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Hospital Outsourcing Market Size to Surpass US$ 685 Bn by 2030

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New York, Oct. 07, 2021 (GLOBE NEWSWIRE) — New York, Oct 07, 2021 (GLOBE NEWSWIRE) – According to Precedence Research, the hospital outsourcing market size was reached at US$ 270 billion in 2020. Hospital outsourcing has paved its way to become one of the most popular strategies that hospitals adopt to control costs. In hospital outsourcing, a third party or external contractor/service provider takes over the control of management of a hospital or healthcare organizations’ operations, clinical, and hospitality services. The service provider, by applying its expertise achieves economies of scale and thus offers efficient services to the hospitals at optimum costs. This reduces the operating cost of the hospitals and improves profitability. This is a major driving force of the hospital outsourcing market. The service providers offers various services such as IT services, laundry, patients’ records, cafeteria, catering, transport, and several other services. This helps the hospital to focus on their core business. The presence of large number of service providers offers the services at reasonable cost due to increased competition. Moreover, stringent government regulations to maintain electronic medical records are significantly boosting the growth of the hospital outsourcing market.

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Crucial factors accountable for market growth are:

  • Growing popularity of management service providers
  • Rising burden of patients flow
  • Rising growth in geriatric population
  • Technological advancements and increased investments on R & D activities.
  • Increased penetration of healthcare units in developed markets
  • Increased importance of non-core activities in hospitals
  • Availability of numerous service providers in the hospital outsourcing market

Report Highlights

  • By service, the clinical services segment is expected to be the fastest-growing owing to the growing number of diagnostic laboratories, clinics, and private hospitals in the major markets such as US, India, Japan, and UK.
  • By type, the private segment led the global hospital outsourcing market with remarkable revenue share in 2020. The private hospitals seek to earn more profit by reducing their operational costs by assigning the management related activities to the specialized hospital outsourcing service providers.

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Regional Snapshots

North America is the dominating hospital outsourcing market. This is attributable to the fact that major markets in the region like US and Canada has the most developed healthcare infrastructure and a significant number of private and public hospitals operate. The population of US is getting older at a fast pace as compared to any other developed region. Therefore, growing geriatric population coupled with the better access to the hospitalization facilities has perfectly played its role in the growth of the hospital outsourcing market growth. Moreover, strict Federal laws regarding the maintenance of electronic records of patients have a major contribution in the growth of the market in the region.

Asia Pacific is estimated to grow at the fastest rate during the forecast period owing to the increasing shift towards digital technologies. Rising government expenditure on healthcare sector top make the healthcare services accessible to the majority of the population is playing a prominent role in the growth of the hospital outsourcing market in the region. Further, reducing paperwork and moving towards more economic and sustainable alternative in the field of hospital management services is propelling market growth.

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Drivers

The hospital outsourcing market is primarily driven by the increased number of patients admissions owing to rising prevalence of chronic conditions and diseases amongst the population. Moreover, growing geriatric population, who are prone to diseases is boosting the market growth. According to the United Nations, the global population of age 65 years and above is estimated to reach 1.5 billion by 2050. This factor is surging the importance of management service providers in the healthcare sector.

Restraints

Data breach is the major restraining factor that may hamper the market growth during the forecast period. The outsourcing enables a number of persons to have access to the data of huge number of patients. This may lead to data breaches particularly in the IT outsourcing services. Hence, this may constraint the market growth in the upcoming years.

Opportunities

The increased adoption of digital media in the management of hospital in-house services has opened the doors for the adoption and implementation of artificial intelligence technologies that will increase efficiency by eliminating errors.

Challenges

Cybersecurity is a major challenge especially in the IT services of any hospital. A severe cyberattack may put the patient’s life at risk and also result in financial losses to the hospitals. Hence, cybersecurity has an increased importance in today’s digital world.

Market Segmentation

By Service

  • Clinical Services
  • Healthcare IT
  • Transportation Services
  • Business Services
  • Others

By Type

  • Private
  • Public

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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About Us        

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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Artificial Intelligence

Aetina Accelerates Embedded AI with High-performance, Small Form-factor Aetina IA380E-QUFL Graphics Card

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TAIPEI, April 25, 2024 /PRNewswire/ — Aetina, a leading Edge AI solution provider, announced the launch of the Aetina IA380E-QUFL at Embedded World 2024 in Nuremberg, Germany. This groundbreaking product is a small form factor PCIe graphics card powered by the high-performance Intel Arc A380E GPU. 

Unmatched Power in a Compact Design
The Aetina IA380E-QUFL delivers workstation-level performance packed into a low-profile, single-slot form factor. This innovative solution consumes only 50W, making it ideal for space and power-constrained edge computing environments. Embedded system manufacturers and integrators can leverage the power of 4.096 TFLOPs peak FP32 performance delivered by the Intel Arc A380E GPU[1].
Beyond Small Size: Big Capabilities
Despite its compact size, the IA380E-QUFL offers native support for 4 mini-DisplayPort outputs and 6GB of GDDR6 memory, enabling the connection of multiple high-resolution displays (UHD). This makes the IA380E-QUFL an excellent choice for a wide range of applications, including commercial gaming, video walls, medical imaging, and visual inference for smart cities.
“The demand for slim and energy-efficient AI systems is rapidly escalating,” said Jackal Chen, Senior Product Manager at Aetina. “The Aetina IA380E-QUFL addresses this need head-on, offering a powerful GPU solution in a compact, single-slot form factor with minimal power consumption. This empowers developers to create powerful and efficient edge systems for a wide range of applications.”.
Unparalleled Commitment: 5-Year Product Supply
Acknowledging the critical need for long-term product stability in industrial applications, Aetina ensures a 5-year product supply for the Aetina IA380E-QUFL, which streamlines system roadmaps and reduces the need for costly redesign. Our commitment is aligned with Intel’s announced product plans for the Intel Arc A380E GPU.[1]
[1]https://www.intel.com/content/www/us/en/content-details/820389/intel-arc-gpu-for-the-edge-public-30-3-30.html?wapkw=Intel%20Arc%20GPU%2030-3-30&DocID=820389 Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.
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Artificial Intelligence

IG Canada Announces Enhanced Trading Platform for Enhanced User Experience

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Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.

IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053

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Artificial Intelligence

Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment

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This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
 
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
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