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According to The Business Research Company’s research on the hospital asset tracking and inventory management systems market, growing implementation of real-time location systems (RTLS) is a key trend gaining popularity in the hospital asset tracking and inventory management systems market. Major companies operating in the hospital asset tracking and inventory management systems sector are focused on the implementation of real-time locating systems (RTLS) to strengthen their position in the market. For instance, in January 2021, Midmark RTLS, a US-based RTLS technology solutions company launched a Bluetooth low-energy cloud-based asset tracking solution that modernizes asset tracking capabilities for hospitals. This innovative solution supports hospital staff to find the required equipment quickly and effectively. The development of this innovative technology by Midmark RTLS is another step forward in the hospital asset tracking and inventory management systems market.
The global hospital asset tracking and inventory management systems market size is expected to grow from $23.23 billion in 2021 to $25.12 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The hospital asset tracking and inventory management systems market growth is expected to reach $31.97 billion in 2026 at a CAGR of 6.2%.
The growing load of patients in hospitals has contributed to the growth of the hospital asset tracking and inventory management systems market going forward. The COVID 19 pandemic and lifestyle diseases, as well as other illnesses including cancer, are brought on by the increasing number of people in hospitals who require hospitalization. An increase in the number of patients has increased the demand for equipment and inventory which in turn is driving the growth of asset tracking and inventory management systems. As per data by the National Institutes of Health (NIH), an agency of the US government, 9,00,000 COVID-19 hospitalizations occurred in November 2020 and were attributed to the conditions of obesity, hypertension, diabetes, and heart failure in the United States. Also, according to data by National Center for Health Statistics, a US-based government agency, in 2022, 1,918,030 new cancer cases are forecasted in the United States. Therefore, the growing load of patients in hospitals is driving the growth of the hospital asset tracking and inventory management systems market.
Major players in the hospital asset tracking and inventory management systems market are ZIH Corp, Ascom, GE Healthcare (General Electric Company), CenTrak (Halma plc), Honeywell International Inc., Alcatel-Lucent Enterprise, Epicor Software Corporation, Stanley, Black and Decker Inc, Sonitor Technologies Inc., Impinj Inc., Ekahau, and Midmark Corporation.
The global hospital asset tracking and inventory management systems market is segmented by product type into mobile, fixed, other inventory; by technology into hardware, software; by application into equipment or device or supplies tracking, equipment maintenance.
North America was the largest region in the hospital asset tracking and inventory market in 2021. The regions covered in the hospital asset tracking and inventory management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Hospital Asset Tracking And Inventory Management Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide hospital asset tracking and inventory management systems market forecast size and growth, hospital asset tracking and inventory management systems market segments, hospital asset tracking and inventory management systems market trends, hospital asset tracking and inventory management systems market drivers and restraints, hospital asset tracking and inventory management systems market leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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