RTLS for Healthcare Market Driven By Intelligent InSites, Sanitag, Sonitor Technologies, Stanley Healthcare, Teletracking Technologies, CenTrak

According to The Insight Partners market research study titled ‘RTLS for healthcare Market to 2027 – Global Analysis and Forecasts by Technology, Facility Type and Application.’ The global RTLS for healthcare market is expected to reach US$ 6,384.45 Mn in 2027 from US$ 1,455.73 Mn in 2018. The market is estimated to grow with a CAGR of 18.6% from 2019-2027. The report highlights the trends prevalent in the global RTLS for healthcare market and the factors driving the market along with those that act as deterrents to its growth.

The RTLS or real-time location system technology facilitates detection and tracking of the location of objects and people in real-time. The technology is widely popular across many verticals such as defense, retail, supply chain management and healthcare. The inculcation of these technologies in healthcare is increasingly gaining traction for improved services in hospitals and high returns on investment. The growth of the RTLS in healthcare market is attributed to the increased market competitiveness with the emergence of start-ups and benefits associated with RTLS. On the other hand, factor such as data security and privacy concerns associated with RTLS are limiting the growth of the market.

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The major players operating in the RTLS for healthcare market include, CenTrak, Impinj, Inc., Intelligent InSites, Aruba (Hewlett Packard Enterprise Development LP), Midmark Corporation, Sanitag, Sonitor Technologies, Stanley Healthcare and Teletracking Technologies among the others. The market has witnessed various organic as well as inorganic developments during recent years in the RTLS for healthcare market.

For instance, in July 2018, Zebra Technologies Corporation, the market leader in rugged mobile computers, barcode scanners and barcode printers enhanced with software and services to enable real-time enterprise visibility, announced two new healthcare barcode printing solutions that can identify patients and specimens at the point of care.

Global RTLS for healthcare market, based on the application, was segmented as, inventory and asset tracking, patient and staff tracking, access control and security, environment monitoring, supply chain management and operation automation and others. In 2018, inventory and asset tracking held the largest share of the market, by application. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. The benefits such as RTLS can automate inventory control, and thus this reduces the physically managing inventory which are labor-intensive, costly, and time-consuming these factors are anticipated to lead to the growth of the segment during the forecast period.

Real time location systems (RTLS) have become the foundation for applications that boost efficiency, productivity, and safety in every industry. RTLS helps employees to focus on activities that bring more value to the organization. It enables to locate and track assets accurately, and people allows processes to be optimized. This insight viewed through a digital prism the development of digital transformation, many options and standards have appeared. Bluetooth, LTE, UWB, and Zigbee provide a great service to businesses despite using different methods.

There are many such startups in India, USA, Europe, and other regions who are helping this market to grow with huge competitions. Startups are making significant progress which offers a well-thought-out embedded location platform. UWINLOC is another new startup that designed a semi-passive UWB solution that can ultimately compete on price with passive RFID, also providing similar benefits to an active technology within energy harvesting. Therefore, startups always discover ways to cost-effectively implement the technology without compromising on performance.

RTLS in Healthcare Market – by Technology

Software Solution
Hardware
Services
RTLS in Healthcare Market – by Facility Type

Robot Assisted Surgery
Virtual Assistants
Administrative Workflow Assistants
Connected Machines
Diagnosis
Clinical Trials
Fraud Detection
Cybersecurity
Dosage Error Reduction
Others
RTLS in Healthcare Market – by Application

Hospitals & Healthcare Providers
Patients
Pharma & Biotech Companies
Healthcare Payers

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This release was published on openPR.