Smart Pills Expand Horizon of Smart Healthcare Products; Market to Clock CAGR of 8.8% From 2019 to 2027, Finds Transparency Market Research

ALBANY, New York, May 28, 2020 /PRNewswire/ --The smart healthcare products market has evolved on the back of the proposition of making medical and patient care more efficient, affordable, and accessible. Rapid pace of digitization in the healthcare industry on account of integration of an array of technologies such as sensors, IoT framework, smart data analytics with healthcare products contributes to broadening avenues in the market. Smart healthcare gadgets play crucial role in accessing patient data remotely and help in monitoring of chronic conditions.

The latest valuation of the smart healthcare products market was estimated to be US$ 37.5 Bn in 2018. Expanding at CAGR of 8.8% from 2019 to 2027, the global smart healthcare products market is anticipated to reach worth of US$ 80.3 bn by this period-end.

Increasing share of healthcare spending in the GDP of several countries will focus on adoption of smart healthcare products for patient care, note the analysts at Transparency Market Research. They further concede that addressing cost and privacy concerns should be crucial in making healthcare IT successful for disease diagnosis and treatment.

Download A PDF Brochure of Report -

Key Findings of Smart Healthcare Products Market

    --  Of the various product types in smart healthcare products market, smart
        pills segment is expected to grow at higher rate than all others during
        2019 - 2027
    --  Rising demand for minimally invasive surgeries spurs uptake of smart
        pills in healthcare industry
    --  Of the various regions in smart healthcare products market, North
        America held the majority of share in 2018
    --  The North America market was trailed by Europe
    --  Asia Pacific market to rise at promising CAGR during 2019 - 2027
    --  Rapidly aging populations to boost patients' acceptance of smart
        healthcare products

Explore 90 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Smart Healthcare Products Market (By Product Type - Smart Syringes, Smart Pills, Smart RFID Cabinets and Electronic Health Record; By Application - Health Data Storage and Exchange, Monitoring and Treatment, and Inventory Management - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027 at

Smart Healthcare Products Market: Key Driving Factors and Promising Avenues

A favorable macroeconomic framework in numerous countries is key to the rapid expansion of global smart healthcare products market. Few of the trends are worth noticing.

    --  Over the past few years, developing economies have seen an incessant
        focus of policy makers to increase the share of healthcare services
        spending in the nation's GDP. This is also laying groundwork for
        healthcare IT frameworks to flourish, thereby helping propel positive
        growth of smart healthcare products market
    --  Financial specialists and global technology players see incredible
        potential in smart medical care, and are bolstering investments in
        development of IoT systems for healthcare.
    --  In recent years, developing countries of the world have seen a rapid
        penetration of electronic medical records

Inquire for a Sample Copy of Report -

Key Challenges for Players in Smart Healthcare Products Market

The smart healthcare products market has made some incredible strides in developing and developed world, unarguably. But a few concerns offset the gains of their uptake in the healthcare industry as following:

    --  Both the high cost of smart healthcare products and the lack of clinical
        expertise in cost-sensitive markets are demand dampeners
    --  In developed countries, doctors with private clinics see meagre gains in
        investing in smart healthcare products. This is because healthcare
        providers, especially hospitals, who are not part of integrated
        healthcare IT, the gains will accrue at negligible rate. This is a
        crucial restraint on the expanding revenue scope. Such findings were
        part of a notable Congressional Budget Office, U.S.
    --  Privacy concerns as to breach of patient's information have made
        patients and providers skeptical of purported benefits of smart
        healthcare products.

Nevertheless, the factors highlighting the silver lining are more than one:

    --  Technology providers are leaning on unveiling smart healthcare products
        that fare well in relation to data privacy.
    --  Prominent regional regulatory agencies are gradually proving to be
        generous in approving smart healthcare products
    --  Research in development and commercialization of smart pills and other
        novel smart healthcare devices are growing at fast pace, generally in
        the developed world

Purchase the Smart Healthcare Products Market Report -

The global smart healthcare products market has been segmented as follows:

    --  Global Smart Healthcare Products Market, by Product Type
        --  Smart Syringe
        --  Smart Pills
        --  RFID Smart Cabinets
        --  Electronic Health Record
    --  Global Smart Healthcare Products Market, by Application
        --  Health Data Storage and Exchange
        --  Monitoring and Treatment
        --  Inventory Management
    --  Global Smart Healthcare Products Market, by Region
        --  North America
        --  Europe
        --  Rest of Europe
        --  Asia Pacific
        --  Latin America
        --  Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:

Swab and Viral Transport Medium Market - The global swab and viral transport medium market is primarily driven by increase in demand for swabs & viral transport medium owing to COVID-19 pandemic, rise in use of viral transport medium in microbiology & diagnostic laboratories, and high investment in diagnostic equipment, kits, and accessories. Increase in the geriatric population, rise in adoption of diagnostic tests, and growth of the diagnostics industry are the other factors projected to drive the global market during the forecast period.

Cell and Gene Therapy Market - Technological advancements in cell and gene therapy is one of the key factors projected to fuel the global cell and gene therapy market during the forecast period. Emerging technologies in cell and gene therapies, such as proprietary cell lines, gene vectors, cell expansion and separation systems, and single-use bioprocessing reactors, have become primary means by which single products have been transformed into a robust product portfolio. For example, Immunicum has offered three technological platforms i.e. gene editing, CAR-T cell expansion, and T-cell primers. These technologies allow the company to advance its series of immuno-oncology drug candidates. Immunicum has two technologies i.e. IMM-2 platform and IMM-3 platform undergoing preclinical studies for use in the treatment of different types of cancer. Immunicum is looking forward to developing an allogeneic dendritic cell in-vivo vaccine for use in the treatment of solid tumors.

Antivirals Market - Some of the primary trends in the global market for antivirals are the development of new mechanisms and research on second-generation molecules, combination therapies, and topical administration routes. Investors proactively pursue research and development of drug candidates for viral diseases that require long-term treatment. They also prefer initiatives that have a predominant patient-base in developed regions of the world and are readily accepted by physicians and drug formularies. Antivirals ideally fit the profile and hence are gaining strong investments. Moreover, the need to improve the quality of life of the patients on the available antiviral regimens is encouraging efforts for the development of second-generation molecules, such as IFN- .

Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453

View original content:

SOURCE Transparency Market Research