Global Hospital Asset Management Systems Market

Global Hospital Asset Management Systems Market Size, Share, Growth Analysis, By Product(Radiofrequency Identification (RFID) Devices, Real-time location systems (RTLS) Devices), By Application(Patient Management, Equipment Tracking & Management) - Industry Forecast 2024-2031

Report ID: SQSG35B2015 | Region: Global | Published Date: July, 2036
Pages: 157 | Tables: 68 | Figures: 75

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Hospital Asset Management Systems Market size was valued at USD 13.88 billion in 2019 and is poised to grow from USD 17.08 billion in 2023 to USD 90.65 billion by 2031, growing at a CAGR of 23.2% in the forecast period (2024-2031).

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. 'Stanley Healthcare', 'CenTrak', 'IBM', 'GE Healthcare', 'AiRISTA Flow', 'Sonitor Technologies ', 'Versus Technology', 'Zebra Technologies Corporation', 'Identiv, Inc.', 'Honeywell International Inc. ', 'Mobile Aspects', 'Radianse', 'ThingMagic', 'AeroScout (Stanley Healthcare)', 'Vizbee RFID Solutions', 'Jadak - A Novanta Company', 'Sato Vicinity', 'Ekahau', 'Midmark Corporation', 'Siemens Healthineers.'

The worldwide healthcare sector is committed to promoting infrastructure as essential to following safety laws and regulations. Hospitals are a major driver of the hospital asset management market because they view asset management plans as essential to meeting both patient safety and quality of care requirements.

Due to medical facilities' quick technological improvements, the demand for asset management solutions is increasing, which will considerably fuel market expansion throughout the forecast period. Asset management in medical institutions has seen a quick move toward modernization of traditional methods since the introduction of healthcare IT. Previously, an organization's asset management procedure included the conventional pen and paper technique. One of the key drivers of market expansion is the inclusion of wireless connections in hospital asset management solutions. The wireless hospital asset management provides a real-time solution for hospital administrators to monitor both their physical assets and their patients and medical staff. Wireless solutions give the system adaptability, scalability, and portability. By showing availability and room location, whether it is used or available, as well as its sterilization condition, it allows medical facilities to quickly search for their assets and its many categories. Such progressive technological upgrading will significantly fuel market growth between 2021 and 2028.

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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