The hospital capacity management solutions market is anticipated to expand its boundaries at an average CAGR of 5.1% during the forecast period. As a result, the market holds a share of USD 1.1 billion in 2023 while expecting revenue of USD 1.9 Billion by 2033.
The rising innovation in the healthcare sector, along with advanced documentation and automation, is changing the dynamics of the healthcare system. The increased requirement for sustainable and organized solutions is limiting and minimizing patient readmissions and medical errors. The HCMS systems reduce the healthcare cost and systemize the sufficient capacity by preventing incorrect placement of patients.
In addition, the increased government support for healthcare facilities, along with digital health solutions, is controlling the rising cost of healthcare. From physical capacity and patient throughput to frontline staff is fueling the sales of hospital capacity management solutions.
The issues related to data privacy and security enable the requirement for hospital capacity management solutions, including IoT-enabled devices being used for patient-generated data. Data collectors and hackers can be prevented through a multi-layered security system. Covid-19 has triggered the demand for hospital capacity management solutions. The factors controlling the dearth of hospital beds, difficulty maintaining adequate staffing, and lack of oxygen cylinders help in hospital capacity management solutions.
The advanced, user-friendly dashboards ensure better time management and error reduction are helping the end users. Furthermore, reduced hospital stay owing to immediate connectivity with the nearest nurse or caregiver due to data collection is increasing dependency on hospital capacity management solutions. In addition, a rise in the patient pool of children and the geriatric population across the globe has increased the demand for integrating technology in the healthcare sector. This, in turn, is contributing to the growth of hospitality capacity management solutions.
| Attributes | Details |
|---|---|
| Hospital Capacity Management Solutions Market CAGR (2023 to 2033) | 5.1% |
| Hospital Capacity Management Solutions Market Size (2023) | USD 1.1 billion |
| Hospital Capacity Management Solutions Market Size (2033) | USD 1.9 billion |
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Complex requirements, lack of awareness, and high cost are the key factors restraining the market growth over the forecast period.
HCMS are popular in developed countries but not in developing and underdeveloped countries owing to the high-cost factor. Secondly, late delivery of results is also expected to act as a restraint for market growth. Furthermore, the HCMS market is expected to be challenged throughout the forecast period by a lack of awareness.
Healthcare providers must adhere to numerous complex rules and regulations and follow stringent guidelines to improve the quality of care and reimbursement scenarios. Although such regulations are implemented to improve the care and efficiency of healthcare providers, many providers see them as obstacles or impractical to apply. Hence, these regulations are expected to hamper the growth of the global hospital capacity management solutions market over the forecast period.
In addition, HCMS manages complex requirements to forecast capacity and resource demands based on historical data. These factors are expected to act as restraints to the growth of the HCMS throughout the forecast period.
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The development of technological applications and easy-to-use mobile applications is changing the dynamics of hospital capacity management solutions. In addition, most healthcare sectors use cloud-based applications to keep data secure. This helps maintain the confidentiality of patients and offers easy access to healthcare professionals only.
Furthermore, the penetration of 5G services and customized solutions that will specifically suit healthcare settings are expected to drive the growth of hospital capacity management solutions. In the upcoming years, most manual tasks in healthcare settings are expected to become automatic through the help of technology. This, in turn, will increase the use of hospital capacity management solutions.
Hospital capacity management solutions enable better and more timely patient care and reduce the length of a patient’s hospital stay. HCMS tracks patients’ clinical data and assigns the nearest nurse, doctor, or caregiver to the patients for timely care so that the patients can be discharged earlier. As a result, the reduced hospital stay is expected to fuel demand for HCMS during the forecast period.
The increasing patient pool in hospitals for chronic diseases, the rapid rise in the elderly population, the increasing demand for mobile hospital management solutions, and the rising volume of surgical procedures carried out across the world are the primary factors boosting the development of the hospital capacity management solutions market.
Moreover, the increasing unmet need for workflow management systems and growing demand for end-to-end hospital solutions in developing markets offer high growth opportunities for several players in this market.
