Global Real Time Locating System Market – Invention Analysis, Size, Share, Evolution, Styles & Prediction 2024

We have produced a new premium report Real-Time Locating System Market in the Healthcare Industry. The report covers the analysis of global as well as regional markets of Real Time Locating System Market in the Healthcare Industry. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Real Time Locating System Market by the application (employee management, clinical monitoring, asset monitoring and patient safety) through main geographies in the Global Market such as North America, Europe, Asia-Pacific and RoW.

The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encourage the expansion of the Real-Time Locating System Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Real Time Locating System Market are GE Healthcare, IBM, Awarepoint, CenTrak, Emanate Wireless, Stanley Healthcare, Versus Technology, Inc., Teletracking Technologies, Inc., Centrak, Inc. and Sonitor Technologies, Inc.

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North America has Amassed the Growth in Real Time Location System Market in the Healthcare Industry

The global RTLS market in the healthcare industry has been dominated by the North America region over the historic period 2015-16 followed by Europe. The presence of a large number of hospitals, health facilities, and senior living facilities are the key factors driving the growth in this region. The U.S. accounted for major market share in North America.

The fast adoption of RTLS technology in the healthcare sector. Additionally, government support has played a key role in the implementation of real-time location systems in healthcare. Moreover, a growing number of collaborations between non-profit research organizations, medical device industry and regulatory bodies and availability to well-developed healthcare infrastructure is likely to propel the growth in this region. Further, increasing healthcare expenditure is likely to fuel the market over the next seven years. The developing healthcare industries and infrastructure in emerging countries such as India and China is likely to boost the fast growth of the Asia-Pacific region. Says Miss. Hetal Patel a research analyst at Infinium Global Research

The Technology Advancement in Real-Time Location System to Boost the Growth in Healthcare Industry

RTLS offers communication between the local engine and the object to be tracked to provide accurate information about the various assets or objects. The cloud-based application of RTLS in hospitals provides location system is accessible to any authorized staff member and from any computer or mobile device with internet access, the staff member can find equipment from wherever they are, instead of finding a computer loaded with custom locating system software. The technology advancements in RTLS such as improved efficiency across an enterprise and cost savings are likely to boost the growth of the market.

Government Support for Promoting the Usage of Real-Time Location System and Improving Productivity of Inventory Management

Government support for promoting the usage of RTLS and decreasing prices of RTLS components will help the market to grow. Moreover, growing demand for the automated pharmaceutical distribution system, the point of care solutions and electronic medical records is expected to drive the growth of the market. Rising incidents of the expiration of medication due to improper storage and stock outs which results in revenue loss is expected to boost usage rates over the forecast period.

The demand for RTLS is increased due to rise in adoption level of the product in healthcare that helps in improving the productivity of inventory management system and supply chain management to provide appropriate results to track the delivery of the object. The growing necessity of efficient medical devices worldwide is expected to drive the development of the product in the healthcare market in the coming years.

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Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global real-time locating system market in the healthcare industry. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of real-time locating system market in the healthcare industry. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the real time locating system market in the healthcare industry that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the real time locating system market in the healthcare industry to understand the present and future trends in this market and formulate their strategies accordingly.

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