Major companies operating in the hospital asset tracking and inventory management systems market are innovating products, such as healthcare asset management to enhance efficiency, reduce costs, and improve patient care

Which drivers are expected to have the greatest impact on the over the hospital asset tracking and inventory management systems market's growth?
The hospital asset tracking and inventory management systems market is witnessing growth, fueled by the rising patient load in hospitals. This escalation has been caused primarily by the COVID-19 pandemic and lifestyle-related diseases, including other sicknesses like cancer, which heighten the need for hospitalization. A surge in patient count also means an increased demand for equipment and inventory, consequently stimulating the expansion of the asset tracking and inventory management systems. For example, data from the Nuffield Trust, a UK-based charity, revealed an increase in the proportion of patients in England's private hospitals. It rose from 5.6% before the pandemic to 7.5% in the 2022/23 period. This upsurge in hospital patients, therefore, acts as a significant propulsion for the growth of the hospital asset tracking and inventory management systems market.

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What is the future CAGR of the hospital asset tracking and inventory management systems market, and how will it impact industry expansion?
In recent times, the market size for hospital asset tracking and inventory management systems has seen substantial growth. It's predicted to increase from $30.25 billion in 2024 to $32.52 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 7.5%. The growth experienced in the past can be credited to factors such as pressure to reduce costs, the increasing intricacy of healthcare operations, concerns for patient safety, the rise of data analytics, and increasing expenditure in healthcare.

The market size of the hospital asset tracking and inventory management systems is anticipated to exhibit robust growth in the coming years. Its worth is predicted to elevate up to $43.24 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%. The forecasted growth is rooted in the integration with electronic health records (EHR), the capability of remote monitoring and management, the necessity for real-time visibility, a focus on sustainability, and the influence of global health events. Dominant trends during the forecast period will be AI applications, the rise of blockchain technology, technological advancements, the implementation of RFID technology, data analytics to gain operational insights, and the use of cloud-based solutions.

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What are the most significant trends transforming the hospital asset tracking and inventory management systems market today?
Leading corporations within the hospital asset tracking and inventory management systems market are launching innovative products such as healthcare asset management. This movement aims to boost operational efficiency, curtail expenditures, and elevate patient care levels. Healthcare asset management is a methodized process to manage and control the assets belonging to a healthcare organization, such as medical machinery, facilities, IT framework, and human resources. For example, TRIMEDX, an American biotechnology firm, rolled out GeoSense in April 2024, an advanced Real-Time Location System (RTLS) specifically tailored for healthcare asset management. This groundbreaking system provides room-level precision in tracking medical devices, consequently cutting down search times by approximately 50%, thus enabling medical staff to devote more time to patient care. GeoSense harmoniously merges with TRIMEDX's existing data platforms and features a user-friendly mobile app for instantaneous device location at the point of care.

Which key market segments comprise the hospital asset tracking and inventory management systems market and drive its revenue growth?
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

Subsegments:
1) By Mobile: Mobile Asset Tracking Devices, Mobile Inventory Management Applications
2) By Fixed: Fixed Asset Tracking Systems, Fixed Inventory Management Solutions
3) By Other Inventory: RFID-based Inventory Systems, Barcode-based Inventory Management, Manual Inventory Management Systems

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What regions are at the forefront of hospital asset tracking and inventory management systems market expansion?
North America was the largest region in the hospital asset tracking and inventory market in 2024. The regions covered in the hospital asset tracking and inventory management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the hospital asset tracking and inventory management systems market?
Major companies operating in the hospital asset tracking and inventory management systems market include 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

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What Is Covered In The Hospital Asset Tracking and Inventory Management Systems Global Market Report?

•Market Size Forecast: Examine the hospital asset tracking and inventory management systems market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the hospital asset tracking and inventory management systems market for a structured understanding.
•Key Players Overview: Analyze major players in the hospital asset tracking and inventory management systems market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hospital asset tracking and inventory management systems market.
•Segment Contributions: Evaluate how different segments drive overall growth in the hospital asset tracking and inventory management systems market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hospital asset tracking and inventory management systems market.
•Industry Challenges: Identify potential risks and obstacles affecting the hospital asset tracking and inventory management systems market.
•Competitive Landscape: Review strategic developments in the hospital asset tracking and inventory management systems market, including expansions, agreements, and new product launches.

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