Smart Hospital Market Share

North America Market Forecast

North America smart hospital market revenue is estimated to exceed USD 224.5 billion by the end of 2037. The region is experiencing growth due to advancements in healthcare technology, a focus on patient-centered care, and an increasing demand for efficient healthcare delivery. The region has seen rapid advancements in AI, MI, IoT, and robotics, all of which are integral to smart hospitals. These technologies improve diagnostics, patient monitoring, and overall hospital management.

Hospitals in the U.S. implementing AI techniques are significantly driving the growth of the smart hospital market by enhancing efficiency, accuracy, and quality of patient care. Several AI applications are transforming hospitals and pushing the adoption of smart hospital technologies. Hospitals such as Cleveland Clinic, Johns Hopkins Medicine, and Mayo Clinic are leveraging AI-driven predictive analytics to forecast patient outcomes, predict potential health risks, and manage hospital resources more effectively. More than 200 AI initiatives at Mayo Clinic are at various degrees of maturity along the discovery-translation-application research continuum, ranging from feasibility and data availability testing to algorithm and model development, clinical implementation, and application.

The Government of Canada has been actively supporting the digitization of healthcare through programs such as Canada Health Infoway and provincial e-health initiatives. These programs encourage the adoption of electronic health records, telemedicine, and other digital health tools that are critical for the development of smart hospitals. According to a 2024 National Survey of Canadian Physicians, by Canada Health Infoway and the Canadian Medical Association (CMA), stated that almost all (95%) physicians surveyed use electronic records to enter and retrieve clinical patient notes, a considerable rise from 87% in 2021, 82% in 2017, and 39% in 2010. Four out of five physicians said they use one or more computerized systems to record patient information. About 7% said they use artificial intelligence or machine learning in their primary practice to support patients. This represents a significant increase over the 2% reported in 2021. 

APAC Market Analysis

The smart hospital market in Asia Pacific is poised to register the fastest growth during the forecast period. The region is experiencing rapid growth due to the increasing demand for advanced healthcare solutions, a growing population, and rising healthcare expenditures. Technological advancements, government initiatives, and the adoption of digital health platforms are key factors driving the development of smart hospitals across countries like China, India, Japan, South Korea, and Australia.

The healthcare expenditure in China has been increasing steadily as the country seeks to modernize its healthcare infrastructure. The government and private sector are investing heavily in smart hospital technologies to improve healthcare outcomes, reduce costs, and address inefficiencies in the system. In 2022, China's overall healthcare expenditure exceeded USD 1.1 trillion. This amount covered government, collective, and private out-of-pocket spending on health care.

In India, the rapidly growing population, combined with increasing urbanization, has created a higher demand for healthcare services. The rise in chronic diseases, such as diabetes, cardiovascular diseases, and respiratory issues, is driving the need for efficient hospital management and advanced medical care. Moreover, the COVID-19 pandemic accelerated the adoption of telemedicine in India, with hospitals and healthcare providers deploying virtual care platforms to reach patients in remote and rural areas. Smart hospitals are incorporating telemedicine and remote monitoring technologies to improve accessibility, particularly in underserved areas.