CAGR: 8.8%Current Market Size: USD 3 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global hospital capacity management solutions market is expected to grow from USD 3 billion in 2022 to USD 5.8 billion by 2030, at a CAGR of 8.8% during the Projection period 2023-2030. The growth of the hospital capacity management solutions market is mainly driven by the rise in illnesses.
When compared to other types of healthcare facilities, hospitals are the greatest option for treating serious illnesses. Hospitals make full use of scientific and technical advancements to provide patients with efficient medical care while shortening their stay in the facility. Inadequacies and delays can, nevertheless, be experienced by patients in hospitals. Patients wait for beds in critical care and recovery rooms for days, sometimes even months. Procedures and surgeries are frequently postponed or canceled. Inpatients have moved around a lot and been put in the wrong beds. Because there are fewer nurses and other hospital employees than needed, they have more work to do. The market for hospital capacity management solutions is primarily driven by rising healthcare facility demand and technological advancements in hospital capacity management. Numerous aspects of medical practice have improved as a result of increased government initiatives to improve patient care, increased investment by healthcare IT companies, increased demand for integrated healthcare systems, increased hospital enrollment, and increased attention to patient-centered care delivery. The market for hospital capacity management solutions benefits as a result. The global market for hospital capacity management solutions is being driven by an increase in mergers and acquisitions as well as a growth in the popularity of portable health IT.
Sample Request: - Global Hospital Capacity Management Solutions Market
Market Dynamics:
Drivers:
The hospital capacity management solutions market is predicted to develop as a result of rising rates of hospitalization due to chronic diseases. For instance, the World Health Organization reports that 9.6 million fatalities and 18.1 million new cases of cancer were reported globally in 2018. Moreover, it is anticipated that rising accident rates will spur market expansion. For instance, the National Highway Traffic Safety Administration, a U.S. federal body, reports that 10,511 fatalities involving motor vehicles were reported in the U.S. in 2018 as a result of accidents.
Restraints:
Due to its high cost, HCMS is more common in rich nations than in developing or underdeveloped nations. Second, it is anticipated that late results delivery may impede market expansion. Lack of knowledge is another factor that the HCMS market is predicted to face throughout the Projection period. To increase the quality of service and reimbursement scenarios, healthcare professionals must abide by various complex rules and regulations and adhere to strict requirements. Although these rules are put in place to enhance the quality of service and the effectiveness of healthcare providers, many of these professionals view them as barriers or impracticable to implement. Thus, during the course of the Projection period, these rules are anticipated to restrain the expansion of the global hospital capacity management solutions market.
Opportunities:
Particularly in growing nations, there is a substantial disparity between the number of hospital beds and the number of patients. Players in the market for hospital capacity management solutions are anticipated to benefit from these lucrative growth prospects. For instance, the National Health Profile 2019 published by the Health Ministry of the Government of India estimates that there are 55,591 state-run hospitals and 1,844 government hospital beds in India. Additionally, it is anticipated that increased financing from public and private entities to enhance patient experience will accelerate market growth. For instance, Partners HealthCare, a non-profit hospital and physician network, started a five-year digital health program in December 2019 to enhance clinical care throughout the system and improve the patient experience.
Challenges:
Based on historical data, HCMS handles complicated requirements to estimate resource and capacity demands. Projections may therefore not be accurate because each scenario may change depending on the circumstances. The global market for hospital capacity management solutions, however, is expected to be constrained throughout the Projection period due to a lack of skilled healthcare IT experts, an increase in complexity brought on by inconsistent data, and data privacy issues.
Segmentation Analysis:
The global hospital capacity management solutions market has been segmented based on delivery mode, application and region.
By Delivery Mode
The delivery mode segment is cloud-based and on-premise. The cloud-based segment led the largest share of the hospital capacity management solutions market with a market share of around 54.5% in 2022. For keeping electronic medical records (EMR), such as digital outputs from MRI scanners, bedside monitors, and others, cloud-based systems are advantageous. The need for cloud-based solutions is anticipated to develop significantly as a result of the increased demand for point-of-care access to medical records and the acceleration of their digitalization.
