Transparency Market Research (TMR)
has published a new report titled, ‘Hospital Asset Management Market - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.
According to the report, the global hospital asset management market was valued at US$ 5,986.5 Mn in 2018
and is projected to expand at a CAGR of 9.5% from 2019 to 2027.
Overview
·
Hospital asset management solutions
consists of products such real-time location systems (RTLS), radio-frequency
identification (RFID),ultrasound, and infrared
·
The real-time location systems (RTLS)
segment comprises Wi-Fi, ZigBee, and UWB. These applications can be used for
indoor as well as staff & patient management, outdoor tracking of motion
and equipment usage tracking
·
North America dominated the global
hospital asset management market in 2018 and the trend is anticipated to
continue during the forecast period. Rise in emphasis on improving the quality
of patient care and exponential increase in adoption of healthcare IT tools and
technologies for patient management are various factors expected to drive the
market in North America.
·
Asia Pacific is likely to be a highly
lucrative market for hospital asset management and it is expected to expand at
a high CAGR during the forecast period
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Increase in Use in Hospitals to
Enhance Patient and Resident Experience to Drive Market
·
Use of asset management solutions in
hospitals has numerous advantages in providing best quality services and
improving patient management. It has the
potential of completely putting an end to patient waiting rooms, as technology
based tags or badges are able to manage patients without any waiting time or
queuing
·
A simple radio-frequency
Identification tags offers number of benefits to healthcare professionals and
enable to improve caregiver-patient interaction which is achieved by monitoring
patient location and reducing nurse round intervals
·
Motion sensing patient management
solutions changed the dynamics of patient management, helping to minimize
burden on healthcare worker and deliver best diagnostic & treatment
services.
Real-Time Location Systems (RTLS)
Segment to Dominate Market
·
Based on product, the global hospital
asset management market has been divided into real-time location systems
(RTLS), radio-frequency identification (RFID), ultrasound tags, and infrared
tags
·
The RTLS segment dominated the global
hospital asset management market in 2018 and the trend is projected to continue
during the forecast period. Data capture, visualization, integration, and
analysis are various specifications of RTLS and has the ability to perform
various tasks. These properties of the segment projected to increase its use in
the market, thereby accelerating the growth of the segment during the forecast
period.
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Generic Hospital Asset Management to
be Highly Lucrative Segment
·
In terms of application, the global
hospital asset management market has been classified into staff management,
patient management, supply chain management and instrument management.
·
The instrument management segment
dominated the hospital asset management market due rise in emphasis on
instrument tracking, counterbalance misplaced or lost devices in healthcare
centers and focus on healthcare resource management.
North America to Dominate Global
Market
·
In terms of region, the global
hospital asset management market has been segmented into North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa. North America
dominated the global hospital asset management market in 2018, followed by
Europe.
·
North America accounted for major
share of the global hospital asset management market in 2018, owing to rise in
demand for technologically advanced systems and increasing need for higher
efficiency and patient safety system in health care facilities.
·
The hospital asset management market
in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This
can be attributed to rapid growth in healthcare facilities in developing
economies such as India, China, Indonesia, Vietnam, South Korea, emphasis on
improving healthcare infrastructure by public as well as private hospital
organizations
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Competitive Landscape
·
The global hospital asset management
market is fragmented in terms of number of players. Key players in the global
market include Ascom, AWAREPOINT CORPORATION, CenTrak (Halma plc), Ekahau, GE
Healthcare (General Electric Company), Honeywell International Inc., Impinj,
Inc.,Sonitor Technologies, STANLEY Healthcare (Stanley Black & Decker,
Inc.), and ZIH Corp among others.
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