hospital asset tracking and inventory management systems market growth drivers, hospital asset tracking and inventory management systems market size, hospital asset tracking and inventory management systems market share, hospital asset tracking and inventory management systems market trends, hospital asset tracking and inventory management systems market analysis, hospital asset tracking and inventory management systems market trends
What is the current market size and future outlook for the hospital asset tracking and inventory management systems market?
The hospital asset tracking and inventory management systems market size has grown strongly in recent years. It will grow from $30.25 billion in 2024 to $32.52 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to cost reduction pressures, increasing complexity of healthcare operations, patient safety concerns, rise of data analytics, increasing healthcare expenditure.
The hospital asset tracking and inventory management systems market size is expected to see strong growth in the next few years. It will grow to $43.24 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to integration with electronic health records (EHR), remote monitoring and management, demand for real-time visibility, focus on sustainability, global health events impact. Major trends in the forecast period include artificial intelligence (AI) applications, emergence of blockchain technology, technological advancements, adoption of rid technology, data analytics for operational insights, utilization of cloud-based solutions.
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What are the key drivers behind the rapid expansion of the hospital asset tracking and inventory management systems market?
The growing load of patients in hospitals has contributed to the growth of the hospital asset tracking and inventory management systems market going forward. The COVID-19 pandemic and lifestyle diseases, as well as other illnesses, including cancer, are brought on by the increasing number of people in hospitals who require hospitalization. An increase in the number of patients has increased the demand for equipment and inventory, which in turn is driving the growth of asset tracking and inventory management systems. For instance, in May 2024, according to the Nuffield Trust, a UK-based charitable trust, the percentage of patients in private hospitals in England increased from 5.6% prior to the pandemic to 7.5% in the 2022/23 period. Therefore, the growing load of patients in hospitals is driving the growth of the hospital asset tracking and inventory management systems market.
What is the segmentation for the hospital asset tracking and inventory management systems market?
The hospital asset tracking and inventory management systems market covered in this report is segmented –
1) By Product Type: Mobile, Fixed, Other Inventory
2) By Technology: Hardware, Software
3) By Application: Equipment Or Device Or Supplies Tracking, Equipment Maintenance
Subsegments:
1) By Mobile: Mobile Asset Tracking Devices, Mobile Inventory Management Applications
2) By Fixed: Fixed Asset Tracking Systems, Fixed Inventory Management Solutions
3) By Other Inventory: RFID-based Inventory Systems, Barcode-based Inventory Management, Manual Inventory Management Systems
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Who are the most influential companies in the hospital asset tracking and inventory management systems market?
Major companies operating in the hospital asset tracking and inventory management systems market include IBM Corporation, Honeywell International Inc., Siemens Healthineers AG, GE Healthcare, Stanley Black & Decker, Avery Dennison Corporation, Zebra Technologies Corporation, ThingMagic (Trimble Inc.), Infor Inc., CenTrak (Halma plc), Epicor Software Corporation, Jadak- A Novanta Company, Midmark Corporation, Ascom Holding AG, Impinj Inc., Elpas Solutions, Identiv Inc., Sato Holdings Corporation, Alien Technology, Censis Technologies, Mobile Aspects, Ekahau Inc., AiRISTA Flow Inc, Sonitor Technologies Inc, Cybra Corporation, LogiTag Systems, Solstice Medical
What are the most influential trends expected to drive the hospital asset tracking and inventory management systems market forward?
Major companies operating in the hospital asset tracking and inventory management systems market are innovating products, such as healthcare asset management to enhance efficiency, reduce costs, and improve patient care. Healthcare asset management refers to the systematic approach to managing a healthcare organization’s assets, which can include medical equipment, facilities, IT infrastructure, and human resources. For instance, in April 2024, TRIMEDX, a US-based biotechnology company, launched GeoSense, a cutting-edge Real-Time Location System (RTLS) designed for healthcare asset management. This innovative system provides room-level precision in tracking medical devices, significantly reducing search times by up to 50% and allowing healthcare staff to focus more on patient care. GeoSense seamlessly integrates with TRIMEDX’s existing data platforms and includes a user-friendly mobile app for quick device location at the point of care.
What are the major regional insights for the hospital asset tracking and inventory management systems market, and which region holds the top position?
The countries covered in the hospital asset tracking and inventory management systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Hospital Asset Tracking and Inventory Management Systems Market Report 2025 Offer?
The hospital asset tracking and inventory management systems market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Hospital asset tracking and inventory management systems use sensors and tags that track the assets of the hospitals, provide real-time data, and play a crucial role in locating medical equipment in times of emergency in hospitals.
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