As per this study, the Global Hospital Asset Tracking And Inventory Management Systems Market was valued USD 28.31 BN (by revenue) in 2022 and is anticipated to reach USD 45.13 BN by 2030 with a CAGR of 6%.
Hospital asset tracking and inventory management systems help in minimizing healthcare cost by maximizing the use of inventory or available resource. These systems also help in reducing the total fixed cost by enhancing the use of available resources. It manages mobile, fixed and other inventory available in the hospital, which include wheelchairs, mobile beds, stretchers, imaging, surveillance camera, and others. Additionally, applications of hospital asset tracking and inventory management systems include hardware such as RFID, barcode scanners and computers and software such as IoT, analytics, and others.
Market Dynamics
The growing healthcare industry coupled with an increasing need for better asset management in hospitals is driving the market growth. Acceptance of these management systems in the pharmaceutical industry is again accelerating market growth. Additionally, the reduction in the cost of RFID tags is further fuelling market growth. On the other hand, lack of awareness and cybersecurity breach associated with asset tracking and inventory management system may hinder market growth. Whereas, technological advancements and penetration in emerging economies are expected to offer an opportunity during the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of hospital asset tracking and inventory management systems.
Market Segmentation
The broad hospital asset tracking and inventory management systems market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product
- Mobile (Wheelchairs, Mobile Beds, Stretchers, Microscopes, Patient Monitoring Devices, IV Pumps, Medical Pendant, Others)
- Fixed (Imaging, Surveillance Camera, Surgical Navigation Systems, Others)
- Other Inventory (Clinical Supplies, Medical Devices, Medical supplies, Others)
By Technology
- Hardware (RFID, Barcode Scanners, Computers, Others)
- Software (IoT, Analytics, Others)
By Application
- Equipment/Device/Supplies Tracking
- Equipment Maintenance
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for hospital asset tracking and inventory management systems in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Hospital Asset Tracking And Inventory Management Systems Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Hospital Asset Tracking And Inventory Management Systems market include ZIH Corp, ASCOM, CenTrak, Midmark Corporation, GE Healthcare, Honeywell International Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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