France Smartcare Market is expected to reach US$ 11,475.65 million by 2030

Publisher: The Insight Partners

Hospitals and Clinics Segment, Based on End User, to Lead France Smartcare Market During 2022–2030

According to our new research study on “France Smartcare Market Forecast to 2030 – Country Analysis – by Type and End User,” the France smartcare market size was valued at US$ 3,728.01 million in 2022 and is projected to reach US$ 11,475.65  million by 2030; it is estimated to register a CAGR of 15.1% from 2022 to 2030. Key factors driving the France smartcare market growth include the growing penetration of EHR or EMR and medical device connectivity and favorable reimbursement scenario.

Telemedicine requires a network supporting high-quality videos while real-time remote patient monitoring. Using 4G or older networks for transferring larger files between departments can be time consuming, forcing physicians to spend their valuable time waiting for the file transfer process to complete. Upgrading to 5G can eliminate these blocks and provide healthcare providers with an effective network that can continue to adapt to new technology. 5G is the next generation of wireless technology that enhances all devices operating in a network by providing greater bandwidths, faster speeds, and greater capacity to connect devices. 5G technology offers 100–2,000 times faster speed than typical hospital wireless networks. Thus, it allows for rapid data transfer even for large data sets (i.e., low latency), which will help the smartcare to work faster. Using connected medical devices paired with smart data applications and artificial intelligence (AI), doctors can remotely track the patient’s vitals and efficiently proceed with the diagnosis, prescription, and treatment plans. 5G technology can transform the healthcare sector with its high speed, low latency, and improved data accuracy. Thus, combining 5G technology and AI can greatly improve the healthcare sector. The importance of telehealth solutions was widely witnessed during the COVID-19 pandemic, when maintaining social distancing was imperative. Remote patient monitoring aided in the proactive management of chronic diseases and the delivery of healthcare services. Healthcare experts increasingly recognized the value of smartcare. As a result, the future of healthcare information systems is shifting toward digital data services. For example, EHRs, smart clinical administrative systems, and patient data portals are transforming the medical field to allow extraordinary access to care and interoperability among patient medical records. Due to the various benefits offered by this technology, 5G is the essential network to enrich cloud-based services and expand the offering of connected solutions. As 5G wireless connectivity expands what is possible from smartcare, care providers can treat more patients and provide medical assistance to underserved patients worldwide. It means a world of care accessibility for patients that was once impractical.

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Furthermore, 5G is a key technology for digital health and the Internet of Things (IoT) and is rapidly being incorporated into various medical devices. Wireless technology can connect to devices in the hospital, at home, and wherever a need arises. 5G-enabled wearable devices can transmit large data packets throughout the day, driving improved patient outcomes through continuous remote monitoring. Thus, with increasing smartcare technology usage, the need for a better network and technology also arises. Thus, the emergence of 5G technology is expected to offer lucrative opportunities to the France smartcare market during the forecast period.

The smartcare market, by end user, is segmented into hospitals and clinics, medical nursing homes, home healthcare, and others. The hospitals and clinics segment held the largest market share in 2022, whereas the home healthcare segment is anticipated to register the highest CAGR of 15.8% during the forecast period. Hospitals are the fastest-growing end users of the smartcare market in France. Hospitals are complex organizations that provide healthcare services such as disease screening, diagnosis, and treatment with the help of modernized equipment. Hospitals and clinics are the primary healthcare centers patients seek for their first aid and treatment. The implementation of advanced diagnostics technologies in hospitals has paved the way for improved and early detection of disease. It also supported research related to disease treatment. Hospitals in France are investing in introducing technologically advanced smartcare devices in their organizations to maintain the proper flow of treatment. The rising focus of clinics on installing RPM and EHR devices and software to gain easy access to data and monitor patients from clinics rather than increasing the visits of patients and admitting them to hospital in case of emergency also fuels the France smartcare market growth for the hospitals and clinics segment.

The shift of patient care from hospitals to homes is significant. Many patients prefer the comfort of at-home health monitoring over costly and inconvenient hospital care. Sensor-embedded systems enable the monitoring of vital signs such as pulse, pH, temperature, and others in the comfort of a patient's home. Demand for devices that integrate sensors and electronics and operate at low power levels is rising. As a result, numerous applications of sensors in the pharmaceutical industry are becoming more valuable. During reflections on the COVID-19 outbreak crisis, patients of one archetype, focused on convenience, are beginning to experiment with new, digital-first pharmacy entrants that provide in-home pharmacy experiences. Multi-disease patients seek higher-touch clinical support models in the home and digitally, as well as guidance from a trusted pharmacist in managing several medications. Thus, a growing demand for home healthcare propels the France smartcare market growth.

Oracle Corp, Samsung Healthcare, BodyCap, GE Healthcare Technologies, Orme SARL, AdolfWurth GmbH & Co KG, McKesson Corp, Kaspard, Domalys SAS, Siemens Healthineers, MintT, and Groupe WINNCARE SAS are among the leading companies operating in the France smartcare market.  

Based on type, the France smartcare market is segmented into connected beds, remote patient monitoring (RPM), smart pills, smart syringes, RFID systems, electronic health records (EHR), and others. Based on the end user, the market is segmented into hospitals and clinics, medical nursing homes, home healthcare, and others.

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