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The hospital asset tracking and inventory management systems market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 6%, as per The Business Research Company’s market report!

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The Hospital Asset Tracking And Inventory Management Systems Market Size In 2022 And Forecast

The global hospital asset tracking and inventory management systems market is expected to grow from $23.23 billion in 2021 to $25.12 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The hospital asset tracking and inventory management systems market is expected to reach $31.97 billion in 2026 at a CAGR of 6.2%.

The hospital asset tracking and inventory management systems market consists of the sale of hospital asset tracking and inventory management systems or related services by entities (organizations, sole traders, and partnerships) that refers to a method used to track and monitor the use of the equipment and medical devices in hospitals through a software.

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Growth In Load Of Patients In Hospitals Is Driving The Growth Of The Hospital Asset Tracking And Inventory Management Systems Market

As per data by the National Institutes of Health (NIH), an agency of the US government, 9,00,000 COVID-19 hospitalizations occurred in November 2020 and were attributed to the conditions of obesity, hypertension, diabetes, and heart failure in the United States. Also, according to data by National Center for Health Statistics, a US-based government agency, in 2022, 1,918,030 new cancer cases are forecasted in the United States. Therefore, the growing load of patients in hospitals is driving the growth of the hospital asset tracking and inventory management systems market.

Competitive Landscape And The Regional Analysis Of The Hospital Asset Tracking And Inventory Management Systems Market

Major players in the hospital asset tracking and inventory management systems market are ZIH Corp, Ascom, GE Healthcare (General Electric Company), CenTrak (Halma plc), Honeywell International Inc., Alcatel-Lucent Enterprise, Epicor Software Corporation, Stanley, Black and Decker Inc, Sonitor Technologies Inc., Impinj Inc., Ekahau, and Midmark Corporation.

Additionally, as per TBRC’s research – North America was the largest region in the hospital asset tracking and inventory management systems market in 2021 holding the largest market share.

The Hospital Asset Tracking And Inventory Management Systems Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the hospital asset tracking and inventory management systems market.

Growing Implementation Of Real-Time Locating Systems – A Key Trend In The Hospital Asset Tracking And Inventory Management Systems Market

Major companies operating in the hospital asset tracking and inventory management systems sector are focused on the implementation of real-time locating systems (RTLS) to strengthen their position in the market.

Hospital Asset Tracking And Inventory Management Systems Market Segmentation By The Business Research Company

1) By Product Type: Mobile, Fixed, Other Inventory

2) By Technology: Hardware, Software

3) By Application: Equipment or Device or Supplies Tracking, Equipment Maintenance

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