The better the technology, the higher the cost is the reason behind the utmost success of rental business in the US and Canada. Despite the big-budget, the need to avail of the latest technology is ever-rising in the developed countries.
The demand for electric smart beds, wheelchairs, and innovations in the healthcare industry has created a hype of rental searches like hospital bed rental Vaughan on search engines reducing the buying keywords. Instead of opting to purchase, small healthcare setups are preferring to use the services for one-off times.
Hyper-connected, ultra-modern, and state of the art, business with smart technology is the tending future. Be it healthcare, financial organizations, educational reconciliation, or health science. Smart technology has become the major incorporate into a journey towards technological maturity and modern adaptation in businesses.
The world was moving at a slow pace towards digitalization and innovation yet, the recent outspread of COVID-19 resulted in a wake-up call to the healthcare industry. Pandemic has created urgency and accelerated the demand for small businesses to invest in smart technologies, especially in medical and healthcare systems.
The simple implementation of fully-equipped electric and fast-tracked beds and med-tech technology in hospitals has opened the safe room for virtual care rather than manual nursing care and allowed more personalized healthcare for carefully monitoring the patients in the hospital.
Fast forward to the post-pandemic world, businesses that will invest in health tech innovations will have opportunities to lead the industry and maintain rapid growth in the future.
“Technology will fuel growth in the future; the question is how we are going to use it to improve patient care." Marwan Janahi, Director Science Park, Dubai.
According to the latest insights, the global value of the smart hospital market had crossed 22.43 billion dollars in 2019 and investors are hopeful that the expansion would be at higher CAGR in the coming decade from 2021 to 2031.
Now is high time that smart businesses consider investing in the fastest growing industry to meet the needs of variations in the latest business models and aid efficiencies for the hospital staff behind the screen.
The potential to invest in smart technology is skyrocketing for each day to come. Be it telemedicine, teleradiology, and telepathology, or high-tech and advanced electric beds and wheelchairs.
This healthcare optimization will save the time of patients and medical practitioners without losing the quality and accuracy.
While a general health practitioner visits 25 patients a day but if businesses utilize teleconsultation through investing in smart technology, the ratio could go up to 50 patients a day with reduced cost and patient satisfaction.
This optimization would also help medical staff analyze the patient's sensitive data and statistics with the highest accuracy requiring the least manual assistance.
Investing in wireless sensor networks (WSN), an ultra innovation used in smart beds will probably help to bring down any associated risk and ensure patient safety with its comprehensive and multidisciplinary design. It will lead to a related interconnectedness between the patients and doctors.
If we discuss the global size of the smart hospital bed and mattress industry alone, the ratio was close to 1.04 billion dollars in 2018 that was expected to reach 2.1 billion dollars or more in 2025. But because of the high incidence rate of COVID-19, the industry will experience a 100% growth rate. The only concern for medical scientists is the high-cost variations for these innovations.
The investment in the high-priced smart bed technology is growing at a slow pace. That is why the smaller healthcare systems in the US and Canada prefer to opt for authentic rental services for medical equipment instead of purchase decisions.
