USD 13.88 billion
Report ID: SQSG35B2015 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 68 | Figures: 75
Hospital Asset Management Systems Market size was valued at USD 13.88 billion in 2021 and is poised to grow from USD 17.08 billion in 2022 to USD 90.65 billion by 2030, growing at a CAGR of 23.2% in the forecast period (2023-2030).
Asset management in hospitals is simply a highly organized and economical method of organising, purchasing, maintaining, using, and disposing of any healthcare organization's machinery, equipment, and physical assets. Asset management is vital in maintaining that a hospital's vital equipment is regularly maintained, put through testing, and kept in dependable operating order.
As healthcare organisations try to reduce asset search times, automate asset management procedures, and enhance an asset procurement strategy, hospital asset tracking use is increasing.
It is also expected that the introduction of technical innovations like Zigbee and smart active labels (SAL) will increase demand. Asset management has become more productive and efficient because to advancements like near field communication. Additionally, in the upcoming years, it is anticipated that growing privacy concerns in hospitals and healthcare organisations, an increase in the use of the hospital and pharmaceutical industries for efficient supply chains, and benefits like a higher return on investment and cost savings will all contribute to the growth of hospital asset management.
US Hospital Asset Management Systems Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 13.88 billion
Radiofrequency Identification (RFID) Devices
Real-time location systems (RTLS) Devices
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Global Hospital asset management systems market is segmented based on the Product, Application, and region. Based on the Product, the Hospital Asset Management Systems Market is segmented as Radiofrequency Identification (RFID) Devices and Real-time location systems (RTLS) which is further divided into Hardware, software, and services. Based On Application, the Hospital Asset Management Systems Market is segmented as Hospital Asset Management, Patient Management, Equipment Tracking and Management, Temperature and Humidity Control, Infection Control and Hand Hygiene Compliance and Staff Management. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Hospital Asset Management Systems Market Analysis by Application
Hospital asset management systems market has been segmented on the basis of applications such as Patient Management, Equipment Tracking and management, temperature and humidity control, infection control and hand hygiene compliance, staff control, infection control and hand hygiene compliance, and staff management.
Hospital Asset Management Systems Market is basically divided into two categories, hospital asset management, and pharmaceutical asset management, based on application. The hospital asset management is further divided into the following categories: staff management, infection control, and hand hygiene compliance, temperature and humidity control, equipment tracking and management, and patient management. Additionally, Drug Anti-counterfeiting is a component of Pharmaceutical Asset Management. Due to the growing demand for effective asset management in hospitals, the hospital asset management segment will continue to dominate the market over the forecasted period. Hospital Asset Management Systems Market for hospital asset management is dominated by the equipment tracking and management segment, which has experienced substantial growth as a result of the increased need for asset management in terms of equipment tracking.
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North America had the largest revenue share in the global market in 2021, and it is anticipated that it will continue to dominate over the forecast period. Due to improving clinical and laboratory research infrastructure and the growing use of affordable medical systems in clinical diagnostic laboratories. North America held the biggest market share. Due to the technical advancement of growing economies like China and India, the Asia Pacific area is anticipated to rise significantly throughout the forecast period. The rising median age of the population, increased government and business investment to standardise the biopharmaceutical and healthcare sectors, and the existence of unmet market demand are all factors contributing to this anticipated expansion. In addition, the region's growing diagnostic laboratory workforce, the abundance of investment opportunities in these developing countries, growing public awareness of the benefits of efficient supply chain management, and expanding demand are all anticipated to fuel demand in the
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Hospital Asset Management Systems Market Driver
Hospital Asset Management Systems Market Restraint
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Since the major market players own a large portion of the hospital asset management systems, there is intense competition in this area. In order to produce an appropriate solution, developers must have a deeper understanding of the process. Innovation in the market also encourages tight cooperation among healthcare stakeholders during development and customization to meet the needs of the end-user.
Hospital Asset Management Systems Market Top Player's Company Profiles
Hospital Asset Management Systems Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Hospital Asset Management Systems Market Analysis, in terms of application, Drug Anti-counterfeiting is a component of Pharmaceutical Asset Management and has the highest market share due to the growing demand for effective asset management in hospitals, the hospital asset management segment will continue to dominate the market over the forecasted period. More than 40% of the global pharmaceutical market is based in North America. Additionally, as the advantages of using asset management systems in hospitals become more well known, there may be a rise in demand for the market.
|Market size value in 2021||USD 13.88 billion|
|Market size value in 2030||USD 17.08 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Hospital Asset Management Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hospital Asset Management Systems Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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