Hospital Capacity Management Solutions Market Driven by Adoption of RTLS: Future Market Insights Study

Hospital capacity management solutions enables executives, administrators, and clinical staff working in hospitals to more effectively manage capacity and tracking. When it comes to planning and tracking, it brings about improved resource planning and utilization which ups efficiency and productivity. It also brings about visibility and forecast through improved tracking and metrics. Award winning market research firm Future Market Insight’s recent report on the hospital capacity management solutions market establishes that the market is slated to reach a value of US$ 994 Mn by 2020-end.

Expansion of patient care due to high incidences of chronic and infectious diseases has compelled hospitals to invest heavily in streamlining their operations. In recent years, rapid technological advancements have made it possible to integrate artificial intelligence to enhance healthcare. Adoption of hospital capacity management solutions has ushered in a smooth workflow by reducing maintenance downtime and yielding significant cost savings.

Investments in real time location systems (RTLS) and cloud-based monitoring solutions are on the rise across hospitals worldwide. A host of advantages such as improvements in patient flow, faster room turnover, throughput optimization and automated occupancy and discharge are driving increased adoption of RTLS systems across healthcare settings. It also facilitates effective asset management.

The ongoing coronavirus pandemic has only accelerated the need for hospital capacity management solutions. The pandemic has burgeoned demand for point-of-care access to medical records, upscaling the need to implement cloud based solutions in the upcoming forecast period. Furthermore, demand for wireless monitoring devices has ascended, enabling doctors to prescribe effective treatment to the infected patients without the need to come in direct contact.

“Saturation of operations and an overburdened staff have pushed healthcare providers to allocate their funds towards procuring advanced capacity management solutions. They are therefore collaborating with software behemoths to provide effective cloud-based hospital capacity management solutions,” concludes an FMI analyst.

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Key Takeaways from FMI’s Hospital Capacity Management Solutions Report

• Manufacturers are emphasizing on integrated management solutions to facilitate multiple supervisory operations simultaneously
• More than 30% of the hospital capacity management solutions needs are met by RTLS, attributed to the utilization of system-based crisis response and emergency management
• North America and Europe collectively enjoyed 70% of the global hospital capacity management market revenue in 2019 while developing countries are seen as potential future investment hubs
• Global hospital capacity management solutions market is slated to expand at a CAGR of 5% between 2020 and 2030

Hospital Capacity Management Solutions Market- Key Trends

• Mushrooming demand for enhanced healthcare facilities in the wake of rapidly evolving health complications is providing traction to hospital capacity management solutions since a long time
• Implementation of technologically advanced hospital capacity management solutions is being advocated by governments, setting aside a major chunk of their budgets in streamlining hospital care
• Hospitals are collaborating with leading software and IT companies to design and implement state-of-the-art capacity management solutions, thereby spurring high investment inflow

Hospital Capacity Management Solutions Market- Region-wise Analysis

• Increasing adoption of e-health solutions, demand for reduction in labor costs and waiting time for patients is driving capacity management solutions across hospitals in North America and Europe
• Brazil, India, China and South Africa are expected to experience a massive upsurge in the adoption of hospital capacity management solutions. Increase in ICT spending and high patient pool are the key drivers

Hospital Capacity Management Solutions Market- Competitive Landscape

A number of players have penetrated the hospital capacity management market landscape over the past few years. In this study, these players have been profiled according to their regional prominence.

In the Americas, the prominent players include STANLEY Healthcare, Sonitor Technologies Inc., Cerner Corporation, Epic Systems Corporation and TeleTracking Technologies, Inc. among others. The European landscape is dominated by two main players: Koninklijke Philips N.V and Acromed AG while the Asia-Pacific landscape contains Neusoft Corporation, JVS Group, INFINITT Healthcare Co Ltd and Infosys Limited.

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All these players primarily focus on acquiring greater market shares by virtue of organic growth strategies such as expansion of product portfolios in the software sector. For instance, in May 2020, STANLEY Healthcare announced the incorporation of the Aero Scout RTLS certified by Cisco DNA Spaces.

In March 2020, Neusoft Medical Systems established a robust cloud-enabled platform in collaboration with the Kenyatta National Hospital in Nairobi to provide proper diagnosis to COVID-19 patients.

Hospital Capacity Management Solutions Market Taxonomy

Product Type

• Workflow Management Solutions
• Asset Management Solutions
• Bed Management Solutions
• Quality Patient Care Solutions
• Real Time Location Systems (RTLS)
• Event Driven Solutions
  • Online Registration Solutions
  • Attendance Management Tools
  • Event Driven Patient Tracking
  • Others

Application

• Standalone Solutions
• Integrated Solutions

Delivery Mode

• On Premise
• Cloud-based

Regions/Country

North America

• U.S
• Canada

Latin America

• Mexico
• Brazil
• Peru
• Others

Europe

• EU-5
• Nordic countries
• BENELUX
• Poland
• Russia

South Asia

• India
• ASEAN

East Asia

• China
• Japan

Oceania

• Australia
• New Zealand

Middle East & Africa

• GCC
• Southern Africa
• North Africa