Adoption of Sponge Detection System Market To Surge During Forecast Period Owing To Increased Consumer Demand : Fact.MR

According to a new report published by Fact.MR - a market research and competitive intelligence provider, the global sponge detection system market was valued at US$ 107 Mn in 2020, and is predicted to expand at a CAGR of 5.7% during the forecast period (2021-2031).

Retention of surgical sponges inside a patient's body is considered a major medical error by the World Health Organization (WHO). Retained surgical sponge is the most dangerous among all due to complications of severe. The sponge gets easily retained since it is small in size, and once it gets soaked in blood, it is difficult to separate from the surrounding tissues.

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Segments Covered in Sponge Detection System Market Insights

Technology
Computer-assisted Sponge Count Devices
Radiofrequency Sponge Detection Systems
Radiofrequency Identification Sponge Detection Systems

Modality
Hand-held Sponge Detection Systems
Bench Top Sponge Detection Systems

Product Type
Sponge Detecting Systems
Body Scanners
Room Scanners
Application

Sponge Detection Systems for Abdominal Surgeries
Sponge Detection Systems for General Surgeries
Sponge Detection Systems for Gastrointestinal Surgeries
Sponge Detection Systems for Cardiac Surgeries
Sponge Detection Systems for Gynaecology and Obstetrics Surgeries
Sponge Detection Systems for Orthopedic & Arthroscopy
Sponge Detection Systems for Neurology

End User
Sponge Detection Systems for Hospitals
Sponge Detection Systems for Clinics
Sponge Detection Systems for Ambulatory Surgical Centers

There are no known procedures to completely reduce the risk of retained sponges, though sponge detection systems can decrease the incidence rate. Growth in demand for sponge detection systems is mainly driven by increasing need for control and prevention measures during surgery. Rising cases of emergency surgeries, lack of awareness among surgeons, and favorable reimbursement policies are also driving market growth.

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Key Takeaways from Market Study

Radiofrequency detection systems are expected to gain more than 41% revenue share in the market by 2031 expanding at a CAGR of 4.5% over the forecast period (2021-2031).

Sponge detection systems are widely used during abdominal surgeries; thus it is gaining the largest share among all applications with a projected market share of 24.7% by the end of 2031.

Among all the end users, hospitals are expected to account for more than 46% of the market share, owing to rising awareness for controlling the number of retained surgical sponges after surgery.

North America held a major share in the global market for sponge detection systems in 2020, and a similar trend is expected to continue during the forecast period due to higher adoption of advanced systems in healthcare facilities and increase in healthcare expenditure in the region.

Manufacturers are actively involved in portfolio expansion and collaboration with various companies to gain a larger market share.

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Market Competition

Key players are competing to increase their market share, and continue to depend on collaborations, acquisitions, alliances, and product launches to provide access to new technologies in both, new and existing markets.

Key manufacturers are entering into strategic agreements with leading players to expand their product portfolios across countries.

For instance, in 2016, Haldor Advanced Technologies Ltd. signed an exclusive distribution agreement with Hill-Rom. The agreement covers the exclusive global distribution of ORLocate suite of products and technology.

Source - https://www.factmr.com/report/2566/sponge-detection-system-market

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