New York, March 30, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Patient Flow Management Solutions Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Integrated and Standalone), Type (Real-Time Locating Systems and Event-Driven Patient Tracking), Component (Software, Hardware and Services); and Delivery Mode (On-Premise, Web Based and Cloud-Based) and Geography”, the global patient flow management solutions market growth is driven by the rising adoption of a patient-centric approach by healthcare providers, rising numbers of start-ups, and shortage of nursing staff and doctors.
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| Report Coverage | Details |
| Market Size Value in | US$ 0.88 Billion in 2021 |
| Market Size Value by | US$ 3.62 Billion by 2028 |
| Growth rate | CAGR of 22.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 163 |
| No. Tables | 139 |
| No. of Charts & Figures | 78 |
| Historical data available | Yes |
| Segments covered | Product, Type, Component, and Delivery Mode |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Patient Flow Management Solutions Market: Competitive Landscape and Key Developments
McKesson Corporation; Epic Systems Corporation; Cerner Corporation; TeleTracking Technologies Inc; Allscripts Healthcare, LLC; Sonitor Technologies AS; ABOUT Healthcare, Inc.; Care Logistics; Intelligent InSites; and Aptean are among the leading companies operating in the global patient flow Management Solutions Market. These players are focusing on expanding, diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities.
In September 2021, Walmart has announced a new partnership with Epic, the world's most extensively used and comprehensive health records system, to help consumers live better lives. Walmart Health will connect patients, health care providers, insurance carriers, and other stakeholders through a single, unified system that will improve communication, personalization, and information exchange between health care professionals and patients via a patient portal.
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In August 2020, Mary Washington Healthcare (MWHC) partnered with Care Logistics, the leader in patient progression and throughput, to further improve their mission to enhance the health of those in the communities they serve.
In 2020, North America dominated the patient flow management solutions market. The US holds the largest share of the market in this region. The market growth in the country is attributed to the rising healthcare expenditure, legislative reforms, funding and training initiatives, technological innovations, and government support for patient flow management in the region.
The legislative reform of the Affordable Care Act (ACA) in the US, rising adoption of patient-centric approach by healthcare givers, reduced costs of hardware and software, high return on investment for healthcare givers, and rising incentives by various governments for the adoption of patient flow management solutions are driving the growth of patient flow Management Solutions Market.
Increase Use of Smartphones, Tablets, and Pads in Healthcare Boosts Patient Flow Management Solutions Market Growth:
Advancements in technology have always had a major impact on the healthcare industry. The smartphone is one of the fastest-growing segments in the technology sector, and it has a proven significant impact on the healthcare sector. Smartphones are making day-to-day chores easier the technology and is also streamlining care for both physicians and patients. According to a new survey, hospitals are making significant investments in smartphone and secure mobile platforms to enable communications between clinicians and patients. For example, purpose-built devices can be integrated with in-hospital patient call systems, so nurses are paged when a patient hits the call button, further increasing responsiveness. The increasing use of smartphones is triggering the use of mobile-based applications by healthcare providers and patients to streamline workflow and avoid inconvenience such as hospital waiting time, availability of admission beds, and others, thereby providing significant opportunities to the patient flow Management Solutions Market players.
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Patient Flow Management Solutions Market: Segmental Overview
Based on the product, the patient flow Management Solutions Market: is segmented into integrated and standalone. The standalone segment held a larger market share in 2021 and is anticipated to grow significantly and register the highest CAGR in the market during the forecast period.
Based on type, the patient flow Management Solutions Market is segmented into real-time locating systems and event-driven patient tracking. Event-driven patient tracking held a larger market share in 2021 and is anticipated to grow significantly and register the highest CAGR during the forecast period.
Based on the component, the patient flow management solutions market is segmented into software, hardware, and services. Software held the largest market share in 2021 and is anticipated to grow at the fastest rate and register the highest CAGR during the forecast period.
Based on delivery mode, the patient flow management solutions market is segmented on-premise, cloud-based, and web based. In 2021, the web based segment held the largest market share. However, the cloud-based segment is expected to grow at the fastest rate during the coming years.
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COVID-19 placed a tremendous strain on healthcare systems globally. To decrease the risk of transmitting the virus to either patients or health care workers within their practice, providers postponed elective and preventive visits, such as annual physicals, and converted in-person visits to telemedicine visits whenever possible. Many patients also started avoiding visits because they were not willing to leave their homes and risk exposure. The COVID-19 pandemic required health systems to rethink patient journeys rapidly. New protocols and patient flows needed to be implemented across the health system, both for COVID-19 patients and non-COVID-19 patients, including shifting care to new intermediate facilities, telehealth modalities, and the home. Thus, these factors showed steady growth in the patient flow Management Solutions Market.
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