June 13, 2024
Global Nursing Resource Allocation Market

Global Nursing Resource Allocation Market is Estimated to Witness High Growth Owing to Rising Healthcare Costs

The global nursing resource allocation market involves planning, allocating, and ensuring efficient utilization of nursing staff across healthcare facilities. Nurses form the backbone of hospitals and clinics and their effective management through resource allocation systems helps in providing quality patient care. These solutions allow hospitals to optimize nurse-patient ratios, minimize overtime costs, enhance productivity, and improve patient outcomes. They analyze real-time data on nurse competencies, availability, workload, and schedule preferences to match staff with patients while considering regulatory requirements.

The Global Nursing Resource Allocation Market Size is estimated to be valued at US$ 1.98 Bn in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period 2024-2031.

Key Takeaways

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.

The market provides numerous growth opportunities such as rising adoption of cloud-based solutions, integration of AI and analytics, and emerging blockchain technology. This allows healthcare facilities to gain real-time insights, address staffing issues proactively, and enhance patient safety.

Globally, the market is witnessing expansion across countries due to growing demand for efficient healthcare systems, escalating costs of hospital-acquired conditions, and need to optimize nursing workflows with limited workforce. The Asia Pacific region in particular offers lucrative opportunities for vendors owing to improving health insurance penetration and increasing healthcare expenditure in developing nations.

Market Drivers

Rising healthcare costs have compelled hospitals to reduce operational expenses and eliminate wasteful spending wherever possible. Effective resource allocation helps ensure appropriate nurse-patient ratios based on acuity levels and minimize nursing overtime. This helps curb costs associated with high patient turnover and hospital-acquired conditions, thereby driving increased adoption of these solutions.

PEST Analysis

Political: The Global Nursing Resource Allocation Market is impacted by regulations and policies related to healthcare reforms. Governments across the world are increasing healthcare budgets to improve access to quality care.

Economic: Factors such as rising healthcare costs and demand for quality care are driving the adoption of resource allocation solutions in the market. Hospitals and healthcare organizations are investing in technologies to optimize resource utilization and enhance productivity.

Social: There is an increased focus on effective management of nursing resources to address issues related to nursing staff shortage. Optimization of staff allocation helps in improving patient outcomes and experiences.

Technological: Advanced cloud-based solutions are being adopted for real-time resource allocation and tracking. Analytics and AI capabilities in modern platforms help assess staffing requirements and make data-driven decisions. Automation facilitates improved workflows and standardization of processes.

In terms of value, the North American region holds the largest share in the global nursing resource allocation market. Increased digitization of healthcare and presence of major players are driving higher technology adoption among hospitals and medical facilities in countries like the US and Canada.

The Asia Pacific region is poised to grow at the fastest rate over the forecast period. Rapid economic development, rising medical tourism, growing private healthcare sectors and government initiatives to strengthen health infrastructure are boosting market opportunities across countries such as China, India and South Korea.

What Are The Key Data Covered In This Global Nursing Resource Allocation Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Nursing Resource Allocation Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Nursing Resource Allocation Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Global Nursing Resource Allocation Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Nursing Resource Allocation Market vendors

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?

Q.5 Which businesses serve as the Global Nursing Resource Allocation market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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