Global Hospital Capacity Management Solution Market Size, Trends & Growth Opportunity, By Product (Asset Management (Medical Equipment Management, Bed Management), Patient Flow Management Solutions, Workforce Management (Nursing & Staff Scheduling Solutions, Leave and Absence Management) and Quality Patient Care), By Component, By Mode of Delivery, By End User, By Region and Forecast 2022-2027
Global Hospital Capacity Management Solution Market
Global Hospital Capacity Management Solution Market was valued at USD 3.1 billion in 2021 and it is expected to reach 10.2 billion by 2027 at a CAGR 13.38% from 2022-2027.
Utilizing and managing the availability of hospital beds, staff, and other resources efficiently involves using hospital capacity management solutions. Workflow management, real-time tracking, and bed management are some of the elements that make up this solution. In comparison to other types of medical care facilities, hospitals are the finest place to treat sickness and create the ideal place. Hospitals heavily rely on technical and medical advancements to offer patients appropriate medical care while shortening their stay in the facility.
Market Drivers
The primary factor anticipated to fuel the growth of the global hospital capacity management market during this projected period is the rise in demand for better healthcare facilities. Additionally, expanding technology developments in hospital capacity management will favourably impact market expansion.
The market with hospital capacity management solutions is also anticipated to grow as real-time locating system use increases. For instance, Advantech introduced their real-time location system solution-ready package (SRP) in August 2020. This package is intended for real-time monitoring and locating of medical supplies, personnel, and patients. Hospital administrators always look for ways to enhance patient satisfaction, uphold high standards of treatment, and cut down on waiting times. Real-time location systems that enable asset tracking are becoming more and more common in the healthcare sector to meet these expectations. Additionally, the market expansion is anticipated to be accelerated by the rise in demand for a variety of analytical tools for hospital capacity management.
Market Restraints
The expansion of the market for hospital capacity management solutions globally is anticipated to be hampered by data security breaches. Medical records are the most frequently exposed data in healthcare breaches, followed by billing and insurance information and payment details. The expansion of the global market for hospital capacity management solutions is also anticipated to be hampered by poor tool integration into existing processes.
Market Segmentation
On the basis of product, market is segmented into Asset Management (Medical Equipment Management, Bed Management), Patient Flow Management Solutions, Workforce Management (Nursing & Staff Scheduling Solutions, Leave and Absence Management) and Quality Patient Care.
Based on the component, market is segmented into software (Integrated, Standalone), and Services. On the basis of mode of delivery, market is segmented into On-premise, and Cloud-based. Further, market is segmented into end user such as Hospitals, Ambulatory Surgical Centers, and Others.
Regional Analysis
The Global Hospital Capacity Management Solution Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The global demand for hospital capacity management solutions is dominated by the North American and European continents. This is primarily due to the region's worrisome rise in chronic diseases and cutting-edge healthcare. Additionally, during the projected period, the Asia Pacific market is anticipated to develop at the highest CAGR. Government e-health activities are increasing, as is medical tourism, and there is a growing need for management solutions as a result of the COVID-19 outbreak as well as a growing demand for high-quality healthcare.
Key Players
Various key players are listed in this report such as Infosys Limited, Cerner Corporation, Epic Systems Corp., Sonitor Technologies, Inc, Awarepoint Corp, McKesson Corporation, STANLEY Healthcare Solutions Limited, TeleTracking Technologies, Inc, Allscripts Healthcare Solutions, Inc., Koninklijke Philips N.V., etc. Key players are focusing on the mergers and acquisitions, with strategic alliances like technology, licensing, to obtain an edge over competitors.
Market Taxonomy
By Product
o Medical Equipment Management
o Bed Management
o Nursing & Staff Scheduling Solutions
o Leave and Absence Management
By Component
o Integrated
o Standalone
By Mode of Delivery
By End User
By Region
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook