Patient Flow Management Market to 2025 - Global Analysis and Forecasts By Product, Type, Component; and Delivery Mode and Geography
LONDON, March 11, 2019 /PRNewswire/ --
Patient flow management market in global is expected to grow from US$ 452.66 Mn in the year 2017 and is expected to reach US$ 2,126.64 Mn by 2025 growing at a CAGR of 21.9% over the forecast period.
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Driving factor such as rising adoption of patient-centric approach by healthcare providers, and shortage of nursing staff and doctors are expected to boost the market growth over the years.However, the shortage of skilled IT technicians and risks associated with cyber threats are likely to have a negative impact on the growth of the market in the coming years.
The current scenario of the mobile health platforms is increasing day by day.The increasing adoption of universally advanced technology is expected to propel the growth for patient flow management market in the forecast period.
For 2017, the number of smartphone users in Canada was estimated to reach 24.02 million. The increasing penetration of smartphones and growing wireless network technology provides improved digital healthcare system with novel opportunities to address more challenges that associated with accessibility, quality, effectiveness, efficiency and cost of healthcare. Additionally, the use of smartphones among common populace with respect to healthcare applications is also on the verge of increase. For instance, according to a report published in JMIR Mhealth Uhealth Journal in October 2016, 58.23% of mobile phone users participated in the survey in the US had downloaded and used healthcare apps and used them for various purposes. This will leading to an increasing adoption of the mobile health technology in the digital health community and likely to be a prevalent trend within the patient flow management market.
Global patient flow management market, based on the product was segmented into integrated and standalone. In 2017, the standalone segment held a largest market share of 68.4% of the patient flow management solutions, by product. This segment is also expected to dominate the market in 2025. The growth of the market is primarily attributed to the current use of standalone patient flow management solutions in various healthcare institutions across the globe. However, the integrated segment is expected to grow with the fastest growth rate of 22.6% during the forecast period, 2018 to 2025.
Global patient flow management market, based on component was segmented into software, hardware, and services. In 2017, the software segment dominated the market based on the component contributing a share of 46.5%. Software components are compatible with the systems offered as an standalone solutions via manufacturers as well as can be integrated with the various other devices such as computer and mobile systems that are feasible to be used by healthcare providers, leading to high share of software component segment over the coming years.
Some of the major primary and secondary sources included in the report for the global patient flow management market are World Health Organization (WHO), American Hospital Association, National Center for Biotechnology Information (NCBI), Healthcare Information and Management Systems Society, National Ambulatory Care Reporting System, and Organization for Economic Co-operation and Development (OECD), among others.
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