Hospital Capacity Management Solutions Market Report: Trends & Future Outlook 2024

"The Business Research Company recently released a comprehensive report on the Global Hospital Capacity Management Solutions Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The hospital capacity management solutions market size has grown rapidly in recent years. It will grow from $3.46 billion in 2023 to $4.03 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to patient safety and quality care, improving healthcare infrastructure, real-time monitoring , financial pressures, focus on patient flow.

The hospital capacity management solutions market size is expected to see rapid growth in the next few years. It will grow to $7.44 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to digital transformation in healthcare, global health challenges, real-time monitoring and analytics, interoperability and integration. Major trends in the forecast period include remote monitoring and telehealth, data-driven decision making, predictive modeling and forecasting, collaborative care models.

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Market Drivers and Trends:

The rising prevalence of chronic diseases is expected to propel demand for hospital capacity management solutions market going forward. Chronic diseases refer to a type of long-term health condition that typically progresses slowly and persists over an extended period of time. Patients with chronic conditions require recurrent hospitalizations for treatments, monitoring, or exacerbations of their conditions. This can lead to fluctuations in the patient admissions, requiring hospitals to manage and optimize bed capacity effectively. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least 1 chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. . Therefore, the rising prevalence of chronic diseases is driving the growth of the hospital capacity management solutions market.

Technological advancement is a key trend gaining popularity in the connected hospital capacity management solutions market. Many companies operating in the hospital capacity management solutions sector are investing in real-time data to use it to its full potential. Such advancements enable key players to gain a competitive edge in the market. For instance, in October 2021, GE Healthcare, a US-based company that specializes in diagnostics, therapeutics, and monitoring through intelligent devices, partnered with Apprise Health Insights to launch an innovative application that actively handles hospital data and provides almost real-time occupancy statistics. This application allows hospitals to make the most of their resources and provides decision-makers with valuable data so that statewide capacity may be improved and hospitals can cooperatively manage resource limitations. Apprise Health Insights is an Oregon-based, trustworthy, and comprehensive source of hospital data.

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Major Key Players of the Market:

GE HealthCare Technologies Inc., Infosys Limited, TeleTracking Technologies Inc., McKesson Corporation, Alcidion Corp., Koninklijke Philips N.V., Epic Systems Corporation, NextGen Healthcare Inc., Stanley Black & Decker Inc., Care Logistic Inc., INFINITT Healthcare Co. Ltd., WellSky Corporation, Simul8 Corporation, Change Healthcare, HealthStream Inc., Allscripts Healthcare Solutions Inc., JVS Technologies Pvt Ltd., Cerner Corporation, Medworxx Solutions Inc., Optum Inc., Premier Inc., Nihon Kohden Corporation, Masimo Corporation, Baxter International Inc., Siemens Healthineers AG, Stryker Corporation, Terumo Corporation, Capsule Technologies Inc., ZOLL Medical Corporation, Vocera Communications Inc.

Hospital Capacity Management Solutions Market 2024 Key Insights:

• The hospital capacity management solutions market size is expected to see rapid growth in the next few years. It will grow to $7.44 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%.
• Fostering Growth In The Hospital Capacity Management Solutions Market
• Ge Healthcare's Pioneering Partnership Unleashes Real-Time Potential In Hospital Capacity Management Solutions
• North America was the largest region in the hospital capacity management solutions market in 2023

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