Albany, NY -- (SBWIRE) -- 04/13/2021 -- Patient flow management solutions are used to track the movement of patients, information, or flow of equipment between organizations. These solutions use real-time data inputs combined with analytical and statistical software to design an efficient work flow. Patient flow management solutions enable hospitals and clinics and other departments to manage patient reception, routing, and queuing. It provides interaction management tools along with appointment scheduling options. The adoption of patient flow management solutions in hospitals, clinics, and other health care facilities offers a range of advantages, including increased interaction between clinical staff and patients focus on patient-centered care, enhanced care quality, reduction in waiting time and patients' length of stay, enhanced patient satisfaction, and decrease in paper processing.
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The primary factors driving the growth of the market include high return of investment achieved by the adoption of these solutions, high demand for enhanced quality of care, and growth in focus on patient satisfaction. In addition, the shortage of doctors and nursing staff, growing awareness about health care, and the need of hospitals to reduce costs contribute to the market growth. Further, factors such as growing demand for cloud-based models, increasing penetration, and growing usage of smartphones, along with increasing product launches and collaboration and partnerships among market players propel the growth of the market. However, the growing rate of hacking leading to security breaches, high initial investments, lack of skilled professionals, and inadequate infrastructure to adopt patient flow management solutions might restraint the market growth during the forecast period.
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The global market for patient flow management solutions can be segmented on the basis of product, component, type, delivery mode, end-user, and region. On the basis of product, the market can be segmented into real-time locating system and event driven solution. In terms of component, the market can be segmented into hardware, software, and services. On the basis of type, the market is divided into integrated solutions and standalone solutions. The integrated solutions segment is projected to drive the market growth. On the basis of delivery mode, the market is segmented into on-premises, cloud, and web based. The cloud-based segment is anticipated to record a significant growth rate during the forecast period owing to the growing adoption of these solutions. By end-user, the market is categorized into hospitals, clinics, and others.
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Geographically, the global market can be segmented into five regions, including North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America was the leading market for patient flow management solutions and is anticipated to continue to be the highest revenue contributor during the forecast period. This high revenue share of the region can be attributed to the growing adoption of health care IT, well-established infrastructure, government funding for the adoption of patient flow management solutions, and technological innovations. Europe is likely to be the second leading market in terms of revenue contribution. Asia Pacific is anticipated to record a significant CAGR during the forecast period with China and India being the fastest growing countries, owing to the increasing awareness among people, huge patient pool, growing health care spending, government focus on enhancing health care facilities, and focus on improving the efficiency of hospitals.
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The leading players operating in the market include Medworxx Solutions, Inc., Cerner Corporation, Mckesson Corporation, Stanley Healthcare, Teletracking Technologies, Inc., Awarepoint Corporation, Getinge Group, Sonitor Technologies, Inc., Central Logic, Inc., Allscripts Healthcare Solutions, Inc., Guard RFID Solutions Inc., Care Logistics LLC, Intelligent Insites, Inc., and Epic Systems Corporation.
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