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In this report, LP Information studies the present scenario (with the base year being 2017) and the growth prospects of global Patient Data Management Systems (PDMS) market for 2018-2023.
A PDMS is a computer-based information system which facilitates the collection, integration, retrieval and interpretation of the multi-source (e.g. hospital information system, laboratory system, bedside devices) multi-variant (e.g. images, numbers, text) data found in intensive care units.
A PDMS is considered a medical product performing calculations or interpretations of patient-specific data for diagnostic or therapeutic purposes, e.g. dosage of medication. PDM systems can support clinicians in their everyday work, in a way that is not possible with paper-based documentation. If a PDMS has not been certified as a medical product, physicians and nurses must use the original data source every time they take a therapeutic decision.
The majority of their operating expenditure consists of research and development (or R&D) costs and marketing spending. With the emergence and adoption of cloud computing and open source software, companies are finding it very difficult to maintain high margins, which were once associated with the industry. Every year, software companies revise their R&D spending budget in order to keep up with the competition and innovate new products and technologies.
R&D costs typically form 10%-20% of the revenues for software companies. However, not all of this goes into innovation. A large portion of its spent in testing various configurations of operating systems (or OS) is instead of developing new functionality. Industry experts think that even less than 5% of R&D budget is spent on innovation. This expenditure gives an insight into the revenues expected in future. It hints at the company's market share and profitability.
Due to increased competition, companies have huge marketing expenditure, which even surpasses R&D spending most of the time. This expense category contributes the most to operating expenditure of software companies. It varies depending on the product or services that a company is engaged in. On average, companies spend 15%-25% of their revenues in sales and marketing activities. However, there are exceptions like Symantec (SYMC) which has consistently spent ~40% of its revenues in sales and marketing.
Over the next five years, LPI(LP Information) projects that Patient Data Management Systems (PDMS) will register a 13.4% CAGR in terms of revenue, reach US$ 1190 million by 2023, from US$ 560 million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Patient Data Management Systems (PDMS) market by product type, application, key companies and key regions.
To calculate the market size, LP Information considers value generated from the sales of the following segments:
Segmentation by product type:
- Single Function System
- Multifunction System
Segmentation by application:
- General Ward
We can also provide the customized separate regional or country-level reports, for the following regions:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
- Philips Healthcare
- GE Healthcare
- Siemens Healthineers
- Radiometer Medical
- IMD Soft
- Nexus AG
- Smiths Medical
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Patient Data Management Systems (PDMS) market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Patient Data Management Systems (PDMS) market by identifying its various subsegments.
- Focuses on the key global Patient Data Management Systems (PDMS) players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Patient Data Management Systems (PDMS) with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the size of Patient Data Management Systems (PDMS) submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.