Hospital Management Solutions Market size was valued at USD 30.70 Billion in 2021 and is projected to reach USD 62.17 Billion by 2027
In-depth analysis and data-driven insights on the impact of COVID-19 included in this Global Hospital Management Solutions Market report. The hospital management solutions market size was valued at USD 30.
New York, Jan. 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Hospital Management Solutions Market – Global Outlook & Forecast 2022-2027” – https://www.reportlinker.com/p06221893/?utm_source =GNW
70 billion in 2021 and is expected to reach USD 62.17 billion by 2027, growing at a CAGR of 12.48% during the forecast period
Automation of various hospital management services has played a vital role in increasing the adoption of hospital management systems. Web-based and cloud-based solutions have major advantages in terms of cost effectiveness, automated workflow, remote delivery of updates, and many more, which is increasing its demand in the market. With the increasing adoption of HMS, vendors are also competing to provide the best software to healthcare organizations. All these factors are driving the adoption of HMS and thus contributing to the growth of the market.
The following factors are likely to contribute to the growth of the Hospital Management Solutions market are-
• Growing adoption of RTLS and cloud monitoring
• Huge assembly of data in healthcare organizations
• Evolution of smart hospital adopting HMS
• Growing need to manage a high volume of health data
• Updating and upgrading healthcare software
• Growing role of AI to improve patient flow and management
• AI can potentially help predict patient flow and avoid unnecessary emergency admissions. Thus, innovations in AI will also impact the market for hospital capacity management solutions.
• Healthcare organizations must manage so much patient data and demand for real-time access to complete patient records. With each passing day, this data increases as more patients add up. This fact increases the importance of the hotel management solutions market.
• The growing challenges of rising medical costs, rising patient expectations and emerging demands from aging populations have no shortage of complications to address. Smart hospital technology helps medical staff save their valuable time and use it to better care for patients and meet their needs as early as possible.
HOSPITAL MANAGEMENT SOLUTIONS SEGMENTS
The Hospital Management Solutions market research report has following segmentation
• Delivery method
• Final user
SEGMENTATION OF HOSPITAL MANAGEMENT SOLUTIONS
• The LMS segment will experience an absolute growth of more than 100% during the forecast period. It has some key benefits like defining and enforcing standard workflows, eliminating transcription errors, integrating with other systems like ERP, etc.
• Web and cloud-based HMS is a proven, fast and cost-effective way to accelerate digital initiatives with no infrastructure and setup costs required. Custom cloud-based software can include features for online appointments, mobile app access for doctors, HIPAA compliance, and more. This drives the growth of the market over the forecast period.
• Integrated hospital management solutions help health administrators exercise greater control over the operation of hospitals and primary health care centers. It facilitates the monitoring of predefined health indicators by generating periodic reports for hospital management.
Market segmentation by type
• Clinical practice management
• Laboratory management
• Pharmacy management
• Hospital inventory management
• Revenue cycle management
• Patient management
Market segmentation by delivery method
• Web and cloud based
• On the site
Market segmentation by modality
Market segmentation by end user
• North America: The North America region will have the highest market share during the forecast period. Due to the growing demand for streamlined operations, efficient workflow and improved management of patient data storage facilities, the preference for HMS has risen sharply in the region.
• Europe: With the increasing number of hospital admissions, mastering capacity management in hospitals has become very crucial. Hospital bed management, staffing, billing and other vital services can be handled easily using hospital management solutions. Hence, it has been widely adopted by various countries in the region, thus contributing to the growth of the market.
• APAC: According to a regional survey, most hospitals in the APAC region plan to increase their spending on digitization to minimize medical errors and increase patient satisfaction over the next three years. APAC’s investment in digitizing healthcare can increase efficiency, reduce expenses, and automate/eliminate redundant processes.
Market segmentation by geography
• North America
o United States
o United Kingdom
o South Korea
• Latin America
• Middle East and Africa
o South Africa
o Saudi Arabia
• Major vendors in the HMS market are Cerner Corporation, General Electric Company, AMI Healthcare Hospital Management, and McKesson Corporation.
• Major players engage in mergers and acquisitions to stay competitive and grow through inorganic growth strategies. For example, Alcidion Corporation acquired ExtraMed in 2021. This was done to strengthen the companies’ presence in the UK to deliver smart technology systems in healthcare.
• Cerner Corporation
• General electricity company
• AMI Health
Other Important Suppliers
• ABOUT HEALTH
• ACG Infotech
• Skilled infosystems
• Allscripts Health
• Assist practice management services
• Attune Technologies
• BR Softech
• Care Cloud
• California Medical Billing Services
• Care logistics
• Cloud 9 medical solutions
• Coronis Health
• Dataman computer systems
• Eastern software systems
• Epic systems
• Gesci Technologies
• Infinity Technology
• ITDOSE INFOSYSTEMS
• JVS Group
• Koninklijke Philips
• NextGen Healthcare
• Progressive Health Solutions
• RK Solutions
• SoftClinic software
• Softech Infosys
• Sonitor Technologies
• STANLEY Health
• Raster images
• TiaTech Health Technologies
• YRO systems
ANSWERS TO KEY QUESTIONS:
1. What is the global Hospital Management Solutions market size and share?
2. Who are the key players in the Hospital Management Solutions Market?
3. What factors should drive the adoption of hospital management solutions?
4. Which segment accounted for the largest hospital information system market share?
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