The hospital capacity management solutions market holds nearly 6.9% market value share of the USD 15 Billion hospital information system market in 2021. In addition, the rapid growth of technologies and chronic disorders and the emerging trend of hospital automation is surging the adoption of hospital management solutions. This is expected to lead to rapid growth in the hospital capacity management solutions market.
Driven by this, hospital capacity management solutions are expected to rise at a 4.9% CAGR through 2030.
| Region | Absolute Market Growth |
|---|---|
| The USA | USD 304.4 Million |
| The United Kingdom | USD 39.7 Million |
| China | USD 57.8 Million |
| Japan | USD 22.4 Million |
| South Korea | USD 16.5 Million |
A Large Number of Hospitals along with the Higher Penetration of Automation fuels the Demand for Capacity Management Solutions.
| Region | Attributes |
|---|---|
| The USA Market CAGR (2023 to 2033) | 5.1% |
| The USA Market Absolute Doller Growth (USD Million/Billion) | USD 304.4 million |
The USA is estimated to account for around 85.6% of the North American hospital capacity management solutions market in 2022. The dominant share of the USA can mainly be owing to the increasing hospital infrastructure for chronic diseases, rising geriatric population, rising prevalence of chronic diseases, and the availability of several large hospitals in the country where hospital capacity management solutions are highly adopted. The market is estimated to hold a share of USD 777.4 Million by 2033.
Chronic diseases increased hospital stay time and delayed recovery, ultimately driving the demand for hospital capacity management solutions. The newest 2019 report published by the National Health Council has reported that chronic diseases affect around 133 Million Americans, signifying over 42% of the total population in the USA It was projected by the same report that about 157 Million Americans might have chronic conditions by 2020, with 81 million suffering from multiple conditions.
Additionally, factors such as government funding for hospital automation and adequate reimbursement policies for hospitalized patients are expected to drive market growth in the USA.
The Advent of AI and IoT in Hospital Capacity Management Solutions propels Market Growth in South Korea.
| Region | Attributes |
|---|---|
| South Korea Market CAGR (2023 to 2033) | 7.0% |
| South Korea Market Absolute Doller Growth (USD million/billion) | USD 16.5 Million |
In 2023, South Korea is extending its perfect environment for digital health programs, where it is rapidly automating the healthcare structure. Digital health in the fight against covid-19 in South Korea is helping the expansion of hospital capacity management solutions. The user-friendly dashboard, along with the segregation options, helps the sales of the hospital capacity management solutions. The market is expected to reach a value of USD 33.7 Million by 2033.
| Region | Attributes |
|---|---|
| China Market CAGR (2023 to 2033) | 6.6% |
| China Market Absolute Doller Growth (USD million/billion) | 57.8 Million |
The hospital capacity management solutions market is likely to reach a value of USD 122.2 Million by 2033.
In highly populated countries like China, there is a need for a hospital bed every second per patient. Due to the high population, a more patient pool is seen. So, in such a situation, there is a demand for a reduced hospital stay of patients in order to reduce the emergency department waiting time. All these factors can drive demand in the Chinese market.
HCMS analyzes and predicts bed vacancies at the emergency department (ED) and thereby reduces wait time by 35-50%. HCMS tracks patients’ clinical data and assigns the nearest nurse, doctor, or caregiver to the patients for timely care so that the patients can be discharged earlier. Reduced hospital stay is a factor expected to fuel demand for HCMS during the forecast period in China.
Demand for hospital capacity management solutions in India is expected to rise at around 6.7% CAGR over the forecast period. This is mostly owing to the region's tremendous growth in chronic conditions, as well as the rapidly increasing healthcare centers and huge populous economy. In a developing country like India, the HCMS market is expected to grow with the need for hospital automation as the number of patients increases and the need for aligning resources and patient care.
Moreover, the increased disposable income of the population, increased government spending to offer better healthcare facilities, and a spike in the adoption of technologically sophisticated items in the region are all contributing to the region's market expansion.
