Industry Background:
Medical inventory software is a feature-rich and scalable application, which is specially designed to perform medical inventory management a need for any organization. It is a scalable application to which users can easily feature according to their requirements. It is specially designed to handle medical supplies procurement and record-keeping for multi-physician practices. It is built with advanced bar-code processing and online reporting in which consumers can access, track and maintain accurate medical inventory levels and also automate a significant portion of your procurement process. The software automated record feature helps to maintain accurate records wherever medical supplies, equipment, and other medical inventory items were received, how long they have been stored and when they were used. This is a fully automated medical inventory management system that can save users time and money by eliminating the need for manual activities including manual data entry and forms. It is intuitively controlled regardless of multi-physician which ensures that all medical staff and technicians have access and ordering capabilities at all times and that medical policies and procedures are standardized.
According to AMA Research, the market for Medical Inventory Software is expected to register a CAGR of 8.9% during the forecast period to 2030. This growth is primarily driven by Growing Demand Of From Healthcare Industry for Improving Operational Efficiency and Profitability
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
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 |
The Systems Software sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as BIT Consulting (Germany), Asset Infinity (India), EZOfficeInventory (United States), Meditab Software (United States), SmartTurn (United States), CardinalHealth (United States), Surgi-Sys (United States), WebOps (United States), Burns Technologies (Canada) and Clinic Essentials (Canada), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2020, Alcatel-Lucent Enterprise (ALE), a leading provider of communication, network, and cloud solutions, announced the launch of its OmniAccess® Stellar Asset Tracking solution as part of its location services portfolio and provides useful insights and real-time postioning data and analytics to meet the need for hospital teams to locate mission-critical euipment when life is at stake.
In October 2019, Idox has launched a new line of mobile devices to its iFIT hospital inventory management software, adopting the latest smart technology to provide a premium scanning solution that enables a safe, cost-effective solution and supports patient and clinical safety.The global medical inventory software market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability.
Influencing Trend:
Rising Adoption of Connected Devices in Healthcare Industry and Growing Purchasing Behaviour from Online Stores
Market Growth Drivers:
Growing Demand Of From Healthcare Industry for Improving Operational Efficiency and Profitability, The rise in Adoption of Cloud-Based Solutions and Rising Concern to Restraining the Large-Scale Of Drugs in the Pharmaceutical Industry
Challenges:
Growing Security Issue
Restraints:
Initial Installation Cost
Opportunities:
Rising Demand of Inventory Tracking Solutions from Healthcare Industry
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Medical Inventory Software Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Medical Inventory Software Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Medical Inventory Software players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Inventory Software Study Sheds Light on
The Medical Inventory Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Inventory Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Inventory Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.