Healthcare Management Solutions Market Size

Healthcare Management Solutions Market Future Prospects

The global healthcare management solutions market size is estimated at USD 45.1 billion in 2024, and it is expected to garner USD 98.7 billion by 2030, advancing with a CAGR of 14.0% during 2024–2030.

The growing demand for patient information management, appointment scheduling, hospital inventory, clinical error minimization, revenue cycle management, medical equipment handling, and various services that can help streamline the hospital workflow and the growing adoption of cloud computing are responsible for the burgeoning adoption of these solutions.

Moreover, the growing adoption of real-time location systems (RLTSs) and cloud monitoring, development of smart hospitals, rising need to efficiently maintain a high volume of healthcare data, and the growing importance of artificial intelligence (AI) in optimizing patient flow and system management in healthcare settings are driving the market growth.

The COVID-19 outbreak has highlighted the need for better hospital capacity management and real-time data on bed availability. During the pandemic, hospitals faced patient surges, compounded by natural disasters, such as hurricanes and wildfires, which put a strong burden on ICUs and ERs around the world. As the COVID-19 pandemic has shown, healthcare systems must be flexible and ready to offer appropriate care in resource-constrained situations, which necessitates constant information and situational awareness.

Further, as reported by the Italian Ministry of Health, during the first weeks of the epidemic, 20–30% of the people with COVID-19 in Europe were hospitalized, with an even higher rate of hospitalization among people over 60 years of age and those with comorbidities, 4% of whom were critically ill due to COVID-19. This resulted in an overuse of hospital beds. These factors highlighted the need for better hospital management systems (HMS), thus resulting in significant market growth.