Hospital Bed Management Systems Market To Reach $3.8 Billion By 2030

Hospital Bed Management Systems Market Growth & Trends

The global hospital bed management systems market size is expected to reach USD 3.8 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 10.31% from 2023 to 2030. The key factors driving the market growth include the rising incidence of chronic and infectious diseases, increasing geriatric population, and growing adoption of real-time bed management in hospitals. Furthermore, increasing awareness of hospital supportive and friendly software for smooth functioning of bed allotment and rising number of hospitals and clinics are contributing to the market growth. As a result, the demand for growing need for hospital bed management systems is expected to rise in the near future.

Hospitals lose quality suffering and millions due to cancellations, diversions and delays around bed management. The key challenges faced by hospitals include poor coordination among caregivers, lack of data on bed status resulting in hidden beds, inefficient discharge procedures, and deprived forecasting on bed demand from hospital wards, intensive care units, and other specialized areas. Hospital bed management systems are designed to help healthcare organizations manage and maintain their hospital beds.

The software offers a variety of features including optimized bed management, allocation, and tracking for effective hospital management. These features focus on improved patient care, boost overall efficiency, and enhance resource utilization. In addition, hospital bed management systems offer automated workflows, real-time communications, escalation notifications, and reduced patient wait times by coordination.

Furthermore, major players in the market are undertaking several strategic initiatives owing to the rising adoption of automation technologies. For instance, in March 2023, Masimo and Temple Health entered into collaboration with focus on hospital automation and telehealth initiatives to improve life, improve patient outcomes, and reduce the cost of care. Similarly, LeanTaaS completed the acquisition of intelligent automation solutions provider Hospital IQ developing an AI-powered hospital operations software provider valued at about USD 1 billion.

Moreover, growing government funding and initiatives are anticipated to boost market growth. As per the HIMSS Future of Healthcare Report, 80% of healthcare providers plan to boost investments in technology and digital solutions within the next five years. This initiative is projected to drive growth in various sectors, including hospital automation technologies including hospital bed management systems.

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Hospital Bed Management Systems Market Report Highlights

• Based on the type, the market is segmented into acute care beds, critical care bed and long-term care bed, and others.

• The acute care bed segment is anticipated to dominate the global market in 2022 and expected to grow at a 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 the healthcare facilities.

• On the basis of deployment mode, the web & cloud-based segment dominated the market with a maximum revenue share in 2022. The growth is attributed to the need to reduce maintenance expenses and ensure the smooth operation of medical equipment.

• North America dominated the market with a revenue share of 40.9% in 2022. The growth of the region is driven by factors such as the increase in the increasing investments in healthcare infrastructure, rise in disposable income, and the thriving medical tourism industry in the region.

• The Asia Pacific region is predicted to experience significant growth during the forecast period, owing to large patient pool, increased end-user awareness, and heavy government investment in digital transformation in the region.

Hospital Bed Management Systems Market Segmentation

Grand View Research has segmented the global hospital bed management systems market based on type, deployment and region.

Hospital Bed Management Systems Type Outlook (Revenue, USD Million, 2018 - 2030)

• Acute Care Bed

• Critical Care Bed

• Long-term Care Bed

• Others

Hospital Bed Management Systems Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud & Web Based

• On-premise

Hospital Bed Management Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Hospital Bed Management Systems Market

• 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