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Smart Hospital Wearables Market Size Worth USD 58.08 Billion by 2030 at 14.3% CAGR Report by Market Research Future (MRFR)

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New York, USA, April 27, 2023 (GLOBE NEWSWIRE) — Smart Hospital Wearables Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Smart Hospital Wearables Market Research Report Information By Type, By Technology, By Distribution Channel, By Region – Forecast till 2030”, the market size was valued at USD 17.44 billion in 2021 and is projected to grow from USD 19.94 billion in 2022 to USD 58.08 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.3% during the forecast period (2022 – 2030).

Market Scope

The increased adoption of smart hospital wearable devices, the growing need to improve clinical processes and workflow efficiency, and the increasing prevalence of chronic diseases are driving market growth. The Internet of Things (IoT) is a growing technology that is rapidly changing how healthcare is delivered. Patient safety and efficiency are rising as a result of connected medical equipment. A hospital becomes a “Smart Hospital” when such technologies are applied to the whole ecosystem of the healthcare company.

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Report Scope:

Report Attribute Details
Market Size in 2030 USD 58.08 Billion
CAGR 14.3%
Base Year 2021
Forecast Period 2022-2030
Historical Data 2020
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type, Devices, Therapeutic Devices, Technology, Distribution Channel
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Increased adoption of smart hospital wearable devices and rising prevalence of chronic diseases
Growing need to improve clinical processes and workflow efficiency

Smart Hospital Wearables Market Competitive Outlook

Leading market players are implementing a variety of business tactics to strengthen their position in the industry. In order to increase their product range and further fuel the market for smart hospital wearables, they are making large investments in R&D. Also, market participants are implementing a number of strategic efforts, including the introduction of new products, contractual agreements, mergers and acquisitions, raising investments, and collaborating with other participants to increase their worldwide presence.

Key Companies in the Smart Hospital Wearables market includes,

  • Boston Scientific Corporation (US)
  • Honeywell International Inc. (US)
  • Omron Corporation (Japan)
  • Medtronic (Ireland)
  • Koninklijke Philips N.V. (Netherlands)
  • Sotera, Inc. (US)
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
  • BioIntelliSense, Inc. (US)
  • VitalConnect (US)
  • MedioTek Health Systems (India) among others

Smart Hospital Wearables Market Trends:

Drivers

The increasing incidences of multimorbidity and the rising number of surgeries are positively contributing to market growth. The market is expanding as a result of the rising acceptance of smart hospital wearable technology, the growing demand to enhance clinical workflow effectiveness, and the rising incidence of chronic illnesses. Smart hospital wearables are wearable computers that can track and monitor a variety of vital indicators, including blood pressure, heart rate, and oxygen levels. These tools support the monitoring of a number of illnesses, including lung diseases, diabetes, and sleep problems.

Hospital wearable devices combining artificial intelligence (AI), machine learning, and digitalization enable real-time access to patient health data, better patient outcomes, enhanced efficiency, and increased capacity for medical personnel. The market for smart hospital wearables is being driven by factors including rising acceptance of wearable medical technology, a growing demand to enhance clinical workflow effectiveness, and rising chronic illness prevalence. In addition, the market’s participants benefit from the rising acceptance of new technologies and greater internet usage.

Hospitals all over the world have been hesitant to implement these technology and procedures because of the significant investments required. Hospitals nowadays are being compelled to use technology due to the falling cost of it and the rapidly emerging use cases that demonstrate the value of digital connection solutions. Through digitizing workforce management, asset monitoring, and scheduling for greater operational efficiency, these technology advancements will also help hospitals.

There is a rising need for remote patient monitoring solutions as a result of the aging population and long-term chronic illness conditions in many countries. This has a big effect on how fast the market is growing. Hospital executives are under continual pressure to cut expenses while maintaining a high level of patient care. Wireless technologies are being used by hospitals to run more smoothly, boost patient care, and enhance patient experiences.

