Europe Hospital Capacity Management Solutions Market – Boosting Demand and Growth Potential In The Future
SEATTLE, May 05, 2021, (PHARMIWEB) —
Europe Hospital Capacity Management Solutions Market
In hospitals and healthcare facilities, the bed management solution is the most important operating practice. It entails continuously tracking hospital arrivals, patient discharges, and patient activity inside hospitals in order to collect and assess bed capacity around the hospital.
The valuation of the Europe hospital capacity management solutions market is projected to be worth US$ 276.6 million in 2019 and US$ 435.7 million by the end of 2027.
The rising incidence of chronic diseases is estimated to result in an increase in hospitalizations, boosting the demand for Europe hospital capacity management solutions market. As per the International Diabetes Federation, 59,322,100 people in Europe had diabetes in 2019, with the figure forecast to rise to 68,121,400 by 2045.
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The use of predictive analytics to accurately forecast bed supply is projected to provide attractive growth prospects for market participants. Predictive analytics helps hospitals increase their organizational performance and profitability, as well as their bottom line.
High installation and equipment costs, as well as a scarcity of qualified healthcare personnel in developing and underdeveloped countries, are projected to stymie growth of the Europe hospital capacity management solutions market.
The Real Time Locating System segment of the Europe hospital capacity management solutions market was worth US$ 96.2 million in 2018, and is projected to grow at a CAGR of 5.6 percent to US$ 171.3 million by 2027. Real-time location systems enable individuals or objects to be tracked in real time. Real-time locating systems can aid in ensuring the safety of the healthcare facility, staff satisfaction, and the quality of care provided to patients, resulting in an increase in the bottom line, which is expected to support segment growth during the forecast period.
The bed management solution market was worth $50.1 million in 2018, which is projected to grow to $81.2 million by 2027. The bed management solution aids in better bed distribution and can successfully assist in patient care.
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Moreover, bed monitoring software can aid in the provision of all patient data from admission to discharge. In terms of size, the U.K. dominated the European hospital capacity management solutions market in 2018, with a 20.9 percent share, led by Germany and France.
During the forecast period, the growth of the Europe hospital capacity management solutions market is projected to be aided by rising epidemic incidence and associated hospitalizations in the U.K. Hospitals will need new ways to maximize services and enhance medical service as patient traffic improves, which is likely to drive hospitals to use hospital capacity management solutions. As per the NHS (National Health Service), nearly 17.1 million completed admission episodes were registered in the U.K. in 2018–2019.
The key players in the market are concentrating on improving their offerings. In June 2018, CenTrak announced the transition of select Awarepoint properties to its subsidiary Clinical Patents LLC (CPLLC) in order to bring BLE (Bluetooth Low Energy) sensor technology to CenTrak’s market-leading IoT Location and Sensing services.
Major market players are now concentrating on releasing new products in order to broaden their product range. In August 2018, Care Logistics unveiled a new package of services for hospitals and health systems that would enable them to optimize patient flow and operations.
Key companies contributing in the Europe hospital capacity management solutions market are Epic Systems Corp., McKesson Corporation, Allscripts Healthcare Solutions, Inc., Awarepoint Corporation, STANLEY Healthcare Solutions Limited, Sonitor Technologies, Inc., Cerner Corporation, Inc., Central Logic, and TeleTracking Technologies, Inc.
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