By Application
The application segment is integrated solutions mad standalone solutions. The integrated solutions segment led the largest share of the hospital capacity management solutions market with a market share of around 56% in 2022. Due to their greater efficiency and use of several modules, integrated solutions are anticipated to grow more robustly than standalone ones. An integrated solution is a mix of two or more pieces of software that helps automate hospitals and lower labor costs. This element may influence market demand.
Global Hospital Capacity Management Solutions Market - Sales Analysis.
The sale of the hospital capacity management solutions market expanded at a CAGR of 7.6% from 2016 to 2022.
Hospital beds, carers, and other resources are efficiently utilised and managed via hospital capacity management solutions (HCMS). HCMS facilitate better patient care and anticipate patient inflow. These systems include a number of modules, including bed management, real-time tracking, and workflow management. The dynamics of hospital capacity management systems are changing as a result of the development of technical applications and user-friendly mobile applications. Additionally, cloud-based solutions are used by the majority of healthcare industries to safeguard data. This helps to protect patients' privacy and gives quick access to healthcare professionals exclusively.
Additionally, it is anticipated that the adoption of 5G services and tailored solutions made exclusively for healthcare settings would fuel the expansion of hospital capacity management solutions. The majority of manual tasks in healthcare settings are anticipated to be automated with the use of technology in the next years. The use of hospital capacity management solutions will consequently rise.
Thus, owing to the aforementioned factors, the global hospital capacity management solutions market is expected to grow at a CAGR of 8.8% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the hospital capacity management solutions market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the hospital capacity management solutions market and held a 37% share of the market revenue in 2022.
Global Hospital Capacity Management Solutions Market - Country Analysis:
Germany's hospital capacity management solutions market size was valued at USD 0.43 billion in 2022 and is expected to reach USD 0.85 billion by 2030, at a CAGR of 8.9% from 2023 to 2030.
Due to technical developments, the adoption of hospital automation, and an increase in the population of elderly people, Germany is predicted to dominate the industry. For German hospitals, advancing technology in resource management is a crucial concern. Germany needs to employ HCMS due to an increase in hospital patients and a lack of resources. In this aspect, HCMS has shown an ability to boost hospital productivity and income. These technologies can provide real-time location tracking, and asset and bed management. In the near future, technological developments of user-friendly features are projected to further enhance the growth of the HCMS market. Additionally, the market in the regions is being driven by the introduction of more sophisticated hospital capacity management tools as well as a heightened awareness of their potential.
China’s hospital capacity management solutions market size was valued at USD 0.46 billion in 2022 and is expected to reach USD 0.93 billion by 2030, at a CAGR of 9.2% from 2023 to 2030.
Every second a patient needs a hospital bed in a heavily populated nation like China. There is a larger patient pool due to the high population. Therefore, in this circumstance, a shorter hospital stay is required in order to shorten the line at the emergency room. All of these elements may boost demand in the Chinese market. By analyzing and Projectioning bed availability at the emergency department (ED), HCMS can cut wait times by 35–50%. The nearest nurse, doctor, or carer is assigned to the patient by the HCMS to provide prompt care, allowing for an early discharge. Reduced hospital stays are one reason that is anticipated to drive HCMS demand in China throughout the Projection period.
India's hospital capacity management solutions market size was valued at USD 0.35 billion in 2022 and is expected to reach USD 0.70 billion by 2030, at a CAGR of 9.1% from 2023 to 2030.
This is mostly due to the region's rapid increase in chronic diseases, as well as its expanding network of healthcare facilities and booming economy. As the number of patients rises and there is a need to better coordinate resources and patient care, the HCMS market in developing nations like India is anticipated to expand. Additionally, a rise in the adoption of technologically advanced goods in the region and greater government investment to provide better healthcare facilities are all contributing to the region's market expansion.
