An Incisive, In-depth Analysis on the Hospital Capacity Management Solutions Market
This study offers a comprehensive, 360 degree analysis on the Hospital Capacity Management Solutions market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Hospital Capacity Management Solutions market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Hospital capacity management solutions are used to manage patient flow in hospitals. Hospital capacity management solutions help track patient’s clinical data and assign the nearest nurse, doctor or caregiver to patients for timely care, thus ensuring their earlier recovery or treatment and discharge. In most developed countries, hospital capacity management solutions are widely preferred to manage hospital assets and patients. Hospitals need to maximise use of resources in order to provide better care and generate more revenue. Hospital capacity management solutions analyse and predict bed occupancy at the Emergency Department (ED), thereby reducing wait time by 35–50%.
Market Value and Forecast
The global hospital capacity management solutions market is anticipated to register a CAGR of 5.0% during the forecast period in terms of revenue. Growth of the global hospital capacity management solutions market is mainly driven by increasing number of in-patients and need for greater efficiency to manage patient flow in hospitals. Moreover, growing trends in the market include increasing adoption of integrated solutions in the hospitals.
Drivers and Restraint
Hospitals capacity management solutions are being extensively adopted by hospitals since these enable efficient management and utilisation of beds, caregivers and other assets. These solutions are used widely in hospitals in developed countries, but not as much in developing countries, owing to high price points. However, rising expenditure on healthcare and disposable income is propelling adoption of these solutions in countries such as India, China and Brazil. Increasing number of patients undergoing surgeries, reduction in the number of beds in hospitals, greater efficiency of hospital capacity management solutions over conventional approach and technological advancements are factors expected to result in further growth of the hospital capacity management solutions market over the forecast period. Despite the fact that the hospital capacity management solutions help maximise bed occupancy, patient flow is indeterminate and totally event driven. It is possible that, at times, demand forecast could differ from the real scenario, thereby resulting in lower or higher demand for beds and healthcare services. These factors are expected to negatively impact the market during the forecast period.
Segmentation, by Product Type
The global hospitals capacity management solutions market is segmented on the basis of product type into workflow management solution, asset management solution, bed management solution, quality patient care solution, real-time locating system and event driven solutions. The real-time locating system segment is expected to dominate the global hospital capacity management solutions market and is projected to witness 1.7x increase in its revenue over the forecast period. The workflow management solution segment is projected to witness a healthy CAGR of 4.9% during the forecast period. The real-time locating system segment has been estimated to hold 34.1% revenue share of the global hospital capacity management solutions market by the end of 2015.
Segmentation, by Application
The global hospitals capacity management solutions market is segmented on the basis of application into standalone solutions and integrated solutions. Of all the segments, the integrated solutions segment is expected to register the fastest CAGR over the forecast period.
Segmentation by Delivery Mode
The global hospitals capacity management solutions market is segmented on the basis of delivery mode into on premise and cloud-based solutions. Of all the segments, the cloud-based segment has been estimated to dominate the global hospitals capacity management solutions market by 2015 end, and this trend is expected to continue over the forecast period as well.
In this report, the global hospitals capacity management solutions market has been segmented into seven major regions, which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa. The North America market dominated the overall global hospitals capacity management solutions market with over 55% share in 2014, while the Western Europe followed with over 19% market share.
Major players in the hospital capacity management solutions market include Awarepoint Corporation, Allscripts Healthcare Solutions, Inc., Care Logistics, LLC, McKesson Corporation, Central Logic, STANLEY Healthcare, Sonitor Technologies, Inc., TeleTracking Technologies, Inc., Cerner Corporation and Epic Systems Corporation. In 2015, the Awarepoint Corporation signed an agreement with Bluewater Health to install its Real-Time Locating Systems (RTLS) for asset tracking, clinical workflow, and way finding. The hospital capacity management solutions market is expected to witness launch of various new customised solutions over the forecast period.
This Future Market Insights report examines the ‘Hospital Capacity Management Solutions Market’ for the period 2015-2025. The primary objective of the report is to offer updates and in-depth analysis of market opportunities in the global hospital capacity management solutions market.
Hospital capacity management solutions enable better and timely care of patients and consequently reduce the length of patient’s hospital stay. Hospitals need to maximize use of resources in order to provide better care and generate more revenue. These solutions are available in different modules such as real-time location tracker, assets and bed management, and patient flow tracker. Technological advancements and addition of user-friendly features are likely to further boost growth of the hospital capacity management solutions market in the near future. Hospital capacity management solution enables better and timely care of patients and consequently reduces the length of a patient’s hospital stay. Reduced hospital stay is a factor expected to fuel demand for hospital capacity management solutions during the forecast period. Hospital capacity management solutions improve care delivery and provide real-time visibility of patients’ status and location, which further enables prompt communication between hospital staff and patient’s family. Hospital capacity management providers have developed user-friendly dashboards for improved time management and error reduction.
The report offers global market forecast in terms of value for the next 10 years. Products covered in the report include:
- 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
To understand and assess the opportunities in this market, the report is categorically split into four sections: by product type, application, delivery mode and region.
The report analyses the global hospital capacity management solutions market in terms of market value (US$ Mn).
On the basis of application, the global hospital capacity management solutions market is segmented into:
- Standalone Solutions
- Integrated Solutions
The next section of the report analyses the market based on delivery mode segments and presents the forecast in terms value for the next 10 years. Delivery mode segments covered in the report include:
- On Premise
The next section of the report analyses the market on the basis of region and presents the forecast in terms of value for the following 10 years. Regions covered in the report are:
- Rest of Latin America
- Rest of Western Europe
- Rest of Eastern Europe
Asia Pacific Excluding Japan (APEJ)
- Australia & New Zealand
- Rest of APEJ
Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
To arrive at the market size, the report considers average price of hospital capacity management solutions across geographies. The forecast presented here assesses the total revenue of the global hospital capacity management solutions market. When developing the forecast for the market, the starting point is sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the characteristics, we triangulated the outcome on the basis of analysis based on supply side and demand side. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
In addition, we have taken into consideration year-on-year growth to understand the predictability of the market and identify the right opportunities across the hospital capacity management solutions market.
As previously highlighted, the market for hospital capacity management solutions is split into various categories on the basis of region, products, applications and delivery mode segments. All these segments have been analysed in terms of basis point (BPS) to understand individual segments relative contribution to growth. This detailed level of information is important for identification of the various key trends in the hospital capacity management solutions market.
Another key feature of this report is the analysis of hospital capacity management solutions market by region, delivery mode and applications and its revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective.
Furthermore, Future Market Insights has developed market attractiveness index for all four segments: regional, product type, application and delivery mode segments. This index helps in identifying the real opportunities in the market.
In the final section of the report, hospital capacity management solutions market landscape is included to provide report audiences with a dashboard view on the basis of categories of providers across the market, presence in hospital capacity management solutions, product portfolio and key differentiators. Key market participants covered in the report are:
- Awarepoint Corporation
- Allscripts Healthcare Solutions, Inc.
- Care Logistics, LLC
- McKesson Corporation
- Central Logic
- STANLEY Healthcare
- Sonitor Technologies, Inc.
- TeleTracking Technologies, Inc.
- Cerner Corporation
- Epic Systems Corporation.