HOME Top Market Reports Healthcare Asset Management Market by Product (RFID (Active, Passive), RTLS, Ultrasound, Infrared), Application (Hospital (Equipment, Patient Monitoring, Staff Management, Hand Hygiene), Pharma (Drug Counterfeiting, Supply Chain)) - Global Forecast to 2023

Healthcare Asset Management Market by Product (RFID (Active, Passive), RTLS, Ultrasound, Infrared), Application (Hospital (Equipment, Patient Monitoring, Staff Management, Hand Hygiene), Pharma (Drug Counterfeiting, Supply Chain)) - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: July 2018
Report Code: HIT 2061

 

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[147 Pages Report] The healthcare asset management market is expected to reach USD 35.19 billion by 2023 from USD 6.89 billion in 2017, at a CAGR of 31.4%. The base year considered for the study is 2017 and the forecast period is from 2018 to 2023.

The objectives of this study are as follows:

  • To define, describe, and forecast the global healthcare asset management market on basis of product, application, and region
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia, and the Rest of the World (RoW)
  • To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
  • To track and analyze competitive developments such as acquisitions; new product launches; expansions; agreements, partnerships, and collaborations; and acquisitions in the healthcare asset management market

Market Drivers

Need for better asset management in hospitals

Growing pressure to better manage their existing workforce has compelled healthcare organizations across the globe to adopt effective asset management solutions and technologies. Most healthcare organizations spend a large portion of their budget on tracking hospital equipment. For example, it was reported that ~USD 6 million worth of state-owned hospital equipment was found to be missing in Louisiana State University (LSU) hospitals; newly purchased equipment from the hospital were also not properly tracked. Thus, wastage of time in searching for lost assets and poor asset management practices can lead to serious consequences. According to a recent survey conducted by the Nursing Times, more than one-third of nurses spend at least an hour locating equipment during an average hospital shift. This not only impacts budgets but also compromises the quality of patient care provided.

Acceptance of asset management solutions in the pharmaceutical industry

The use of radiofrequency identification (RFID) in the pharmaceutical industry has grown in recent years. The technology has emerged to become a systematic part of supply chain management in international pharmaceutical production and distribution. Drug counterfeiting is a significant threat to healthcare systems across the globe. Over the years, the number of new cases of drug counterfeiting has grown significantly. This can primarily be attributed to the Internet-based sales of pharmaceuticals. According to Pharmaceutical Security Institute (PSI), in 2016, there was a 5% increase in the number of cases of pharmaceutical counterfeiting, theft, and diversion. In 2016, 3,147 cases were reported as compared to 3,002 cases in 2015 and 2,177 cases in 2014.

Research Methodology

The study estimates the healthcare asset management market size for 2018 and projects its demand till 2023. In the primary research process, various sources from both demand side and supply side were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the demand side include various industry CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the various players in the healthcare asset management market. For the market estimation process, both top-down and bottom-up approaches were used to estimate and validate the market size of the healthcare asset management market as well as to estimate the market size of various other dependent submarkets. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data was consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report.

Healthcare Asset Management Market

To know about the assumptions considered for the study, download the pdf brochure

The healthcare asset management market is marked by the presence of several big and small players. Prominent players offering healthcare asset management products include AiRISTA Flow (US), Elpas (US), CenTrak, Inc.(US), ThingMagic [A Novanta Company (US)], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US), Zebra Technologies (US), GE Healthcare (US), and IBM Corporation (US).

Target Audience for this Report:

  • RTLS/RFID hardware and software vendors
  • Pharmaceutical companies
  • Healthcare providers
  • Government agencies
  • Research and consulting firms
  • Venture capitalists

Product Launches


Month & Year

Company

Segment

Description

March 2018

Elpas

Eiris Software

Eiris Software Version 5.0.7

March 2018

Versus Technology

Badges

Clearview Mini (wearable wrist RTLS Badge)


Agreements and Partnerships


Month & Year

Deal Type

Company 1

Company 2

Description

February 2018

Partnership

Sonitor Technologies

Stanley Healthcare (US)

With this partnership, Stanley Healthcare will integrate Sonitor Sense (a high definition ultrasound-based IPS system) into its existing AeroScout RTLS platform.

