PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1424982
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1424982
Healthcare Computerized Maintenance Management System Market size was valued at USD 234.45 Million in 2022, expanding at a CAGR of 11.5% from 2023 to 2030.
Automated stock monitoring and better planning for purchase orders are two benefits of computerized maintenance management systems. Additionally, these systems guarantee that hospitals have the required supplies and medications on hand. Additionally, inventory control guarantees that replacement parts for medical equipment are available.
Healthcare Computerized Maintenance Management System Market- Market Dynamics
Increasing need for preventive maintenance of medical equipment and reducing downtime to propel market demand
The healthcare computerized maintenance management system market is growing because of a growing emphasis on preventing malfunctions and downtime in medical equipment. Furthermore, the use of CMMS in hospitals and other facilities is increasing due to shifting government laws and the requirement to uphold high standards during audits. Market expansion is being aided by technological developments like artificial intelligence (AI) and bettering health infrastructure. Medical equipment is essential to healthcare facilities' ability to deliver high-quality patient care. By automating maintenance procedures, tracking maintenance history, and allowing preventative maintenance scheduling, CMMS software contributes to ensuring the dependability and availability of important equipment.
Additionally, useful data and analytics reports on equipment performance are produced by CMMS software. This can be applied to data-driven decision-making, which enables healthcare companies to see patterns, minimize expenses, formulate plans, and decide on resource allocation, equipment replacement, and improvements with knowledge. All things considered, CMMS software enables healthcare institutions to streamline their processes and provide effective, superior patient care. As per the H2 2022 Healthcare Data Breach Report by Critical Insight, there were 28 million individual health records exposed because of breaches in the second half of 2022, a 35% increase over the previous year. Additionally, the ability to monitor and control remotely became crucial, and the smooth upkeep of digital infrastructure was made possible by integration with telehealth and digital health technologies. These factors are expected to bolster the market growth.
Healthcare Computerized Maintenance Management System Market- Key Insights
As per the shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.5% over the forecast period (2023-2030)
Based on Deployment, cloud-based segment was predicted to show maximum market share in the year 2022, due to its scalability and accessibility.
Based on Application segmentation, preventive maintenance segment was the leading segment in 2022, due to high demand for improved planning or schedule.
Based on End-User segmentation, hospitals segment was the leading segment in 2022, mainly due to growing demand for complex maintenance needs.
On the basis of region, North America was the leading revenue generator in 2022, owing to presence of top healthcare companies.
The Global Healthcare Computerized Maintenance Management System Market is segmented on the basis of Deployment, Application, End-User, and Region.
The market is divided into two categories based on Deployment: on-premises and cloud-based. The cloud-based segment dominates the market. Growing adoption of advanced healthcare equipment is expected to fuel segment demand.
The market is divided into five categories based on Application: preventive maintenance, work order planning, inventory management, predictive maintenance, and others. The preventive maintenance segment dominates the market and is likely to maintain its dominance During the forecast period. The rising demand for preventive measures and manage complex computerized system is driving market growth.
The market is divided into four categories based on End-User: hospitals, clinics, diagnostics laboratories, and others. The hospitals segment dominates the market and is likely to maintain its dominance during the forecast period. The inventory management, patient safety, cost management is expected to impact to segment growth.
Healthcare Computerized Maintenance Management System Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. The presence of major companies and cutting-edge healthcare infrastructure, a strict regulatory environment, and an emphasis on patient safety and quality of treatment are factors propelling the market's expansion. The need for CMMS solutions to manage complicated equipment and enhance performance is expected to rise in North America due to the region's well-developed healthcare infrastructure.
Both large- and small-scale manufacturers & suppliers are present in the market, which is very competitive. To remain competitive, the market players are implementing a range of initiatives, including software updates and product launches, partnerships, expansions, and acquisitions. Additionally, companies frequently expand their manufacturing facilities as a realistic tactic to maintain market competitiveness.
In February 2023, Accruent announced the launch of MC Kinetic, a mobile CMMS application which can work offline and strengthen remote monitoring.