Chicago, Dec. 16, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Hospital Capacity Management Solutions Market by Product (Asset, Bed Management, Nurse Scheduling, Patient Flow Management), Component (Software, Integrated, Services), Delivery Mode (On-premises, Cloud), End User (Hospitals, ASC) - Global Forecast to 2026", The global hospital capacity management solutions market is projected to reach USD 7.0 billion by 2026 from USD 3.2 billion in 2021, at a CAGR of 17.1% during the forecast period.
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Scope of the Report:
| Report Coverage | Details |
| Market Size | USD 7.0 billion by 2026 |
| CAGR | 17.1% |
| Historical Data | 2019-2026 |
| Base Year | 2020 |
| Forecast Period | 2021-2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, By component, By mode of delivery, By end user and By region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled/Vendors | Cerner Corporation (US), McKesson Corporation (US), HealthStream (US), Stanley Healthcare (US), Halma plc (US), Infosys (India), Teletracking Technologies, Inc. (US), NextGen Healthcare (US), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), Sonitor Technologies (US), Koninklijke Philips N.V. (Netherlands), Neusoft Corporation (China), Infinitt Healthcare Co., Ltd. (South Korea), JVS Group (India), Infor Systems (US), Care Logistics (US), WellSky (US), Simul8 Corporation (US), and Alcidion Corporation (Australia) |
| Key Market Opportunities | IoT-based healthcare capacity management |
| Key Market Drivers | Need to curtail healthcare costs |
The growth in the hospital capacity management solutions market is mainly driven by factors such as increasing patient volume due to the rising prevalence of chronic diseases and COVID-19 and the need to manage regulatory compliance through the effective utilization of capacity management solutions. In addition, the need for better capacity management in hospitals, the need to curtail escalating healthcare costs, and the advantages of capacity management solutions in enhancing patient care and safety are expected to drive demand growth in the hospital capacity management solutions market during the forecast period.
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The hospital capacity management solutions market has been segmented on the basis of product, component, mode of delivery, end-user, and region. Based on product, the hospital capacity management solutions market has been segmented into asset management, patient flow management, workforce management, and quality patient care solutions. The asset management segment accounted for the largest share of the global hospital capacity management solutions market in 2020. The large share of this segment is attributed to the increasing focus on the proper management and storage of healthcare equipment. Government incentives, penalties, and the necessity to reduce healthcare costs are also contributing to the growth of this market segment.
On the basis of component, the global hospital capacity management solutions market is segmented into software and services. The services segment is estimated to grow at a high CAGR during the forecast period. The need for software integration & interoperability and regular upgrades are the major factors responsible for the growth of the services segment.
Based on mode of delivery, the global hospital capacity management solutions market is segmented into on-premise and cloud-based solutions. The cloud-based solution segment is estimated to grow at a high CAGR during the forecast period. With technological advancements in place, healthcare organizations are adopting new technologies to enhance their operational and administrative processes. The increasing need for and growing awareness of cloud-based hospital capacity management solutions have supported the growth of the cloud deployment model, and this trend is expected to continue in the near future.
On the basis of end-users, the global hospital capacity management solutions market is segmented into hospitals, ambulatory surgical centers, and other end users. The hospitals segment accounted for the largest share of the market during the forecast period. The large share of this segment can be attributed to government initiatives to enhance patient satisfaction and improve the quality of care, the growing patient volume, and the need to reduce the rising healthcare costs.
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Geographical Growth Scenario:
North America accounted for the largest share of the hospital capacity management solutions market in 2020. The presence of developed healthcare infrastructure, growing healthcare IT spending, evolving regulations for better healthcare outcomes and the presence of major market players in the region are some of the factors driving the growth of the hospital capacity management solutions market in this region. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The high growth in this regional market can be attributed to the increasing government initiatives for eHealth, growing medical tourism, increasing need for management solutions due to the COVID-19 outbreak, and the increasing demand for quality healthcare.
Key Players:
Cerner Corporation (US), McKesson Corporation (US), HealthStream (US), Stanley Healthcare (US), and Halma plc (US) are the key players operating in the hospital capacity management solutions market. Other prominent players in this market include Infosys (India), Teletracking Technologies, Inc. (US), NextGen Healthcare (US), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), Sonitor Technologies (US), Koninklijke Philips N.V. (Netherlands), Neusoft Corporation (China), Infinitt Healthcare Co., Ltd. (South Korea), JVS Group (India), Infor Systems (US), Care Logistics (US), WellSky (US), Simul8 Corporation (US), and Alcidion Corporation (Australia).
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