Limitations

Nevertheless, the expansion of the market for smart hospital wearables may be hampered by increased data security concerns and expensive gadget prices. The hospital staff’s most difficult responsibility is to shorten the wait times for all patients. Using other software would assist streamline processes, enhance patient care, and lessen staff burnout. Vendors are concentrating on creating software and solutions to increase hospitals’ efficiency as a result.

Browse In-depth Market Research Report (128 Pages) on Smart Hospital Wearables: https://www.marketresearchfuture.com/reports/smart-hospital-wearables-market-11411

COVID-19 Analysis

The COVID-19 pandemic has overloaded hospitals to the point of failure. Nonetheless, the crisis response also promoted creativity. The need to preserve social isolation and make the most effective use of busy employees accelerated the digital transformation.

Smart Hospital Wearables Market Segmentation:

Wearable Device Insight

 In 2021, the market for diagnostic and monitoring equipment held the biggest share. This is brought on by the rising incidence of chronic conditions including neurological and cardiac disorders, the greater use of smart devices by hospitals, and the infrastructure modernization in the healthcare industry.

Technology Insights

Due to the deployment of artificial intelligence technologies in hospitals because it offers a decrease in medical mistakes and administrative stress, this category of technology held the greatest share in 2021.

Distribution Channel Insights

In 2021, the pharmacy industry held the biggest market share. This is due to the rise of hospital and retail pharmacies throughout the world.

Smart Hospital Wearables Market Regional Insights

Technology improvements in hospital wearable devices and the region’s well-established healthcare infrastructure are credited with driving the growth of the smart hospital wearables market in North America. The market for smart hospital wearables in North America holds the largest market share as a result of the region’s established healthcare infrastructure, rising prevalence of chronic diseases like cancer, diabetes, and cardiovascular disorders, as well as technological advancements in hospital wearable devices. As a result, more patients are admitted to hospitals for the treatment of heart problems. There is increasing demand in the area for smart healthcare wearables. According to market statistics, the US market for smart hospital wearables had the biggest market share, while the Canada market for these devices accounted for the second-largest market in North America.

From 2022 to 2030, the market for smart healthcare wearables is anticipated to expand at its fastest rate. This is brought on by the growing elderly population, the rising cost of healthcare, and the expanding use of wearable hospital AI devices. Moreover, the growing market for smart hospital wearables in the area is being driven by middle-class families in Asia, who make up a significant portion of the population and have more discretionary income, which encourages greater spending on health. In addition, the Asia-Pacific region’s smart hospital wearables market in China had the greatest market share while the market in India had the quickest rate of growth.

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Advanced infrastructure is available in European nations including Germany, the UK, Sweden, and the Netherlands for the deployment of cutting-edge health informatics systems and the construction of smart hospitals. These nations employ IoT to connect devices to transfer patient data and lower health risks, and AI to provide intelligent medical services. The swift adoption of Industry 4.0 in the UK is a revolutionary move for the nation and will inevitably result in the creation of smart hospitals thanks to the widespread participation of businesses, customers, and workers. Notwithstanding various regulatory obstacles brought about by the Brexit scenario, Europe has managed to rank among the top producers of smart devices. Moreover, possibilities for the market under study are anticipated to arise from the consistent inflow of investments into the healthcare industry, particularly as a result of beginning projects that were in the pipeline. ​

Discover more research Reports on Healthcare Industry by Market Research Future:
Wearable Medical Device Market Size, Trends By Type (Activity Monitors, Smart Watches, Smart Clothing, Patches), Device Type (Diagnostic & Monitoring Devices, Therapeutic Devices), Application (Sports Academies and Fitness, Remote Patient Monitoring, Home Healthcare), Distribution Channel (Pharmacies, Online Channel, Hypermarkets) – Forecast till 2030

Smart Medical Devices Market Research Report: By Type (On-body (adhesive patch), Off-body (belt clip), Hand-held), By Technology (Spring-based, Motor-driven, Rotary Pump, Expanding Battery, Pressurized Gas, Others), By Application (Oncology, Diabetes, Auto-Immune Disorders, Infectious Diseases, Others) and By End-Use (Hospital, Clinic, Home Care Settings, Others) – Forecast to 2027

