Hospital Bed Management Systems Market (2023 - 2030)

Report Overview

The global hospital bed management systems market size was valued at USD 1.8 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.31% from 2023 to 2030. The market’s growth is attributed to factors including rising awareness and adoption of automation technologies in hospitals, growing collaborations of key players and hospitals for software installation, and increasing launch of novel software and solutions for hospital management industry. In addition, the increasing prevalence of life-threatening diseases and rising patient admissions are the key factors driving the market.Furthermore, the hospital bed management system offers real-time information on bed availability with assigned color codes and supports hospital staff to manage the increasing number of patient admissions.

For instance, according to the American Hospital Association Statistics 2023, approximately 34 million hospital admissions were recorded in the U.S. As a result, installation of hospital bed management system helps in the constant monitoring and tracking of patient flow, discharges, and admissions. It also helps in the identification of bed availability across every ward, particularly during periods of high demand.

Key companies are collaborating with emerging players to drive hospital automation. For instance, in October 2021, GE Healthcare and Apprise Health Insights partnered to introduce an automated statewide hospital bed management system in the U.S. This innovative step aimed to efficiently handle hospital data and provide real-time updates on occupancy, enabling medical facilities to use their resources optimally.

In addition, in August 2022, Dozee collaborated with Midmark India to launch smart connected beds equipped with sensor-based AI technology for monitoring vital signs. These advanced beds rely on hospital bed management systems to digitize and automate patient monitoring processes effectively. With such strategic partnerships promoting innovation, the hospital management system market is expected to experience significant growth, benefiting both healthcare providers and patients.

In 2020, the COVID-19 pandemic had a positive impact on the market owing to the exponential number of hospital admissions for COVID-19. According to the UK Health Security Agency, the rate of COVID-19 admissions was 10.62 per 100,000 people. Hence, the government took several initiatives to utilize their hospital beds best to serve the COVID-19 patients. In June 2021, the Bruhat Bengaluru Mahanagara Palike, launched a new bed allotment software for patients walking into COVID-19 C are Centers (CCC) and Physical Triaging Centres (PTC) in Bengaluru. Hence, this initiative supplemented the hospital bed management systems market during the COVID-19 pandemic.

Type Insights

Based on the type, the market is segmented into acute care bed, critical care bed and long-term care bed. The acute care bed segment dominated the market in 2022 and expected to grow at fastest CAGR of 10.68% during the forecast period. The growth is attributed to increasing acute care admission of patients for one to three days at healthcare facilities.

Acute care beds are used to diagnose, treat, and care for a wide range of symptoms, injuries, and conditions. The demand for acute care beds is expected to increase owing to the presence of a large number of acute care hospitals and a rising geriatric population. For instance, according to the Centers of Medicaid and Medicare Services, there were about 4,749 acute care hospitals in the U.S. In addition, key players in the market are offering acute care beds with smart technology to enhance patient comfort, safety and support active mobilization and patient outcomes. For instance, LINET offers the Eleganza 2 automatic hospital bed with a modern design for quality care at a higher level. Such offerings are expected to fuel the segment’s growth.

The long-term care bed segment is expected to have substantial growth during the forecast period. The increasing prevalence of chronic diseases such as cancer, diabetes, heart disease, chronic kidney diseases, and Alzheimer's disease are expected to propel the long-term care bed segment over the forecast period. For instance, according to the NIH, as of January 2022, it was estimated that 18.1 million population in the U.S. were cancer survivors. This represents about 5.4% of the population. In addition, the number of cancer survivors is anticipated to increase by 24% to 22.5 million by 2032. These factors contribute to the adoption and demand for long-term care beds in the healthcare industry.

Deployment Insights

Based on the deployment mode, the market is segmented into cloud & web based and on-premises. The cloud & web-based segment is anticipated to dominate the global market in 2022 and expected to grow at fastest CAGR during the forecast period. The growth is attributed to increasing adoption of cloud solutions in clinics to improve efficacy and reduce cost.

Cloud solutions provide scalability, enabling healthcare organizations to easily adjust or expand their software usage based on their needs. This flexibility allows them to efficiently manage a increasing need of hospitals best and to accommodate a large patient pool without significant infrastructure investments. Furthermore, cloud offers real-time data sharing, data manipulation, security, storage flexibility, and reliability. These factors collectively contribute to the growing adoption and demand for cloud-based hospital management systems, empowering healthcare organizations to streamline their operations, enhance patient care, and optimize resource utilization.

The on-premises segment is expected to have substantial growth during the forecast period. The availability of new on-premises software offers healthcare organizations increased offline accessibility, compliance adherence, customization options, and data control. It allows organizations to have greater control over system upgrades and long-term cost considerations and offers flexibility to integrate with existing systems. These factors contribute to the demand for and adoption of on-premises software in the healthcare industry.

Regional Insights

North America dominated the market with a revenue share of 40.9% in 2022. This can be attributed to the rapid adoption of technologically developed products. The regional growth is driven by factors such as the well-established infrastructure, the wide adoption of hospital bed management systems, and the presence of major market players in the region.

Furthermore, the growth of market in region is being driven by the emergence of advanced technologies such as cloud computing, artificial intelligence (AI), analytics, edge computing, and Internet of Things (IoT). These technologies are playing a vital role in transforming the maintenance management landscape. The adoption of hospital bed management systems enables healthcare facilities to track bed availability in real-time, automate bed allocation procedures and optimize patient flow.

The Asia Pacific region is predicted to experience significant growth in the forecast period. The growing awareness of computerized maintenance management systems (CMMS) among end-users will generate new opportunities for the market. In addition, governments of many countries are investing greatly in cloud and associated healthcare technologies to facilitate digital transformation, which has the potential to boost the market in Asia Pacific. For instance, in August 2021, the government of Delhi announced USD 19 million project to set up cloud-based hospital information management system. This initiative was expected to supplement the market in Asia Pacific.

Key Companies & Market Share Insights

The market is competitive owing to the presence of systems providers. The market players are adopting various strategies, such as partnerships & collaborations, new product launches, and regional expansion to gain higher market shares. For instance, in June 2023, Medway NHS Foundation Trust, entered into partnership with TeleTracking Technologies to supply the Trust’s new Care Co-ordination Centre, a centralized, holistic approach for patient flow and bed management. This initiative was expected to boost the company’s hospital bed management systems. Some of the prominent players in the global hospital bed management systems market include:

• Oracle

• Epic Systems Corporation

• GE Healthcare

• Veradigm LLC

• CentralSquare Technologies

• Advanced Data Systems

• Terawe Corp

• Lyngsoe Systems A/S

• The Access Group

• EMIS Health

• TeleTracking Technologies, Inc.

• SAP

Hospital Bed Management Systems Market