June 2017

Partnership

Zebra Technologies (US)

GE Healthcare (US)

 Zebra, along with GE will introduce Encompass, a Wi-Fi based asset management solution for mobile assets and inventory management.


Acquisitions

Month & Year

Company 1

Company 2

Description

January 2017

Novanta Corporation (US)

ThingMagic, a division of Trimble Inc. (US)

Novanta acquired ThingMagic business from Trimble. This acquisition helped Novanta to expand their RFID portfolio to address the growing need for improvements in workflow solutions, patient safety, anti-counterfeiting, and asset tracking on medical markets.

March 2016

AiRISTA Flow

Ekahau (US)

AiRISTA Flow acquired Ekahau, a leading provider of Wi-Fi-based location services and workforce solutions.


Source: Press Releases

Expansions


Month & Year

Company

Country/Region

Description

June 2017

IBM

England, US, and Australia

IBM opened four new IBM cloud data centers, two in London, one in California, and one in Sydney.

April 2017

IBM

Finland

IBM opened the IBM Watson Health Center on Helsinki, Finland. The center is part of five-year landmark collaboration agreement between Tekes, the Finnish Funding Agency.


Scope of the Report

This report categorizes the healthcare asset management market into following segments and subsegments:

Healthcare Asset Management Market, By Product

  • Radiofrequency Identification (RFID) Devices
    • Hardware
      • Tags
        • Passive Tags
          • Low-frequency
          • High-frequency
          • Ultra-high-frequency
        • Active Tags
      • Readers/Interrogators
      • Antennas
      • Accessories
    • Software
    • Services
  • Real-time location systems (RTLS)
    • Hardware
      • Tags/Badges
      • Readers/Interrogators
    • Software
    • Services

By Application

  • Hospital Asset Management
    • Equipment Tracking and Management
    • Patient Management
    • Temperature and Humidity Control
    • Staff Management
    • Infection Control and Hand Hygiene Compliance
  • Pharmaceutical Asset Management
    • Drug Anti-counterfeiting
    • Supply Chain Management

By Region

  • North America
    • US
    • Canada
  • Europe
  • Asia
  • Rest of the World (RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company‘s specific needs.

The following customization options are available for this report.

Company Information

Detailed analysis and profiling of additional market players (up to 5)

Product Analysis

Product Matrix, which gives a detailed comparison of product portfolios of the top companies

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Market Breakdown and Data Triangulation
    2.4 Assumptions for the Study

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Healthcare Asset Management Market Overview
    4.2 Healthcare Asset Management Products Market, By Type, (2018 vs 2023)
    4.3 RFID Market, By Component
    4.4 Geographic Analysis: Healthcare Asset Management Market, By Application and Region (2018)
    4.5 Geographic Snapshot: Healthcare Asset Management Market (2018–2023)

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Market Drivers
                    5.2.1.1 Need for Better Asset Management in Hospitals
                    5.2.1.2 Acceptance of Asset Management Solutions in the Pharmaceutical Industry
                    5.2.1.3 Decline in Prices of RFID Tags
           5.2.2 Market Restraints
                    5.2.2.1 High Cost of RFID Readers
           5.2.3 Market Opportunities
                    5.2.3.1 IOT-Based Healthcare Asset Management (IOT-HAM)
                    5.2.3.2 Expanding Application Areas of Healthcare Asset Management Solutions
                    5.2.3.3 Technological Advancements
                    5.2.3.4 Emerging Economies
           5.2.4 Market Challenges
                    5.2.4.1 Issues Related to Data Security and Privacy

6 Healthcare Asset Management Market, By Product (Page No. - 41)
    6.1 Introduction
    6.2 Radiofrequency Identification (RFID) Devices
           6.2.1 Hardware
                    6.2.1.1 Tags
                               6.2.1.1.1 Passive Tags
                                             6.2.1.1.1.1 High-Frequency (HF) Tags
                                             6.2.1.1.1.2 Ultra-High-Frequency(UHF) Tags
                                             6.2.1.1.1.3 Low-Frequency (LF) Tags
                               6.2.1.1.2 Active Tags
                    6.2.1.2 Readers/Interrogators
                    6.2.1.3 Antennas
                    6.2.1.4 Accessories
           6.2.2 Software
           6.2.3 Services
    6.3 Real-Time Location Systems (RTLS)
           6.3.1 Hardware
                    6.3.1.1 Tags/Badges
                    6.3.1.2 Readers/Interrogators
           6.3.2 Software
           6.3.3 Services
    6.4 Ultrasound & Infrared Tags

