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A Deep Dive into Real Time Location System In Healthcare Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
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The growing number of cancer patients is expected to boost the real-time location system in healthcare market. The rise in cancer diagnoses is due to factors such as aging populations and lifestyle choices. Real-time location systems help manage cancer patient care more efficiently by improving coordination and patient experiences. For example, the National Institutes of Health estimated that there were 18.1 million cancer survivors in 2022, with projections for this number to grow to 22.5 million by 2032. The increasing number of cancer patients is driving the growth of the real-time location system market.
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What is the projected compound annual growth rate (CAGR) of the real time location system in healthcare market from 2025 to 2034, and what factors influence it?
The real-time location system in healthcare market has grown exponentially in recent years. It is expected to grow from $3.19 billion in 2024 to $3.9 billion in 2025, at a CAGR of 22.3%. The expansion is due to increasing demand for asset tracking, the focus on workflow optimization, improved patient safety, enhanced security for patients, and government initiatives to modernize healthcare systems.
The real-time location system (RTLS) in healthcare market will grow to $8.62 billion by 2029 with a CAGR of 22.0%. Growth is driven by the growing global population, higher patient numbers, enhanced patient care demand, healthcare modernization, and global healthcare spending. Trends include the adoption of RTLS, investments in technologies, AI and machine learning integration, and Ultra-Wideband (UWB) technology.
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How are the latest trends influencing the growth of the real time location system in healthcare market?
Major healthcare companies in the real-time location system for healthcare market are developing AI-enabled digital technologies to improve patient tracking, operational efficiency, and care quality. These technologies use AI to analyze data and automate processes. In November 2023, AstraZeneca, a UK-based biopharma company, launched Evinova, a new health-tech initiative aimed at optimizing clinical trial designs and improving patient outcomes. Evinova will also focus on remote patient monitoring and digital therapeutics to improve health outcomes.
What are the major segments of the real time location system in healthcare market and their role in driving growth?
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
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Which regions are key players in the growth of the real time location system in healthcare market?
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.
Who are the key firms paving the way for growth in the real time location system in healthcare market?
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
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What Is Covered In The Real Time Location System In Healthcare Global Market Report?
•Market Size Forecast: Examine the real time location system in healthcare market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the real time location system in healthcare market for a structured understanding.
•Key Players Overview: Analyze major players in the real time location system in healthcare market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the real time location system in healthcare market.
•Segment Contributions: Evaluate how different segments drive overall growth in the real time location system in healthcare market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the real time location system in healthcare market.
•Industry Challenges: Identify potential risks and obstacles affecting the real time location system in healthcare market.
•Competitive Landscape: Review strategic developments in the real time location system in healthcare market, including expansions, agreements, and new product launches.
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