Growth Of Real-Time Location Systems In Healthcare Driven By Increasing Patient Numbers: A Key Factor Shaping the Future of the Real Time Location System In Healthcare Market in 2025

What Are the Projections for the Size and Growth Rate of the Real Time Location System In Healthcare Market?
The size of the real-time location system in the healthcare market has seen significant growth in recent times. It's projected to rise from $3.19 billion in 2024 to $3.9 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 22.3%. The growth during the historical period can be linked to a heightened demand for asset tracking, an emphasis on streamlining work processes, a rising need for enhanced patient safety, efforts to improve safety and security for patients, and a government focus on upgrading healthcare systems.

The market size of real-time location systems in healthcare is predicted to witness substantial expansion in the coming years, reaching $8.62 billion by 2029 with an annual compound growth rate (CAGR) of 22.0%. The growth trajectory in the forecast period is influenced by several factors including global population growth, an increasing patient count, the surge in demand for refined patient care and safety, the healthcare industry's adoption of the RTLS, global increase in healthcare expenditures, and governmental emphasis on healthcare system modernization. Key trends observed during the forecast period include enabling healthcare professionals to track medical equipment through technology, investments in technologies like RTLS, technological progression, integration of Ultra-Wideband (UWB) technology, and the combination of artificial intelligence and machine learning with RLTS.

What Are the Forces Behind the Rapid Growth of the Real Time Location System In Healthcare Market?
The increase in cancer patients is anticipated to drive the expansion of the real-time location system in the healthcare industry. These patients are diagnosed with cancer, a series of diseases marked by abnormal cell growth and dissemination within the body. The surge in cancer patient statistics is attributable to an older population, lifestyle contributions, genetic susceptibility, and healthcare accessibility. Real-time location systems (RTLS) play a key role in implementing a more effective, well-coordinated, and patient-focused strategy in the management of cancer patients. This ultimately enhances patient outcomes and experiences in the healthcare sector. As an example, in May 2024, the National Institutes of Health (NIH), a US governmental agency, predicts there will be approximately 18.1 million cancer survivors. This constitutes about 5.4% of the 2022 population and is expected to rise by 24.4% to 22.5 million by 2032, then to 26.0 million by 2040. Therefore, the escalating number of patients propels the development of the real-time location system in the healthcare market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15914&type=smp

Which Businesses Are at the Forefront of Real Time Location System In Healthcare Market Development?
Major companies operating in the real time location system in healthcare market are Cisco Systems Inc., Oracle Corporation, GE HealthCare Technologies Inc., Securitas AB, Zebra Technologies Corporation, Aruba Networks, Impinj Inc., Midmark Corporation, TeleTracking Technologies Inc., CenTrak Healthcare Inc., Alien Technology, Enlighted Inc., Kontact.io, Savi Technology Inc., purple.ai, Identec Solutions AG, Ekahau Inc., Ubisense Group PLC, Inpixon Inc., Sonoitor Technologies Inc., Vizzia Technologies, AiRISTA Flow Inc., Tagnos Inc., Awarepoint Corporation

What Are the Latest Innovations in the Real Time Location System In Healthcare Market?
Leading companies in the healthcare sector, active within the real-time location system for the healthcare market, are concentrating their efforts on the advancement of AI-powered digital technologies. This facilitates improved tracking of patients, operational productivity, and general care quality, resulting in enhanced patient outcomes and more efficient resource management. These AI-powered digital solutions utilize artificial intelligence to analyze data, streamline procedures, and generate useful insights. A prime example is Astra Zeneca, a UK-based biopharmaceutical company, which introduced Evinova in November 2023. This new health-tech venture aims to boost innovation within the life sciences sector, with a focus on enhancing clinical trial processes and patient health results. Evinova intends to quickly bring to market digital technology solutions that AstraZeneca has successfully implemented and scaled up globally. This will enable more efficient clinical trial design and implementation, leading to a decrease in the time and cost of developing new medications. This also brings care provision closer to patients' homes and reduces the strain on healthcare systems. Additionally, Evinova plans to explore opportunities in digital remote patient monitoring and digital therapeutics and has a roadmap for digital innovations in these fields.

How Is the Real Time Location System In Healthcare Market Segmented?
The real time location system in healthcare market covered in this report is segmented -

1) By Offering: Hardware, Software, Service
2) By Technology: Radio Frequency Identification (RFID), Wi-Fi, Ultra-Wideband (UWB), Bluetooth Low Energy (BLE), Infrared, Ultrasound, Other Technologies
3) By Facility Type: Hospitals And Healthcare Facilities, Senior Living Facilities
4) By Application: Inventory Or Asses Tracking And Monitoring, Personnel Locating And Monitoring, Access Control And Security, Environmental Monitoring, Supply Chain Management And Automation, Other Applications

Subsegments:
1) By Hardware: Tags And Sensors, Readers And Antennas, Gateways
2) By Software: RTLS Software Platforms, Data Analytics Software, Monitoring And Reporting Software
3) By Service: Installation And Integration Services, Maintenance And Support Services, Consulting And Training Services

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/real-time-location-system-in-healthcare-global-market-report

Where Is the Real Time Location System In Healthcare Market Growth Most Prominent?
North America was the largest region in the real time location system in healthcare market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the real time location system in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Is Covered In The Real Time Location System In Healthcare Global Market Report?

- Market Size Analysis: Analyze the Real Time Location System In Healthcare Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Real Time Location System In Healthcare 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 Real Time Location System In Healthcare Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Real Time Location System In Healthcare Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=15914

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.