Healthcare Asset Management Market Trends, Revenue Forecast, Competitive Landscape, Growth Factors: Information, Product (Radiofrequency Identification (RFID) Devices, and Others), Application (Hospital Asset Management and Others), End-User (Hospital, Laboratory, Pharmaceutical, and Others)

The healthcare asset management market to showcase an extraordinary 18.2% CAGR over the forecast period, revealed Market Research Future (MRFR) in a well-outlined report on the same market. The healthcare asset management includes patient record management, easy access to maintenance record, locating medical equipment, and registering of the status of each equipment. Increasing demand for healthcare and the availability of varying types of treatment are creating a situation where easy access to everything is prized. This would help in quick and efficient service delivery to patients. When time is of the essence, then keeping everything at a hand’s distance becomes necessary. Healthcare asset management does that quite efficiently. MRFR, while having a detailed study of the healthcare asset management market, harps on segments and their volume-wise and value-wise valuation. In sync, it also analyses the factors that may play an important role in the coming years.

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Patient safety gets the priority in the healthcare sector which can provide the much-needed traction to the market. Among the other factors, its ability to simplify the work process can be considered one of the major influencers. In addition, with rising investment in R D, the sector is only going to flourish. However, accuracy issues and high installation cost can hamper the expected growth rate of the market.

Segmentation:

MRFR, to provide an in-depth analysis of the healthcare asset management market, segments it by product, application, and end-user.

Based on the product, the healthcare asset management market can be segmented into radiofrequency identification (RFID) devices, real-time location systems (RTLS), and ultrasound infrared tags. The real-time location systems (RTLS) segment further includes software, hardware, and services. The hardware segment comprises tags/badges and readers/interrogators. The radiofrequency identification (RFID) devices segment consists hardware, and software and services of which, the hardware segment includes tags, readers/interrogators, and accessories. The tags can be sub-segmented into passive tags and active tags. The passive tags segment has been divided into high-frequency (HF) tags, ultra-high-frequency (UHF) tags and low-frequency (LF) tags.

Based on the application, the healthcare asset management market can be segmented into hospital asset management and pharmaceutical asset management. The hospital asset management segment has in its core temperature humidity monitoring, equipment tracking management, staff management infection control, patient management, and hand hygiene compliance. The pharmaceutical asset management segment includes drug anti-counterfeiting and supply chain management.

Based on the end-user, the healthcare asset management market can be segmented into hospital/clinic, laboratories, pharmaceutical companies, and biotechnology.

Regional Analysis:

MRFR included regions such as the Americas, Asia Pacific (APAC), Europe, and the Middle East Africa (MEA) in their report on the healthcare asset management market.

The Americas is a market that is highly evolved, both infrastructurally and technologically. High investment potential in the region enables various end-users in integrating the healthcare asset management market. These factors are going to play a big role in maintaining the premier position it is enjoying now in the global market. The Americas are likely to dominate the healthcare asset management market owing to the adoption of highly advanced technology, increasing demand for new technology to stop fake drugs(Drug counterfeiting) and the presence of a well-established healthcare system as well as the presence of a huge healthcare asset network.

Europe’s market is the second biggest one where the crisis of counterfeit drugs can be avoided with such effective methods. At the same time, the increasing investment for research and development sector can assure the market of better management technology in the coming years. The regional healthcare sector is relying much on the prosperity of healthcare asset management as it can ease the entire workflow to back the growing demands from patients. The AAPC market is all set to grow with the fastest CAGR during the forecast period. Rapid digitization in the healthcare sector is expected to boost the market. The MEA market can contribute a small part only as the region is technologically not that well-structured.

Competitive Landscape:

Notable players to take part in the healthcare asset management market are Airista Flow, GE Healthcare, CenTrak, Infor Inc., Tyco Security Products., Intelligent InSites, Motorola Solutions, Inc., Radianse, IBM Corporation, Siemens Healthineers, JADAK (a Novanta Company), Sonitor Technologies, Stanley Black Decker, Inc., Ekahau, Inc., and others.

In 2018, Motorola Solutions took over Avigilon. Avigilon is a Canada-based company that made its reputation as an AI, video analytics, and other services provider.

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