Technological advancements such as RFID and real-time location systems (RTLS) Fuel Growth in the Healthcare Asset Management Market

 

Healthcare asset management refers to asset tracking software that tracks medical equipment and improves asset utilization. It helps hospitals allocate resources efficiently and enhance patient care. These solutions enable real-time location of medical equipment, streamline maintenance processes, prevent equipment loss, and extend product lifecycles. The global Healthcare Asset Management Market is estimated to be valued at US$ 44.16 billion in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends
Growth Accelerated by Technological Advancements: Technological advancements such as RFID and real-time location systems (RTLS) have accelerated the growth of the healthcare asset management market. These solutions facilitate automated tracking of high-value medical equipment and help reduce theft and misplacement. For instance, RTLS uses sensors and tags mounted on equipment to provide real-time visibility of asset locations on hospital floor maps. This enhances workflow efficiency and staff productivity. Further, APIs and mobility features in asset management platforms have augmented their adoption across healthcare organizations.


Segment Analysis
The healthcare asset management market is segmented based on product type into RFID, RTLS, ultrasound tags and infrared tags. Amongst these, the RTLS (Real-Time Location Systems) segment is dominating the segment and is expected to continue dominating the market during the forecast period. RTLS sub-segment dominates as it offers an accurate, scalable and cost-effective way to track assets in real time, which helps healthcare facilities optimize workflow and workflow efficiencies.

Key Takeaways
The global Healthcare Asset Management Market is expected to witness high growth. The global Healthcare Asset Management Market is estimated to be valued at US$ 44.16 billion in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030.

Regional analysis related content comprises the North America region is expected to dominate the healthcare asset management market during the forecast period. This is attributed to rising adoption of asset management solutions across healthcare facilities to improve operational efficiency and cost reduction.

Key players related content comprises Key players operating in the Healthcare Asset Management Market are Stanley Healthcare, ZIH Corp, Ekahau, Awarepoint Corporation, and IBM Corporation. Key players focus on the approval and commercialization of their drugs and enhancing their product portfolios. For instance, in June 2022, Awarepoint introduced its RTLS-Healthcare platform to drive improved operational efficiencies in healthcare settings.

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