Event driven Patient Tracking Market Highly Favorable to the Growth Rate by 2026

Patient tracking is a refined process intended to screen patient’s movements, outside conventional clinical settings such as clinics, hospitals, laboratories and diagnostic center. This increases the admission to care, and reduces cost of health care. Several health care providers have started adopting this method which has considerably pulled down the personal patient cost, condensed complications and upgraded quality of life of patients. The process of Event driven patient tracking frequently involves screening and preservation of patient’s medical records.

This can be done by entering the details of location of the patient manually, or by use of software like Remote Landing Site Tower (RLTS), Radio Frequency Identification (RFID), Global Positioning System (GPS) etc. and hardware components such as detectors, sensors, and others. The authorized person is only responsible for making the manual entries, which usually includes caregiver or a doctor, who makes entries as soon as the event occurs. Such hardware and software technology is used to track the patient location and trace their positions depending on their last known location. Initially, for event driven patient tracking process manual methods were adopted by healthcare providers, but shifting market scenario, increasing the focus on patient centric methodology, and rising financial and operational costs of hospitals, have shifted the trend towards sophisticated systems to monitor patients.

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The demand for capacity of bed is expected to rise by 2024, which is estimated to be a challenge for hospitals and other healthcare settings because increasing capacity of bed physically is not a feasible option. This is the main reason that healthcare settings are changing their focus in improving their capability to move patients through a treatment system, which is known as “throughput”. New technologies such as Global Positioning System (GPS), Radio Frequency Identification (RFID), Real Time Locating System (RTLS) and other technologies in event driven patient tracking systems, allow caregivers to perform efficiently by providing real-time information about the patient and refining the workflow. The technology adopted by major healthcare settings and hospitals is RTLS, whereas smaller clinics, hospitals, and diagnostic centers mainly choose for RFID, GPS, and other systems, owing to the fact that RTLS are comparatively more expensive that other technologies due to which affordability of this technology is a major issue for smaller healthcare set ups.

Global Event driven Patient Tracking Market has been segmented on the basis of product type, delivery mode, components and End User

Based on the product type, the global Event driven Patient Tracking Market is segmented into the following:

Stand-Alone Devices
Integrated Devices

Based on the delivery mode, the global Event driven Patient Tracking Market is segmented into the following:

Cloud-Based Delivery Solutions
Web-Based Delivery Solutions
Premises Based Delivery Solutions

Based on the components, the global Event driven Patient Tracking Market is segmented into the following:

Hardware Components
Software Components
Services

Based on the end user type, the global Event driven Patient Tracking Market is segmented into the following:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics

Geographically, North America holds the largest share of the event driven patient tracking systems market owing to the fact that advanced technologies, and increasing emphasis on improving patient flow combined with increased focus on reducing costs related to health care services are being practiced. Asia Pacific market is expected to grow at a robust CAGR, during the forecast period from 2016-2024, owing to increasing gap between supply and demand of health care services, large population base, technological advancements in web based services and cloud computing, and high scope of adoption of event driven patient tracking systems owing to large unorganized patient flow management.

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Some of the key players in global Event driven Patient Tracking Market includes Cerner Corporation, Sonitor Technologies, Allscripts, TeleTracking Technologies, Inc., Centrallogic Medworxx, McKesson Corporation, Epic Systems and others.

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