The patient flow management solutions market is projected to reach US$ 3,621.51 Million by 2028 from US$ 886.43 Million in 2021; it is expected to grow at a CAGR of 22.3% during 2021-2028.
The market's growth is attributed to some key driving factors such as rising adoption of patient-centric approach, rising numbers of start-ups, and shortage of nursing staff and doctors are driving the growth of the global patient flow management solutions market. However, the shortage of skilled IT technicians and risks of cyber threats are hampering the market growth. Patient-centric care is a healthcare system that establishes a partnership among practitioners and patients to ensure that important decisions support patients’ demands and needs. Wireless technologies have been built around the hospital environments through which patients and providers can manage personalized data. Smartphones are essential to change health-related behavior and manage hospital schedules. Internet-based tools also make healthcare practices easy and manageable by collecting healthcare information and offering services to enlighten patients about concerned physicists and provide details about their availability and appointment scheduling. Due to the availability of a wide variety of applications and easy access to them, many people have started using these tools to eliminate waiting time and get convenient appointments.
Commonly faced problems by hospitals, such as clinical mistakes, queues, delays, under and overcapacity utilization, patient acceptance in inappropriate settings, variability of workload, and stress for hospital staff are often related to poor patient flow management. Thus, shifting the approach from self-referential designs to a patient-centric and convenient approach promotes the patient flow management solutions market growth.
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Patient Flow Management Solutions Market: Strategic Insights
Market Size Value in US$ 886.43 Million in 2021 Market Size Value by US$ 3,621.51 Million by 2028 Growth rate CAGR of 22.3% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Patient Flow Management Solutions Market: Strategic Insights
| Market Size Value in | US$ 886.43 Million in 2021 |
| Market Size Value by | US$ 3,621.51 Million by 2028 |
| Growth rate | CAGR of 22.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Patient flow monitoring helps reduce wait time, provides insight, promotes on-demand services, and organizes versatile medical record keeping. A holistic virtual care platform based on patient flow data and unique devices designed for healthcare practitioners and patients allows them to have strategic plans to deploy required services across hospitals. More organizations are entering this market with the increasing adoption of patient flow management solutions in the healthcare sector. For instance, EmOpti, a US-based startup founded in 2015, offers a telehealth platform that is interoperable with patient electronic health records (EHR). The company offers an EmOpti Requestor consisting of a nurse device and a patient device. The company's hardware and software empower nurses to manage fluctuating patient volumes efficiently. Similarly, Tracworx, an Irish startup founded in 2016, provides real-time patient tracking software that aims to deliver reliable data on every stage of treatment. The business offers a wearable wrist device that records patients’ locations and sends data to the cloud for automated analysis, allowing hospitals to save money and time spent on patient tracking. As a result, the entry of start-ups in patient management solutions supports market expansion. Therefore, the factors mentioned above are driving the demand for patient flow management solutions.
North America held the largest market share for the patient flow management solutions market in 2021. The US held the largest market in North America for patient flow management solutions. The market is expected to grow due to the rising adoption of a patient-centric approach by healthcare providers and the shortage of nursing staff and doctors. Increase in demand for patient flow management solutions in hospitals and clinics in the US and increasing healthcare funding dedicated towards the development of IT-based solutions for healthcare characterize the growth in North America
Lucrative Regions for Patient Flow Management Solutions Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Shortage of Nursing Staff and Doctors
Shortage of Nursing Staff and Doctors
The US is facing a severe shortage of physicians and nursing staff due to a surge in the aging population and impending retirements of older physicians. According to the Association of American Medical Colleges (AAMC), the US is expected to face a shortage of 120,000 physicians by 2030. According to the Global Strategy on Human Resources for Health Workforce 2030 forecasts, the global collective shortage of physicians, nurses, and midwives could reach 9.9 million by 2030. According to an article published in IndiaSpen, India has 1.7 nurses per 1,000 people, 43% lesser than the World Health Organization standard (3 per 1,000). Moreover, there were approximately 3.07 million registered nursing personnel in India in 2020. According to World Bank Group figures for 2017, there was 1 doctor for 550 people and 1 nurse for 425 people in China. Such shortage conditions translate into increased for patients, higher possibilities of mistakes, and lack of personal attention.
