Hospital Asset Tracking and Inventory Management Systems Market 2024-2033: Growth Trends and Report Analysis

The hospital asset tracking and inventory management systems market size has grown strongly in recent years. It will grow from $27.86 billion in 2023 to $30.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to cost reduction pressures, increasing complexity of healthcare operations, patient safety concerns, rise of data analytics, increasing healthcare expenditure.

The hospital asset tracking and inventory management systems market size is expected to see strong growth in the next few years. It will grow to $39.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to integration with electronic health records (EHR), remote monitoring and management, demand for real-time visibility, focus on sustainability, global health events impact. Major trends in the forecast period include artificial intelligence (AI) applications, emergence of blockchain technology, technological advancements, adoption of rid technology, data analytics for operational insights, utilization of cloud-based solutions.

Market Overview -
Hospital asset tracking and inventory management systems use sensors and tags that track the assets of the hospitals, provide real-time data, and play a crucial role in locating medical equipment in times of emergency in hospitals.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=7461&type=smp

Rising Patient Load Spurs Surge In Hospital Asset Tracking Systems Market
The growing load of patients in hospitals has contributed to the growth of the hospital asset tracking and inventory management systems market going forward. The COVID-19 pandemic and lifestyle diseases, as well as other illnesses, including cancer, are brought on by the increasing number of people in hospitals who require hospitalization. An increase in the number of patients has increased the demand for equipment and inventory, which in turn is driving the growth of asset tracking and inventory management systems. As per data by the National Institutes of Health (NIH), an agency of the US government, 9,00,000 COVID-19 hospitalizations occurred in November 2020 and were attributed to the conditions of obesity, hypertension, diabetes, and heart failure in the United States. Also, according to data by National Center for Health Statistics, a US-based government agency, in 2022, 1,918,030 new cancer cases are forecasted in the United States. Therefore, the growing load of patients in hospitals is driving the growth of the hospital asset tracking and inventory management systems market.

Competitive Landscape -
Major companies operating in the hospital asset tracking and inventory management systems market report are IBM Corporation, Honeywell International Inc., Siemens Healthineers AG, GE Healthcare, Tyco International plc, Stanley Black & Decker, Avery Dennison Corporation, ZIH Corp, Zebra Technologies Corporation, Qorvo Inc., ThingMagic (Trimble Inc.), Infor Inc., CenTrak (Halma plc), Alcatel-Lucent Enterprise, Epicor Software Corporation, Jadak- A Novanta Company, Midmark Corporation, Ascom Holding AG, Impinj Inc., Elpas Solutions, Identiv Inc., Sato Holdings Corporation, Alien Technology, Censis Technologies, Mobile Aspects, Ekahau Inc., AiRISTA Flow Inc, Sonitor Technologies Inc, Cybra Corporation, LogiTag Systems, Solstice Medical

The Rise Of Rtls In Hospital Asset Tracking Systems Market
The growing implementation of real-time locating systems (RTLS) is a key trend gaining popularity in the hospital asset tracking and inventory management systems market. Major companies operating in the hospital asset tracking and inventory management systems sector are focused on the implementation of real-time locating systems (RTLS) to strengthen their position in the market. For instance, in January 2021, Midmark RTLS, a US-based RTLS technology solutions company launched a Bluetooth low-energy cloud-based asset tracking solution that modernizes asset tracking capabilities for hospitals. This innovative solution supports hospital staff to find the required equipment quickly and effectively. The development of this innovative technology by Midmark RTLS is another step forward in the hospital asset tracking and inventory management systems market.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/hospital-asset-tracking-and-inventory-management-systems-global-market-report

Key Segments -
The hospital asset tracking and inventory management systems market covered in this report is segmented -
1) By Product Type: Mobile, Fixed, Other Inventory
2) By Technology: Hardware, Software
3) By Application: Equipment or Device or Supplies Tracking, Equipment Maintenance

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.