PUBLISHER: Allied Market Research | PRODUCT CODE: 1193126
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193126
The global hospital capacity management solution market was valued at $2,927.25 million in 2021, and is projected to reach $6,745.13 million by 2031, registering a CAGR of 8.7% from 2022 to 2031.
Hospital capacity management can be described as optimizing a hospital's bed availability to provide enough space for effective, error-free patient evaluation, treatment, and transfer to satisfy daily demand. It helps the hospital executives, administrators, and clinical personnel to manage capacity and perform tracking more effectively due to hospital capacity management tools. Furthermore, planning and tracking lead to better resource management and usage, which boosts production and efficiency.
According to the National Health Council, incurable and ongoing chronic diseases affect approximately 133 million Americans, representing more than 40% of the total population of this country. Thus, the rise in the number of chronic health conditions leading to surge in the hospitalization, increase in demand for better health care facilities, and technical development in hospital capacity management are key factors driving the global hospital capacity management solution market. In addition, 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. These elements might all increase demand for hospital capacity management solutions in the market.
Moreover, the hospital capacity managing solutions offers maximum efficiency in the services offered by the hospitals, and also reduces the wait time for the patient. Furthermore, paperless operations can be performed by using the management solutions, by preparing the digital reports, which helps in improving patient satisfaction and also provides better services at affordable prices. Thus, prevalence of the advantages cause the adoption of the capacity management solutions by the healthcare sectors on a large scale leading to the market expansion.
In addition, there is a rise in the investments done by the key market players for the research and development process to develop more advanced capacity management tools with an aim to improve health care services. In addition, there is also increase in its adoption by large number of hospitals which are the key factors for the expansion of the hospital capacity management solution market. For instance, GE Healthcare announced the launch of intelligent workload management software, which operates on predictive analytics, optimizes workflow across an entire enterprise to improve the productivity. However, the market is expected to be significantly constrained in the near future by factors such as concerns about privacy of the patient's data.
The hospital capacity management solution market is segmented on the basis of product type, component, end user, and region. By product type, it is divided into workflow management solutions, bed management solutions, patient flow management solutions, and others. On the basis of component, the market is bifurcated into services and software. The software segment is further divided into on premise and cloud based. By end user, the market is categorized into private hospitals, state owned hospitals, and community hospitals. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Allscripts Healthcare Solutions, Inc., Epic System Corporation, General Electric, Halma plc, Healthstream Inc., Infosys, JVS Technologies Pvt Ltd., Koninklijke Philips N.V., McKesson Corporation, NextGen Healthcare, Inc., Steris plc., and TeleTracking Technologies, Inc.
Key Benefits For Stakeholders
By Product Type
By Component
By End User
By Region