The bed management solution is the core operational activity especially in hospitals and healthcare centers. It involves constant monitoring hospital admissions, discharge of patients as well as the patient movement within the hospitals to gather and analyze bed availability across the hospital.
Europe hospital capacity management solutions market is estimated to account for US$ 276.6 Mn in terms of value in 2019 and is expected to reach US$ 435.7 Mn by the end of 2027.
Europe Hospital Capacity Management Solutions Market: Drivers
Increasing prevalence of chronic diseases is expected to lead to high number of hospitalization, thereby aiding growth of Europe hospital capacity management solutions market. For instance, according to the International Diabetes Federation, 59,322,100 suffered from diabetes in Europe in 2019, and the number is expected to reach 68,121,400 in 2045.
Europe Hospital Capacity Management Solutions Market: Opportunities
Use of predictive analytics to better predict availability of beds is expected to offer lucrative growth opportunities for players in the market. Predictive analytics improves operational efficiency and effectiveness and improves the bottom line for hospitals.
Europe Hospital Capacity Management Solutions Market: Restraints
High cost of installation and equipment and dearth of skilled healthcare professionals in developing and under developed countries are some of the factors that are expected to hinder growth of Europe hospital capacity management solutions market.
Real Time Locating System segment in Europe hospital capacity management solutions market was valued at US$ 96.2 Mn in 2018 and is expected to reach US$ 171.3 Mn by 2027 at a CAGR of 5.6% during the forecast period. Real tine locating systems provide allows tracking of people or things in real time. In case of effective hospital management, real time locating systems can help in assuring safety of the healthcare facility, satisfaction of staff, and quality of the care provided to patients, and in turn increasing bottom line which is expected to support growth of the segment over the forecast period.
The bed management solution segment accounted for US$ 50.1 Mn in 2018, and is expected to reach US$ 81.2 Mn by 2027. Bed management solution helps in better management of bed allocation, and can effectively help in serving patients. Moreover, bed management softwares can help in providing all the details of a patient from admission till discharge.
U.K. held dominant position in Europe hospital capacity management solutions market in 2018, accounting for 20.9% share in terms of value, followed by Germany, and France respectively.
Increasing prevalence of diseases and subsequent hospitalizations is expected to support growth of the U.K. hospital capacity management solutions market over the forecast period. As patient flow increases, hospitals would require better solutions to optimize resources, and improve medical care which is expected to spur hospitals to employ hospital capacity management solutions. For instance, according to National Health Service (NHS), 2019, approximately 17.1 Mn finished admission episodes were recorded in 2018 – 2019 in UK.
Major players in the market are focused on expanding their services. For instance, in June 2018, CenTrak announced the transfer of select assets of Awarepoint to its subsidiary Clinical Patents LLC (CPLLC) in order to expand CenTrak’s market-leading IoT Location and Sensing services with the addition of Bluetooth Low Energy (BLE) sensor technology.
Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in August 2018, Care Logistics announced a new suite of services available to hospitals and health systems that enable those hospitals to make improvements in patient flow and operations.
Europe Hospital Capacity Management Solutions Market: Competitive Landscape
Major players operating in Europe hospital capacity management solutions market include, Awarepoint Corporation, Allscripts Healthcare Solutions, Inc., Cerner Corporation, McKesson Corporation, Epic Systems Corp., TeleTracking Technologies, Inc., Central Logic, Inc., Sonitor Technologies, Inc., and STANLEY Healthcare Solutions Limited.
Europe Hospital Capacity Management Solutions Market: Key Developments