About Hospital Asset Management
The global Hospital Asset Management market is expected to witness in high demand in the forecasted period due to increasing technological advancement in Asset Management. The hospital assets management system helps to manage as well as safeguard hospital equipment. It uses automated software to monitor the environment in hospital property. and The initiation of improved technologies in the hospital asset management market is accentuating the utilization pace of mobile medical devices such as wheelchairs, IV pumps, and many more. This is again paving grounds for enhancements in management efficacy of staff & inventory & is improving the quality of patient care. There are various types of products are used in hospital assets management system including real-time location systems (RTLS), radio-frequency identification (RFID), ultrasound and infrared.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.68% |
The leading players in the market to avail competitive advantages continuously adapt the research and development process and making the technology up-gradation in the software. Also, with the strategic collaboration with another company in the same vertical, combine the technology and delivering user experience. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Hospital Asset Management market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GE Healthcare (United States), IBM Corporation (United States), AiRISTA Flow (United States), Elpas (United States), CenTrak, Inc. (United States), Honeywell International Inc. (United States), ThingMagic [A Novanta Company (United States)], Sonitor (Norway), Stanley Healthcare (United States) and Versus Technology, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Zebra Technologies (United States), Ascom (Switzerland) and Impinj, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hospital Asset Management market by Type (Real-time Location Systems (RTLS), Radio-frequency Identification (RFID), Ultrasound and Infrared), Application (Hospital [Equipment, Patient Monitoring, Staff Management, Hand Hygiene] and Pharma [Drug Counterfeiting, Supply Chain]) and Region.
On the basis of geography, the market of Hospital Asset Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by End User, the sub-segment i.e. Hospitals and Clinics will boost the Hospital Asset Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Concerns about Drug Counterfeiting, Drop-in Costs of RFID Tags and Growing Influence of the Technologies Such As Smart Active Labels And Zigbee
Market Growth Drivers:
The Increasing Requirement for Enhanced Asset Management in Hospitals, High Adoption of Asset Management Solutions in the Pharmaceutical Industry and Increasing Problems in the Management of the Supply Chain
Challenges:
Rising Concerns Related to Data Security as well as Privacy
Restraints:
High Cost associated with RFID Readers
Opportunities:
Huge Demand for IoT-Based Healthcare Asset Management (IOT-HAM)Growing Application Areas of Healthcare Asset Management Solutions and Technological Advancements Associated with Hospital Asset Management
Market Leaders and their expansionary development strategies
In February 2024, Macquarie Asset Management, via Macquarie European Infrastructure Fund 7, is to acquire Beacon Hospital after its approach to the current consortium of shareholders, and subsequent offer, was accepted. Beacon Hospital is a private healthcare facility in Dublin that provides a full range of acute care and specialist diagnostic services to patients.
In March 2023, GE HealthCare announced the launch of a new asset management & network supervision solution, ReadySee, and the Portrait Mobile monitoring solution. We are transforming healthcare by delivering advanced technology to improve patients care options, experience, and outcomes
Key Target Audience
RTLS/RFID Hardware and Software Vendors, Pharmaceutical Companies, Healthcare Providers, Government Regularities Bodies, Government Research Organization, Private Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.