The global patient flow management solutions market size is estimated to be worth USD 2272.2 million by 2026 from USD 863.8 million in 2021, growing at a CAGR of 21.32% from 2021 to 2026.
The number of hospital admissions is rising, but the healthcare infrastructure is not keeping up, resulting in overcrowding and insufficient flow in the healthcare system. The movement of patients, information, or equipment across the organization, departments, or employees is referred to as flow in a patient care pathway. Overcrowding in the emergency room, increased waiting times, delayed procedures in the operating room schedule, a scarcity of ICUs and medical beds, overworked personnel, poor patient outcomes, and a greater likelihood of complications can result from inadequate patient outcomes flow management.
Healthcare organizations are increasingly implementing patient flow management technologies to control patient flow, decrease staff workload, and satisfy customer expectations. A patient flow management solution is system software that hospital workers use to keep track of patient information engaged in treatment. This solution combines statistical and analytical technologies for efficient workflow in a healthcare business. It primarily focuses on the following aspects: increased patient care quality, satisfaction, less paperwork, and enhanced communication between patients and hospital personnel. It also aids hospitals in making better use of their existing capacity. A patient flow management system has become vital for hospitals to simplify patient flow outcomes and cost management.
The high return on investment gained by implementing these solutions, the rising need for improved treatment quality, and an increasing focus on patient happiness are the primary factors driving the Patient Flow Management Solutions Market growth.
Patient flow management is expected to be caused by the growing pressure to reduce healthcare costs. For example, new laws such as Medicare's move to a value-based system through its Medicare Shared Savings Program (MSSP) and Value-Based Purchasing (VBP) schemes are putting the burden of rising healthcare expenses on providers. Patient flow management solutions in hospitals, clinics, and other healthcare facilities provide several benefits, including increased interaction between clinical staff and patients, patient-centered care, improved care quality, reduced waiting time and length of stay, improved patient satisfaction, and reduced paper processing. Also, the market is growing because of a shortage of physicians and nurses, the need for hospitals to save costs, and increased public knowledge about health care. Other factors driving market expansion include increased demand for cloud-based models, increased penetration, increased smartphone usage, product launches, and collaboration and partnerships among key players.
High ROI, an urgency to implement patient flow management solutions, and a lack of nursing personnel and doctors will all contribute to market growth. Patient flow management solutions have become vital for hospitals to simplify patient flow outcomes and use their current capacity. In addition, well-established healthcare infrastructure across the regional market is most likely to augment the market growth. An increase in the investment and funding by the government and private organizations in the Patient Flow Management Solution will encourage market growth. Additionally, favorable reimbursement programs in the United States influence regional market growth. Moreover, an increase in healthcare expenditure, and a rising need for improved quality of care, are further expected to propel the global patient flow management solutions market growth.
However, the rising prevalence of hacking, which leads to security breaches and large initial expenditures, a scarcity of trained personnel, and insufficient infrastructure to implement patient flow management systems, may limit the global patient flow management solutions market growth throughout the projected period.
Impact of COVID-19 on the global patient flow management solutions market:
The covid-19 is a contagious disease that was identified in Wuhan, China, in 2019. World healthcare organizations announced the covid-19 as the pandemic and emergence of healthcare systems. The rapid surge in the covid-19 has led to the nationwide lockdown and has affected the different sectors of the market. However, the pandemic outbreak has increased the demand for the patient flow management solutions market due to the rapid rise in covid-19 detected cases. In the recent period, due to the lockdown, the hospital segment has been faced a downfall. However, Patient Flow Management Solutions Market growth is high, ROI, an impetus to install patient flow management solutions, and shortage of nursing staff & doctors will increase the need for solutions. The demand for the market is growing at a significant growth rate during the forecast period.
Market Size Available
2020 to 2026
2021 to 2026
By Product, Type, Delivery Mode, Component, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
This research report on the global patient flow management solutions market has been segmented and sub-segmented into the following categories and analyzed market size and forecast until 2026.
Patient Flow Management Solutions Market - By Product:
Based on the product, the standalone segment dominated the patient flow management solutions market and is expected to grow during the forecast period.
On the other hand, the integrated systems segment is expected to significantly share in the market with an increased CAGR over the forecast period. The integrated system assists hospitals and clinics in planning and implementing activities in response to hospital conditions.
Patient Flow Management Solutions Market - By Type:
Based on the type, the event drive solutions segment led the market and accounted for the largest market revenue share of 92.5% of the global market during the previous years.
However, the Real-time locating systems are most likely to have the estimated CAGR share of 31.7% during the forecast period.
