Strong Growth Ahead: Hospital Asset Management Systems Market Size To Grow At Arecord 26.2% Cagr By 2029

The Hospital Asset Management Systems Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Hospital Asset Management Systems Market Size Expected to Be by 2034?
The market size of hospital asset management systems has seen substantial growth recently. This growth is projected to increase from $26.57 billion in 2024 to $32.61 billion in 2025, marking a compound annual growth rate (CAGR) of 22.7%. This significant growth during the historic period can be tied back to factors such as regulatory adherence, cost-cutting measures, escalating healthcare expenses, patient safety, and control over inventory.

Expectations are high for the hospital asset management systems market, as forecasts predict robust growth in the coming years. It is projected that by 2029, the market size will reach $82.61 billion, exhibiting a compound annual growth rate (CAGR) of 26.2%. This expansion during the forecasted period can be credited to several factors such as the merging with digital medical records, developments in artificial intelligence (AI) and predictive analytics, readiness for international health emergencies, developments in telehealth and remote patient monitoring, and energy conservation and sustainability. The primary trends set to mark this period are the use of blockchain technology, cooperations and data interoperability, the application of digital twins for medical equipment, the use of big data analytics for asset enhancement, the development of accessible interfaces, and professional training.

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What Are the Emerging Segments Within the Hospital Asset Management Systems Market?
The hospital asset management systems market covered in this report is segmented -

1) By Product Type: Radio-Frequency Identification (RFID), Real-Time Location Systems (RTLS), Ultrasound And Infrared Tags
2) By Application: Patient Management, Equipment Tracking And Management, Temperature And Humidity Control, Infection Control And Hygiene Compliance, Staff Management, Pharmaceutical Asset Management, Other Applications
3) By End-Use: Hospitals, Laboratories, Other End Users

Subsegments:
1) By Radio-Frequency Identification (RFID): Passive RFID Tags, Active RFID Tags, RFID Readers And Software
2) By Real-Time Location Systems (RTLS): Infrared RTLS, Ultrasound RTLS, GPS RTLS, Zigbee RTLS
3) By Ultrasound And Infrared Tags: Ultrasound Tags, Infrared Tags, Hybrid Tags (Combining Ultrasound And Infrared Technologies)

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What Long-Term Drivers Are Shaping Hospital Asset Management Systems Market Trends?
The hospital asset management systems market is predicted to surge on the back of a growing count of hospitals. These institutions are designed, staffed, and equipped to diagnose illnesses, carry out medical and surgical treatments for the sick and injured, and provide accommodation during the entire process. The increased hospital counts are due to high hospitalization rates, ICU stays, growing oxygen need, and a surge in chronic disease cases. Hospital asset management systems effectively manage hospitals' assets, ensuring they are adequately used, maintained, and tracked. For instance, the American Hospital Association reported that the total number of hospitals in the US increased from 6,090 in 2021 to 6,129 in 2023 in May 2023. Similarly, the count of community hospitals went up from 3,453 in 2021 to 3,514 in 2023. As a result, the booming count of hospitals is spurring the growth of the hospital asset management systems market.

Who Are the Top Competitors in Key Hospital Asset Management Systems Market Segments?
Major companies operating in the hospital asset management systems market include McKesson Corporation, International Business Machines Corporation, Honeywell International Inc., Siemens Healthineers, GE Healthcare Technologies Inc., Zebra Technologies Corporation, Cerner Corporation, Trimble Inc., Philips Healthcare, Hill-Rom Holdings Inc., Midmark Corporation, Stanley Healthcare, Ascom Holding AG, Accruent LLC., Identiv Inc., RF Technologies Inc., CenTrak Inc., Fiix, Ekahau Inc., Jadak Technologies Inc., SmartPoint Technologies Pvt Ltd., Asset Panda, AiRISTA Flow Inc., Versus Technology Inc., Asset infinity, InnoMaint, Ezofficeinventory, Sonitor Technologies AS

What Hospital Asset Management Systems Market Trends Are Gaining Traction Across Different Segments?
The trend of product innovation is increasingly gaining momentum in the hospital asset management systems market. Many prominent companies in this market are focused on developing novel products to consolidate their market standing. For example, in April 2023, GE HealthCare Technologies Inc., an American medical technology firm, rolled out two new products - ReadySee, an innovative asset management and network supervision solution, and Portrait Mobile, a monitoring solution specifically designed to convert data into useful insights concerning devices and infrastructure. ReadySee is designed to facilitate healthcare IT and biomedical professionals in ensuring their devices' readiness, thus supporting clinical teams in their patient care mission. Portrait Mobile works towards the requirements of wireless and wearable monitoring by providing a platform that employs advanced technologies easily implemented into a hospital's IT framework. This also helps eliminate manual tracking of devices and manage cybersecurity protocols autonomously, thereby aiding in the identification of vulnerabilities, risk scoring, and safeguarding sensitive patient health information (PHI).

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Which Regions Are Becoming Hubs for Hospital Asset Management Systems Market Innovation?
North America was the largest region in the hospital asset management systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital asset management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hospital Asset Management Systems Market?
2. What is the CAGR expected in the Hospital Asset Management Systems Market?
3. What Are the Key Innovations Transforming the Hospital Asset Management Systems Industry?
4. Which Region Is Leading the Hospital Asset Management Systems Market?

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