The limitations of manual patient flow management include the increasing difficulty of decision-making and the rising complexity of processes with the growth in hospital size. Moreover, decisions are not recorded in any system; knowledge sharing only relies on human interactions. Thus, shifting from manual scheduling and dispatching to automated patient flow management workflow offers solutions to the rising shortage of nursing staff and physicians worldwide and boosts the growth of the patient flow management solutions market
Product-Based Insights
The patient flow management solutions market based on product is segmented into integrated and standalone. In 2021, the standalone segment accounted for a higher market share due to higher adoption in small and medium-size healthcare organizations prefer standalone platforms to improve the quality and efficiency of patient flow management. However, the integrated segment is expected to grow at a CAGR of 23.0% in the forecast period due to the rising needs of a large population of patients and reducing or minimizing the costs associated.
Patient Flow Management solutions Market, by Product
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Type-Based Insights
The type segment of the patient flow management solutions market is segmented into real-time locating systems and event-driven patient tracking. Event-driven patient tracking held a larger market share in 2021 and is anticipated to grow at a significant rate and accounted to grow at the CAGR of 22.0%.
Component-Based Insights
The component segment of the patient flow management solutions market is segmented into software, hardware and services. Software is the largest segment among the component segment in the patient flow management market in 2021. The segment is also anticipated to grow at a significant rate and is accounted to grow at the CAGR of 23.1%. Further, the services segment is subsegmented into consulting services, post-sale & maintenance services, and ongoing IT support & implementation services. These services help by reducing the waiting times, better handling of in as well as outpatient flow. Other than software and hardware, services facilitate additional support for enabling better patient flow management solutions.
Delivery Mode-Based Insights
The patient flow management solutions market, based on application, is segmented into on-premise, cloud-based, and web-based. In 2021, the web based segment held the largest share of the market. However, the cloud-based segment is also expected to grow at the fastest rate during the coming years.
Companies operating in the patient flow management solutions market adopt the product innovation strategy to meet the evolving customer demands worldwide, permitting them to maintain their brand name in the global patient flow management solutions market.
Patient Flow Management Solutions Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- McKesson Corporation
- Epic Systems Corporation
- Cerner Corporation
- TeleTracking Technologies Inc
- Allscripts Healthcare, LLC
- Sonitor Technologies AS
- ABOUT Healthcare, Inc.
- Care Logistics
- Intelligent InSites
- Aptean
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Type, Component, and Delivery Mode
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, UAE, UK, US
Frequently Asked Questions
Patient flow management solutions are central-server software solution that provides patient reception, queuing, routing and interaction management tools to the clinics and departments. The solutions allows to handle all the aspects of patient flow such as routing, reception, triage, treatment, payment, preparation and administration. The patient flow management solutions helps to manage waiting rooms and treatment rooms. It synchronizes back-office workflow that helps to inform the family members and patients during long procedures. The report would be of an interest to various stakeholders operating in the patient flow management market. These stakeholders include research & consulting firms, patient flow management solutions developers and consumers, financial analysts as well as new entrants in the market.
The factors that are driving the growth of the market are the rising adoption of patient-centric approach, shortage of nursing staff and doctors, and rising numbers of start-ups.
The standalone segment is expected to be the leading product in the patient flow management solutions market in 2021.
The web-based segment are expected to be the leading delivery mode in the patient flow management solutions market in 2021.
The global patient flow management solutions market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The largest market for patient flow management solutions is held by the North American region. The United States held the largest market for patient flow solutions management. The Asia-Pacific region is expected to be the fastest-growing region during the forecast period.
The patient flow management solutions market majorly consists of the players such as McKESSON CORPORATION; Epic Systems Corporation; Cerner Corporation; TeleTracking Technologies Inc; Allscripts Healthcare, LLC; Sonitor Technologies AS; ABOUT Healthcare, Inc.; Care Logistics; Intelligent InSites; and Aptean among others.
The List of Companies - Patient Flow Management Market
- McKESSON CORPORATION
- Epic Systems Corporation
- Cerner Corporation
- TeleTracking Technologies Inc
- Allscripts Healthcare, LLC
- Sonitor Technologies AS
- ABOUT Healthcare, Inc.
- Care Logistics
- Intelligent InSites
- Aptean
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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