Patient Flow Management Solutions Market - By Delivery Mode:
The web-based solutions segment has had the largest market share over the forecast period based on delivery mode. The need to decrease the paperwork and time, a web-based management system is utilized to record patient appointments and store patient records. The Web-based solutions are Simple to use, Intuitive, intelligent, and integrated hospital Information systems.
Patient Flow Management Solutions Market - By Component:
The software segment accounted for the largest share of the patient flow management solutions systems market based on the component. The patient flow is a multi-step process involving a variety of stakeholders and tasks. Getinge's software solutions provide you with tools to improve consistency and efficiency, allowing hospital personnel to focus on providing the best possible care to patients. The market is growing due to nurses and healthcare staff shortages and improving healthcare quality at a minimal cost.
Patient Flow Management Solutions Market - By Region:
geographically, the North American market led the global patient flow management solutions market and accounted for the largest revenue share in 2020. However, the market is expected to continue its growth during the forecast period. The growth in the region is attributed to the growing healthcare expenditure, technological advancements, and supportive funding and training initiatives. In the regional market, the countries the United States and Canada are majorly contributing the market growth. The United States witnessed adopting a patient-centric approach by healthcare providers, and the rising need for cost limitation measures is propelling the country's market growth.
Europe record a significant share in the patient flow management solutions market during the previous year. Government impetus to HCIT and patient flow management in the European countries is augmenting the market growth. To manage patient flow efficiently, NHS hospitals across Europe are implementing new technology such as computerized bed management systems. The United Kingdom has witnessed rapid growth in the region. The Institute for Healthcare Improvement has worked with more than 60 hospitals in the UK and the US to examine variables that impact patients' smooth and timely movement through hospital departments and enhance and implement patient flow management strategies.
In the next five years, Asia is expected to have strong growth rates in the worldwide patient flow management system market, with China and India being the fastest-growing markets in the region. The growing adoption of the patient-centric approach in the healthcare providers in the region and the technological advancements are encouraging regional market growth. The patient flow management market in the Asia Pacific is expected to increase during the projected period due to a shortage of qualified workers in the healthcare sector. China, Japan, and India are major contributors in the region. Due to rising patient turnover, rising outpatient satisfaction, and shorter wait times, China is likely to lead the market in the Asia Pacific region. The Indian patient flow management solutions market is anticipated to witness the highest market share in the region over the forecast period owing to the increase in the usage of smartphones and cloud-based models and support from the government through investments.
KEY MARKET PARTICIPANTS:
Some of the noteworthy companies operating in the global patient flow management solution market profiled in the report are Central Logic, Inc. (U.S.), Medworxx Solutions, Inc. (Canada), STANLEY Healthcare (U.S.), Awarepoint Corporation (U.S.), Care Logistics, LLC (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Cerner Corporation (U.S.), McKesson Corporation (U.S.), TeleTracking Technologies, Inc. (U.S.), Intelligent InSites, Inc. (U.S.), Sonitor Technologies, Inc. (U.S.) and Epic Systems.
RECENT MARKET DEVELOPMENTS:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2.2 Event-Driven Patient Tracking
5.2.3 Real-Time Locating Systems
5.2.4 Y-o-Y Growth Analysis, By Type
5.2.5 Market Attractiveness Analysis, By Type
5.2.6 Market Share Analysis, By Type
5.3 Delivery Mode
5.3.5 Y-o-Y Growth Analysis, By Delivery Mode
5.3.6 Market Attractiveness Analysis, By Delivery Mode
5.3.7 Market Share Analysis, By Delivery Mode
126.96.36.199 Consulting Services
188.8.131.52 Ongoing It Support & Implementation Services
184.108.40.206 Post-Sale & Maintenance Services
5.4.5 Y-o-Y Growth Analysis, By Component
5.4.6 Market Attractiveness Analysis, By Component
5.4.7 Market Share Analysis, By Component
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By Type
126.96.36.199 By Delivery Mode
188.8.131.52 By Component
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
18.104.22.168 By Type
22.214.171.124 By Delivery Mode
126.96.36.199 By Component
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
220.127.116.11 By Type
18.104.22.168 By Delivery Mode
22.214.171.124 By Component
6.2 North America
6.2.2 United States
6.4.6 South Korea
6.5 Latin America
6.5.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Teletracking Technologies Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Care Logistics Llc
8.3 Awarepoint Corporation
8.4 Sonitor Technologies
8.5 Stanley Healthcare (Stanley Black & Decker, Inc.)
8.6 Medworxx Solutions, Inc.
8.7 Central Logic, Inc.
8.8 Mckesson Corporation
8.9 Cerner Corporation
8.10 Allscripts Healthcare Solutions, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, Collaborations, and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures