Global RTLS Market in the healthcare sector to grow at a CAGR of 50.47% during the period 2017-2021

Market Research analysts forecast the global RTLS market in the healthcare sector to grow at a CAGR of 50.47% during the period 2017-2021.

The following companies as the key players in the global RTLS market in the healthcare sector: AiRISTA, HP, STANLEY Healthcare, and Zebra
Other Prominent Vendors in the market are: Awarepoint, BeSpoon, Borda Technology, CenTrak, decaWave, Emanate Wireless, GE Healthcare, IBM, Intelligent InSites, Purelink, Radianse, RF Technologies, Sonitor Technologies, Sewio, TagSense, TeleTracking Technologies, ThingMagic, Tyco Security Products, and Versus Technology

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Commenting on the report, an analyst from Reports team said: In the healthcare domain, right communication between patient and doctor and patient and caretaker is the key factor. Poor communication between hospital staff and patients leads to treatment delays. Delay in communication at times become critical and lead to patient deaths. Earlier, pagers were used inside hospitals. However, this has caused inefficiency. Owing to the use of outdated technology, the hospital staff loses an average of 46 minutes each working day. Therefore, to improve the efficiency and reduce the cost, most of the hospitals are using LBM. This technology is mainly used for patient communications, patient help button alerting, and staff safety alerting.
According to the report, RFID tags are broadly used across the healthcare sector for asset tracking and workforce management. These tags help the sector enhance its efficiency and effectiveness of various operations. The cost of RFID tags is declining exponentially due to the increase in its adoption rate and competition among vendors in the industry. In 2014, the price of RFID tags had declined to 30%-40% as compared with the cost in 2012.
Further, the report states that despite numerous advantages, RTLS also brings challenges to its enterprise users. The implementation of RTLS is expensive because of its high initial deployment cost. This will prompt manufacturers to opt for low-cost technologies such as barcode systems. The cost of RTLS includes expenses involved in planning and design, cabling, software licenses, and location hardware such as signposts and readers. A full-fledged implementation of RTLS in a large manufacturing company costs between $10 million and $30 million. This initial cost varies from industry to industry.

About RTLS in the Healthcare Sector

The RTLS is technology is used to find, track, manage, and identify the geographical position of a target on a real-time basis. This is done with the help of nodes or tags and readers. Nodes or tags are embedded in smartphones or navigational devices, through which a user can easily track an object.

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Covered in this report

The report covers the present scenario and the growth prospects of the global RTLS market in the healthcare sector for 2017-2021. To calculate the market size, the report considers the revenue generated from the following:
RTLS systems and tags
Active radio-frequency identification (RFID), passive RFID, out-of-band, GPS, AGPS, and Wi-Fi technologies.
Asset tracking, people tracking, and hospital management

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

Global RTLS Market in the Healthcare Sector 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
AiRISTA
HP
STANLEY Healthcare
Zebra

Other prominent vendors
Awarepoint
BeSpoon
Borda Technology
CenTrak
decaWave
Emanate Wireless
GE Healthcare
IBM
Intelligent InSites
Purelink
Radianse
RF Technologies
Sonitor Technologies
Sewio
TagSense
TeleTracking Technologies
ThingMagic
Tyco Security Products
Versus Technology

Market driver
Increased usage of RTLS tags in hospital
For a full, detailed list, view our report

Market challenge
Limited well-defined RTLS technology standards
For a full, detailed list, view our report

Market trend
Introduction of new cost-effective technologies
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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