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Artificial Intelligence in Healthcare Market Size|Industry 2020-27
According to a new 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.
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Global RTLS for healthcare market, based on technology is segmented into RFID, Wi-Fi, Bluetooth, GPS, UWB, Others. In 2018, Ultra-Wide Band (UWB) led the market by the technology type. In addition, the segment is also expected to grow at a significant rate, as UWB help healthcare practitioners increase their efficiency and productivity by producing critical analytics, executive dashboards, alerts and reports for better understanding.
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. In July 2019, TeleTracking Technologies, Inc. entered into a collaboration with B. Braun Medical Inc. for the combination of their Space Infusion Pump Systems with TeleTracking's RTLS Asset Tracking solution. This interoperability is intended to improve workflow and optimize pump utilization.
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