The global hospital capacity management solutions (HCMS) market, valued at US$ 1.1 billion in 2023, is expected to experience steady growth, reaching US$ 1.9 billion by 2033. This growth is projected at a compound annual growth rate (CAGR) of 5.1% during the forecast period.
The healthcare industry is undergoing significant transformation due to rising innovation and advancements in documentation and automation, leading to more efficient systems for managing hospital resources. HCMS are playing a pivotal role in streamlining hospital operations, reducing patient readmissions, and minimizing medical errors. These systems help hospitals manage patient placement more effectively, ensuring that patients are placed in the correct care setting, thus optimizing capacity and resource utilization.
Furthermore, increasing government support for healthcare facilities and the growing adoption of digital health solutions are instrumental in controlling healthcare costs. Hospital capacity management solutions are increasingly critical in managing physical capacity, patient throughput, and frontline staff, making them an essential tool for hospitals aiming to improve operational efficiency while maintaining high-quality care.
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.
Advanced features driving adoption:
- User-friendly dashboards: These dashboards enhance time management and reduce errors, improving overall efficiency and user experience for healthcare professionals.
- Real-time data collection: Data collected through HCMS allows for immediate connection between patients and caregivers, leading to reduced hospital stays and improved patient outcomes.
- Cloud-based security: Cloud technology ensures secure data storage while providing convenient access for authorized personnel, addressing data privacy and security concerns.
Future outlook:
- Technological advancements: The development of user-friendly mobile applications, wider penetration of 5G services, and customized solutions for healthcare settings are expected to accelerate market growth.
- Automation: Automation of manual tasks in healthcare settings through HCMS will further increase efficiency and streamline operations.
- Growing demand: The rising patient pool due to chronic diseases, aging population, and increasing demand for surgeries will continue to drive the need for hospital capacity management solutions.
Competition Scenario
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).
Major Contributors of the Hospital Capacity Management Solutions Market are:
- Cerner Corporation
- Epic Systems Corporation
- TeleTracking Technologies, Inc.
- Sonitor Technologies, Inc.
- STANLEY Healthcare
- Allscripts
- McKesson Corporation
- Arcomed AG
- Koninklijke Philips N.V.
- JVS Group
- Infosys Limited
- Neusoft Corporation
- INFINITT Healthcare Co. Ltd
- AWAREPOINT CORPORATION
- Care Logistics LLC
A Full Report Overview
Key Segments
By Product:
- Workflow Management Solution
- Asset Management Solution
- Bed Management Solution
- Quality Patient Care Solution
- Real Time Locating System (RTLS)
- Event Driven Solutions
- Online Registration Solution
- Attendance Management Tools
- Event Driven Patient Tracking
- Others
By Application:
- Standalone Solutions
- Integrated Solutions
By Delivery Mode:
- On Premise
- Cloud-Based
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
