Objectives of the Study:
# To define, describe, and forecast the global hospital capacity management solutions market by product, component, mode of delivery, end-user, and region.
# To provide detailed information about the significant factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).
# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall hospital capacity management solutions market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
# To forecast the size of the hospital capacity management solutions market in five major regions along with their respective key countries (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
# To profile the key players in the global hospital capacity management solutions market and comprehensively analyze their core competencies and market shares.
# To track and analyze competitive developments such as product launches, expansions, and R&D activities of the leading players in the Hospital capacity management solutions market.
Revenue Growth Dynamics:
The global hospital capacity management solutions market is projected to reach USD 7.0 billion by 2026 from USD 3.2 billion in 2021, at a CAGR of 17.1% during the forecast period.
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Major Growth Driving Factors:
The growth in the market is mainly driven by factors such as the need for better capacity management in hospitals, need to curtail escalating healthcare costs, and the advantages of capacity management solutions in enhancing patient care and safety. Increasing patient volume due to the rising prevalence of chronic diseases and COVID-19 and the need to manage regulatory compliance through the effective utilization of capacity management solutions are further contributing to the growth of this market.
Market Size Estimation:
The total size of the hospital capacity management solutions market was arrived at after data triangulation from two different approaches, as mentioned below.
Approach to calculate the revenue of different players in the hospital capacity management solutions market
The size of the global hospital capacity management solutions market was obtained from annual reports, SEC filings, online publications, and extensive primary interviews. A percentage split was applied to arrive at the size of market segments. Further splits were applied to arrive at the size for each sub-segment. These percentage splits were validated by primary participants. The country-level market sizes obtained from the annual reports, SEC filings, online publications, and extensive primary interviews were added up to reach the total market size for regions. By adding up the market sizes for all the regions, the global hospital capacity management solutions market was derived.
Approach to derive the market size and estimate market growth
The market size and market growth were estimated through primary interviews on a regional and global level. All responses were collated, and a weighted average was taken to derive a probabilistic estimate of the market size and growth rate.
By end-user, the hospitals segment is expected to account for the largest share of the hospital capacity management solutions market
The government initiatives to enhance patient satisfaction and improve the quality of care, the growing patient volume, and the need to reduce the rising healthcare costs are the major factor driving the growth of hospitals segment.
Asia-Pacific is the fastest-growing market for hospital capacity management solutions market during the forecast period.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The high growth in this regional market can be attributed to the increasing government initiatives for eHealth, growing medical tourism, increasing need for management solutions due to the COVID-19 outbreak, and the increasing demand for quality healthcare
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Key Market Players:
The major players in the global hospital capacity management solutions market are Cerner Corporation (US), McKesson Corporation (US), HealthStream (US), Stanley Healthcare (US), and Halma plc (US). Other prominent players in this market include Infosys (India), Teletracking Technologies, Inc. (US), NextGen Healthcare (US), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), Sonitor Technologies (US), Koninklijke Philips N.V. (Netherlands), Neusoft Corporation (China), Infinitt Healthcare Co., Ltd. (South Korea), JVS Group (India), Infor Systems (US), Care Logistics (US), WellSky (US), Simul8 Corporation (US), and Alcidion Corporation (Australia).