Establishment Year | 1891 |
| Headquarter | Amsterdam, Netherlands |
| Key Management | Roy Jakobs |
| Revenue (US$ Bn) | $ 18.7 billion (2022) |
| Headcount | 74,451 (2022) |
| Website | http://philips.com/ |
About Philips
Philips, a long-established global enterprise that originated in the Netherlands in 1891, has transformed over time into a highly diversified corporation, providing a wide array of goods and services. Philips is renowned for its significant contributions to healthcare, lighting, and consumer electronics.
The company has built a solid reputation for its groundbreaking developments in medical apparatus, lighting solutions, and household gadgets. Philips manufactures crucial items in the healthcare sector, such as medical imaging devices, patient monitoring systems, and health informatics solutions.
In the consumer market, they present various products, encompassing household appliances, audiovisual equipment, and personal care items.
Geographical Presence
Headquartered in the Netherlands, Philips is a key player in Europe, particularly Germany, France, and the United Kingdom. They have established a strong presence in North America, with offices, manufacturing sites, and research and development centers.
In the Asia-Pacific region, which includes China, India, Japan, and Australia, Philips is actively involved. Additionally, Philips has a notable footprint in Latin America, the Middle East, and Africa, serving various healthcare and consumer requirements.
Recent Developments
- In November 2023, Philips unveiled three new MR Smart Fit coils during #RSNA23. These latest ultra-lightweight coils provide exceptional flexibility and substantially cut down on patient setup time during an MRI Scan.
- In November 2023, Philips introduced HealthSuite Imaging at #RSNA23, a cloud-based PACS (Picture Archiving and Communication System) with advanced AI-powered clinical and operational processes.
GE-Healthcare
Company Overview
| Establishment Year | 1994 |
| Headquarter | Chicago, Illinois, US |
| Key Management | Peter Arduini (CEO) |
| Revenue (US$ Bn) | US$18.3 billion (2022) |
| Headcount | 50,000 (2022) |
| Website | http://gehealthcare.com/ |
About General Electric
General Electric (GE) Healthcare, a subsidiary of the multinational conglomerate General Electric, is dedicated to providing innovative medical technologies and solutions like medical imaging, diagnostics, life sciences, and information technologies. GE Healthcare manufactures various medical devices, including MRI machines, CT scanners, ultrasound systems, X-ray machines.
Beyond hardware, the company offers software solutions for healthcare management, data analytics, and imaging interpretation to enhance clinical workflows and diagnostic accuracy. The Life Sciences segment focuses on products and services for biopharmaceutical manufacturing, genomics, and cell therapy.
Operating independently within the larger GE corporation, GE Healthcare has a significant global presence vital in advancing medical science and patient care.
Geographical Presence
GE Healthcare, a General Electric (GE) division, operates globally across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The company has established offices, manufacturing plants, and research and development facilities in the United States.
In European countries like the United Kingdom, Germany, and France, leveraging the advanced healthcare infrastructure in the region. The Asia-Pacific region includes nations such as China and India. Latin American markets are also a focus. Additionally, GE Healthcare maintains a noticeable presence in the Middle East and Africa.
Recent Developments
- In November 2023, GE Healthcare announced the industry-first US FDA 510K clearance of Critical Care Suite 2.1, featuring a Pneumothorax (PTX) algorithm for the detection, notification, triage, and diagnosis of PTX.
- In November 2023, the release of a new, all-in-one platform of artificial intelligence (AI) apps to support clinicians with breast cancer detection and improved workflow productivity called MyBreastAI Suite was announced.
Siemens
Company Overview
| Establishment Year | 2017 |
| Headquarter | Erlangen, Germany |
| Key Management | Bernd Montag (CEO) |
| Revenue (US$ Bn) | $ 78.03 billion (2022) |
| Headcount | 69,500 (2022) |
| Website | http://www.siemens.com/ |
About Siemens Healthineers
Siemens Healthineers is a leading global player in medical technology, dedicated to improving healthcare through a wide range of products and services. The company operates in three main segments: Imaging, Diagnostics, and Advanced Therapies.
In Imaging, Siemens Healthineers specializes in creating medical imaging systems like X-ray, CT, MRI, and ultrasound, which are crucial for accurate diagnostics. The Diagnostics segment provides innovative solutions, including in-vitro diagnostic products, to support disease diagnosis and treatment monitoring.
The Advanced Therapies segment focuses on developing minimally invasive and image-guided treatment solutions to enhance medical procedures’ precision and efficiency. Siemens Healthineers prioritizes innovation, investing in research and development, and collaborating with healthcare providers worldwide.
Geographical Presence
Siemens Healthineers has a presence in numerous countries around the world. Some key countries where Siemens Healthineers operates include the United States, Germany, China, India, Malta, Japan, Brazil, the United Kingdom, and France.
Recent Developments
- In November 2023, Siemens Healthineers launched the Acuson Maple1, an advanced and cost-effective ultrasound system designed to enable rapid and accurate diagnosis across diverse clinical settings, highlighting the company’s commitment to innovation and accessibility in medical technology.
- In July 2023, Siemens Healthinerrs received approval from the FDA to launch the Atellica CI Analyzer for immunoassay and clinical chemistry testing.
Athenahealth
Company Overview
| Establishment Year | 1997 |
| Headquarter | Boston, Massachusetts, US. |
| Key Management | Bob Segert (Chairman & CEO) |
| Revenue (US$ Bn) | US$18.3 billion (2022) |
| Headcount | 6,000+ (February 2019) |
| Website | https://www.athenahealth.com/ |
About Athenahealth
Athenahealth is a healthcare technology company that provides cloud-based services to healthcare providers. The company’s offerings include electronic health records (EHR), medical billing, revenue cycle management, and practice management solutions.
Athenahealth aims to streamline and optimize various aspects of healthcare administration, allowing medical professionals to enhance efficiency, reduce paperwork, and improve overall patient care. Athenahealth’s cloud-based services enable accessibility and collaboration among healthcare teams, contributing to a more integrated and effective healthcare ecosystem.
Geographical Presence
Athenahealth has operational sites in several US cities, including Belfast, Atlanta, Austin, and Burlington. Furthermore, the company has expanded its operations internationally with sites in Chennai, Bangalore, and Pune in India.
Recent Developments
- In April 2023, Athenahealth introduced the Athenahealth Patient Digital Engagement Index, a groundbreaking measurement tool to help these practices understand how their patients utilize digital tools during healthcare provision. This represents a notable step forward in comprehending patient engagement in the digital sphere.
- In April 2023, Athenahealth, Inc. and Smile Foundation expanded their partnership by launching a second mobile medical unit in Bengaluru, India, under the Smile on Wheels initiative to offer free healthcare services to underprivileged communities in Karnataka state.
Allscripts-Healthcare-Solutions
Company Overview
| Establishment Year | 1982 |
| Headquarter | Chicago, Illinois, US |
| Key Management | Rick Poulton (CEO) |
| Revenue (US$ Bn) | $645 million (2022) |
| Headcount | 50,000 (2022) |
| Website | https://www.allscripts.com/ |
About Veradigm
Veradigm is a company in the healthcare sector that offers data and technology solutions, focusing on providing innovative and integrated services to healthcare providers, payers, and life sciences organizations.
Veradigm provides a comprehensive range of services, including electronic health records (EHR), population health management, real-world evidence generation, and data analytics.
Geographical Presence
Veradigm has a notable presence with offices in various locations in the United States, including Chicago and Lisle in Illinois, Litchfield in Illinois, and Raleigh in North Carolina. Additionally, the company has offices in Baroda and Pune, India.
This geographical distribution reflects Allscripts’ commitment to providing healthcare technology solutions across different regions.
Recent Developments
- In November 2023, Veradigm launched Veradigm Intelligent Payments to Simplify the Patient Payment Journey.
- In February 2023, Veradigm and HealthVerity teamed up to enhance real-world evidence and patient care for individuals with cardiovascular disease and diabetes.
Microsoft-Corporation
Company Overview
| Establishment Year | 1975 |
| Headquarter | Redmond, Washington, U.S. |
| Key Management | Satya Nadella (Chairman & CEO) |
| Revenue (US$ Bn) | US$211.9 billion (2023) |
| Headcount | 238,000 (2023) |
| Website | https://www.microsoft.com/ |
About Microsoft
Microsoft Cloud for Health offers a secure and compliant space for healthcare entities to manage and analyze data, fostering informed decision-making, enhanced patient outcomes, and operational efficiency.
