What Has Been the Progress and Growth of the Hospital Bed Management Systems Market in Recent Years?
The hospital bed management systems market has seen considerable growth due to a variety of factors.
• The market size for hospital bed management systems has seen significant growth recently. The evolution is projected to increase from $2.17 billion in 2024 to $2.39 billion in 2025, representing a compound annual growth rate (CAGR) of 10.2%.
Factors contributing to this growth throughout the historic period include demand from the aerospace sector, initiatives for lightweighting in the automotive industry, development in renewable energy infrastructure, applications in the marine industry, and sports and leisure equipment.
How Does the Forecast Look for the Hospital Bed Management Systems Market?
The hospital bed management systems market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the market for hospital bed management systems is anticipated to witness robust growth. With a compound annual growth rate (CAGR) of 9.8%, it is projected to reach a market value of $3.48 billion by the year 2029.
Factors such as the rise in electric vehicles, widening growth in the wind energy sector, a surge in infrastructure renewal projects, an increased emphasis on sustainable building, and applications within the medical sector are driving this forecasted growth. Key upcoming trends include advancements in manufacturing techniques, material composition innovations, increasing use in renewable energy sectors, market proliferation in construction and infrastructure spaces, and expanded adoption in automotive manufacturing.
What Are The Leading Drivers Of Growth In The Hospital Bed Management Systems Market?
The hospital bed management systems market is projected to expand due to increasing hospitalizations. The term hospitalization defines the act of admitting a patient to a hospital or healthcare establishment for medical attention, supervision, and care. Hospital bed management systems come into play in this procedure, ensuring effective and efficient distribution of hospital beds and medical resources to patients necessitating inpatient care. For example, the HAI (Healthcare-Associated Infections) Progress Report issued by the Centers for Disease Control and Prevention (CDC), a public health agency based in the US, revealed a 12% surge in ventilator-associated events (VAE) in November 2022, including a 12% increase in ICUs and a 16% rise in non-ICUs. As a result, the growing number of hospitalizations is boosting the hospital bed management systems market's growth. Concerning the driver for the Hospital Bed Management Systems Market, rising expenditure on healthcare is fueling the pace at which the market is growing. Healthcare spending pertains to the total amount of financial means assigned to the health sector within a distinct geographical area, nation, or institution. Higher healthcare spending can engender the implementation of more superior HBMS, capable of enhancing operational efficiency, improving patient care, maximizing resource applications and influencing bed availability. The elevated spending might support the induction of HBMS and facilitate proficient use of resources. For example, as per a survey conducted by the Office for National Statistics, a government agency based in the UK, healthcare expenditure in the UK rose by 5.6% between 2022 and 2023 as opposed to a 0.9% growth witnessed in 2022. UK healthcare spending was approximately $317.63 billion (£292 billion) in 2023. Hence, an upsurge in healthcare outlay is fueling the hospital bed management systems market's growth.
How Are The Segments Defined Within The Global Hospital Bed Management Systems Market?
The hospital bed management systems market covered in this report is segmented –
1) By Component: Services, Software
2) By Mode Of Delivery: On-Premise, Cloud-Based
3) By Hospital Bed Management Systems Type: Acute Care Bed, Critical Care Bed, Long-Term Care Bed, Other Types
4) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Services: Consulting Services, Implementation Services, Training And Support Services
2) By Software: Bed Management Software, Patient Flow Management Software, Bed Occupancy And Allocation Software, Reporting And Analytics Software
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What Emerging Trends Are Influencing The Growth Of The Hospital Bed Management Systems Market?
Renowned corporations in the hospital bed management systems sector are emphasizing strategic collaborations to create innovative solutions and secure a competitive advantage in the market. Strategic partnerships, which are cooperative agreements between two or more firms aimed at accomplishing mutual objectives that would be challenging or unworkable individually, are a common strategy. For instance, TeleTracking Technologies, an American firm specializing in healthcare operations platforms, introduced electronic bed management systems in August 2023. This comprehensive system offers real-time details on bed accessibility and patient condition, improves patient flow, and enhances capacity regulation by mechanizing bed rotation and patient positioning methods. This cuts down on unnecessary bed downtime and boosts productivity. Predictive analytics aid in forecasting potential bed necessities, enabling hospitals to modify resources as required. Better interdepartmental communication minimizes delays and obstructions, guaranteeing swift and suitable treatment for patients and enhancing their overall encounter. Similarly, Maidstone and Tunbridge Wells NHS Trust rolled out a new bed management system that drastically elevated bed turnover speeds and patient treatment quality. These technologies facilitate communication across departments, diminish waiting durations, and boost general hospital functioning.
Who Are the Key Players In The Hospital Bed Management Systems Market?
Major companies operating in the hospital bed management systems market report are:
• McKesson Corporation
• Oracle Corporation
• SAP SE
• Koninklijke Philips N.V.
• Stryker Corporation
• GE Healthcare Technologies Inc.
• Infor Inc.
• Epic Systems Corporation
• Getinge AB
• Oracle Cerner
• Veradigm Inc.
• Kronos Incorporated
• Omnicell Inc.
• athenahealth Inc.
• Medical Information Technology Inc.
• CentralSquare Technologies LLC
• Mcleod Health Services Inc.
• Egton Medical Information Systems Limited
• CareCloud Corporation
• Lyngsoe Systems A/S
• Advanced Data Systems Corporation
• PatientKeeper Inc.
• Siemens Healthcare GmbH
• Central Logic Inc.
• LeanTaaS Inc.
• Terawe Corporation
• TeleTracking Technologies Inc.
• The Access Group
What Is The Most Dominant Region In The Hospital Bed Management Systems Market?
North America was the largest region in the hospital bed management systems market in 2024. The regions covered in the hospital bed management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
