- Smart Medical Services powered by IoT and Sensors Key to Vast Avenues in Emerging Markets, particularly Asia Pacific; Governments Become Payers, Providers, and Policy Makers, thereby accelerating Growth of Smart Healthcare Products Market

- Application in Patient Treatments and Diagnostics Key to Growth; Digitization in Healthcare Industry Forms Key Underpinning to Market Expansion

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.

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Key Findings of Smart Healthcare Products Market

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 https://www.transparencymarketresearch.com/report-toc/9437

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.

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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:

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

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

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-.

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