With 46.9% CAGR, Healthcare Asset Management Market Size is expected to reach USD 370.81 billion by 2029

The winning Healthcare Asset Management report proves to be the finest and most excellent market report as it is generated with a myriad of critical factors. To put the marketplace clearly into focus, the most up-to-date market insights and analyses have been offered via this report. The market data presented in the report helps to recognize different market opportunities present internationally. This market report is also useful when launching a new product or expanding the business regionally or globally. Moreover, it considers both qualitative and quantitative techniques of Healthcare Asset Management market analysis where focus groups or in-depth interviews and customer survey or analysis of secondary data has been carried out respectively.

Data Bridge Market Research analyses that the healthcare asset management market was valued at USD 17.10 billion in 2021 and is expected to reach USD 370.81 billion by 2029, registering a CAGR of 46.9% during the forecast period of 2022 to 2029.

More Insights Available - Healthcare Asset Management Market

Healthcare asset management entails efficiently and cost-effectively managing and maintaining machinery, equipment, and physical assets. Pumps, plumbing, compressors, wheelchairs, refrigeration, generators, condensers, mobile beds, heating, ventilation, and air conditioning (HVAC), and other hospital systems are typically included. It saves time and money, increases asset utilization, locates equipment faster, keeps the right inventory on hand, and promotes employee communication.

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All the industry insights included in this global market report will lead to actionable ideas and better decision-making. Clients can surely rely on the information provided in this report as it is derived only from valuable and genuine resources. The competitive landscape part of the high-quality Healthcare Asset Management business report provides an understandable insight into the market share analysis of key industry players. Further, market share analysis as well as key trend analysis is the main accomplishing factors in this industry analysis report. By thinking from the customer's perspective, a team of researchers, forecasters, analysts, and industry experts work carefully to put together this market research report. Healthcare Asset Management marketing report helps to draw target audiences for the clients before launching any advertising campaign.

Key Segments Covered in the Global Market

The healthcare asset management market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

Radiofrequency Identification (RFID) Devices
Real-Time Location Systems (RTLS)
Ultrasound and Infrared Tags
On the basis of product, the healthcare asset management market is segmented into radiofrequency identification (RFID) devices, real-time location systems (RTLS), ultrasound and infrared tags. Radiofrequency identification (RFID) devices is further sub segmented into hardware, software and services. Hardware is further sub segmented into passive tags and active tags. Active tags is further sub segmented into readers/interrogators, antennas and accessories. Real-time location systems (RTLS) is further sub segmented into hardware, software and services. Hardware is further sub segmented into tags/badges and readers/interrogators.

Application

Hospital Asset Management
Pharmaceutical Asset Management
On the basis of application, the healthcare asset management market is segmented into hospital asset management, pharmaceutical asset management. Hospital asset management is further sub segmented into equipment tracking and management, patient management, temperature and humidity monitoring, staff management and infection control and hand hygiene compliance. Pharmaceutical asset management is further sub segmented into drug anti-counterfeiting and supply chain management.

Healthcare Asset Management Market Dynamics

Drivers
Rising prevalence of fake drugs will propel the growth rate of market during the forecast period.
According to the World Health Organization (WHO), approximately 250,000 children die each year as a result of the use of forged malaria and pneumonia medications. RFIDs and other healthcare asset management systems assist ensure that pharmaceuticals entering pharmacies and hospitals are genuine. RFID tags can readily be buried into medicine labels, allowing for drug tracking throughout the supply chain.

Increasing demand for better asset management in hospitals will drive the market's growth rate.
The increase in demand for better asset management in hospitals will cushion the growth rate of healthcare asset management market. Healthcare organizations all over the world are adopting effective asset management systems and technologies as a result of mounting pressure to effectively manage their existing staff. The majority of healthcare companies spend a significant amount of their cash on hospital equipment tracking.

Furthermore, the reduction in the prices of radiofrequency identification (RFID) tags will act as a major factor influencing the growth of healthcare asset management market. Also, rise in the level of disposable incomes in developing and developed countries and increasing expenditure on healthcare infrastructure are the major market drivers that will further escalate the growth of healthcare asset management market. Another significant factor that will cushion the healthcare asset management market's growth rate is the growing focus of manufacturers on the adoption of advanced technologies. The rise in the number of chronic diseases and increasing concerns for patient safety will flourish the growth rate of hospital asset management market.

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Opportunities
Rising acceptance of asset management solutions in pharmaceutical industry will create new market opportunities in coming years
The global healthcare asset management market is being driven by the rising acceptance of asset management solutions in pharmaceutical industry. In recent years, the pharmaceutical sector has increased its radiofrequency identification (RFID) usage. In international pharmaceutical manufacture and distribution, the technology has evolved into a systematic aspect of supply chain management.

Moreover, the development of IOT based healthcare asset management and advancement in healthcare asset management device technology will provide beneficial opportunities for the healthcare asset management market growth. Additionally, the increasing demand from emerging markets and technological advancements will further expand the healthcare asset management market's growth rate in the future.

