Global Hospital Capacity Management Systems Market, by Product Type (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 Modality (Standalone Solutions, Integrated Solutions), By Delivery Mode (On Premise, Cloud-Based), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,256.5 Million in 2023 and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players in the market are focusing on the adoption of organic growth strategies, such as product launches to expand their product portfolio, which is expected to drive market growth over the forecast period. For instance, in October 2020, Health Outcomes Worldwide, a software solution company, announced that they had launched the how2trak Surgical Site Infection Surveillance application, which enables surgeons and their teams to monitor their patients remotely to catch early warning signs of infection post-discharge.
Global Hospital Capacity Management Systems Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global Hospital Capacity Management Systems market. For instance, in March 2020, Medtronic, a medical device company, announced that they had launched a COVID-19 surveillance application for assessing, monitoring, and triaging people concerned about COVID-19 and potential symptoms. The program assists patients in tracking their respiratory infectious disease symptoms and body temperature with daily health checks.
Global Hospital Capacity Management Systems Market: Key Developments
Increasing inorganic growth stratigies such as partnership by key market players in order to expand their product porfolio is expected to aid in the growth of the global Hospital Capacity Management Systems market. For instance, in May 2020, Stanley Healthcare, a healthcare solution provider, and Cisco Systems, Inc., a technology company, partnered to bring Stanley Healthcare’s product AeroScout, a Real-time Location System (RTLS) platform to healthcare industries the AeroScout platform provides enterprise-wide visibility into the location and status of assets and people in In healthcare facilities.
Browse 34 Market Data Tables and 32 Figures spread through 160 Pages and in-depth TOC on “Global Hospital Capacity Management Systems Market”- Forecast to 2030, Global Hospital Capacity Management Systems Market, by Product Type (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 Modality (Standalone Solutions, Integrated Solutions), By Delivery Mode (On Premise, Cloud-Based), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Hospital Capacity Management Systems Market:
- The global Hospital Capacity Management Systems market is expected to exhibit a CAGR of 5.4% during the forecast period due to the increasing product lauch by key market players. For instance, in July 2020, Advantech Co., Ltd., a computer manufacturing company, announced the launch of its real-time location system (RTLS) solution-ready package (SRP) designed for real-time locating and monitoring of medical equipment, staff, and patients.
- Among product type, workflow management solution segment is estimated to hold a dominant position in the global Hospital Capacity Management Systems market over the forecast period. For instance, Modulim, a medical equipment manufacturing company, announced the launch of Magnifi, a software solution designed to permit clinicians with remote access to data insights and scalability to enhance clinical workflow across enterprises.
- Among region, North America is expected to be the dominant region in the global Hospital Capacity Management Systems market, owing to increasing technological advancement by key market players, to expand the product portfolio and strengthen their market presence, which is expected to drive the segment growth over the forecast period. For instance, in November 2022, Wolters Kluwer N.V., a software solution company, announced that it had expanded the Sentri7 suite of clinical surveillance tools to include Sentri7 Sepsis Monitor. Sentri7 is a web-based platform that aggregates, monitors, and delivers patient data in real-time from disparate hospital information systems to assist providers in delivering optimum patient care.
- Major players operating in the global Hospital Capacity Management Systems market include Baxter, BD, STERIS, Getinge AB, Medtronic, Koninklijke Philips N.V., Abbott, Medexter Healthcare, Asolva, GOJO Industries, Inc., Wolters Kluwer N.V., VigiLanz Corporation, RLDatix, Roper Technologies Inc., Health Outcomes Worldwide, OpGen, Inc., Urovant Sciences, and Premier
