The smart healthcare products market is expected to grow significantly through 2023, according to Transparency Market Research report.
Here are six things to know:
1. By 2023, the market is expected to hit $57.85 billion.
2. The market is projected to reach $31.71 billion by the end of this year. From 2015 to 2023, the market is anticipated to increase at a compound annual growth rate of 8.84 percent.
3. By product type, e-health records lead the market and are expected to generate revenue of $39.61 billion by 2023.
4. North America is dominating the market due to growing demand. The region is anticipated to generate $21.09 billion in smart healthcare product revenue by the end of 2023.
5. The Asia Pacific market is expected to increase at a 9.77 percent CAGR in the aforementioned timeframe due to the rapidly changing healthcare industry in the region.
6. Products' escalated costs and safety pose as barriers to market growth.
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