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| Segment | Top Product Type |
|---|---|
| Top Sub-segment | Real-Time Locating System (RTLS) |
| CAGR (2017 to 2022) | 4.7% |
| CAGR (2023 to 2033) | 5.4% |
| Segment | Top Delivery Mode |
|---|---|
| Top Sub-segment | Cloud-Based |
| CAGR (2017 to 2022) | 3.6% |
| CAGR (2023 to 2033) | 4.8% |
By Product, the real-time locating system (RTLS) is anticipated to hold the maximum share of 34.4% in 2022, expanding at a rate of nearly 5.4% between 2023 and 2033.
A real-time locating system (RTLS) is a useful tool that maximizes the use of resources by tracking patients and assets. RTLS delivers forecasts about the level of occupancy during different periods of time. HCMS are based on highly sophisticated, accurate, and flexible models that analyze the impact of admission and discharge scenarios, bed occupancy levels, managerial activities, and policy changes in hospitals or regions. Due to their growing popularity and demand, this segment takes the highest share.
By delivery mode, the cloud-based segment is anticipated to hold the maximum share of 58.5% in 2022, expanding at a rapid rate of 4.8% CAGR between 2023 and 2033.
Cloud-based solutions are beneficial for maintaining electronic medical records (EMR), such as digital outputs from magnetic resonance imaging (MRI) scanners, bedside monitors, and others. The growing need for point-of-care access to medical records and the increase in digitization of medical records are the major factors expected to boom the demand for cloud-based solutions.
Revenues in the paints and coatings segment are estimated to grow by 3.3% year over year rate in 2021. Meanwhile, the demand in the cleaning agents segment increased at 3.8% CAGR between 2020 and 2021.
Besides this, the application of biocides in water treatment to remove undesired microorganisms and pathogens and treat wastewater will continue increasing through the forecast period.
Companies operating in the hospital capacity management solutions market are fragmented by nature, with a presence of few players. These players are involved in a number of strategic alliances. The agreement and system automation accelerate the manufacturer’s strategy to capitalize on the market share and capture a significant share of the market.
Latest Developments:
In Nov 2021, Allscripts introduced Next Level Urgent Care to improve connectivity, provide better electronic health record (EHR) workflows and greatly advance analytics to all its locations.
In Dec 2021, McKesson Corporation made an agreement to sell its Austrian business to Quadrifolia Management GmbH (Quadrifolia).
The United States market generates higher demand in the global market.
North America market is expected to show maximum revenue growth through 2033.
Real-time locating system segment is the preferred segment, expanding at a CAGR of 5.4% through 2033.
The cloud-based segment holds a maximum share progressing at a 4.8% CAGR through 2033.
From 2018 to 2022, the global market exhibited a 4.2% CAGR.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Workflow Management Solution 5.2. Asset Management Solution 5.3. Bed Management Solution 5.4. Quality Patient Care Solution 5.5. Real Time Locating System 5.6. Event Driven Solutions 5.6.1. Online Registration Solution 5.6.2. Attendance Management Tools 5.6.3. Event-Driven Patient Tracking 5.6.4. Others 6. Global Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application 6.1. Standalone Solutions 6.2. Integrated Solutions 7. Global Analysis 2017 to 2022 and Forecast 2023 to 2033, By Delivery Mode 7.1. On-Premise 7.2. Cloud-Based 8. Global Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 9. North America Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Cerner Corporation 18.2. Epic Systems Corporation 18.3. TeleTracking Technologies, Inc. 18.4. Sonitor Technologies, Inc. 18.5. STANLEY Healthcare 18.6. Allscripts 18.7. McKesson Corporation 18.8. Arcomed AG 18.9. Koninklijke Philips N.V. 18.10. JVS Group 18.11. Infosys Limited 18.12. Neusoft Corporation 18.13. INFINITT Healthcare Co. Ltd 18.14. AWAREPOINT CORPORATION 18.15. Care Logistics LLC 19. Assumptions & Acronyms Used 20. Research Methodology
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Hospital Capacity Management Solutions Market
