Patient Flow Management Solutions Market Share-Industry Analysis, Business Revenue, Size, Leading Competitors And Growth Trends
Patient Flow Management Solutions Market Share 2022-Industry Analysis, Business Revenue, Size, Leading Competitors And Growth Tren
The patient flow management solutions market is projected to reach US$ 3,621.51 Million by 2028 from US$ 886.43 Million in 2021; it is expected to grow at a CAGR of 22.3% during 2021-2028.
The market's growth is attributed to some key driving factors such as rising adoption of patient-centric approach, rising numbers of start-ups, and shortage of nursing staff and doctors are driving the growth of the global patient flow management solutions market. However, the shortage of skilled IT technicians and risks of cyber threats are hampering the market growth.
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List of TOP KEY PLAYERS in Prosopagnosia Treatment Market Report are -
Epic Systems Corporation
TeleTracking Technologies Inc
Allscripts Healthcare, LLC
Sonitor Technologies AS
ABOUT Healthcare, Inc.
Scope of the Patient Flow Management Solutions Market Market Report:
This study estimates the market size in terms of both value (millions of dollars) and volume (millions of units) (K Units). Both top-down and bottom-up techniques were used to estimate and validate the market size of the Patient Flow Management Solutions Market market, as well as the size of various other dependent submarkets in the overall market. To identify important market participants, secondary research was utilized, and primary and secondary research was employed to determine their market shares. All percentage share splits and breakdowns were calculated using secondary sources and verified sources.
Patient-centric care is a healthcare system that establishes a partnership among practitioners and patients to ensure that important decisions support patients' demands and needs. Wireless technologies have been built around the hospital environments through which patients and providers can manage personalized data. Smartphones are essential to change health-related behavior and manage hospital schedules. Internet-based tools also make healthcare practices easy and manageable by collecting healthcare information and offering services to enlighten patients about concerned physicists and provide details about their availability and appointment scheduling. Due to the availability of a wide variety of applications and easy access to them, many people have started using these tools to eliminate waiting time and get convenient appointments.
Commonly faced problems by hospitals, such as clinical mistakes, queues, delays, under and overcapacity utilization, patient acceptance in inappropriate settings, variability of workload, and stress for hospital staff are often related to poor patient flow management. Thus, shifting the approach from self-referential designs to a patient-centric and convenient approach promotes the patient flow management solutions market growth.
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Patient flow monitoring helps reduce wait time, provides insight, promotes on-demand services, and organizes versatile medical record keeping. A holistic virtual care platform based on patient flow data and unique devices designed for healthcare practitioners and patients allows them to have strategic plans to deploy required services across hospitals. More organizations are entering this market with the increasing adoption of patient flow management solutions in the healthcare sector. For instance, EmOpti, a US-based startup founded in 2015, offers a telehealth platform that is interoperable with patient electronic health records (EHR). The company offers an EmOpti Requestor consisting of a nurse device and a patient device. The company's hardware and software empower nurses to manage fluctuating patient volumes efficiently. Similarly, Tracworx, an Irish startup founded in 2016, provides real-time patient tracking software that aims to deliver reliable data on every stage of treatment. The business offers a wearable wrist device that records patients' locations and sends data to the cloud for automated analysis, allowing hospitals to save money and time spent on patient tracking. As a result, the entry of start-ups in patient management solutions supports market expansion. Therefore, the factors mentioned above are driving the demand for patient flow management solutions.
North America held the largest market share for the patient flow management solutions market in 2021. The US held the largest market in North America for patient flow management solutions. The market is expected to grow due to the rising adoption of a patient-centric approach by healthcare providers and the shortage of nursing staff and doctors. Increase in demand for patient flow management solutions in hospitals and clinics in the US and increasing healthcare funding dedicated towards the development of IT-based solutions for healthcare characterize the growth in North America
Regional Analysis of the Patient Flow Management Solutions Market Market:
The global Patient Flow Management Solutions Market Market research report details the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the Market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors.
➛ North America (United States, Canada, and Mexico)
➛ Europe (Germany, France, UK, Russia, and Italy)
➛ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
➛ South America (Brazil, Argentina, Colombia, etc.)
