Healthcare Technology Management Market to See Competition Rise | General Electric, ABM Industries, Siemens Healthineers
Published Via 11Press : According to HTF MI, “Global Healthcare Technology Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global Healthcare Technology Management Market is anticipated to grow at a compound annual growth rate (CAGR) of 15.5% from 2023 to 2028, reaching USD 6.3 Billion in 2023 and USD 12.9 Billion by 2028.
Healthcare Technology Management (HTM) is the field in charge of choosing, maintaining, and ensuring the secure use of all clinical and fitness technology used in healthcare. The engineers and technicians that work in hospitals as HTM specialists support the maintenance, repair, and procurement of medical technology. They are fully integrated members of the healthcare transportation team and have a significant influence on how the hospital manages every aspect of fitness technology.
HTM experts don’t typically manufacture or improve medical equipment anymore. The healthcare technology management market includes revenue from businesses (organizations, sole proprietors, and partnerships) that provide healthcare technology management services used to improve patient care and monitoring in remote locations.
In order to provide top-notch patient care in hospitals and clinics at a reasonable price, healthcare technology management refers to the planned method of preparing and managing healthcare scientific applications and software. This technological expertise contributes to the aesthetics of surgical outcomes and the security of patent data.
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Key and developing players who have been highlighted as part of the coverage
- General Electric (GE) Co. (United States),
- ABM Industries, Inc. (United States),
- Siemens Healthineers AG (Germany),
- Koninklijke Philips N.V. (Netherlands),
- Sodexo S.A. (France),
- Crothall Healthcare, Inc. (United States),
- TriMedx, LLC (United States),
- Agility, Inc. (Kuwait),
- Renovo Solutions (United States),
- JANNX Medical Systems, Inc. (United States).
Market Drivers
- Growing Importance of Medical Devices for Prevention Upkeep and Adaptability: The focus on routine security of hospital equipment has changed as healthcare organizations work to improve patient protection and care quality.
- This requires a carefully thought-out application in which remodeling tasks are frequently carried out to avoid major and subsequently more expensive repairs.
- Telemedicine and patient portals allow for a variety of ways for people to communicate with fitness professionals. Wearable technology, such as cardiac monitors, gives clinicians more flexibility to monitor their patient’s health and gives them more options for documenting and assessing symptoms as they go about their daily lives.
Market Trend
- IoT and Wearables in Healthcare: As wearables and IoT technologies gain popularity, their potential in the healthcare industry has considerably increased.
- Many now refer to this trend in microprocessing as the Internet of Medical Things for use in telemedicine and telehealth applied sciences. IoT can’t be ignored because the healthcare industry is becoming more and more connected thanks to these technologies.
- The advancement of wearable technology is one of the most important changes in the healthcare industry.
- The ability for a character to monitor their own popularity or the ability to remotely broadcast the reputation of an impacted person at some time during the day is quite significant.
- Consumer smartwatches are becoming more widely available, and it is important to consider whether they could be used for healthcare. Additionally, the ability of smartwatches to assess a user’s blood pressure is improving. The optical technology known as photoplethysmography (PPG) may assess changes in blood volume and composition.
- Getting all of these computers to communicate with one another can be difficult given the business trend towards the employment of multiple microcontrollers simultaneously.
- The fact that almost every manufacturer uses their own proprietary protocol to enable communication between their products is another obstacle that needs to be removed. Integration may be challenging as a result.
- Additionally, connectivity may be a problem because numerous environmental factors can interfere with communications. Buffering techniques on local microcontrollers must become more robust in order to overcome this. Security is frequently a concern.
Market Opportunities
- New AI Applications and Medical Community Concerns: One of the fitness facts industry’s most rapidly evolving developments: Recent years have seen a rapid advancement in artificial intelligence (AI) technologies.
- Molecular modeling and simulation of chemical processes in multi-factor environments are only two of the innovative projects that combine AI and computer learning approaches to advance chemical experiments and clinical medicine research. With this in mind, regular practices will be increased rather than changed thanks to AI-driven and robotic structures, creating a seamless fusion of the present and the future. One of the top digital fitness trends in the market is the marriage of bold projects and their robust legal framework.
- It will enable physicians to fully utilize contemporary technology, assess how to apply them in profitable and secure ways, and avoid real hazards. These guidelines will aid architects and AI engineers in the process of creating safe scientific tools, programs, and structures supported by artificial intelligence (AI) and machine learning (ML) technologies or elements.
- This shows that governments take the potential dangers and opportunities associated with AI extremely seriously and choose to change the methods of AI application in healthcare as soon as possible.
- Hackers may use AI’s growing ability to imitate photorealistic 3D faces or voices that sound natural to simulate personal identities in the course of next-generation, highly personalized social engineering and phishing campaigns that may prove to be more dangerous and deceptive than ever before in history.
Market Restraints
- Data Privacy and Security Concerns Are Rapidly Increasing: A major concern with cloud solutions is that the data managed by special providers is no longer as secure as data stored on-premises. Patient information is regarded as sensitive, and a higher standard of privacy must be upheld to ensure that only authorized people have access to it. Along with the US’s Health Insurance Portability and Accountability Act (HIPAA), patient facts have come under the scrutiny of regulatory regimes in a number of countries. The EU also has a number of statistics safety directives.
- In many nations, protected health information (PHI) about patients cannot be transferred outside of the country in which it was created. The Personal Information Protection and Electronic Documents Act covers personal data collected, utilized, or disclosed in Canada.
Market Challenges
- No remote access is allowed since healthcare requires in-person consultations. The inconvenience forces the patients to rush to the closest healthcare facility for treatment.
- The flexibility and performance capabilities of these remote-oriented platforms are still being improved by mobile app developers. This makes it possible for medical personnel to deliver reliable care and guidance to patients who are located far away.
- Telemedicine aims to elevate the level of healthcare via mobile healthcare technologies, including wearables, smartphones, and music therapy. The technology used in healthcare has sped up the development of products that use science, such as holography, artificial intelligence, machine learning, augmented reality, and virtual reality.
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Market Breakdown by Applications:
- Hospitals,
- Ambulatory Care Centers,
- Diagnostic & Imaging Centers,
- Pharmacies,
- Others
Healthcare Technology Management Market Regional Analysis
- The Healthcare Technology Management market is expected to be dominated by North America. In this region, the United States would contribute the most.
- From 2023 to 2029, Europe is expected to be a market leader in healthcare technology management. UK, Germany, and France will have the largest market shares.
- A breakdown by Southeast Asian (ASEAN) nations is also provided in the Healthcare Technology Management market analysis. It is projected that the Healthcare Technology Management Industry would have the fastest growth in this region..
- China, Japan, India, and Australia are the other major Asian economies that are taken into account in the study.
- Investors are paying attention to the market in Central and South America. In the healthcare technology management market, Brazil, Mexico, and Argentina are considered “Red Hot” markets.
Report Scope
| The Market size value in 2023 | USD 6.3 Billion |
| Revenue Forecast by 2033 | USD 12.9 Billion |
| Growth Rate | CAGR Of 15.5% |
| Regions Covered | North America, Europe, the Middle East and Africa, Latin America, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
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Key highlights of the report:
- Healthcare Technology Management Market Performance (2018-2022)
- Healthcare Technology Management Market Outlook (2023-2028)
- Healthcare Technology Management Market Trends
- Healthcare Technology Management Market Drivers and Success Factors
- Value Chain Analysis
- Detailed competitive landscape
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