The “Global Patient Throughput & Capacity Management Market, by Product Type (Workflow Management Solutions, Asset Management Solutions, Bed Management Solutions, Quality Patient Care Solutions, Real Time Locating System (RTLS) and Event Driven Solutions (Online Registration Solution, Attendance Management Tool, Event Driven Patient Tracking and Others)), by Solution Type (Standalone Solution and Integrated Solution), by Delivery Mode (On premise and Cloud based) and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 1422.7 million by 2027, witnessing a CAGR of 5.0 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
Patient throughput or flow is the movement of patient through healthcare facilities. It is comprised of physical resources, medical care, and internal systems that are required to proceed patients from the admission point to the discharge point and maintain the quality and patient/customer satisfaction at the same time. Moreover, Capacity management is the practice of ensuring business enhances its potential activities and production output at all times under any circumstances. The capacity management helps in assessing how much companies can produce, achieve or sell within a time period. Capacity management deals with the regulation of performance engineering during the requirements and design activities of building systems. It also interacts during performance supervision as an input for managing the capacity of deployed systems.
The global patient throughput & capacity management market was valued at US$ 956.6 Mn in 2019, and is expected to grow at a CAGR of 5.0 % during the forecasted period (2019-27).
Reduced duration of hospital stay is a major factor expected to propel the global patient throughput & capacity management market growth during the forecast period
Patient throughput & capacity management solutions allow better and timely patient care and also reduce the duration of patient’s stay in hospital. Furthermore, it tacks patients’ clinical data and allocates the nearest nurse, doctor or caregiver to the patient, which ensures prompt care and faster recovery of the patient. Therefore, reduced hospital stay duration for patients is expected to drive growth of the global patient throughput capacity management market over the forecast period.
Increasing expenditure on healthcare facilities is expected to present major growth opportunities in the near future
Healthcare expenditure around the world is on the rise, which in turn, driving the demand for different types of healthcare services. Increasing number of patients have subsequently increased the revenue generation of hospitals. This makes it possible for hospital authorities to afford patient throughput and capacity management solutions. Moreover, patient throughput and capacity solutions facilitate hospitals to treat maximum number of patients effectively, utilizing existing resources. Therefore, increasing expenditure on healthcare facilities is expected to create lucrative growth opportunities over the forecast period.
Stringent healthcare sector regulations are expected to restrain growth of the global patient throughput & capacity management market over the forecast period
Healthcare providers are mandated to comply with numerous complex rules and regulations and observe strict guidelines to enhance the quality of care and reimbursement scenarios. Although such regulations are enforced to enhance the care and efficiency of healthcare providers, many providers see them as obstacles or find them impractical to apply. Therefore, strict regulatory policies in healthcare sector are expected to hinder the global patient throughput & capacity management market over the forecast period.
As hospitals are reducing the number of beds to cut down the expenses, the respective authority needs to use their resources effectively and efficiently. In such cases, patient throughput and capacity management solutions aid in reducing patient’s hospital stay duration and optimize occupancy levels of hospital beds. Moreover, patient throughput and capacity management solutions can increase the bed capacity by 5-12%, providing a good turnover on hospital’s assets. An increase in bed turnover per bed is expected to increase the adoption rate of patient throughput and capacity management solutions by hospitals. This trend is expected to continue during the forecast period.
Patient throughput and capacity management solutions are now gradually being adopted by hospitals in emerging economies. This is owing to advantages provided by these solutions such as efficient management and utilization of beds, caregivers, and other assets in hospitals. The major reason behind increased adoption of these solutions in emerging economies is increased expenditure on healthcare and increasing disposable income. Moreover, this trend is expected to continue in emerging economies such as China and India during the forecast period.
Key players involved in the global patient throughput & capacity management market are STANLEY Healthcare, Awarepoint Corporation, Sonitor Technologies, Inc., McKesson Corporation, Central Logic, CERNER CORPORATION, Care Logistics LLC, TeleTracking Technologies, Inc., and Allscripts.