The platform facilitates comprehensive healthcare solutions with features like Azure Healthcare APIs for seamless data integration, FHIR support ensuring interoperability, and the Health Bot Service for intelligent patient engagement.
Azure IoT for Health also enables data collection from medical devices and sensors, contributing to insights for better patient care. The platform uses advanced analytics and AI to provide predictive analytics and decision support. Collaboration tools such as Microsoft Teams and support for telehealth initiatives further solidify its role in modernizing healthcare delivery.
Geographical Presence
Microsoft Cloud for Health operates in countries like Australia and Belgium, offering services in multiple languages. Brazil provides support in Portuguese, and Canada caters to English and French users. Denmark, Finland, France, Germany, Ireland, and Italy follow country-specific support for smart hospitals.
The Netherlands provides services in Dutch, New Zealand in English, and the Philippines for local users. Singapore and the United Kingdom deliver their offerings in widely-used languages. Sweden offers support in its native language, and Switzerland caters to several languages. Finally, the United States ensures accessibility to Microsoft Cloud for Health in English.
Recent Developments
- In October 2023, Alphabet and Microsoft announced new artificial intelligence initiatives to support healthcare organizations, focusing on improving data utilization and information accessibility.
- In September 2023, it was announced that Microsoft is ready to build the largest image-based AI model for easier cancer detection.
Samsung-Healthcare
Company Overview
| Establishment Year | 1938 |
| Headquarter | Yeongtong-gu, Suwon, South Korea |
| Key Management | Lee Jae-yong (Chairman) |
| Revenue (US$ Bn) | US$232.56 billion (2022) |
| Headcount | 267,937 (2020) |
| Website | https://samsunghealthcare.com/en |
About Samsung’s healthcare
Samsung’s healthcare initiatives include developing and integrating innovative technologies to improve patient care, healthcare management, and medical diagnostics. This encompasses creating advanced medical devices, such as diagnostic imaging and wearable health devices, that contribute to more accurate diagnoses and personalized healthcare.
Samsung also engages in the development of health-related software and applications, fostering digital health ecosystems. The company’s healthcare solutions aim to enhance efficiency in healthcare delivery, improve patient outcomes, and contribute to the overall advancement of the healthcare sector through the application of cutting-edge technology.
Geographical Presence
Samsung Healthcare operates globally, reaching numerous countries across different regions. The company has a notable presence in key markets such as the United States, South Korea, Germany, the United Kingdom, China, Japan, Australia, Canada, France, and India.
Its products and solutions are widely used in healthcare facilities, reflecting Samsung Healthcare’s commitment to serving diverse international communities with smart hospitals.
Recent Developments
- In February 2023, Samsung Healthcare launched the Hera W10 Elite, a top-tier offering in the Hera platform for Obstetrics and Gynecology. It provides clinicians with advanced AI features and clinical applications, improving the diagnostic process.
- In November 2022, NeuroLogica Corp., a Samsung Electronics Co. Ltd. subsidiary, received FDA approval for its BodyTom 64 Point-of-Care Mobile CT Scanner for commercial use.
Honeywell-International
Company Overview
| Establishment Year | 1906 |
| Headquarter | Charlotte, North Carolina, U.S |
| Key Management | Darius Adamczyk (Chairman) |
| Revenue (US$ Bn) | US$35.47 billion (2022) |
| Headcount | 100,000 (2023) |
| Website | https://www.honeywell.com/us/en |
About Honeywell
Honeywell offers a range of products and services to improve patient care, operational efficiency, and overall healthcare management. This includes solutions for medical-grade mobile computers, healthcare scanners, connected medical devices, and advanced data analytics.
By leveraging its expertise in technology and automation, Honeywell contributes to the modernization and optimization of healthcare processes, supporting healthcare professionals in delivering better patient outcomes with the help of smart hospitals.
Geographical Presence
Honeywell has a broad operational presence encompassing numerous countries worldwide. Some key regions where the company is notably active include the United States, Canada, the United Kingdom, Germany, France, Italy, China, Japan, India, and Australia.
These countries exemplify Honeywell’s expansive international reach. The company’s diverse portfolio spans different industries, including aerospace, manufacturing, and healthcare, reflecting its commitment to meeting the needs of a global and varied market.
Recent Developments
- In April 2023, Honeywell created a live health monitoring system that captures and records patients’ vital signs in the smart hospital or at a distance.
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