The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Hospital Asset Tracking and Inventory Management Systems Global Market Report 2023, the hospital asset tracking and inventory management systems market is expected to show promising growth in the forecast period.

The global hospital asset tracking and inventory management systems market have experienced significant growth, witnessing an increase from $25.28 billion in 2022 to $27.27 billion in 2023, reflecting a robust Compound Annual Growth Rate (CAGR) of 7.9%. As the trajectory unfolds, market projections anticipate further expansion, with the market size expected to reach $35.16 billion in 2027, fueled by a CAGR of 6.6%.

– Growth Dynamics:

• Current Size (2023):
  • $27.27 billion, with a CAGR of 7.9%.
• Projected Size (2027):
  • $35.16 billion, expected to grow at a CAGR of 6.6%.

Healthcare’s Challenge: Patient Load Surge
The upsurge in patient admissions, driven by factors such as the COVID-19 pandemic and the prevalence of lifestyle diseases, has become a pivotal contributor to the burgeoning hospital asset tracking and inventory management systems market. The influx of patients has led to an increased demand for medical equipment and inventory, necessitating advanced asset tracking and inventory management systems to streamline operations. For instance, in November 2020, the National Institutes of Health (NIH) reported 900,000 COVID-19 hospitalizations, linking them to conditions like obesity, hypertension, diabetes, and heart failure in the United States. Simultaneously, projections for 2022 by the National Center for Health Statistics estimate 1,918,030 new cancer cases in the United States, further accentuating the need for efficient hospital asset management.

– Patient Load Impact:

• COVID-19 Hospitalizations (November 2020):
  • 900,000 cases reported by NIH.
• Cancer Cases (2022 Projection):
  • 1,918,030 new cases anticipated by the National Center for Health Statistics.

Industry Leaders: Key Market Players

Major players are steering the course of the hospital asset tracking and inventory management systems market. Notable entities, including ZIH Corp., GE Healthcare, Honeywell International Inc., and Midmark Corporation, play instrumental roles in shaping the landscape.

– Market Influencers:

• ZIH Corp.:
  • A significant player contributing to the growth of hospital asset tracking.
• GE Healthcare:
  • Renowned for its impactful role in the healthcare sector.
• Midmark Corporation:
  • A key player driving innovation in real-time locating systems.

Revolutionary Trend: Real-Time Locating Systems (RTLS)
The widespread adoption of Real-Time Locating Systems (RTLS) has emerged as a transformative trend, gaining traction in the hospital asset tracking and inventory management systems market. Leading companies are strategically implementing RTLS to enhance their market presence. A notable example is the January 2021 launch of a Bluetooth low-energy cloud-based asset tracking solution by Midmark RTLS, aimed at modernizing asset tracking capabilities for hospitals.

– RTLS Implementation:

• Innovation (January 2021):
  • Midmark RTLS launched a Bluetooth low-energy cloud-based asset tracking solution.
• Impact:
  • Enhances asset tracking capabilities, aiding hospital staff in quickly locating required equipment.

– Global Hospital Asset Tracking and Inventory Management Systems Market Segmentation:

1. By Product Type:
   • Other Inventory.
2. By Technology:
3. By Application:
   • Equipment or Device or Supplies Tracking.
   • Equipment Maintenance.

Regional Dynamics: North America at the Helm

As of 2022, North America stands as the largest region in the hospital asset tracking and inventory management market. The region has been a frontrunner in adopting advanced healthcare technologies and solutions. Looking forward, Asia-Pacific is poised to emerge as the fastest-growing region in the forecast period.

– Regional Overview:

• Current Landscape (2022):
  • North America leading as the largest region.
• Growth Potential (Forecast):
  • Asia-Pacific expected to be the fastest-growing region.

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The Hospital Asset Tracking and Inventory Management Systems Global Market Report 2023  offers a comprehensive overview on the hospital asset tracking and inventory management systems market size, growth rate, trends and drivers, opportunities, strategies, and competitor landscape. 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, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The Table Of Content For The Hospital Asset Tracking and Inventory Management Systems Market Include:
1. Hospital Asset Tracking and Inventory Management Systems Market Executive Summary
2. Hospital Asset Tracking and Inventory Management Systems Market Segments
3. Hospital Asset Tracking and Inventory Management Systems Market Size And Hospital Asset Tracking and Inventory Management Systems Market Growth Rate
4. Key Hospital Asset Tracking and Inventory Management Systems Market Trends
5. Major Hospital Asset Tracking and Inventory Management Systems Market Drivers
……
25. Key Mergers And Acquisitions In The Hospital Asset Tracking and Inventory Management Systems Market
26. Top Hospital Asset Tracking and Inventory Management Systems Companies
27. Hospital Asset Tracking and Inventory Management Systems Market Opportunities And Strategies
28. Hospital Asset Tracking and Inventory Management Systems Market, Conclusions And Recommendations
29. Appendix

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