7 Healthcare Asset Management Market, By Application (Page No. - 64)
    7.1 Introduction
    7.2 Hospital Asset Management
           7.2.1 Equipment Tracking and Management
           7.2.2 Patient Management
           7.2.3 Temperature and Humidity Monitoring
           7.2.4 Staff Management
           7.2.5 Infection Control and Hand Hygiene Compliance
    7.3 Pharmaceutical Asset Management
           7.3.1 Drug Anti-Counterfeiting
           7.3.2 Supply Chain Management

8 Healthcare Asset Management Market, By Region (Page No. - 75)
    8.1 Introduction
    8.2 North America
           8.2.1 US
           8.2.2 Canada
    8.3 Europe
    8.4 Asia
    8.5 Rest of the World

9 Competitive Landscape (Page No. - 109)
    9.1 Introduction
    9.2 Market Ranking Analysis, By Key Player
    9.3 Competitive Scenario
           9.3.1 Product Launches
           9.3.2 Agreements and Partnerships
           9.3.3 Acquisitions
           9.3.4 Expansions

10 Company Profiles (Page No. - 114)
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, MnM View)*
     10.1 Airista Flow (An Airista Affiliate)
     10.2 Elpas
     10.3 GE Healthcare (A General Electric Company)
     10.4 Centrak
     10.5 IBM
     10.6 Intelligent Insites
     10.7 Thingmagic (A Novanta Company)
     10.8 Sonitor
     10.9 Stanley Black & Decker, Inc.
     10.10 Versus Technology (A Midmark Company)
     10.11 Zebra Technologies

*Details on Marketsandmarkets View, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 140)
     11.1 Insights From Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (120 Tables)

