Given the debilitating impact of COVID-19 (Coronavirus) on Healthcare Asset Management Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
Healthcare Asset Management Market Analysis
The healthcare asset management market is likely to expand at an 18.2% CAGR between 2018-2023, reveals the new Market Research Future (MRFR) report. Healthcare asset management, simply put, is used for reducing human error in healthcare and increasing the efficient usage of available resources. It is widely used in pharmaceutical asset management and hospital asset management.
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Numerous factors are adding to the healthcare asset management market demand. Such factors, as revealed by the latest MRFR report, include aggressive strategies adopted by industry players such as acquisitions and mergers, increasing spending on R&D, increasing concern about patient safety, growing acceptance of advanced technology in healthcare, and burgeoning demand for healthcare asset management services that are easy to use.
On the contrary, issues associated with the device, patient safety, and high installation cost are factors that may limit the healthcare asset management market growth over the forecast period.
Healthcare Asset Management Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the healthcare asset management market based on end user, application, and product.
By product, the healthcare asset management market is segmented into ultrasound & infrared tags, radio frequency identification (RFID) devices, and real-time location systems (RTLS). RTLS is again segmented into services, hardware, and software. The hardware segment is again segmented into readers/interrogators and tags/badges. The RFID devices is again segmented into services, software, and hardware. The hardware segment is again segmented into accessories, readers/interrogators, and tags. The tags segment is again segmented into active tags and passive tags. Passive tags are again segmented into low frequency (LF) tags, ultra-high frequency (UHF), and high-frequency (HF) tags.
By application, the healthcare asset management market is segmented into pharmaceutical asset management and hospital asset management. Hospital asset management is again segmented into hand hygiene compliance, staff management and infection control, temperature and humidity monitoring, patient management, and equipment tracking and management. The pharmaceutical asset management is again segmented into supply chain management and drug anti-counterfeiting.
By end user, the healthcare asset management market is segmented into biotechnology, pharmaceutical companies, laboratories, and hospital/clinic.
Healthcare Asset Management Market Regional Analysis
By region, the global healthcare asset management market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will spearhead the market over the forecast period. Factors adding to the growth of the healthcare asset management market in the region include the presence of a massive network of healthcare service providers, the presence of a well-developed healthcare system in the region, growing demand for new technology to prevent drug counterfeiting, and adoption of advanced technology.
The healthcare asset management market in Europe is predicted to hold the second-largest share over the forecast period. Factors adding to the healthcare asset management market in the region include growing demand for healthcare asset management services to stop drug counterfeiting, increasing research and development, and government support & funding for the healthcare sector.
The healthcare asset management market in the APAC region is predicted to grow at a quick pace over the forecast period for increasing investments in healthcare, an increasing number of expansions by industry players, increasing digitalization, and burgeoning demand for asset management software that are easy to use.
The healthcare asset management market in the MEA is predicted to have a small share over the forecast period for lack of technical knowledge, poor medical facilities, and an underdeveloped healthcare sector.
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Healthcare Asset Management Market Key Players
Key players profiled in the global healthcare asset management market report include Ekahau, Inc., Stanley Black & Decker, Inc., Sonitor Technologies, Siemens Healthineers, JADAK (a Novanta Company), Radianse, Intelligent InSites, Motorola Solutions, Inc., Intelligent InSites, Tyco Security Products., IBM Corporation, Infor Inc., GE Healthcare, Airista Flow, and cenTrak.