Global Surgical Instruments Tracking Systems Market Overview:
A surgical instrument tracking system improves patient safety. This is due to the fact that improved sterile processing and distribution processes make it easier to optimise patient care. It aids in the reduction of case delays because the system ensures that all necessary instruments are available on time, every time. To improve staff productivity, surgical instrument tracking systems provide insights into sterile processing department (SPD) processes. The system aids in resource and instrument management, reducing the need for on-the-spot steam sterilisation (IUSS). The rising incidence of surgical instrument misplacement and the rising number of hospital-acquired infections are driving the growth of the surgical instrument tracking system market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Censis Technologies, Inc. (Fortive) (United States), B. Braun (Germany), Getinge AB (Sweden), Becton, Dickinson and Company (United States), Steris (United States), STANLEY Healthcare (United States), SpaTrack Medical Ltd. (United Kingdom), Integra LifeSciences Holdings Corporation (United States), Xerafy (Singapore) and Fingerprint Medical Ltd. (United Kingdom) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Increasing Incidence of Misplacement of Surgical Instruments
- Rising Prevalence of Hospital-Acquired Infections is Another Key Factor Contributing to the Growth of Surgical Instrument Tracking System Market
Roadblocks
- Elective And Non-Elective Surgeries Postponed, Delayed, 0r Cancelled Worldwide due to COVID19 Pandemic there was a Marked Decrease in the use of Surgical Instrument Tracking Systems
Opportunities
- Increasing Demand for Inventory Management in Hospitals is Creating Opportunities for the Market
- Growing Healthcare Spending and Increasing Healthcare Infrastructure
Challenges
- High Systems Cost and Budgetary Constraints are Challenging Surgical Instruments Tracking Systems Market Growth
- Extended Investment Cycles are Hindering the Market Growth
Competitive Landscape:
The demand for surgical instrument tracking system is increasing with each passing day. The businesses in this industry facing major competition with leading players of the market that includes Censis Technologies, Inc, B. Braun, Getinge AB Becton, Dickinson and Company and others. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such as technological development, resource utilization to enhance their market position. The market leaders demonstrate a market-defining vision of how surgical instrument tracking system can help top-line business executives achieve their business objectives. Leaders have the ability to execute against that vision through both products and services. They have demonstrated solid business results in the form of revenue and earnings.
Some of the key players profiled in the report are Censis Technologies, Inc. (Fortive) (United States), B. Braun (Germany), Getinge AB (Sweden), Becton, Dickinson and Company (United States), Steris (United States), STANLEY Healthcare (United States), SpaTrack Medical Ltd. (United Kingdom), Integra LifeSciences Holdings Corporation (United States), Xerafy (Singapore) and Fingerprint Medical Ltd. (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like Haldor Advanced Technologies (Israel), RFID Discovery (United Kingdom) and Keir Surgical Ltd. (Canada). Analyst at AMA Research see United States Players to retain maximum share of Global Surgical Instruments Tracking Systems market by 2027. Considering Market by Technology, the sub-segment i.e. Barcodes will boost the Surgical Instruments Tracking Systems market. Considering Market by Offering, the sub-segment i.e. Hardware will boost the Surgical Instruments Tracking Systems market. Considering Market by End-User, the sub-segment i.e. Hospitals will boost the Surgical Instruments Tracking Systems market.
In February 2021 Getinge had announced partnership with XPO Logistics. XPO will provide warehouse and transportation services for Getinge's Infection Control business unit, with distribution from the Netherlands to the Europe, Middle East, and Africa (EMEA) region, under the terms of the new deal. XPO's distribution hub in Eindhoven, the Netherlands, already provides end-to-end supply chain solutions for eight other Getinge business divisions.
What Can be Explored with the Surgical Instruments Tracking Systems Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Surgical Instruments Tracking Systems Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Surgical Instruments Tracking Systems
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Surgical Instruments Tracking Systems market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Surgical Instruments Tracking Systems market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Hospitals, Clinics, End-use industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.