Wireless Healthcare Asset Management Market to Grow at a CAGR of 8.40% by 2023: Top Key Vendors - EKAHAU, STANLEY HEALTHCARE, CENTRACK, CAMCODE, ASAP SYSTEMS, AIRISTA FLOW, GE HEALTHCARE, IBM

Global Wireless Healthcare Asset Management market is projected to register a CAGR of 8.40%, during the forecast period (2018 - 2023). The scope of the report is limited to Type of products offered by major players, which involves Asset Tags, Wearable Tags, and Wireless Sensors. While the Technology considered in the scope of the report include RFID, Wi-Fi, ZigBee.

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The implementation of wireless healthcare asset management systems has been growing owing to the advent of trends, such as internet of things, digitization and automation of various processes. These changes can aid in reducing the loss of expensive hospital equipment, which can lead to high capital losses. The employment of separate staff necessary for the monitoring and keeping track of equipment can also be avoided, which could prove as an extra expense for hospital. The implementation of such technology increases the visibility of devices, which can reduce the amount of time spend for sorting and organizing required equipment to avoid wastage of time.

Key Developments In The Market
March 2018 u2013 Accruent has acquired Connectiv to provide bio medical and device management technology. Connectiv has making asset management devices to control and manage assets through the hospital
October 2017 u2013 GSK has acquired Novartis for USD 13 billion and has taken control of its entire product portfolio including Sensodyne Pandol, Nicotinell etc.

The major players include –
CISCO SYSTEMS INC., EKAHAU, STANLEY HEALTHCARE, CENTRACK, CAMCODE, VERIZON ENTERPRISE SOLUTIONS, AWAREPOINT CORPORATION, ASAP SYSTEMS, AIRISTA FLOW, GE HEALTHCARE, IBM CORPORATION, INFOR INC, MOTOROLA SOLUTIONS, RADIANSE, SIEMENS HEALTHINEERS, and SONITOR TECHNOLOGIES, amongst other.

Need For Elimination of Unwanted Expense for Asset Tracking Drive Growth of the Market
Real-time asset monitoring solution provides the ability to control frequently changing situations and to see across the hospital organizations in order to understand the workflow. From maintenance to procurement and even managing the database of single software, each IT hardware equipment introduces incalculable vulnerabilities. Multiplying these risks by thousands and even millions of servers, computers, sensitive equipment and other storage devices, the magnitude of probabilities for security breaches, auditing mistakes, mismanagements, and manpower, among other critical resource diversions, inflates exponentially.

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Asset Tags are One of the Most Widely Used Product Among Hospital Asset Management.
Asset tags have been implemented to keep track of every item in the inventory and avoid loss of assets. Many healthcare institutions have utilized latest technologies, such as NFC, and legacy technologies, such as RFID has been deployed to keep track of all the things that are being used in hospital domain. Hospitals, such as Michigan Medicine have employed the use of active RFID technology to track thousands of assets. This is expected to reduce the hospitals rental costs and loss of equipment from the hospital premises. The Michigan Medical hospital has registered a total of 6500 assets, which could prove extremely difficult for the hospital personnel to maintain. This also enables the hospitals to move towards IoT in medical care as most of the devices in the hospital are connected.

Asia Pacific has High Growth Potential Owing to the Growing Use of Data in the Region
The digital technology industry provides the foundation for information exchange in healthcare, among other sectors in the region. IoT is predicted to undergo massive growth in the coming years, with mobile technologies playing a vital role in enabling the industry to grow. Owing to such developments in IoT and mobile technologies the healthcare industry in the region, growth for wireless healthcare asset management is expected to have growth. The advanced industries sector is highly metropolitan, and it varies considerably in its composition and depth across the regions.

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