May 24, 2024

The Integrated Patient Care Systems Market is evolving through trends of Streamlining healthcare services delivery

The Integrated Patient Care Systems Market comprises combination of software and services that allow different healthcare organizations to share patient medical data electronically. Integrated patient care systems enables streamlining workflows across various clinical settings including hospitals, laboratories, imaging centres, pharmacies and others. This helps in improving productivity, reducing medical errors and enhancing quality of care.

The Global Integrated Patient Care Systems Market is estimated to be valued at US$ 33,450 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.

Key Takeaways
Key players operating in the Integrated Patient Care Systems are Grifols, S.A., SK Plasma, Fusion Healthcare, Takeda Pharmaceutical Company Limited, LFB, Octapharma AG, CSL Limited, Bio Products Laboratory Ltd., China Biologic Products Holdings, Inc., Kedrion, Shanghai RAAS, ADMA Biologics Inc., Kamada Pharmaceuticals, and Biotest AG. The growing geriatric population and rising prevalence of chronic diseases are driving the demand for integrated patient care systems. Additionally, increasing investments by major players for expansion in emerging economies are further fueling the growth of global integrated patient care systems market.

Growing demand: The increasing cases of chronic diseases such as cancer, diabetes and cardiovascular diseases coupled with growing geriatric population are major factors augmenting demand for integrated patient care systems. The integration of data from different healthcare facilities aids in providing better ongoing treatment and management of chronic conditions.

Global expansion: Key players in the integrated patient care systems market are focusing on strengthening their presence in emerging economies through partnerships and strategic expansions. For instance, Fusion Healthcsre partnered with Royal Philips to provide integrated patient monitoring systems across Asia Pacific and Middle East regions. Similarly, Grifols expanded its plasma collection centers network in Latin America and Asia to cater growing demand.

Market key trends
The adoption of cloud-based integrated patient care systems is gaining traction owing to advantages such as cost savings, accessibility of data from remote locations and flexibility. The cloud deployment model allows seamless connectivity between healthcare providers and facilities for real-time data sharing. This is helping in facilitating coordinated and efficient patient care services.

Porter’s Analysis
Threat of new entrants: The integrated patient care systems market requires significant capital investments for research and development activities which pose a barrier for new entrants. The presence of large established players also poses competitive challenges for new players.

Bargaining power of buyers: The buyers have moderate bargaining power due to the availability of alternative treatment options. However, the specialized nature of integrated patient care systems limits options for buyers.

Bargaining power of suppliers: The suppliers have moderate bargaining power due to the specialized components and materials required to manufacture integrated patient care systems. This results in fewer supplier options for manufacturers.

Threat of new substitutes: Potential substitute threats are limited due to specialized clinical needs that integrated patient care systems address. However, advancement of individual point-of-care devices poses a potential threat.

Competitive rivalry: The market is highly competitive with presence of large multinational corporations. Companies compete based on technological innovations, quality, and customer service.

Geographical Regions
North America region is expected to dominate the market during the forecast period. This is attributed to growing prevalence of chronic diseases, rising geriatric population, and supportive government initiatives for adopting integrated healthcare management. According to analysis, the United States holds majority of the regional market share.

Asia Pacific region is projected to showcase fastest growth during 2023-2030. This can be attributed to increasing healthcare expenditure, growing incidences of blood disorders, rising awareness about blood component therapy and growing research collaborations between key market players and academic institutes in countries such as India and China for expanding plasma collection.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it