Valley Cottage, NY, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Hospital capacity management solutions are used to manage patient flow in hospitals. Hospital capacity management solutions help track patient’s clinical data and assign the nearest nurse, doctor or caregiver to patients for timely care, thus ensuring their earlier recovery or treatment and discharge. In most developed countries, hospital capacity management solutions are widely preferred to manage hospital assets and patients. Hospitals need to maximise use of resources in order to provide better care and generate more revenue. Hospital capacity management solutions analyse and predict bed occupancy at the Emergency Department (ED), thereby reducing wait time by 35–50%.
Market Value and Forecast
The global hospital capacity management solutions market is anticipated to register a CAGR of 5.0% during the forecast period in terms of revenue. Growth of the global hospital capacity management solutions market is mainly driven by increasing number of in-patients and need for greater efficiency to manage patient flow in hospitals. Moreover, growing trends in the market include increasing adoption of integrated solutions in the hospitals.
Drivers and Restraint
Hospitals capacity management solutions are being extensively adopted by hospitals since these enable efficient management and utilisation of beds, caregivers and other assets. These solutions are used widely in hospitals in developed countries, but not as much in developing countries, owing to high price points. However, rising expenditure on healthcare and disposable income is propelling adoption of these solutions in countries such as India, China and Brazil. Increasing number of patients undergoing surgeries, reduction in the number of beds in hospitals, greater efficiency of hospital capacity management solutions over conventional approach and technological advancements are factors expected to result in further growth of the hospital capacity management solutions market over the forecast period. Despite the fact that the hospital capacity management solutions help maximise bed occupancy, patient flow is indeterminate and totally event driven. It is possible that, at times, demand forecast could differ from the real scenario, thereby resulting in lower or higher demand for beds and healthcare services. These factors are expected to negatively impact the market during the forecast period.
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Segmentation, by Product Type
The global hospitals capacity management solutions market is segmented on the basis of product type into workflow management solution, asset management solution, bed management solution, quality patient care solution, real-time locating system and event driven solutions. The real-time locating system segment is expected to dominate the global hospital capacity management solutions market and is projected to witness 1.7x increase in its revenue over the forecast period. The workflow management solution segment is projected to witness a healthy CAGR of 4.9% during the forecast period. The real-time locating system segment has been estimated to hold 34.1% revenue share of the global hospital capacity management solutions market by the end of 2015.
Segmentation, by Application
The global hospitals capacity management solutions market is segmented on the basis of application into standalone solutions and integrated solutions. Of all the segments, the integrated solutions segment is expected to register the fastest CAGR over the forecast period.
Segmentation by Delivery Mode
The global hospitals capacity management solutions market is segmented on the basis of delivery mode into on premise and cloud-based solutions. Of all the segments, the cloud-based segment has been estimated to dominate the global hospitals capacity management solutions market by 2015 end, and this trend is expected to continue over the forecast period as well.
Key Regions
In this report, the global hospitals capacity management solutions market has been segmented into seven major regions, which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa. The North America market dominated the overall global hospitals capacity management solutions market with over 55% share in 2014, while the Western Europe followed with over 19% market share.
Competitive Landscape
Major players in the hospital capacity management solutions market include Awarepoint Corporation, Allscripts Healthcare Solutions, Inc., Care Logistics, LLC, McKesson Corporation, Central Logic, STANLEY Healthcare, Sonitor Technologies, Inc., TeleTracking Technologies, Inc., Cerner Corporation and Epic Systems Corporation. In 2015, the Awarepoint Corporation signed an agreement with Bluewater Health to install its Real-Time Locating Systems (RTLS) for asset tracking, clinical workflow, and way finding. The hospital capacity management solutions market is expected to witness launch of various new customised solutions over the forecast period.
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