by Nursing resource allocation plays a crucial role in the overall healthcare management system. With growing patient volumes and complex care requirements, efficient allocation of nursing staff is important to provide quality care. Clinical decision support systems help automate and streamline the staffing and scheduling process, reducing manual efforts. These systems take into account patient acuity levels, nurse competencies and availability to generate optimal staffing plans. The integration of advanced analytics further enhances decision making capabilities.
The global Nursing Resource Allocation Market is estimated to be valued at US$ 1.98 billion in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.
Market Key Trends:
Usage of AI and machine learning algorithms is gaining prominence in nursing resource allocation. Advanced predictive analytics powered by machine learning can analyze historical staffing patterns along with real-time location and workload data to predict future staffing requirements more accurately. This helps avoid over-or-understaffing situations. AI capabilities such as automated scheduling, skill-based assignments and intelligent workload balancing are helping optimize nurse deployment. As healthcare organizations look to maximize operational efficiencies, adoption of AI-driven nursing resource allocation solutions is expected to rise significantly over the coming years.
Porter’s Analysis:
Threat of new entrants: The risk of new players entering the global nursing resource allocation market is moderate. Established players dominate the market and new players require significant investment to develop technology and gain trust.
Bargaining power of buyers: Buyers have moderate bargaining power. Hospitals can switch between different vendors but changing software is a complex process.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power given the presence of multiple technology providers in this market.
Threat of new substitutes: Threat from new substitutes is low as there are limited substitutes to automated nursing resource allocation systems.
Competitive rivalry: The global nursing resource allocation market is highly fragmented with the presence of several international and regional vendors.
Key Takeaways :
The global Nursing Resource Allocation Market Size Is expected to witness high growth due to rising demand for efficient staffing and growing awareness. The market size is projected to reach US$ 3.88 billion by 2030 from US$ 1.98 billion in 2023, registering a CAGR of 9.9% during the forecast period.
North America region holds the largest share of the global nursing resource allocation market owing to advanced healthcare infrastructure and growing adoption of novel technologies. The region’s market size was US$ XX billion in 2023.
Key players operating in the global nursing resource allocation market are Cerner Corporation, Allscripts, McKesson Corporation, Optum, Inc., IBM, Aptean, Health Systems Concepts, Advanced Software Products Group, Verge Solutions, QGenda, Infor, and F.A. Davis Company. Major players are focusing on new product launches and partnerships to enhance their market share.
FAQ’s:
Q.1 What are the main factors influencing the Global Nursing Resource Allocation Market ?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Nursing Resource Allocation Market Companies compare in terms of sales, revenue, and prices?
*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
