Hospital Capacity Management Solutions Market Size Worth $16,980.74 Million By 2032 | CAGR: 17.0%

The global hospital capacity management solutions (HCMS) market size is expected to reach USD 16,980.74 million by 2032, according to a new study by Polaris Market Research. The report “Hospital Capacity Management Solutions Market Share, Size, Trends, Industry Analysis Report, By Product (Asset Management, Patient Flow Management Solutions, Workforce Management, Quality Patient Care), By Mode of Delivery, By Component, By End-Use, By Regions, Segments & Forecast, 2019 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The hospital Capacity Management Solutions Market (HCMS) is projected to grow at the fastest rate over the forecasted period owing to the rising need to optimize the escalating healthcare costs, better capacity management in healthcare institutions, and the advantages of capacity managing solutions in improving patients' safety and care.

Other factors supporting the market include faster adoption of IoT technology in private healthcare services, increasing patient pools in hospitals for chronic diseases, and demand for mobile hospital management solutions. 

Hospital Capacity Management Solutions are devices that are designed to assist healthcare facilities in efficiently managing patient services and optimizing other operations. It also empowers hospital executives, clinical staff, and administrators with real-time hospital asset tracking and can forecast the levels over a range of periods of 4, 8, 12, 24, and 72 hours.

The Increasing expenditure on healthcare services in the last few years has remained as one of the most vital factors for healthcare institutions. For instance, according to American Medical Association, the health care spending in the U.S. has increased by 9.7% in 2022 to $4.1 trillion or $12,350 per capita.

Among the spending, the top three categories that received the most attention are hospital care (30.8%), physician services (14.4%), and prescription drugs (8.4%). The rising government expenditure towards improving healthcare facilities, coupled with the rising out-of-pocket expenditure of patients, has compelled several private healthcare institutions to establish their business units across the globe.

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Various inhibiting factors for the hospital capacity management solutions market can be expected to its higher establishment cost along with the substantial recurring cost to maintain and upgrade the software from time to time. The need for training and upskilling the hospital personnel to operate the system has further increased the ownership costs of the system. Further, the potential risk related to patient data security and privacy while using IoT-based technology also remained a challenge to tackle in the coming period.

Hospital Capacity Management Solutions Market Report Highlights:

• The market witnessed an overall positive demand in the covid-19 pandemic days. The period was characterized by overcrowded hospitals, shortage of hospital beds and physicians, lack of oxygen cylinders, difficulty maintaining adequate staffing and supporting staff, and depletion of essential medical supplies and logistic support.
• The asset management segment is projected to account for a major market share in 2022 owing to its provided benefits, including enabling the hospital staff, and patients in using the assets whenever needed by keeping track of their location.
• The workforce management segment is expected to witness promising growth opportunities in the coming years, with increasing demand for efficient workforce management to reduce cost and improve productivity and a rising number of public and private hospitals.
• The software segment is expected to dominate the hospital capacity management solutions market in 2022. The underlying factors supporting the growth include the rising adoption of computer-based tools, telemedicine services, digital health apps, and increased digitalization.
• The private hospital segment is expected to witness a rapid CAGR in the forecast period, supported by the increasing number of private medical institutions driven by shifting towards better healthcare facilities provided by private players.
• North America region accounted for the largest market share in 2022 due to rising chronic disease patients in the U.S. and the presence of major healthcare players including Center Corporation, NextGen Healthcare, Simul8 Corporation, McKesson Corporation, Allscripts Healthcare Solutions, and more.
• The Asia Pacific market is expected to grow rapidly during the forecast period owing to favorable government initiatives to reduce healthcare-associated costs and increase disposable income in the last few years.

Polaris Market Research has segmented the Hospital Capacity Management Solutions Market report based on product, mode of delivery, component, end-use, and region:

Hospital Capacity Management Solutions Market, Product Outlook (Revenue - USD Million, 2019 - 2032)

• Asset Management

• Medical Equipment Management
• Bed Management

• Patient Flow Management Solutions
• Workforce Management

• Nursing & Staff Scheduling Solutions
• Leave and Absence Management

• Quality Patient Care

Hospital Capacity Management Solutions Market, Mode of Delivery Outlook (Revenue - USD Million, 2019 - 2032)

• On-Premise
• Cloud-Based

Hospital Capacity Management Solutions Market, Component Outlook (Revenue - USD Million, 2019- 2032)

• Software
• Services

Hospital Capacity Management Solutions Market, End-Use Outlook (Revenue - USD Million, 2019- 2032)

• Hospitals
  • Private Hospitals
  • State Owned Hospitals
  • Community Hospitals
• Ambulatory Surgical Centers
• Others

Hospital Capacity Management Solutions Market, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa