Press release
The Global Surgical Instrument Tracking System Market By Manufacturers, Countries, Type And Application, Forecast To 2029
The Surgical Instrument Tracking System Market is expected to grow at a significant growth rate, and the analysis period is 2022-2028, considering the base year as 2021.
An institution's instrument inventory should be managed at the tray level using a surgical instrument tracking system rather than manual recording and paper trails. For better asset management, use, and auditing, RFID Discovery delivers real-time location data for surgical instruments and endoscopes. By assisting in inventory management and automating tracking at specific points of service, such as assembly, distribution, sterile processing, and others, an instrument tracking system fosters surgical care safety and operational efficiency. Patient safety is improved and user discretion and manual cycle counts are completely eliminated.
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Market Dynamics:
Driver:
Manufacturers are required to track surgical instruments-from manufacturing through the distribution chain. The purpose of device tracking is to ensure that manufacturers of instruments establish tracking systems that will enable them to promptly locate devices in commercial distribution. The UDI (Unique Device Identification) regulations proposed by the US FDA (Food and Drug Administration) are expected to drive growth in the surgical instrument tracking systems market. According to the UDI rules, labellers (manufacturers, reprocessors, specification developers, re-packagers, and relabelers) of surgical instruments are expected to implement direct marking at the individual instrument level.
Opportunities:
Emerging economies such as India, China, and countries across the Middle East, Latin America, and Southeast Asia are expected to offer significant growth opportunities for players in the surgical instrument tracking systems market. The growing healthcare expenditure and improving healthcare infrastructure in these economies are expected to present growth opportunities for market players. The APAC region also offer lucrative investment opportunities for surgical instrument tracking system providers to offshore their business operations and production activities. As a result, in the last few years, several players operating in the surgical instrument tracking systems market have expanded their businesses in these economies. This creates lucrative opportunities for the market.
Key Chapter Will Be Provided In The Report
•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis
•SWOT Analysis
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Market Segmentation
By Components
•Hardware
•Software
•Services
By Technology
•Barcodes
•RFID
By End Users
•Hospitals
•Ambulatory Surgical Centers
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Regional Analysis In Surgical Instrument Tracking System Market
North America dominated the surgical instrument tracking system market. Owing to the increasing adoption of surgical instrument-tracking technology in the hospitals in this region. The introduction of the Unique Device Identification (UDI) by the FDA and the need to reduce healthcare expenditures drive the growth of the surgical instrument tracking system in North America. Increasing the number of surgical procedures and increase in the demand for surgical instrument tracking devices drives the market share.
By Region
•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
•Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of SA)
Players Covered in Surgical Instrument Tracking System Market are:
•Xerafy Singapore Pte Ltd. (Singapore)
•B. Braun Melsungen AG (Germany)
•Ternio Group LLC (US)
•FingerPrint Medical Limited (UK)
•Integra LifeSciences Holdings Corporation (US)
•SpaTrack Medical Limited (UK)
•Getinge AB (Sweden)
•Material Management Microsystems (US)
•Fortive Corporation (US)
•BD (US), and Other Major Players
Key Industry Development In The Surgical Instrument Tracking System Market
In January 2023, SAVI transformed global surgical instrument tracking with Google Cloud- Powered by Vertex AI, SAVI (Semi-Automated Vision Inspection) transformed surgical instrument identification and cataloging, leading to fewer canceled surgeries and easing pressure on surgery waitlists.
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Table Of Content
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Components
3.2 By Technology
3.3 By End User
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Surgical Instrument Tracking System Market by Components
To Be Continued……
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