Table 1 Healthcare Asset Management Market, By Product, 2016–2023 (USD Million)
Table 2 Healthcare Asset Management Market for RFID Devices, By Component, 2016–2023 (USD Million)
Table 3 RFID Hardware Market, By Type, 2016–2023 (USD Million)
Table 4 RFID Hardware Market, By Region, 2016–2023 (USD Million)
Table 5 North America: RFID Hardware Market, By Country, 2016–2023 (USD Million)
Table 6 RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 7 Passive RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 8 High-Frequency Passive RFID Tags Market, By Region, 2016–2023 (USD Million)
Table 9 North America: High-Frequency Passive RFID Tags Market, By Country, 2016–2023 (USD Million)
Table 10 Ultra-High-Frequency Passive RFID Tags Markets, By Region, 2016–2023 (USD Million)
Table 11 North America: Ultra-High-Frequency Passive RFID Tags Market, By Country, 2016–2023 (USD Million)
Table 12 Low-Frequency Passive RFID Tags Market, By Region, 2016–2023 (USD Million)
Table 13 North America: Low-Frequency Passive RFID Tags Market, By Country, 2016–2023 (USD Million)
Table 14 Active RFID Tags Market, By Region, 2016–2023 (USD Million)
Table 15 North America: Active RFID Tags Market, Country, 2016–2023 (USD Million)
Table 16 RFID Readers/Interrogators Market, By Region, 2016–2023 (USD Million)
Table 17 North America: RFID Readers/Interrogators Market, By Country, 2016–2023 (USD Million)
Table 18 RFID Antennas Market, By Region, 2016–2023 (USD Million)
Table 19 North America: RFID Antennas Market, By Country, 2016–2023 (USD Million)
Table 20 RFID Accessories Market, By Region, 2016–2023 (USD Million)
Table 21 North America: RFID Accessories Market, By Country, 2016–2023 (USD Million)
Table 22 RFID Software Market, By Region, 2016–2023 (USD Million)
Table 23 North America:RFID Software Market,By Country, 2016–2023 (USD Million)
Table 24 RFID Services Market,By Region,2016–2023 (USD Million)
Table 25 North America: RFID Services Market,By Country, 2016–2023 (USD Million)
Table 26 Healthcare Asset Management Market for Real-Time Location Systems, By Component, 2016–2023 (USD Million)
Table 27 RTLS Hardware Market, By Type, 2016–2023 (USD Million)
Table 28 RTLS Tags/Badges Market, By Region, 2016–2023 (USD Million)
Table 29 North America: RTLS Tags/Badges Market, By Country, 2016–2023, (USD Million)
Table 30 RTLS Readers/ Interrogators Market, By Region, 2016–2023 (USD Million)
Table 31 North America: RTLS Readers/ Interrogators Market, By Country, 2016–2023 (USD Million)
Table 32 RTLS Software Market, By Region, 2016–2023 (USD Million)
Table 33 North America: RTLS Software Market, By Country, 2016–2023 (USD Million)
Table 34 RTLS Services Market, By Region, 2016–2023 (USD Million)
Table 35 North America: RTLS Services Market, By Country, 2016–2023 (USD Million)
Table 36 Healthcare Asset Management Market for Ultrasound & Infrared Tags, By Region, 2016–2023 (USD Million)
Table 37 North America: Healthcare Asset Management Market for Ultrasound & Infrared Tags, By Country, 2016–2023 (USD Million
Table 38 Healthcare Asset Management Market, By Application, 2016–2023 (USD Million)
Table 39 Hospital Asset Management Market, By Type, 2016–2023 (USD Million)
Table 40 Equipment Tracking and Management Market, By Region, 2016–2023 (USD Million)
Table 41 North America: Equipment Tracking and Management Market, Country, 2016–2023 (USD Million)
Table 42 Patient Management Market, By Region, 2016–2023 (USD Million)
Table 43 North America: Patient Management Market, By Country, 2016–2023 (USD Million)
Table 44 Temperature and Humidity Monitoring Market, By Region, 2016–2023 (USD Million)
Table 45 North America: Temperature and Humidity Monitoring Market, By Country, 2016–2023 (USD Million)
Table 46 Staff Management Market, By Region, 2016–2023 (USD Million)
Table 47 North America: Staff Management Market, By Country, 2016–2023 (USD Million)
Table 48 Infection Control and Hand Hygiene Compliance Market, By Region, 2016–2023 (USD Million)
Table 49 North America: Infection Control and Hand Hygiene Compliance Market, By Country, 2016–2023 (USD Million)
Table 50 Pharmaceutical Asset Management Market, By Type, 2016–2023 (USD Million)
Table 51 Drug Anti-Counterfeiting Market, By Region, 2016–2023 (USD Million)
Table 52 North America: Drug Anti-Counterfeiting Market, By Country, 2016–2023 (USD Million)
Table 53 Supply Chain Management Market, By Region, 2016–2023 (USD Million)
Table 54 North America:Supply Chain Management Market, By Country, 2016–2023 (USD Million)
Table 55 Healthcare Asset Management Market, By Region, 2016–2023 (USD Million)
Table 56 North America: Healthcare Asset Management Market By Country, 2016–2023 (USD Million)
