Nursing Resource Allocation Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What fueled the previous growth in the nursing resource allocation market?
The market size for nursing resource allocation has seen a swift expansion in the past few years. It is projected to expand from $1.95 billion in 2024 to $2.16 billion in 2025, with a compound annual growth rate (CAGR) of 10.7%. Factors contributing to growth during the historical period include an increase in patient acuity, a surge in the incidence of chronic diseases, substantial growth in the elderly population, enhanced use of electronic health records (EHR), and a rise in the ratio of nurses to patients.
What will be the nursing resource allocation market size in the future?
Forecasted to experience substantial expansion in the next several years, the nursing resource allocation market is projected to reach a valuation of $3.21 billion by 2029, with a compound annual growth rate (CAGR) of 10.3%. The predicted expansion during this period is credited to several factors including considerable changes in healthcare policy, increasing assessments of community health needs, rising adoption of evidence-based practices, noteworthy advancement in nursing leadership initiatives, and escalating patient education requirements. Key trends anticipated throughout this forecast period incorporate the heightened use of artificial intelligence, the expansion of telehealth services, an intensified emphasis on patient-centric care, integration of data analytics, and progress in electronic health records.
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What main drivers are fueling expansion in the nursing resource allocation market?
The surge in patient admissions is anticipated to spur the expansion of the nursing resource allocation market in the future. Patient admission is the official approval of a patient into a hospital or healthcare center for observation or treatment. The escalation in patient admissions is linked to various elements such as an aging demographic, progress in medical technology, elevated patient expectations, and improved healthcare service accessibility. Effective distribution of nursing resources enhances patient care by matching staff with the severity and requirements of the patient, improving results, and decreasing complications. This process also simplifies workflows and mitigates burnout, resulting in superior care and reduced staff attrition. For instance, a National Health Service (NHS) report from the UK government department published in December 2023 revealed that there had been 408,700 hospital admissions in the years 2022-2023, which represents a 5% hike up from 389,800 hospital admissions in 2021-2022 in England. Hence, the upswing in patient admissions is set to boost the nursing resource allocation market.
What key areas define the segmentation of the global nursing resource allocation market?
The nursing resource allocation market covered in this report is segmented –
1) By Product Type: Software, Services
2) By Deployment: On-Premise, Cloud-Based
3) By Application: Emergency Departments, Perioperative Services, Inpatient Care Management, Workflow Automation
4) By End-User: Hospitals, Clinics, Ambulatory Care Centers, Nursing Homes, Other End-Users
Subsegments:
1) By Software: Nurse Staffing Software, Workforce Management Software, Scheduling and Shift Management Software, Nurse Call System Software, Clinical Workflow Management Software, Patient Flow Management Software, AI-Based Resource Allocation Software
2) By Services: Consulting Services, Implementation Services, Training and Support Services, Managed Services, Data Analytics and Reporting Services
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Who are the dominant players expanding their reach in the nursing resource allocation market?
Major companies operating in the nursing resource allocation market are HealthTrust, Siemens Healthineers AG, AMN Healthcare Services Inc., UKG Inc., Infor Inc., Cross Country Healthcare, Maxim Healthcare Services, CHG Healthcare Services Inc., Ascom Holding AG, symplr, HealthStream Inc., WorkForce Software LLC, QGenda LLC, ShiftMed LLC, Petal Solutions Inc., OnShift Inc., Deputec Pty Ltd., Smartlinx LLC, Intrigma Inc., Connecteam Inc., ShiftCare, Shiftboard Inc., ShiftHound Inc., Polaris AI Inc.
How are evolving market trends shaping nursing resource allocation Strategies?
Leading enterprises in the nursing resource allocation sector are initiating the creation of nurse and employee workforce management solutions to enhance scheduling and augment staff usage. These solutions encompass systems and tools built to make the scheduling, allocation, and administration of nursing and healthcare employees more efficient. For example, QGenda LLC, a software firm located in the US, introduced its nurse and staff workforce management solution, a mobile-centric solution tailored to the specific needs of healthcare organizations in managing their nursing personnel in December 2022. This solution enables the development and administration of adaptable schedules that meet the needs of nurses and staff, guaranteeing suitable coverage based on patient care needs. The solution enables nurses to self-schedule and update their preferences, fostering engagement and satisfaction by providing them with greater control over their working hours.
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Which regions are emerging as leaders in the nursing resource allocation market?
North America was the largest region in the nursing resource allocation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nursing resource allocation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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