As Per the Report, the Size of the Patient Flow Management Solution Market in Latin America was valued at USD 67.24 Million in 2022 and is poised to reach USD 184.34 Million by 2027, at a CAGR of 22.35% during the forecast period 2022 to 2027.
The patient flow management solutions market in Latin America is growing in demand attributed to reducing overcrowding, reducing the patient wait for treatment in hospitals, and improving hospital efficacy are expected to drive market growth. In addition, the increasing burden of chronic disease and the increase in the elderly population are driving the adoption of patient flow management solutions.
According to the American Diabetes Association, there are 1.45 million new cases of diabetes each year. According to a national health survey, diabetes in Mexico is approximately 1.5%. Still, this number reflects only the youth of the Mexican population and not the elderly population and undiagnosed cases. The increasing prevalence of diabetes has risen from 8.5% to 9.8%, while obesity from 14.7% to 18.8% and low physical activity from 48% to 58%, between 2009 and 20015. Among recent studies, the prevalence of diabetes in Argentina was reported at 15 % in 2006 and 18% in 20012.
In addition, the growing demand for high-quality patient care, the adoption of patient-centered medical records and mobile health devices, and the ever-increasing need to cut costs by reducing labor costs and human error are other factors expected to drive the growth of the target market further. Furthermore, the demand is mainly driven by changes in health services to improve patient satisfaction for better disease management.
These factors, along with increased capital investment by the private sector, lead to a paradigm shift from government hospitals to private hospitals in Latin America. Currently, Brazil has many government-run and privately owned hospitals, among other Latin American countries. In addition, the increasing number of hospitals and hospitalization rate and the lack of qualified healthcare professionals are other factors expected to drive the growth of the target market during the projected period.
Factors such as changing government policies to promote health services, changing lifestyles, and increasing per capita healthcare spending have led to an innovative patient flow management system and created an opportunistic space for service providers. As a result of these factors, the Latin American patient flow management solutions market has the potential to grow.
On the other hand, data storage security against unauthorized access to medical records is a significant concern. In addition, the lack of trained IT professionals and knowledge of these systems are also holding back the market's growth.
This research report on the Latin America Patient Flow Management Solution Market has been segmented and sub-segmented into the following categories
By Product:
By Type:
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By Country:
Geographically, Brazil patient flow management solutions market was anticipated to dominate the Latin American market with a market share of 35%. This regional market is expected to dominate during the analysis period as well. Regional hospitals need to increase capacity by reducing wait time for admission and accessible early discharge. It has been reported that hospitals using patient flow management solutions have been seen to improve the quality of their care by tracking the flow of patients from admission to discharge, improving patient satisfaction.
Argentina patient flow management solutions market is estimated to grow at a high CAGR in the Latin America patient management solutions market, with a recorded CAGR rate of 19% in 2020. The rise of the regional market growth can be attributed to the adoption of mobile healthcare and the EHR, the growing popularity of digitalization in the medical sector, and the increasing investment by large companies for private hospitals. FDM Software is responsible for records management, dispatch system, analysis solutions, and mapping for public safety in Latin America. In addition, increased awareness and public spending in the health sector are expected to accelerate market growth further.
KEY MARKET PLAYERS
Noteworthy Companies leading the Latin America Patient Flow Management Solution Market Profiled in the Report are Central Logic, Inc, Medworxx Solutions, Inc, STANLEY Healthcare, Awarepoint Corporation, Care Logistics, LLC, Allscripts Healthcare Solutions, Inc, Cerner Corporation, McKesson Corporation, TeleTracking Technologies, Inc, Intelligent InSites, Inc, Sonitor Technologies, Inc, Epic Systems.,
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