Global Hospital Asset Management Market, By Product (Real-Time Location Systems, Radio-Frequency Identification, Ultrasound, Infrared), Application (Patient Management, Staff Management, Instrument Management, Supply Chain Management), End-User (Hospitals and Clinics, Pharmaceutical Companies, Biotechnology Companies, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Hospital Asset Management Market
Data Bridge Market Research analyses that the hospital asset management market to be grow at a CAGR of 22.1% in the forecast period of 2022-2029 and is likely to reach the USD 69.23 billion by 2029.
Hospital workflow is time-consuming and repetitive, comprising a huge quantity of paperwork for admissions, discharges, equipment maintenance, and nurse rounding, among other things. These are essential for enhancing hospital efficiency and ensuring patient experience. The importance of hospital asset management services in protecting the safety of hospital employees cannot be overstated. Consequently, hospital asset management plans aid in the reduction of operating and capital asset costs.
The rising demand for better asset management in hospitals and need to rise efficiency in healthcare institutions will act as major driver accelerating the hospital asset management market’s growth rate. The acceptance of asset management solutions in pharmaceutical industry will increase the demand for hospital asset management and further propel the market’s growth rate. Another significant factor resulting in the expansion of market is the reduction in the prices of radiofrequency identification (RFID) tags. Furthermore, surging healthcare expenditure and increasing number of applications of healthcare asset management solutions are the major drivers that will enhance the growth of market. Likewise, rise in the demand with increasing concerns of drug counterfeiting will show positive impact on the market’s growth rate. Rapid urbanisation, changing lifestyle and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of hospital asset management market. The rise in the number of chronic diseases and increasing concerns for patient safety will flourish the growth rate of hospital asset management market.
Moreover, the development of IOT based healthcare asset management and advancement in hospital asset management device technology will provide beneficial opportunities for the hospital asset management market growth. Additionally, the increasing demand from emerging markets and technological advancements will further expand the hospital asset management market’s growth rate in the future.
On the other hand, high cost associated with radiofrequency identification (RFID) readers will obstruct the market growth. Also, intense competition among market players and issues related to data security and privacy will challenge the hospital asset management market. However, organizational and infrastructural facility of healthcare institutions affecting implementation and less awareness will act as restrain and further impede the growth rate of market.
This hospital asset management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on hospital asset management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Hospital Asset Management Market Scope and Market Size
The hospital asset management market is segmented on the basis of product, application and end- user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on product, hospital Asset Management market is segmented into real-time location systems, radio-frequency identification, ultrasound and infrared.
- Hospital asset management market based on application has also been segmented into patient management, staff management, instrument management and supply chain management.
- Based on end-user, hospital asset management market is segmented into hospitals and clinics, pharmaceutical companies, biotechnology companies and others.
Hospital Asset Management Market Country Level Analysis
The hospital asset management market is analysed and market size insights and trends are provided by country, product, application and end- user as referenced above.
The countries covered in the hospital asset management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the hospital asset management market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the availability of quality infrastructure and rising adoption of low cost medical systems in this region. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the innovations in emerging economies such as India and China.
The country section of the hospital asset management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The hospital asset management market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for hospital asset management market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the hospital asset management market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Global Hospital Asset Management Market Share Analysis
The hospital asset management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hospital asset management market.
Some of the major players operating in the hospital asset management market are General Electric, CenTrak, AiRISTA Flow, Inc., Ascom, STANLEY Healthcare, Sonitor Technologies., Zebra Technologies Corp., IBM, Infor, Midmark Corporation., AeroScout, LLC., Impinj, Inc., Airista Flow, Inc., Motorola Solutions, Inc., Ekahau, Trimble Inc., RAM, and Radianse, among others.
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