Hospital Asset Management Systems Market Growth Trends, Strategies, and Outlook by 2024-2033

Overview and Scope

Hospital asset management systems refer to a method for arranging, looking after, and monitoring the assets used in a healthcare center. Hospital asset management systems track and manage a hospital’s physical assets.

Sizing and Forecast

The hospital asset management systems market size has grown exponentially in recent years. It will grow from $21.85 billion in 2023 to $27.1 billion in 2024 at a compound annual growth rate (CAGR) of 24.0%. The growth in the historic period can be attributed to regulatory compliance, cost reduction initiatives, rising healthcare costs, patient safety, inventory control.

The hospital asset management systems market size is expected to see exponential growth in the next few years. It will grow to $64.56 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed to integration with electronic health records, artificial intelligence (ai) and predictive analytics, global health crisis preparedness, telehealth and remote monitoring, energy efficiency and sustainability. Major trends in the forecast period include blockchain technology, collaboration and interoperability, digital twins for equipment, big data analytics for asset optimization, user-friendly interfaces and training.

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Segmentation & Regional Insights

The hospital asset management systems market covered in this report is segmented –

1) By Product Type: Radio-Frequency Identification (RFID), Real-Time Location Systems (RTLS), Ultrasound And Infrared Tags
2) By Application: Patient Management, Equipment Tracking And Management, Temperature And Humidity Control, Infection Control And Hygiene Compliance, Staff Management, Pharmaceutical Asset Management, Other Applications
3) By End-Use: Hospitals, Laboratories, Other End Users

North America was the largest region in the hospital asset management systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital asset management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The rising number of hospitals is expected to propel the growth of the hospital asset management systems market going forward. Hospitals refer to an institution that is established, staffed, and equipped for illness diagnosis, medical and surgical treatment of the sick and injured, and accommodation throughout this procedure. The rising number of hospitals is driven by increased hospitalization, ICU stays, oxygen demand, and rising cases of chronic diseases. Hospital asset management system effectively managing their assets, ensuring it is used, maintained, and tracked as necessary. For instance, in May 2023, according to the American Hospital Association, a US-based national organization, the number of hospitals in the US increased from 6,090 in 2021 to 6,129 in 2023. Further, the system’s total number of community hospitals rose from 3,453 in 2021 to 3,514 in 2023. Therefore, the rising number of hospitals is driving the growth of the hospital asset management system market.

Key Industry Players

Major companies operating in the hospital asset management systems market report are McKesson Corporation, International Business Machines Corporation, Honeywell International Inc., Siemens Healthineers, GE Healthcare Technologies Inc., Zebra Technologies Corporation, Cerner Corporation, Trimble Inc., Philips Healthcare, Hill-Rom Holdings Inc., Midmark Corporation, Stanley Healthcare, Ascom Holding AG, Accruent LLC., Identiv Inc., RF Technologies Inc., CenTrak Inc., Fiix, Ekahau Inc., Jadak Technologies Inc., SmartPoint Technologies Pvt Ltd., Asset Panda, Securitas Healthcare LLC., Halt Medical Inc., AiRISTA Flow Inc., Versus Technology Inc., Asset infinity, InnoMaint, Ezofficeinventory, Sonitor Technologies AS.

The hospital asset management systems market report table of contents includes:

1. Executive Summary

2. Hospital Asset Management Systems Market Characteristics

3. Hospital Asset Management Systems Market Trends And Strategies

4. Hospital Asset Management Systems Market – Macro Economic Scenario

5. Global Hospital Asset Management Systems Market Size and Growth

…

32. Global Hospital Asset Management Systems Market Competitive Benchmarking

33. Global Hospital Asset Management Systems Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Hospital Asset Management Systems Market

35. Hospital Asset Management Systems Market Future Outlook and Potential Analysis

36. Appendix

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