Global Smart Biosensors Market: Information by Product Type (Wearable Biosensors, Non-wearable Biosensors), Technology (Electrochemical Biosensors, Others), Application (Drug Discovery, Others), End User (Point-Of-Care & Others)—Global Forecast till 2030

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Oncolytics Biotech® Announces Upcoming Presentations at the American Society of Clinical Oncology Annual Meeting

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SAN DIEGO and CALGARY, AB, April 25, 2024 /PRNewswire/ — Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the acceptance of two abstracts at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, which is taking place from May 31 – June 4, 2024, in Chicago, Illinois. Details on the abstracts and poster presentation are shown below.

Title: Phase 1/2 randomized, open-label, multicenter, Simon two-stage study of pelareorep combined with modified FOLFIRINOX +/- atezolizumab in patients with metastatic pancreatic ductal adenocarcinoma.
Presentation Type: PosterAbstract Number: TPS4203Session Title: Gastrointestinal Cancer – Gastroesophageal, Pancreatic, and HepatobiliarySession Date and Time: June 1, 2024, 1:30 – 4:30 p.m. CTTitle: Pelareorep driven blood TIL expansion in patients with pancreatic, breast and colon cancer.Presentation Type: Online abstractAbstract Number: e14625
Abstracts will be published on the ASCO Annual Meeting website at 5:00 p.m. ET on May 23, 2024.
About Oncolytics Biotech Inc.
Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype — turning “cold” tumors “hot” — through innate and adaptive immune responses to treat a variety of cancers.
Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid and hematological malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For further information, please visit: www.oncolyticsbiotech.com or follow the company on social media on LinkedIn and on X @oncolytics.
 
Company Contact
Jon Patton
Director of IR & Communication
[email protected]
 
Investor Relations for Oncolytics
Timothy McCarthy
LifeSci Advisors
+1-917-679-9282
[email protected]
 
 

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Internet of Things (IoT) Market to Expand at a Stellar 19.4% CAGR through 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — SkyQuest projects that the Internet of Things (IoT) Market will attain a value of USD 1572.37 billion by 2031, with a CAGR of 19.4% over the forecast period (2024-2031). Internet of Things (IoT) refers to the network of connected devices over the internet that are embedded with sensors and software. Growing adoption of automation around the world and advancements in connected device technologies are forecasted to be key factors driving the Internet of Things (IoT) market growth in the future.

Download a detailed overview:
https://www.skyquestt.com/report/internet-of-things-market
Browse in-depth TOC on “Internet of Things (IoT) Market”
Pages – 197Tables – 69Figures – 75Internet of Things (IoT) Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 380.6 billion
Estimated Value by 2031
$1572.37 billion
Growth Rate
Poised to grow at a CAGR of 19.4%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component Type, Application, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Rising demand for connected healthcare and growing use of industrial automation solutions
Key Market Drivers
Advancements in connectivity and connected device technologies
 
