Hospitals & Outpatient Care Centers Market Implements IoT Technologies To Make Accurate Decisions On Patients’ Health

The Business Research Company’s Hospitals And Outpatient Care Centers Global Market Report 2021: COVID-19 Impact and Recovery to 2030

LONDON, GREATER LONDON, UK, January 12, 2021 /EINPresswire.com/ -- New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

Mobile and IoT technologies are hospitals and outpatient care centers industry trends being implemented by hospitals to provide information to various stakeholders in the hospital ecosystem. This technology offers real time visibility of patient health through active and passive data collection. This technology can monitor medical conditions and prevent life threatening diseases. Data generated through IoT devices is becoming critical for patient care managers, patients to diagnose, track and treat medical conditions. Major hospitals adopting IoT technology in the USA include HCA, Mercy Virtual Care Center and Kaiser Permanente. Thus, this technology enables healthcare providers to make accurate and informed decisions on patients’ health.

The global hospitals and outpatient care centers market size is expected to grow from $3.38 trillion in 2020 to $3.78 trillion in 2021 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.95 trillion in 2025 at a CAGR of 7%.

The pandemic had a detrimental effect on hospitals and outpatient care centers except the emergency hospitals and outpatient care centers market due to disruptions in the supply chain and decrease in the footfall as patients remained cautious about visiting hospitals. The postponement of surgeries that are not urgent has resulted in a decline in revenues of the hospitals and outpatient care centers. However, it is expected that the hospitals and clinics market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.

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