Global Hospital Asset Tracking and Inventory Management Systems Market Trends and Future Outlook to 2029
Claim your 20% discount on Global Market Reports with code ONLINE20. Limited time only.
What CAGR And Valuation Are Anticipated For The Hospital Asset Tracking and Inventory Management Systems Market?
The market for hospital asset tracking and inventory management systems has seen substantial growth in recent times. It is projected to expand from $30.25 billion in 2024 to $32.42 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 7.2%. The growth during the historic period can be linked to pressures to decrease costs, the increasing intricacy of healthcare processes, worries regarding patient safety, the emergence of data analytics, and an increase in healthcare spending.
The market size for hospital asset tracking and inventory management systems is projected to experience significant expansion in the coming years, with a forecasted value of $42.89 billion in 2029 and a compound annual growth rate (CAGR) of 7.2%. The anticipated growth within the forecast period can be credited to the incorporation with electronic health records (EHR), remote supervision and management, a need for immediate visibility, emphasis on sustainability, and the influence of global health events. Key trends that are emerging in the forecast period comprise of the application of artificial intelligence (AI), the rise of blockchain technology, technological progress, the implementation of rid technology, data analytics for operational perceptions, and the use of cloud-based solutions.
Get A Free Sample Of The Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7461&type=smp
What Are The Primary Factors Supporting The Hospital Asset Tracking and Inventory Management Systems Market Expansion?
The surge in patient numbers in hospitals has led to the expansion of the market for hospital asset tracking and inventory management systems. The combination of COVID-19, lifestyle diseases, and others such as cancer, has led to an influx of people requiring hospital care. As the number of patients increases, so does the need for equipment and inventory. This, in turn, fuels the growth of the asset tracking and inventory management systems market. For example, the Nuffield Trust, a charity based in the UK, reported in May 2024 that the proportion of patients in private hospitals in England rose from 5.6% before the pandemic to 7.5% in the 2022/23 period. Thus, the burgeoning number of patients in hospitals stimulates the growth of the market for hospital asset tracking and inventory management systems.
Which Segments Define The Structure Of The Hospital Asset Tracking and Inventory Management Systems Market?
The hospital asset tracking and inventory management systemsmarket 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
Which Long-Term Trends Will Play A Crucial Role In The Hospital Asset Tracking and Inventory Management Systems Market?
Leading entities within the hospital asset tracking and inventory management systems market are revolutionizing products, such as healthcare asset management, to increase efficiency, slash expenses, and elevate patient care quality. Healthcare asset management pertains to the organized procedure of handling a healthcare institution’s resources, potentially encompassing medical devices, facilities, IT structure, and personnel. For example, TRIMEDX, a biotech company based in the US, unveiled GeoSense in April 2024. GeoSense is a state-of-the-art Real-Time Location System (RTLS) created specifically for healthcare asset management. This trailblazing system offers room-level precision when monitoring medical devices, thus shrinking search durations by as much as 50% and enabling medical staff to dedicate more time to patient treatment. GeoSense flawlessly synchronizes with TRIMEDX’s existing data platforms and features a user-friendly mobile app for expeditious device location at the point of care.
Who Are The Primary Market Leaders 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
Access The Complete Report Here:
What Regional Factors Are Accelerating Growth In The Hospital Asset Tracking and Inventory Management Systems Market?
North America was the largest region in the hospital asset tracking and inventory market in 2024. The regions covered in the hospital asset tracking and inventory management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Customize Your Report Here:
https://www.thebusinessresearchcompany.com/customise?id=7461&type=smp
Browse Through More Reports Similar to the Global Hospital Asset Tracking and Inventory Management Systems Market 2025, By The Business Research Company
Fitness App Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/fitness-app-global-market-report
Fitness Platforms For Disabled Global Market Report 2025
Fitness Tracker Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/fitness-tracker-global-market-report
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
