Patient Flow Management Solutions Market Research Report and Outlook by 2028

The market for patient flow management solutions is anticipated to grow significantly, reaching an estimated US$ 3,621.51 million by 2028, up from US$ 886.43 million in 2021. This growth represents a remarkable compound annual growth rate (CAGR) of 22.3% from 2021 to 2028.

Several factors are driving this expansion, including the increasing adoption of a patient-centric model, a surge in healthcare start-ups, and a critical shortage of nursing staff and physicians. However, challenges such as a lack of skilled IT professionals and the threat of cyberattacks pose significant barriers to market growth.

In the United States, the healthcare sector is grappling with a pronounced shortage of medical professionals, particularly as the population ages and many physicians approach retirement. The Association of American Medical Colleges (AAMC) projects that the U.S. could face a deficit of up to 120,000 physicians by 2030. Globally, the Global Strategy on Human Resources for Health Workforce 2030 estimates that the combined shortage of healthcare workers, including physicians, nurses, and midwives, could reach 9.9 million by 2030. In India, the nurse-to-population ratio stands at 1.7 nurses per 1,000 people, significantly below the World Health Organization's recommended standard of 3 per 1,000. Furthermore, in China, there is approximately one doctor for every 550 individuals and one nurse for every 425 individuals, highlighting the global nature of this issue. Such shortages can lead to increased patient wait times, a higher likelihood of errors, and diminished personal care.

The limitations inherent in manual patient flow management systems are becoming increasingly apparent, particularly as hospitals expand. The complexity of decision-making rises, and without a systematic approach, knowledge sharing relies heavily on interpersonal communication. Transitioning from manual scheduling to automated patient flow management systems can address the global shortage of healthcare professionals and stimulate growth in the patient flow management solutions market.

The COVID-19 pandemic has had a profound impact on healthcare systems worldwide, pushing hospitals to their limits and contributing to a global economic downturn. The future remains uncertain, as the long-term social and economic effects of the pandemic will depend on the effectiveness of containment measures and the strategies implemented to revive economic activity. The response from economic policymakers to the pandemic has been both substantial and immediate.

During the pandemic, access to hospitals was severely restricted, allowing only essential visits and medical appointments due to the high risk of contamination. This created significant logistical challenges, particularly in managing visitor access. In Canada, for instance, hospitals implemented strict visiting rules, while in the U.S., various exceptions were made for different departments, including pediatrics and emergency care. The National Advisory Committee on Infection Prevention and Control provided guidelines to the Public Health Agency of Canada regarding visitor limitations. As a result of these restrictions, many pharmaceutical and biotechnology companies shifted their focus towards research and development of new patient flow management systems and software to enhance hospital efficiency. For example, EmOpti, a U.S.-based company, offers a telehealth platform that integrates with electronic health records (EHR). Their product, the EmOpti Requestor, includes devices for both nurses and patients, enabling better management of fluctuating patient numbers. Additionally, EmOpti Insights provides real-time analytics for healthcare professionals, facilitating improved monitoring and response across hospital facilities. These developments have contributed to steady growth in the patient flow management solutions market.

The global market for patient flow management solutions is categorized by product, type, component, and delivery mode. In terms of product, the market is divided into integrated and standalone solutions. In 2021, the standalone segment held a larger market share, particularly favored by small and medium-sized healthcare organizations seeking to enhance patient flow management efficiency. The integrated segment, however, is projected to grow at a CAGR of 23.0% during the forecast period, driven by the increasing patient population and the need to reduce associated costs.

When examining the type of solutions, the market is divided into real-time locating systems and event-driven patient tracking. The latter held a larger share in 2021 and is expected to continue growing at a CAGR of 22.0%.

In terms of components, the market is segmented into software, hardware, and services. Software dominated the market in 2021 and is expected to grow at a CAGR of 23.1%. The services segment, which includes consulting, post-sale maintenance, and ongoing IT support, plays a crucial role in reducing wait times and improving both inpatient and outpatient flow.

Finally, the market is categorized by application into on-premise, cloud-based, and web-based solutions. The cloud-based segment held the largest market share in 2021 and is anticipated to experience the fastest growth in the coming years.

Key organizations such as the Centers for Disease Control and Prevention (CDC), Healthcare Information and Management Systems Society (HIMSS), World Health Organization (WHO), Association of American Medical Colleges (AAMC), Organization for Economic Co-operation and Development (OECD), and Information and Communications Technology Council (ICTC) have been instrumental in providing data and insights for the analysis of the patient flow management solutions market.