Restraints/Challenges Global Healthcare Asset Management Market
High cost associated with healthcare asset management system will hamper the market's growth rate
However, high cost associated with healthcare asset management system will impede the healthcare asset management market's growth rate. Deploying a Healthcare Asset Management system throughout a healthcare center is extremely costly. This is exacerbated by the pandemic, which has caused hospitals to redirect cash from other departments to treat Covid-19 patients. Due to the low priority currently assigned to this sector, scheduled RFID or RTLS system orders may be postponed or cancelled.

Limitations of asset management systems pose a major challenge for the growth of market during the forecast period
Limitations of asset management systems will act a major challenge for the growth rate of healthcare asset management market. The asset management systems' numerous constraints are expected to provide a challenge to demand generation. Furthermore, Infrared (IR) technology can only work if the tag and the sensor have a clear line of sight. This implies that furniture, clothing, and other typical items can block the signal.

On the other hand, organizational and infrastructural facility of healthcare institutions affecting implementation and less awareness will challenge the healthcare asset management market. Additionally, intense competition among market players and issues related to data security and privacy will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

COVID-19 Impact on Healthcare Asset Management Market

There is an ongoing slowdown in the healthcare business as a result of the global outbreak of COVID-19 and the ensuing lockout. COVID-19 wreaked havoc on major world economies, particularly the healthcare sector, in addition to communities. Leading stakeholders continue to modify their policies in response to the rapidly evolving landscape. The healthcare business is expected to be impacted significantly by COVID-19 in the long run.

Until the crisis subsides, countries and important players would have to make significant healthcare changes. Technological advancements, cost containment, and increased access will all be part of healthcare reform in the near future. The ongoing outbreak has given digital health and telemedicine a prominent role. The need of remote diagnosis, care, and consultation was stressed again at COVID-19. Telehealth expansion has stalled in recent years due to regulatory and behavioural constraints. However, because many healthcare practitioners are already experimenting with video conferencing and telephone calls, its popularity is expected to skyrocket in the next two years.

A reliable Healthcare Asset Management market report has been prepared with a thorough market analysis carried out by a team of industry experts, dynamic analysts, skillful forecasters, and well-informed researchers. The superior global Healthcare Asset Management market also includes detailed profiles of the major manufacturers and importers dominating the market.

 Major Key players in this Market

The Healthcare asset management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies' focus on the healthcare asset management market.

Some of the major players operating in the healthcare asset management market AiRISTA Flow, Inc. (US), CenTrak Inc. (US), Novanta Inc. (US), Sonitor Technologies (Norway), STANLEY Healthcare (US), VERSUS TECHNOLOGIES (US), Zebra Technologies Corporation (US), General Electric Company (US), IBM (US), Siemens Healthcare GmbH (Germany), Aeroscout Industrial (US), Awarepoint Corporation (US), Radianse (US), Midmark Corporation (US), McKesson Corporation (US), Cerner Corporation (US),Motorola Solutions, Inc. (US), and Infor, Inc. (US), among others.

By Region, The Market is Segmented as

The healthcare asset management market is analysed and market size insights and trends are provided by country, product and application as referenced above.

The countries covered in the healthcare asset management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the healthcare asset management market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the availability of quality infrastructure for clinical and laboratory research in this region. Additionally, rising adoption of low cost medical systems in clinical diagnostic laboratories will flourish the market's growth rate in this region.

Asia-Pacific is expected to grow during the forecast period due to technological expansion of developing countries and increasing number of middle age population in this region. Rising expenditure on healthcare infrastructure and the emergence of unmet market demand will propel the market's growth rate in this region.

Important Sections from the Table of Contents

Global Healthcare Asset Management Market Overview
Economic Impact on Industry
Healthcare Asset Management Market Competition by Manufacturers
Production, Revenue (Value) by Region
Supply (Production), Consumption, Export, Import by Regions
Production, Revenue (Value), Price Trend by Type
Market Analysis by Application
Manufacturing Cost Analysis
Industrial Chain, Sourcing Strategy, and Downstream Buyers
Marketing Strategy Analysis, Distributors/Traders
Market Effect Factors Analysis
Global Healthcare Asset Management Market Forecast

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The Healthcare Asset Management Market Report gives answers to the following questions:

What market segments are covered in Healthcare Asset Management Market report?
Who are the major players operating in the Healthcare Asset Management Market?
What is the future market value for Healthcare Asset Management Market?
What is the growth rate of the Healthcare Asset Management Market?
What are the major countries covered in the Market?
Which are the major market drivers for Healthcare Asset Management Market?
What are the upstream raw materials and manufacturing equipment of Healthcare Asset Management along with the manufacturing process of Healthcare Asset Management?
Economic impact on the Healthcare Asset Management industry and development trend of the Healthcare Asset Management industry.
What are the market opportunities, market risk, and market overview of the Healthcare Asset Management market?

Customization Available: Global Healthcare Asset Management Market

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