 
Hardware is Estimated to Dominate the Global Market Share Owing to High Use of Hardware Components in IoT
Hardware components such as sensors and actuators are highly vital to the proper functioning of any kind of Internet of Things (IoT) device. Growing adoption of IoT devices in different industry verticals for various applications is promoting market growth via this segment. The development of new hardware solutions also helps this segment maintain its dominance.
Smart Agriculture is the Fastest-growing Segment Owing to Rising Adoption of Precision Agriculture Practice
Rising emphasis on improving agricultural yield and sustainability has resulted in the growing adoption of smart agriculture and precision agriculture practices. IoT devices play a crucial role in monitoring and controlling different elements of a smart agriculture setup that is mostly automated using different smart devices thereby contributing to the IoT market growth as well.
Growing Adoption of 5G Technology Allowing North America to Dominate the Global Internet of Things (IoT) Market
Rapid adoption of 5G technology and high use of cloud-based platforms are key factors allowing North America to lead the demand for Internet of Things (IoT) around the world. Surging investments in the research and development of advanced technologies and the presence of key tech giants such as Amazon, Google, IBM, and Microsoft also helps the dominance of this region. Canada and the United States remain the most lucrative markets for Internet of Things (IoT) companies in North America through 2031.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-market
Internet of Things (IoT) Market Insights:
Drivers
Advancements in connectivity and connected device technologies.Growing demand for Industrial IoT (IIoT) solutions.Increasing number of smart cities and development of smart infrastructure.Restraints
Lack of standardization of IoT devices and technologies.Privacy and data security issues.Interoperability challenges and complex integration scenarios.Prominent Players in Internet of Things (IoT) Market
MicrosoftCisco SystemsIntelSiemens (Germany)AWS (US)Oracle (US)Qualcomm (UK)SAP (Germany)IBM (US)Google (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-market
Key Questions Answered in Internet of Things (IoT) Market Report
What are the top drivers for Internet of Things (IoT) market going forward?Who are the leading Internet of Things (IoT) market players?Where will demand for Internet of Things (IoT) be high?Which component accounts for a dominant revenue share of the global Internet of Things (IoT) market?This report provides the following insights:
Analysis of key drivers (advancements in connectivity and connected device technologies, growing demand for industrial IoT (IIoT), development of smart infrastructure for smart cities, growing use of smart devices ), restraints (lack of standardization, complexities in integration, concerns regarding security and privacy of data), and opportunities (rising popularity of connected healthcare, increasing adoption of Industry 4.0, rising use of industrial automation), influencing the growth of Internet of Things (IoT) market.Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Internet of Things (IoT) market.Market Development: Detailed analysis of potential regions where the market has potential to grow.Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.Related Reports:
Global Internet of Things in Retail Market
Global Internet of Things (IoT) in Agriculture Market
Global Internet of Things (IoT) Microcontroller Market
Global IOT In Healthcare Market
Global IOT in Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:
Mr. Jagraj Singh Skyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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Sapiens Unveils Enhanced Reinsurance and Analytics Solution Catering to Evolving Market Demands

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Latest version enhances operational efficiency, regulatory reporting, and strategic decision-making with robust business insights
ROCHELLE PARK, N.J., April 25, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of its latest version of Sapiens ReinsuranceMaster.

The new release of Version 9 brings a multitude of enhancements and technology stack updates, designed to empower insurers and reinsurers with robust, enriched functionality to support business requirements. This includes automating global inter-company retrocession, facilitating U.S. NAIC statutory reporting (Schedule F), and real-time reinsurance allocation support (‘reinsurance as a service’).
The latest release offers a multitude of enhancements, with one of the standout features being the seamless integration of Sapiens Intelligence with Sapiens ReinsuranceMaster. This integration empowers users with advanced data capabilities and actionable insights through out-of-the-box reinsurance reports and analytics of the reinsurance portfolio’s performance.
In addition, the new release brings significant improvements to the user experience, with a revamped user interface, enhancements in processing performance through improvements and parallel processing mechanisms, improved scalability and operability. 
“With the growing significance of reinsurance in today’s volatile environment, our latest version of Sapiens ReinsuranceMaster with Sapiens Intelligence offers even greater value to insurers and reinsurers, catering to the ever-changing demands of this dynamic market,” said Roni Al-Dor, Sapiens President & CEO. “Leveraging the shared experience from our other products as well as requirements from our global client base, the solution is now very well-positioned to support global automation of complex reinsurance programs and provide management with insights into reinsurance performance as well as statutory reporting.”  
Sapiens ReinsuranceMaster is a comprehensive, single platform for large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.
Sapiens Intelligence, now a fully integrated component of Sapiens ReinsuranceMaster v.9, produces actionable insights to maximize the value of data and KPIs for smarter decision making, improving reinsurance business management.
About Sapiens  
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn  
Investor and Media Contact : Yaffa Cohen-Ifrah Sapiens Chief Marketing Officer and Head of Investor Relations Email: [email protected] 
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:  the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic,  and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
 
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