➛ Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Shortage of Nursing Staff and Doctors
The US is facing a severe shortage of physicians and nursing staff due to a surge in the aging population and impending retirements of older physicians. According to the Association of American Medical Colleges (AAMC), the US is expected to face a shortage of 120,000 physicians by 2030. According to the Global Strategy on Human Resources for Health Workforce 2030 forecasts, the global collective shortage of physicians, nurses, and midwives could reach 9.9 million by 2030. According to an article published in IndiaSpen, India has 1.7 nurses per 1,000 people, 43% lesser than the World Health Organization standard (3 per 1,000). Moreover, there were approximately 3.07 million registered nursing personnel in India in 2020. According to World Bank Group figures for 2017, there was 1 doctor for 550 people and 1 nurse for 425 people in China. Such shortage conditions translate into increased for patients, higher possibilities of mistakes, and lack of personal attention.
The limitations of manual patient flow management include the increasing difficulty of decision-making and the rising complexity of processes with the growth in hospital size. Moreover, decisions are not recorded in any system; knowledge sharing only relies on human interactions. Thus, shifting from manual scheduling and dispatching to automated patient flow management workflow offers solutions to the rising shortage of nursing staff and physicians worldwide and boosts the growth of the patient flow management solutions market
The patient flow management solutions market based on product is segmented into integrated and standalone. In 2021, the standalone segment accounted for a higher market share due to higher adoption in small and medium-size healthcare organizations prefer standalone platforms to improve the quality and efficiency of patient flow management. However, the integrated segment is expected to grow at a CAGR of 23.0% in the forecast period due to the rising needs of a large population of patients and reducing or minimizing the costs associated.
What insights does the Patient Flow Management Solutions Market Market report provide to the readers?
➜ Patient Flow Management Solutions Market fragmentation on the basis of product type, end-use, and region
➜ Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape
➜ Collaborations, R&D projects, acquisitions, and product launches of each Patient Flow Management Solutions Market player
➜ Various regulations imposed by the governments on the consumption of Patient Flow Management Solutions Market in detail
➜ Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global Patient Flow Management Solutions Market Market.
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Patient Flow Management Market - By Product
1.3.2 Global Patient Flow Management Market - By Type
1.3.3 Global Patient Flow Management Market - By Component
1.3.4 Global Patient Flow Management Market - By Delivery Mode
1.3.5 Global Patient Flow Management Market - By Geography
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Patient Flow Management Market - Market Landscape
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South & Central America PEST Analysis
4.3 Experts Opinion
5. Patient Flow Management Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Rising Adoption of Patient-Centric Approach
5.1.2 Shortage of Nursing Staff and Doctors
5.1.3 Rising Number of Start-Ups
5.2 Market Restraints
5.2.1 Shortage of Skilled IT Technicians
5.2.2 Risk of Cyber Threats
5.3 Market Opportunities
5.3.1 Increasing Use of Smartphones, Tablets, and Pads in Healthcare
5.4 Future Trends
5.4.1 Acceptance of Mobile Health Technology
5.5 Impact analysis
6. Patient Flow Management Market- Global Analysis
6.1 Global Patient Flow Management Market Revenue Forecast and Analysis
6.2 Global Patient Flow Management Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Patient Flow Management Market Analysis - By Product
7.2 Patient Flow Management Market, By Product, 2021 & 2028 (%)
7.3.2 Integrated: Patient Flow Management Market Revenue and Forecasts to 2028 (US$ Million)
7.4.2 Standalone: Patient Flow Management Market Revenue and Forecasts to 2028 (US$ Million)
8. Patient Flow Management Market Analysis - By Type
8.2 Patient Flow Management Market, By Type, 2021 & 2028 (%)
8.3 Real-Time Locating Systems
8.3.2 Real Time Locating System: Patient Flow Management Market Revenue and Forecasts to 2028 (US$ Million)
8.4 Event-Driven Patient Tracking
8.4.2 Event-Driven Patient Tracking Market: Patient Flow Management Market Revenue and Forecasts to 2028 (US$ Million)
9. Patient Flow Management Market Analysis - By Component
9.2 Patient Flow Management Market, By Component, 2021 & 2028 (%)
9.3.2 Software: Patient Flow Management Market Revenue and Forecasts To 2028 (US$ Million)
9.4.2 Hardware: Patient Flow Management Market Revenue and Forecasts to 2028 (US$ Million)
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