Surgical Instrument Tracking Systems Market

Surgical Instrument Tracking Systems Market by Technology (Barcode, RFID), Component (Software, Hardware [Scanner], Service), End-User (Hospital [Public, Private]), and Region (North America, Europe, APAC, Latin America, MEA) – Global Forecast to 2024

Report Code: MD 4448 Oct, 2019, by marketsandmarkets.com

[112 Pages Repoert] MarketsandMarkets forecasts the surgical instruments tracking systems market to grow from USD 162.4 million in 2019 to USD 312 million by 2024, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. The major factors that are expected to be driving the surgical instrument tracking systems market are need to meet FDA Unique Device Identification mandates, requirement for better inventory and asset management practices, and growth of the surgical instruments market. However, high system costs, long investment cycles, and lack of realization of ROI are expected to restrain the growth of this market during the forecast period.

The objective of the report is to define, describe, and forecast the surgical instrument tracking system market size based on technology, component, end user, and region.

Surgical Instrument Tracking Systems Market

By technology, the RFID segment is expected to grow at the highest rate during the forecast period.

Based on technology, the surgical instrument tracking systems market is segmented into barcode and RFID. RFID segment is expected to grow at the highest CAGR during the forecast period. Advantages of RFID over barcode labeling include the bility to allow multiple dynamic data updates with rapid read rates and batch reading capability, higher data storage capacity, faster data transmission rate, and capacity to perform multiple read-write of data to the tag. These advantages are driving the adoption of the RFID technology for the management of surgical instruments in hospitals.

By component, the hardware segment is expected to dominate the surgical instrument tracking systems market.

On the basis of components, the global surgical instrument tracking systems market is segmented into software, hardware, and services. The software segment accounted for the largest market share in 2018. However, the hardware segment is expected to witness the highest growth during the forecast period. This is mainly due to the repeat purchase of non-durable RFID tags/barcode labels which need replacement as tags/labels are prone to detachment during washing and/or damage during sterilization cycles.

By end user, the hospitals segment is expected to register the highest CAGR during the forecast period.

Based on end user, the surgical instrument tracking systems market is segmented into hospitals and other end users. The hospitals segment is expected to register the highest CAGR during the forecast period. The growth of the hospitals segment is attributed to their high patient inflow as compared to other end users in the market. Hospitals also use more equipment and instruments on average than other healthcare providers and carry out a greater number of surgical procedures. This has ensured a sustained demand for tracking solutions in hospitals.

The Asia Pacific surgical instrument tracking systems market is expected to grow at the highest CAGR during the forecast period

Asia Pacific is expected to witness the highest growth from 2019 to 2024, owing to government initiatives to implement asset tracking solutions and growing access to healthcare facilities in the region.

Surgical Instrument Tracking Systems Market

Market Dynamics

Driver: Growth in the pharmaceutical and biotechnology industries Need to meet FDA Unique Device Identification mandates

The UDI (Unique Device Identification) regulation proposed by the US FDA (Food and Drug Administration) is expected to drive the surgical instrument tracking systems market. As per the UDI rules, labelers (manufacturers, reprocessors, specification developers, repackagers, and relabelers) of surgical instruments are expected to implement direct marking at the individual instrument level. Surgical instruments that are categorized as Class I devices originally had till September 24, 2020 to fully comply with FDA requirements, but the data was then shifted to September 24, 2022.

Additionally, labelers need to submit information about each device to FDA’S GUDID (Global Unique Device Identification Database). This database will serve as a reference catalog for all devices. These mandates are expected to be the key factor driving the adoption of surgical instrument tracking systems among end users, and will directly stimulate market growth in the coming years.

Restraint: High system cost, long investment cycles, and lack of realization of ROI

Surgical instrument tracking systems require heavy upfront investments that encompass the costs of application software, hardware, tags, and middleware as well as the cost of integrating the barcode/RFID framework along with the legacy system, maintenance services, consultancy fees, and staff training. Although the cost of tags and readers has reduced considerably, the implementation cost of automated tracking systems, such as RFID, that require additional servers, databases, and middleware, has been increasing steadily. The overall cost of implementation of automated surgical instrument tracking systems using RFID is very high as compared to traditional systems such as barcode-based systems. Apart from high implementation costs, most automated surgical instrument tracking systems have very long investment lifecycles.

Another challenge faced by hospitals is the lack of understanding of the cost-benefit analysis or the assessment of return on investment (ROI) on tracking systems. This challenge arises due to a lack of awareness of the importance of these systems and the high cost of acquisition.

Opportunity: Emerging economies

Emerging economies such as India, China, and countries across the Middle East, Latin America, and Southeast Asia are expected to offer significant growth opportunities for players in the surgical instrument tracking systems market. The growing healthcare expenditure and improving healthcare infrastructure in these economies are expected to present growth opportunities for market players.

Various governments in the Middle Eastern countries are taking initiatives to improve their healthcare facilities. For instance, in 2018, USD 39.2 billion (SR 147 billion) was allocated for the development of health services, of which USD 8.8 billion (SR 33 billion) was to be utilized as a part of the Saudi Vision 2030. The health and social development sector’s budget is also responsible for completing the construction of hospitals and primary healthcare centers in all regions of Saudi Arabia. As many as 36 new hospitals with a capacity of 8,950 beds are currently being established and developed in all regions of the Kingdom. Additionally, two medical cities with a total capacity of 2,350 beds are being constructed (Source: Trade Arabia - Business News Information).

In China, the National Health Service System Plan (2015–2020) was approved by the State Council of China in 2015. The plan focuses on expanding the hospital sector across the country to ensure a ratio of six hospital beds for every 1,000 people in China by 2020. Other emerging economies in the APAC region also offer lucrative investment opportunities for surgical instrument tracking system providers to offshore their business operations and production activities. As a result, in the last few years, several players operating in the healthcare asset management market have expanded their businesses in these economies. Schneider Electric, for example, entered into a strategic alliance with Stanley Healthcare in March 2016 to provide “intelligent infrastructure” for hospitals in India.

Challenge: Dearth of skilled professionals Technological limitation

Both RFID and barcode technologies for instrument tracking are marked by significant limitations. In the case of RFID technology, it is believed that ~20% of tags do not function properly. Most RFID tags cannot withstand high temperatures, humidity, and chemical reactions, and can be interfered with by metals and liquids. Moreover, there are chances of interference from other radio transmissions or electric or magnetic fields present in the usage environment.

Additionally, a single reader cannot read tags from multiple frequencies, which limits its usage. In the case of barcode technology, barcode scanning is error-sensitive and labor-intensive, as it involves manual procedures. Repetitive autoclaving could also damage barcode labels, thus making it necessary for checks to be conducted after every sterilization cycle.

Surgical Instrument Tracking Systems Market

Scope of the Report

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2017

Forecast period

2019–2024

Forecast units

Million (USD)

Segments covered

By Technology, Component, End User, and Region

Geographies covered

North America, Europe, APAC, and RoW

Companies covered

Censis Technologies (US), Material Management Microsystems (US), