Hospital Bed Management Systems Market Size is valued at USD 1.86 Bn in 2022 and is predicted to reach USD 4.18 Bn by the year 2031 at a 9.5% CAGR during the forecast period for 2023-2031.
Hospital bed management systems are software and technology solutions that help healthcare facilities optimize the allocation and administration of hospital beds and other resources. These systems serve a crucial role in augmenting patient care, promoting operational efficiency, and ensuring healthcare providers' ability to successfully satisfy patient needs.
The primary factors responsible for market expansion are the rising occurrence of chronic and infectious diseases, the increasing geriatric population, and the increasing adoption of real-time bed management in hospitals. Furthermore, rising awareness of hospital-friendly and user-friendly software for smooth bed allotment operations, as well as an increase in the number of hospitals and clinics, are driving market expansion. As a result, there will be an increased need for hospital bed management systems in the near future. Furthermore, the hospital bed management system provides real-time information on bed availability with color codes and assists hospital staff in managing the growing number of patient admissions.
However, the COVID-19 pandemic has shown to be an unmatched global public health issue, affecting practically every industry and is projected to impact every industry's growth during the forecast period. Around the world, there have been several shifts in customer demand and behaviour, purchasing patterns, supply chain redirection, and significant government interventions.
Competitive Landscape
Some Major Key Players In The Hospital Bed Management Systems Market:
- Oracle
- Epic Systems Corporation
- GE Healthcare
- Veradigm LLC
- CentralSquare Technologies
- Advanced-Data Systems
- Terawe Corp
- Lyngsoe Systems A/S
- The Access Group
- EMIS Health
- TeleTracking Technologies, Inc.
- SAP
Market Segmentation:
The Hospital Bed Management Systems Market is segmented based on type and deployment. Based on type, the market is segmented as Acute Care Beds, Critical Care Bed, Long-term Care Bed, and Others. The deployment segment includes Cloud & Web Based and On-premises.
Based On Type, The Acute Care Bed Segment Is Accounted As A Major Contributor In The Hospital Bed Management Systems Market.
The Acute Care Bed category is expected to hold a major share in the global Hospital Bed Management Systems Market in 2022. The increase is attributed to an increase in acute care admissions for one to three days at healthcare facilities. Acute care beds serve the purpose of diagnosing, treating, and providing treatment for patients who present with a diverse array of symptoms, injuries, and diseases.
The presence of a significant number of acute care hospitals, as well as an increasing elderly population, are predicted to raise demand for acute care beds. Furthermore, prominent market participants are providing acute care beds with smart technology to improve patient comfort and safety and assist active mobilization and patient outcomes. For example, LINET provides the Eleganza 2 motorized hospital bed with a modern design for high-quality care. Such services are expected to drive the segment's expansion.
Cloud & Web Based Segment To Witness Growth At A Rapid Rate.
The segment, Cloud & Web is projected to grow rapidly in the global Hospital Bed Management Systems Market. The increased adoption of cloud solutions in clinics to improve efficacy and lower costs is related to the growth. Cloud solutions provide scalability, allowing healthcare organizations to effortlessly change or grow their software usage based on their needs. This flexibility enables them to better handle a growing hospital demand and serve a huge patient pool without considerable infrastructure investments. In addition, cloud computing allows for real-time data sharing, data modification, security, storage flexibility, and dependability. These factors contribute to the increasing popularity and demand for cloud-based hospital management systems, enabling healthcare organizations to streamline operations, improve patient care, and optimize resource utilization.
In The Region, The North America Hospital Bed Management Systems Market Holds A Significant Revenue Share.
The North America Hospital Bed Management Systems Market is expected to record the maximum market share in revenue in the near future. This is due to the rapid acceptance of technologically advanced products. Factors such as well-established infrastructure, widespread implementation of hospital bed management systems, and the presence of key market competitors in the region are driving regional expansion.
The Asia Pacific area is expected to increase significantly during the projection period. End-user awareness of computerized maintenance management systems (CMMS) is developing, opening up new market prospects. Furthermore, several governments are spending heavily on cloud and related healthcare technologies to support digital transformation, potentially increasing the Asia Pacific market.
Recent Developments:
- In June 2023, Medway NHS Foundation Trust has partnered with TeleTracking UK to implement its new Care Co-ordination Centre, a centralised bed management and patient flow system. Underpinned by TeleTracking's operational electronic bed management platform, the Centre will give a dedicated team of nursing professionals and bed placement specialists real-time bed status visibility at Medway Maritime Hospital, the Trust's Gillingham-based hospital site that serves over 424,000 Kent and Medway residents.
Hospital Bed Management Systems Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1.86 Bn |
|
Revenue Forecast In 2031 |
USD 4.18 Bn |
|
Growth Rate CAGR |
CAGR of 9.5 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Deployment |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Oracle; Epic Systems Corporation; GE Healthcare; Veradigm LLC;CentralSquare Technologies; Advanced Data Systems; Terawe Corp; Lyngsoe Systems A/S; The Access Group; EMIS Health; TeleTracking Technologies, Inc.; SAP |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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