Newark, NJ, June 04, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global hospital capacity management solutions Market is expected to grow from USD 3.20 billion in 2020 and to reach USD 11.47 billion by 2028, growing at a CAGR of 17.30% during the forecast period 2021-2028.
Rising demand for enhanced health care facilities and technological advancements in hospital capacity management are driving the global hospital capacity management solutions market.
Increased investment by health-care IT businesses, increasing government initiatives to enhance patient care, increased demand for integrated health-care systems, increased the number of hospitals, and increased attention on patient-centric care delivery have all enhanced several areas of medical procedures. As a result, there has been a surge in the global market for hospital capacity management solutions.
The Hospital Capacity Management Solution (HCMS) is a software program to help hospitals efficiently use and maintain hospital beds, caregivers, and other asset availability and allocations. These solutions include modules such as workflow control, real-time monitoring, and bed management. These are beneficial in increasing workflow efficiency while also lowering hospital costs.
Hospital Capacity Management Solutions (HCMS) were developed in response to the growing demand for better hospital capacity planning methodologies and tactics. Ineffective hospital capacity asset management almost invariably leads in a significant revenue loss for hospitals. The absence of patient care coordination is another factor that makes it tough for them. The increased demand for a variety of analytical tools for hospital capacity management is another notable factor driving the market. Advanced analytical tools, particularly those that enable dynamic scheduling and forecasting, are being introduced by healthcare IT developers, which is a promising trend that is projected to greatly boost the market in the future years.
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On the other hand, rigid regulations governing the adoption of capacity management technologies are posing a challenge to the industry. Furthermore, such systems are costly to install and maintain. Market expansion is also being stifled by a lack of well-trained and highly educated people, particularly in developing countries like China and India. During the forecast period, the global hospital capacity management solutions market is anticipated to be restrained by a shortage of educated health care IT workers, an increase in complexity due to a lack of consistent data, and data privacy issues.
Key players operating in global hospital capacity management solutions market include TeleTracking Technologies, Inc., Cerner Corporation, STERIS plc. McKesson Corporation, Change Healthcare, NextGen Healthcare, Inc., GE healthcare, Alcidion Corporation, Central Logic, and Infosys Limited.
- CenTrak, Inc. announced the TruView system in October 2019, which uses precise locating technologies to assure safety, optimise efficiency, and identify patients.
- In December 2019, EPSi, the budgeting, planning/forecasting, cost accounting, and financial decision support platform of Allscripts Healthcare Solutions, Inc, announced a new advanced analytics product and services solution to the market.
Asset Management segment dominated the market and held the largest market share of 42% in the year 2020
On the basis of Product, the global Hospital Capacity Management Solutions Market is segmented into Asset, Bed Management, Nurse Scheduling, and Patient Flow Management. Asset Management segment dominated the market and held the largest market share of 42% in the year 2020. The growing emphasis on efficient management and storage of healthcare equipment is responsible for the substantial proportion of this market. Government incentives, sanctions, and the need to reduce healthcare costs are all helping to drive this market segment forward.
Software segment dominated the market and held the largest market share of 60% in the year 2020
On the basis of Component, the global Hospital Capacity Management Solutions Market is segmented into Software, Integrated, and Services. Software segment dominated the market and held the largest market share of 60% in the year 2020. The software segment's main growth drivers are the continuous need for upgrades and enhancements in software programmes.
Cloud segment dominated the market and held the largest market share of 70% in the year 2020
On the basis of delivery mode, the global hospital capacity management solutions market is segmented into on-premises and cloud. Cloud segment dominated the market and held the largest market share of 70% in the year 2020. Cloud-based technologies are used to maintain EMR updated. Bedside monitors, MRI scanners, and other medical devices are among them. The ongoing pandemic has boosted demand for medical records access at the point of service. The need for cloud-based solutions is likely to rise as a result of this digitization.
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Regional Segment of Hospital Capacity Management Solutions Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
In 2020, Europe and North America held the largest share of the market for hospital capacity management solutions. The use of hospital capacity management solutions in the region is being driven by a growing government emphasis on providing improved health care services and an increase in the usage of these solutions. The Asia Pacific market is predicted to grow rapidly throughout the projected period. Increased government spending in providing quality health care services, and also a spike in the adoption of technologically advanced products in the region, are all contributing to the region's market expansion.
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About the report:
The hospital capacity management solutions market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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