Key Trends Influencing the Growth of the Hospital Asset Tracking and Inventory Management Systems Market in 2025: Innovations In Hospital Asset Tracking: TRIMEDX Launches Geosense RTLS For Enhanced Efficiency In Healthcare Management

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Hospital Asset Tracking and Inventory Management Systems Market Size Growth Forecast: What to Expect by 2025?
The market size for hospital asset tracking and inventory management systems has seen robust growth over the past years. It is projected to rise from $30.25 billion in 2024 to reach $32.52 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.5%. Factors such as the pressure to lower costs, the ascending complexity of healthcare procedures, patient safety considerations, the emergence of data analytics, and an increase in healthcare spending have contributed to the growth in this historic period.

How Will the Hospital Asset Tracking and Inventory Management Systems Market Size Evolve and Grow by 2029?
Anticipations are high for a robust surge in the hospital asset tracking and inventory management systems market over the imminent years. The market is forecasted to climb up to $43.24 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. This projected rise during the forecast period can be pinned down to factors such as integration with electronic health records (EHR), remote control and management, a need for real-time visibility, emphasis on sustainability, and effects of global health incidents. The forecast period is also predicted to witness major trends such as application of artificial intelligence (AI), the rise of blockchain technology, technological progress, the use of rid technology, data analytics utilization for operational knowledge and increased usage of cloud-based solutions.

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What Drivers Are Propelling the Growth of Hospital Asset Tracking and Inventory Management Systems Market Forward?
The surge in the patient count in hospitals has been instrumental in propelling the expansion of the hospital asset tracking and inventory management systems market. The influx of patients in hospitals due to the COVID-19 pandemic, lifestyle ailments, and other diseases like cancer has necessitated a growth in hospitalizations. This significant rise in patient numbers has heightened the demand for equipment and inventory, thereby fueling the expansion of asset tracking and inventory management systems. For example, data from the Nuffield Trust -- a UK-based charity -- reveals that in May 2024, the proportion of patients in England's private hospitals climbed from 5.6% before the pandemic to 7.5% during the 2022/23 period. As such, the escalating patient counts in hospitals are spurring the growth of the hospital asset tracking and inventory management systems market.

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Which Emerging Trends Are Transforming the Hospital Asset Tracking and Inventory Management Systems Market in 2025?
Prominent businesses in the market of hospital asset tracking and inventory management systems are developing novel products like healthcare asset management in order to amplify efficiency, diminish costs, and better patient care. The term healthcare asset management connotes a methodical approach to handle a healthcare institution's resources, including medical machinery, properties, IT framework, and workforce. For instance, in April 2024, TRIMEDX, a biotechnology firm situated in the US, introduced GeoSense, an avant-garde Real-Time Location System (RTLS) customized for healthcare asset management. This groundbreaking technology provides exact room-level accuracy in tracing medical devices, significantly decreasing search durations by as much as 50% and enabling healthcare personnel to allocate more time to patient care. GeoSense effortlessly blends with TRIMEDX's already-existing data platforms and comes with an easily navigable mobile app for instant device tracking at the point of care.

What Are the Key Segments in the Hospital Asset Tracking and Inventory Management Systems Market?
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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Who Are the Key Players Shaping the Hospital Asset Tracking and Inventory Management Systems Market's Competitive Landscape?
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

What Geographic Markets Are Powering Growth in the Hospital Asset Tracking and Inventory Management Systems Market?
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.

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