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Projected Growth in Hospital Asset Tracking and Inventory Management Systems Amid Increasing Patient Load: Global Market Size, Forecasts, and Key Trends
Projected Growth in Hospital
The Rise of Efficient Healthcare Asset Management Systems Amid Increasing Patient Load in Hospitals
What Is The Projected Market Size Of The Global Hospital Asset Tracking and Inventory Management Systems Market And Its Growth Rate?
• 2024 Market Size: $30.25 billion
• 2025 Market Size: $32.52 billion (7.5% CAGR)
• 2029 Market Size: $43.24 billion (7.4% CAGR)
The increase in market size can be attributed to cost reduction pressures, increasing complexity of healthcare operations, and rising patient safety concerns.
What Is Driving the Growth In The Hospital Asset Tracking and Inventory Management Systems Market?
The increasing load of patients in hospitals is a major factor contributing to the growth of the hospital asset tracking and inventory management systems market. The COVID-19 pandemic and lifestyle diseases, including cancer, have led to an upsurge in hospitalizations, thereby increasing the demand for equipment and inventory. This trend has subsequently amplified the need for efficient asset tracking and inventory management systems. The Nuffield Trust reported an increase in the percentage of patients in private hospitals in England from 5.6% pre-pandemic to 7.5% in the 2022/23 period, indicating an increase in patient load and concurrently, the market growth.
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Who Are the Key Players Driving Hospital Asset Tracking and Inventory Management Systems Market Growth?
• IBM Corporation
• Honeywell International Inc.
• Siemens Healthineers AG
• GE Healthcare
• Stanley Black & Decker
• Avery Dennison Corporation
• Zebra Technologies Corporation
• ThingMagic (Trimble Inc.)
• Infor Inc.
• CenTrak (Halma plc)
• 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
What Are The Key Trends In The Hospital Asset Tracking and Inventory Management Systems Market?
• Integration with Electronic Health Records (EHR)
• Remote monitoring and management
• Demand for real-time visibility
• Focus on sustainability
• Impact of global health events
• Adoption of AI applications
• Emergence of blockchain technology
• Technological advancements
• Adoption of RFID technology
• Data analytics for operational insights
• Utilization of cloud-based solutions
What Are The Segments Of The Global Hospital Asset Tracking and Inventory Management Systems Market?
• By Product Type: Mobile, Fixed, Other Inventory
• By Technology: Hardware, Software
• By Application: Equipment Or Device Or Supplies Tracking, Equipment Maintenance
Which Region Leads The Hospital Asset Tracking and Inventory Management Systems Market?
North America was the largest region in the Hospital Asset Tracking and Inventory Management Systems market in 2024. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Hospital Asset Tracking and Inventory Management Systems Market Global Market Report?
- Market Size Analysis: Analyze the Hospital Asset Tracking and Inventory Management Systems Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hospital Asset Tracking and Inventory Management Systems Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hospital Asset Tracking and Inventory Management Systems Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hospital Asset Tracking and Inventory Management Systems Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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