Key Industry Players Analysis:
To increase their market position in the global hospital capacity management solutions market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
8.8% |
Market Size |
3 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Delivery Mode, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Awarepoint Corporation (CenTrak), Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., Cerner Corporation, Care Logistics, LLC, TeleTracking Technologies, Inc., McKesson Corporation, Central Logic, Sonitor Technologies, Inc., and STANLEY Healthcare. |
By Delivery Mode |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Hospital Capacity Management Solutions Market By Delivery Mode:
Global Hospital Capacity Management Solutions Market By Application:
Global Hospital Capacity Management Solutions Market By Region:
Global hospital capacity management solutions market is expected to reach USD 5.8 billion by 2030.
The hospital capacity management solutions market is projected to have a CAGR of 8.8%.
The hospital capacity management solutions market is predicted to develop as a result of rising rates of hospitalization due to chronic diseases. For instance, the World Health Organization reports that 9.6 million fatalities and 18.1 million new cases of cancer were reported globally in 2018.
Leading market players active in the global hospital capacity management solutions market are GE healthcare, Alcidion Corporation, TeleTracking Technologies, Inc., Central Logic, STERIS plc. McKesson Corporation, Cerner Corporation, NextGen Healthcare, Inc., Change Healthcare, and Infosys Limited. among other
Political Factors- A favourable, stable business climate with predictable market growth tendencies is produced by high political stability. However, political unrest discourages investment, erodes the confidence of stakeholders in the economy, and as a result, has a detrimental effect on organisational performance. Several nations currently have active hospital capacity management solutions markets, and each has its own unique political unrest. The expansion of the gold market and the hospital capacity management solutions market could both be hampered by the rising political unrest and instability around the world. Government policy changes that happen frequently make things more unpredictable and hamper the expansion of businesses.
Economic Factors- The economic prosperity of a nation has a direct impact on organisational performance. Growing economies offer numerous potential for the hospital capacity management solutions market to expand. In a similar spirit, it is critical to comprehend the stage of the industrial lifecycle. Due to market saturation, entering mature industries may provide more of a challenge than entering businesses in the growth stage. The financial performance of the hospital capacity management solutions market sector is impacted by how much money is invested in infrastructure development by the government of the host nation. Business operations are facilitated by a well-developed infrastructure, increasing the likelihood that the country's gold industry will prosper.
Social factors- For markets like the hospital capacity management solutions market, changes in demographic trends including population ageing, migration patterns, and socioeconomic factors are crucial. By carefully examining the demographic information, the hospital capacity management solutions market can select the proper market segment or sectors with significant growth potential. Migration also has an impact on business and marketing plans. It is crucial for the hospital capacity management solutions market to understand how people feel about migration in general since it may affect businesses' ability to hire foreign management in the host country.
Technological Factors- To keep ahead of the competition, the hospital capacity management solutions market should carefully evaluate current technical developments. It's critical to pay attention to how 5G could improve user experience, speed, and access to increasing productivity. These technological advancements have the power to fundamentally alter a sector of the economy and alter the guidelines for market actors' success. It is also important to consider the technology's state of development and maturity within the relevant sector. By joining industries where technology development has yet to reach maturity and concentrating on recently created technological advancements, the hospital capacity management solutions market can grow its market share.
Environmental Factors- Green or eco-friendly product usage is becoming more and more popular. The hospital capacity management solutions market can seize the chance and attract players by using green business practices. Priorities for product innovation are shifting as a result of regulatory organizations' emphasis on ensuring conformance with environmental regulations. In the hospital capacity management solutions market marketing plan, environmental friendliness must take precedence over conventional value propositions. The media, environmental organizations, customers, and the general public might criticize the hospital capacity management solutions market if it consistently depletes its resources.
Legal Factors- Since certain nations have strict laws safeguarding worker safety, the market for hospital capacity management solutions market must abide by employee/labor health and safety norms. The hospital capacity management solutions market has a moral and ethical duty to provide a secure workplace for its employees. Similar to the above, while developing human resource practices, anti-discrimination regulations (such as equal employment opportunity laws) must also be carefully considered, as discriminating litigation against employers undermines an organization's reputation and impair its capacity to recruit and retain talent. Consumer concerns about their privacy and security have made data protection a serious issue. To protect consumer data, the hospital capacity management solutions market must look at data protection laws.
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