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The Germany smart healthcare market size is expected to reach USD 33.09 billion by 2028, exhibiting a CAGR of 21.9% during the forecast period. The robust government support in Germany along with technological advancement are factors expected to boost the growth of the market, states Fortune Business Insights, in a report, titled “Germany Smart Healthcare Market Size, Share & COVID-19 Impact Analysis, By Product (Electronic Health Record, Smart Medication Delivery, Telemedicine, RFID Systems, mHealth, and Others), By Application (Health Data Storage, Monitoring and Treatment, Inventory Management, and Others), and by End User (Hospitals & ASCs, Homecare Settings, and Others) and Forecast, 2021-2028.” The market size stood at USD 6.87 billion in 2019
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The report on the Germany smart healthcare market incorporates:
- Excellent insights into the market
- Meticulous scrutiny of the segments
- Recent developments
- Important data of key players
- New government policies
- COVID-19 impact
Growing Adoption of Telemedicine and mHealth to Boost Market
The increasing acceptance of various technologies such as mHealth and telemedicine by the German population will have a tremendous impact on the global market. The ongoing alternations in legislation are expected to boost the expansion of digital health platforms. Moreover, favorable reimbursement policies for digital health solutions will simultaneously create opportunities for the market. The increasing awareness about various advantages of new technologies in healthcare such as greater accessibility, efficient treatment, disorder management, and cost-effectiveness will have an excellent effect on the market during the forecast period. Also, the emerging number of companies in healthcare will favor the healthy growth of the market.
Significant Demand for Smart Healthcare to Propel Market During Coronavirus
The coronavirus pandemic has had an outstanding impact on the healthcare IT markets such as smart healthcare, medical devices, and pharmaceuticals. The stringent government norms regarding healthcare procedures have steered concentration on telemedicine and mHealth. The increasing digitalization and need for virtual healthcare assistance have accelerated the demand for smart healthcare amid covid-19. Moreover, favorable government policies and initiatives regarding the adoption of smart healthcare will further bolster the growth of the market during the pandemic.
Expansion Plans of Prominent Companies to Strengthen Business
The ongoing strategies of Cerner, and Resideo Technologies Inc to expand its presence in Germany will incite lucrative business. For instance, the German Government’s mandate of an EHR for all the individuals under the statutory health insurance (SHI). In September 2019, there were an estimated 1,379 health technology start-ups in Germany. This includes InterComponentWare (ICW), eGym, Ada, Clue, and Freeletics. The emerging companies in healthcare, telemedicine, and mHealth will bolster the healthy growth of the market. Similarly, the emerging players are focused on strategic collaborations with established players to strengthen their footprint in the German market.
February 2019: Abbott announced that it has signed a collaboration with Novo Nordisk, by connecting Abbott’s FreeStyle Libre system with Novo Nordisk’s insulin pens for efficient and improved diabetes management.
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The Report Lists the Main Companies in this Market:
- GE Healthcare (General Electric Company) (Chicago, U.S.)
- Siemens Healthineers AG (Siemens Healthcare GmbH) (Munich, Germany)
- Abbott (Lake Bluff, U.S.)
- Olympus Corporation (Tokyo, Japan)
- Resideo Technologies Inc. (Austin, U.S.)
- Cisco (San Jose, U.S.)
- IBM (Armonk, U.S.)
- Cerner Corporation (Kansas City, U.S.)
- Allscripts Healthcare Solutions, Inc. (Chicago, U.S.)
Table Of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
2. Executive Summary 3. Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
4. Key Insights
- Prevalence of Chronic Diseases in Germany
- Regulatory and Reimbursement Scenario
- Key Industry Developments – Partnerships, Mergers & Acquisitions
- Technological Advancements in Smart Healthcare
- New Product Launch (by Major Players)
5. Germany Smart Healthcare Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Electronic Health Record
- Smart Medication Delivery
- RFID Systems
- Market Analysis, Insights and Forecast – By Application
- Health Data Storage
- Monitoring and Treatment
- Inventory Management
- Market Analysis, Insights and Forecast – By End User
- Homecare Settings
6. Competitive Analysis
- Germany Market Share Analysis (2019)
- Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- GE Healthcare
- Siemens Healthcare GmbH
- Olympus Corporation
- Resideo Technologies Inc.
- Cerner Corporation
- Allscripts Healthcare Solutions, Inc.
7. COVID-19 Impact on Smart Healthcare Market
Continued. . .
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NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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