Table 57 North America: Healthcare Asset Management Market, By Product, 2016–2023 (USD Million)
Table 58 North America: RFID Market, By Component, 2016–2023 (USD Million)
Table 59 North America: RFID Hardware Market, By Type, 2016–2023 (USD Million)
Table 60 North America: RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 61 North America: Passive RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 62 North America: RTLS Market, By Component, 2016–2023 (USD Million)
Table 63 North America: RTLS Hardware Market, By Type, 2016–2023 (USD Million)
Table 64 North America: Healthcare Asset Management Market, By Application, 2016–2023 (USD Million)
Table 65 North America: Hospital Asset Management Market, By Type, 2016–2023 (USD Million)
Table 66 North America: Pharmaceutical Asset Management Market, By Type, 2016–2023 (USD Million)
Table 67 US: Healthcare Asset Management Market, By Product, 2016–2023 (USD Million)
Table 68 US: RFID Market, By Component, 2016–2023 (USD Million)
Table 69 US: RFID Hardware Market, By Type, 2016–2023 (USD Million)
Table 70 US: RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 71 US: Passive RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 72 US: RTLS Market, By Component, 2016–2023 (USD Million)
Table 73 US: RTLS Hardware Market, By Type, 2016–2023 (USD Million)
Table 74 US: Healthcare Asset Management Market, By Application, 2016–2023 (USD Million)
Table 75 US: Hospital Asset Management Market, By Type, 2016–2023 (USD Million)
Table 76 US: Pharmaceutical Asset Management Market, By Type, 2016–2023 (USD Million)
Table 77 Canada: Healthcare Asset Management Market, By Product, 2016–2023 (USD Million)
Table 78 Canada: RFID Market, By Component, 2016–2023 (USD Million)
Table 79 Canada: RFID Hardware Market, By Type, 2016–2023 (USD Million)
Table 80 Canada: RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 81 Canada: Passive RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 82 Canada: RTLS Market, By Component, 2016–2023 (USD Million)
Table 83 Canada: RTLS Hardware Market, By Type, 2016–2023 (USD Million)
Table 84 Canada: Healthcare Asset Management Market, By Application, 2016–2023 (USD Million)
Table 85 Canada: Hospital Asset Management Market, By Type, 2016–2023 (USD Million)
Table 86 Canada: Pharmaceutical Asset Management Market, By Type, 2016–2023 (USD Million)
Table 87 Europe: Healthcare Asset Management Market, By Product, 2016–2023 (USD Million)
Table 88 Europe: RFID Market, By Component, 2016–2023 (USD Million)
Table 89 Europe: RFID Hardware Market, By Type, 2016–2023 (USD Million)
Table 90 Europe: RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 91 Europe: Passive RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 92 Europe: RTLS Market, By Component, 2016–2023 (USD Million)
Table 93 Europe: RTLS Hardware Market, By Type, 2016–2023 (USD Million)
Table 94 Europe: Healthcare Asset Management Market, By Application, 2016–2023 (USD Million)
Table 95 Europe: Hospital Asset Management Market, By Type, 2016–2023 (USD Million)
Table 96 Europe: Pharmaceutical Asset Management Market, By Type, 2016–2023 (USD Million)
Table 97 Asia: Healthcare Asset Management Market, By Product, 2016–2023 (USD Million)
Table 98 Asia: RFID Market, By Component, 2016–2023 (USD Million)
Table 99 Asia: RFID Hardware Market, By Type, 2016–2023 (USD Million)
Table 100 Asia: RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 101 Asia: Passive RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 102 Asia: RTLS Market, By Component, 2016–2023 (USD Million)
Table 103 Asia: RTLS Hardware Market, By Type, 2016–2023 (USD Million)
Table 104 Asia: Healthcare Asset Management Market, By Application, 2016–2023 (USD Million)
Table 105 Asia: Hospital Asset Management Market, By Type, 2016–2023 (USD Million)
Table 106 Asia: Pharmaceutical Asset Management Market, By Type, 2016–2023 (USD Million)
Table 107 RoW: Healthcare Asset Management Market, By Product, 2016–2023 (USD Million)
Table 108 RoW: RFID Market, By Component, 2016–2023 (USD Million)
Table 109 RoW: RFID Hardware Market, By Type, 2016–2023 (USD Million)
Table 110 RoW: RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 111 RoW: Passive RFID Tags Market, By Type, 2016–2023 (USD Million)
Table 112 RoW: RTLS Market, By Component, 2016–2023 (USD Million)
Table 113 RoW: RTLS Hardware Market, By Type, 2016–2023 (USD Million)
Table 114 RoW: Healthcare Asset Management Market, By Application, 2016–2023 (USD Million)
Table 115 RoW: Hospital Asset Management Market, By Type, 2016–2023 (USD Million)
Table 116 RoW: Pharmaceutical Asset Management Market, By Type, 2016–2023 (USD Million)
Table 117 Product Launches
Table 118 Agreements and Partnerships
Table 119 Acquisitions
Table 120 Expansions


