Europe Hospital Capacity Management Solutions Market to Find Better Growth with US$ 435.7 Million By 2027 | CAGR: 5.6%: Coherent Market Insights

Impact Analysis of Covid-19

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The bed management solution is the primary operational activity that are performed in hospitals and healthcare centers. It involves constant monitoring hospital admissions, discharge of patients, coupled with the patient movement within the hospitals to gather and analyze bed availability across the hospital.

Europe hospital capacity management solutions market is expected to be valued at US$ 276.6 Mn, in 2019, in terms of value and is expected to reach US$ 435.7 Mn by the end of 2027.

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Europe Hospital Capacity Management Solutions Market: Drivers

The growth of the Europe hospital capacity management solutions market is attributed to increasing prevalence of chronic diseases that further leads to increasing number of hospital admissions. 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 

Moreover, adoption of predictive analytics to estimate availability of beds in a better way is expected to offer lucrative growth opportunities for players in the market. Predictive analytics enhances operational efficiency and effectiveness, and also improves the bottom line for hospitals.

Europe Hospital Capacity Management Solutions Market: Restraints

However, high cost of installation and equipment coupled with lack of skilled healthcare professionals in emerging and under developed countries are the major factors that are expected to hamper growth of the Europe hospital capacity management solutions market over the forecast period.

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Key Takeaways:

On the basis of product type, real time locating system segment was valued at US$ 96.2 Mn in 2018 and is expected to reach US$ 171.3 Mn by 2027, and is expected to exhibit a CAGR of 5.6% over the forecast period. Real tine locating systems allows tracking of people or things in real time. In case of effective hospital management, real time locating systems aids 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 are expected to drive growth of the segment over the forecast period.

Moreover, bed management solution segment, among product type accounted for US$ 50.1 Mn market share in 2018, and is expected to reach US$ 81.2 Mn by 2027. Bed management solution aids in better management of bed allocation, and can effectively help in serving patients. Moreover, bed management software can help in providing all the details of a patient from admission till discharge.

Additionally, U.K. held a dominant position in Europe hospital capacity management solutions market in 2018, accounting for 20.9% market share in terms of value, followed by Germany, and France respectively. The growth of the U.K. market is attributed to increasing prevalence of diseases and subsequent hospitalizations, 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, around 17.1 Mn finished admission episodes were recorded in 2018-2019 in the U.K.

Market Trends

Key players operating in the market are focused on expanding their services. For instance, in June 2018, CenTrak announced to transfer 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 and strengthen their position in the global market. 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

Key players operating in the 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 

• January 2020: Cerner Corporation announced to present at the 38th Annual J.P. Morgan Healthcare Conference in San Francisco
• July 2019: B. Braun Medical Inc. integrated its Space Infusion Pump Systems with TeleTracking Technologies, Inc.’s RTLS Asset Tracking solution

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Segmentation

• By Product Type
  • Workflow Management Solution
    • Stand-alone
    • Integrated
    • On-Premise
    • Cloud Based
  • Asset Management Solution
    • Stand-alone
    • Integrated
    • On-Premise
    • Cloud Based
  • Bed Management Solution
    • Stand-alone
    • Integrated
    • On-Premise
    • Cloud Based
  • Real Time Locating System
    • Stand-alone
    • Integrated
    • On-Premise
    • Cloud Based
  • Quality Patient Care Solution
    • Stand-alone
    • Integrated
    • On-Premise
    • Cloud Based
  • Event Driven Solutions
    • Stand-alone
    • Integrated
    • On-Premise
    • Cloud Based
    • Online Registration Solution
    • Attendance Management Tools
    • Event-Driven Patient Tracking
    • Others

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