Hospital Capacity Management Solutions Market Trends [2031]

Report Description

Hospital Capacity Management Solutions Market Outlook 2031

The global hospital capacity management solutions market size was USD 3.75 Bn in 2022 and is likely to reach USD 15.53 Bn by 2031, expanding at a CAGR of 17.1 % during 2023–2031. The rising prevalence of chronic diseases across the globe is expected to drive the market in the coming years.

Increasing demand for efficient hospital facility management and the rising demand for healthcare services drive the hospital capacity management solutions market. Hospitals are required to handle a huge patient flow on an everyday basis, while providing medical attention to every patient.

The hospital capacity management solutions help hospitals to optimize patient care by effectively allocating the resources to the hospital staff and patients. Moreover, the increasing prevalence of communicable and non-communicable diseases is expected to boost the market in the coming years. For instance,

• According to the report published by the WHO on September 16, 2023, about 41 million of the global population expire, due to non-communicable diseases such as cancer, diabetes, heart disease, and other chronic illnesses.

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Hospital capacity management systems (HCMS) help healthcare organizations to manage the availability and capacity of the hospitals in terms of accommodating patients. It lets the hospital staff track, arrange, and manage the hospital beds, care staff, and other medical services. The software system is enabled with real-time tracking of the in-patient records.

It has several useful tools for the administration to maintain the order among the hospital staff, doctors, and emergencies. The software is customizable and available in cloud-based and on-premise modes of delivery, thereby catering to the different requirements of the medical providers. It ensures the supply of medical essentials and management of the facility, insurance claims, pharmacy, diagnostics labs, and patients associated with the hospitals.

The COVID-19 pandemic boosted the market. The hospitals were overflowing with COVID-19 victims. This made healthcare providers build outdoor care facilities for quarantine. Healthcare providers also converted vacant building infrastructures into hospital facilities. The temporary care facilities needed critical care facilities and continuous patient monitoring, which increased the demand for hospital management systems.

The systems helped healthcare staff to manage accommodation and vacancy in the hospitals and quarantine centers. In the post-pandemic phase, governments across the globe are focused on strengthening their healthcare infrastructure to be ready for such pandemics, which boost the market significantly.

Impact of Artificial Intelligence (AI) in the Hospital Capacity Management Solutions Market

The use of artificial intelligence is likely to provide substantial propulsion to the hospital capacity management solutions market in the coming years. The rising trend of using the Internet of Things (IoT) in healthcare create lucrative opportunities for the market.

AI and machine learning algorithms incorporated in smart IoT devices technology help patients with mobility issues by recognizing intricate motion gestures and face detection, which enhances the real-time monitoring of patients. The association of AI with IoTs helps doctors make timely decisions, which is expected to drive the market during the forecast period.

Hospital Capacity Management Solutions Market Dynamics

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Major Drivers

Increasing advancements in global healthcare infrastructure are expected to drive the market during the forecast period. In the post-pandemic period, various governments were focused on strengthening their healthcare systems by inducing advanced technology and automation.

Hospital management systems (HMS) deliver modern care facilities by automating in-hospital workflows. These systems keep the caregivers and staff updated about the health status and patient discharge from hospitals to enhance hospital management. The rising trend of healthcare automation is expected to drive the market in the coming years.

Existing Restraints

High cost of healthcare information technology (HCIT) hinders the market. Setting up the capacity management system is expensive for newly emerging healthcare facilities. Their maintenance is costly and frequent, which is likely to hamper the market during the forecast period.

Emerging Opportunities

Increasing demand for healthcare automation is anticipated to provide substantial growth opportunities for the market in the coming years. Healthcare providers are required to manage multiple crucial tasks at the same time.

Integration of hospital capacity management systems helps hospital administration to manage in-patient management (IPDs), remote patient monitoring, out-patient department (OPDs), critical care, and accommodate patients. The increasing demand for real-time patient bed tracking systems is expected to create immense opportunities for the market players during the forecast period. For instance,

• On June 21, 2023, TeleTracking Technologies Inc. is in contract with Medway Hospital to develop a real-time electronic bed management and patient flow system. The system is expected to provide well-coordinated software that notifies the hospital staff with real-time bed visibility and availability.

