Real-Time Location System in Healthcare Market Size, Share & Growth 2024-2033

The real time location system in healthcare global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Real Time Location System In Healthcare Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size – The real time location system in healthcare market size has grown exponentially in recent years. It will grow from $2.62 billion in 2023 to $3.19 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%.  The growth in the historic period can be attributed to increasing demand for asset tracking, growing focus on workflow optimization, the need for improved patient safety, increase in the safety and security of their patients, and governments prioritizing modernizing healthcare systems

The real time location system in healthcare market size is expected to see exponential growth in the next few years. It will grow to $7.08 billion in 2028 at a compound annual growth rate (CAGR) of 22.1%.  The growth in the forecast period can be attributed to the growing global population, rise in the number of patients, the rising demand for enhanced patient care and safety, adoption of the RTLS in healthcare, increasing healthcare spending on a global scale, and governments prioritize modernizing healthcare systems. Major trends in the forecast period include technology enables healthcare professionals to track medical equipment, investments in technologies such as RTLS, technological advancement, incorporation of Ultra-Wideband (UWB) technology, and integration of artificial intelligence and machine learning with RLTS.

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Scope Of Real Time Location System In Healthcare MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Real Time Location System In Healthcare Market Overview
Market Drivers -The growing number of cancer patients is expected to propel the growth of the real-time location system in the healthcare market going forward. Cancer patients are individuals who have been diagnosed with cancer, a group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body. The growing number of cancer patients is due to an aging population, lifestyle factors, genetic predisposition, and access to healthcare. Real-time location systems (RTLS) contribute to a more efficient, coordinated, and patient-centered approach to caring for cancer patients, ultimately improving their outcomes and experiences within the healthcare system. For instance, in May 2024, according to data from the National Institutes of Health (NIH), a US-based government organization, there will be an estimated 18.1 million cancer survivors, representing approximately 5.4% of the population in 2022. This number is projected to increase by 24.4% to 22.5 million by 2032 and grow to 26.0 million by 2040. Therefore, the growing number of patients is driving the growth of the real-time location system in the healthcare market.

Market Trends – Major healthcare companies operating in the real-time location system in the healthcare market are focusing on developing technologically advanced products, such as active radio frequency (RF) tags, to gain a competitive edge in the market. Active radio frequency (RF) tags are battery-powered devices that continuously broadcast their signal, allowing real-time tracking and monitoring of assets over longer distances than passive RF tags. For instance, in June 2021, Inpixon Inc., a US-based technology company, launched the Inpixon asset tag, a small, active radio frequency (RF) tag designed for long-range asset tracking with real-time location systems (RTLS). This tag is pre-configured and ready to use with Inpixon’s 2.4 GHz chirp technology, which includes the nanoLOC, swarm bee, nanoANQ PCB anchor circuit board, and nanoLES locating engine. The tag is designed to track hospital equipment, tools, vehicles, robots, dangerous or sensitive materials, and other high-value assets that need to be tracked or located quickly.

The real time location system in healthcare market covered in this report is segmented –
1) By Offering: Hardware, Software, Service
2) By Technology: Radio Frequency Identification (RFID), Wi-Fi, Ultra-Wideband (UWB), Bluetooth Low Energy (BLE), Infrared, Ultrasound, Other Technologies
3) By Facility Type: Hospitals And Healthcare Facilities, Senior Living Facilities
4) By Application: Inventory Or Asses Tracking And Monitoring, Personnel Locating And Monitoring, Access Control And Security, Environmental Monitoring, Supply Chain Management And Automation, Other Applications

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Regional Insights – North America was the largest region in the real time location system in healthcare market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the real time location system in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies – Major companies operating in the real time location system in healthcare market are Cisco Systems Inc., Oracle Corporation, GE HealthCare Technologies Inc., Securitas AB, Zebra Technologies Corporation, Aruba Networks, Impinj Inc., Midmark Corporation, TeleTracking Technologies Inc., CenTrak Healthcare Inc., Alien Technology, Enlighted Inc., Kontact.io, Savi Technology Inc., purple.ai, Identec Solutions AG, Ekahau Inc., Ubisense Group PLC, Inpixon Inc., Sonoitor Technologies Inc., Vizzia Technologies, AiRISTA Flow Inc., Tagnos Inc., Awarepoint Corporation

Table of Contents 1. Executive Summary2. Real Time Location System In Healthcare Market Report Structure3. Real Time Location System In Healthcare Market Trends And Strategies4. Real Time Location System In Healthcare Market – Macro Economic Scenario5. Real Time Location System In Healthcare Market Size And Growth…..27. Real Time Location System In Healthcare Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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