List of Figures (39 Figures)

Figure 1 Healthcare Asset Management Market
Figure 2 Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 Market Size Estimation: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 RTLS Segment to Register the Highest CAGR During the Forecast Period
Figure 8 RFID Tags Segment to Dominate the RFID Hardware Market in 2018
Figure 9 Hospital Asset Management to Dominate the Healthcare Asset Management Market in 2018
Figure 10 Equipment Tracking and Monitoring to Dominate the Hospital Asset Management Market in 2018
Figure 11 Asia to Witness Highest Growth Rate During the Forecast Period
Figure 12 Need for Better Asset Management in Hospitals is Driving the Growth of Market During the Forecast Period
Figure 13 RFID Segment to Dominate the Market During the Forecast Period (2018-2023)
Figure 14 Services Segment to Witness Highest Growth Rate During the Forecast Period
Figure 15 Equipment Tracking and Management to Dominate Healthcare Asset Management Market in 2018
Figure 16 Asia Pacific to Witness Highest Growth During the Forecast Period
Figure 17 Healthcare Asset Management Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Pharmaceutical Counterfeiting Cases, By Region (2016)
Figure 19 RTLS Product Segment to Register the Highest Growth During the Forecast Period
Figure 20 RFID Tags to Dominate the RFID Hardware Market During the Forecast Period
Figure 21 Passive Tags to Dominate the RFID Tags Market in 2018
Figure 22 RTLS Hardware to Dominate the Components Market During the Forecast Period
Figure 23 Hospital Asset Management is Estimated to Be the Largest Application Segment in 2018
Figure 24 Drug Anti-Counterfeiting Segment to Grow at the Highest CAGR in the Pharmaceutical Asset Management Market
Figure 25 North America to Dominate the Healthcare Asset Management Market During the Forecast Period
Figure 26 North America: Healthcare Asset Management Market Snapshot
Figure 27 Europe: Healthcare Asset Management Market Snapshot
Figure 28 Asia: Healthcare Asset Management Market Snapshot
Figure 29 RoW: Healthcare Asset Management Market Snapshot
Figure 30 Key Developments in the Healthcare Asset Management Market Between 2015–2018
Figure 31 Healthcare Asset Management Market Ranking (2017), By Key Player
Figure 32 Market Evolution Framework
Figure 33 Johnson Controls International: Company Snapshot (2017)
Figure 34 GE Healthcare: Company Snapshot (2017)
Figure 35 Halma PLC: Company Snapshot (2017)
Figure 36 IBM: Company Snapshot (2017)
Figure 37 Novanta Corporation: Company Snapshot (2017)
Figure 38 Stanley Black & Decker: Company Snapshot (2017)
Figure 39 Zebra Technologies: Company Snapshot (2017)

The global healthcare asset management market is projected to reach USD 35.19 billion by 2023 from USD 8.98 billion from 2018, at a CAGR of 31.4%. The growth of the healthcare asset management market is driven by need for better asset management in hospitals, acceptance of asset management solutions in the pharmaceutical industry, and decline in prices of RFID Tags.

The report segments the healthcare asset management market by product, application, and region.

Based on product, the healthcare asset management market is segmented into radiofrequency identification (RFID) devices, real-time location systems (RTLS), and ultrasound & infrared tags. Of all these product segments, the RFID devices segment is expected to account for the largest share of the healthcare asset management market in 2018. RTLS on the other hand is expected to register the highest CAGR during the forecast period owing to the higher precision and accuracy offered by RTLS for tracking and monitoring assets in healthcare facilities.

Based on type, RFID hardware market is further segmented into tags, readers/interrogators, antennas, and accessories. RFID tags are expected to account for the largest share of the RFID hardware market in 2018. The large share can primarily be attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the market.

The global healthcare asset management market, by application is segmented into hospital asset management and pharmaceutical asset management. The hospital asset management segment is estimated to be the largest segment in 2018. The growing need for effective asset management in hospitals, expanding application areas of asset management solutions and the availability of technologically advanced products are some of the major factors driving the growth of this segment. Hospital asset management market is further segmented into equipment tracking and management, patient management, temperature and humidity control, staff management, and infection control and hand hygiene compliance. In 2018, the equipment tracking and management is expected to account for the largest share of the hospital asset management market owing to the need for better asset management in hospitals.

Healthcare Asset Management Market

The market is dominated by North America, followed by Europe. The dominance of the North American market is attributed to factors such as growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region.

While the healthcare asset management market represents significant growth opportunities, market growth may be hindered due to the high cost of RFID readers.

The healthcare asset management market is marked by the presence of several big and small players. AiRISTA Flow (US), Elpas (US), CenTrak, Inc. (US), ThingMagic [A Novanta Company (US], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US), Zebra Technologies (US), GE Healthcare (US), and IBM Corporation (US) are some of the prominent players offering healthcare asset management products.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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