Scope of the Hospital Capacity Management Solutions Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Hospital Capacity Management Solutions Market Segment Insights

Product Type Segment Analysis

Based on product type, the hospital capacity management solutions market is divided into bed management, assets management, patient flow management, and nurse scheduling. The assets management segment is expected to hold a major share during the forecast period, due to the rising demand for efficient healthcare operations from the care providers.

Managing assets is crucial for hospitals, as it helps them run routine activities such as surgeries, emergencies, and OPDs smoothly as well as maintain the stocks of medical essentials, pharmaceuticals, and surgical equipment, tracking expiries of medicines, and inventory. The growing need for minimizing manual error in the critical care field is expected to boost the segment in the coming years.

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Modality Segment Analysis

On the basis of modality, the global market is segregated into standalone solutions and integrated solutions. The integrated solutions segment is projected to register a high CAGR during the forecast period, as it offers increased productivity to the hospital staff by taking care of routine mundane tasks such as the management of OPD patient flow.  

For patients, the system helps gain access to all the information of necessary and related services to their diseases. This helps healthcare providers provide holistic care to the patients, which is anticipated to boost the segment during the forecast period.

Delivery Mode Segment Analysis

On the basis of delivery mode, the hospital capacity management solutions market is segmented into on-premise and cloud-based. The cloud-based segment is anticipated to register a robust growth rate during the forecast period, owing to the increasing demand for remote 24-hours patient care services across the globe.

After the COVID-19 pandemic, the medical industry has undergone a huge revolution. The industry received a rapid surge in the demand for remote patient monitoring. This further led to the rising popularity of mobile health (mHealth) platforms that let patients access immediate medical attention and connect to their doctors remotely. 

The cloud-based platforms are also useful for doctors, as they help keep an eye on their virtual patients. This helps them make timely decisions in case of emergencies. Increasing demand for remote patient monitoring across the globe is expected to drive the cloud-based segment during the projection period.

End-use Segment Analysis

Based on end-use, the market is divided into hospitals and ambulatory surgical centers. The hospital segment is expected to generate a major revenue share of the market, due to the established consumer trust in organizations. Hospitals are increasingly adopting digitalization and IoTs.

Technology and automation enhance the patient experience and streamline the workflow for healthcare professionals. Increasing technological advancements and increasing awareness of these advancements by hospitals are expected to drive the segment in the coming years.

Regional Outlook

In terms of region, the global hospital capacity management solutions market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the global market, owing to the well-established medical infrastructure in the region.

Healthcare providers in the region use advanced patient management solutions to manage huge volumes of patients and keep their real-time updates. The region has leading IT sector with advanced technologies that are being incorporated into healthcare, which further fuel the market in the region.  

The rising prevalence of chronic diseases is anticipated to widen the scope for the rapid growth of the market in the region. Countries such as the US and Canada have a majority of people with chronic diseases such as cardiovascular diseases, diabetes, hypertension, and cancer. For instance,

• According to the report published by the Centers for Disease Control and Prevention (CDC) on December 13, 2022, there are about 6 in 10 adults in the US are suffering from a chronic disease, where the healthcare expenditure of the country is about USD 4 Trillion each year.

Asia Pacific is expected to dominate the market during the projection period, due to the increasing government investments in building strong healthcare foundation in the region. Asia Pacific has developed economies such as Japan, South Korea, and Australia that offer patient care facilities that are powered by technology.

Developing economies such as India and China have progressive healthcare facilities. The players in the market are heavily investing in marketing to spread awareness regarding HCMSs, leveraging the hospitals with added efficiency and productivity. Furthermore, the increasing prevalence of life-threatening diseases among people residing in the region is likely to propel the market growth in the coming years.

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