Report Title “Healthcare Asset Management Market Research Report – Global Forecast till 2023” covers detailed competitive outlook and systematic framework of Global Industry at a global uniform platform.
Healthcare Asset Management Market Analysis
In recent years, organizations in the healthcare sector are facing various roadblocks. This includes the need for better resource management and stringent regulatory requirements. Proper accountability and management of assets are some of the benefits associated with the implementation of healthcare asset management. It is highly beneficial for tracking surgical equipment, for patients, newborns, and personnel identification for audit trails and treatment, and inventory management.
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The global Healthcare Asset Management market is projected to experience a massive growth period with a CAGR of 18.2%. The report published by the Market Research Future (MRFR) team also reveals that the imperative need to increase the efficacy of available resources, concern regarding patient safety, and the rising acceptance and adoption of advanced technology in the healthcare sector is slated to drive the market growth. Additionally, increasing R&D expenditure and applied strategies like new product development by major market players are adding more fuel to the growth of the Healthcare Asset Management market.
On the flip side, concerns regarding patient safety, the high cost of installation, lackluster implementation owing to infrastructural and organizational issues, and accuracy problems with the devices are all the major factors that can cause a downfall to the market growth during the assessment period.
Healthcare Asset Management Market Segmentation
The global healthcare asset management market is classified in terms of application, product, and end-user.
By product, the market includes radiofrequency identification devices (RFID), real-time location systems (RTLS), and ultrasound & infrared tags.
The RTLS segment is further narrowed down into software, hardware, and services. The hardware segment gets divided into readers/interrogators and tags/badges.
The RFID segment is also narrowed down further into software, hardware, and services. Hardware is sub-segmented into accessories, tags, and readers/interrogators. Tags is divided into active and passive tags. The passive tags breaks down into ultra-high-frequency tags (UHF), high-frequency tags (HF), and low-frequency tags (LF).
By application, the market divides into pharmaceutical asset management and hospital asset management.
Herein, the pharmaceutical asset management includes supply chain management and drug anti-counterfeiting. Whereas, the hospital asset management segment divides into patient management, staff management, equipment tracking and management, infection control and hand hygiene compliance, and temperature and humidity monitoring.
By end-user, the market includes Laboratories, Biotechnology, Hospital/Clinic, and Pharmaceutical companies.
Healthcare Asset Management Market Regional Analysis
Analyzing the geographical segmentation of Healthcare Asset Management Market is of utmost importance to grab a better understanding of the market. The global Healthcare Asset Management market comprises major regions like Europe, the Americas, the Middle East & Africa, and the Asia-Pacific.
The Americas are projected to be the dominant market player due to the high adoption rate of advanced technologies, demand for new and innovative technologies to prevent the usage of fake drugs, and the presence of a well-rounded and established healthcare system.
The European region is believed to be the second-biggest market for healthcare asset management. Here the market growth is aided by government funding and pouring support of the healthcare sector with increasing endeavors in research and development. With the rising incidences of drug counterfeiting, there has been an inverse demand for healthcare asset management services.
Projected as the fastest-growing regional market, Asia-Pacific will be a major player in contributing to the growing percentage of the global healthcare asset management market during the review period. The lack of development of the healthcare sector, lackluster medical facilities, and the absence of technical know-how in the Middle East & Africa region will contribute to the snail-paced growth of the market.
Healthcare Asset Management Market Competitive Analysis
The key players in this market are Intelligent InSites, IBM Corporation, Sonitor Technologies, Siemens Healthineers, Infor Inc., GE Healthcare, cenTrak, Airista Flow, JADAK (a Novanta Company), Radianse, Tyco Security Products., Stanley Black & Decker, Inc., Motorola Solutions, Inc., and Ekahau, Inc.
On Feb 2019, a globally renowned multinational IT company, IBM, announced Cigna and Sentara Healthcare to have joined an all new health utility network by using blockchain. The move aims to bring-forward a broad ecosystem of healthcare-based organizations in a highly safe and secure, shared environment. This will enable organizations to share, develop, and deploy solutions using blockchain to drive digital transformation in the healthcare industry.
On August 2018, Infor Inc., a key player in the healthcare asset management landscape, announced a latest and updated version of the Enterprise Asset Management (EAM) software.
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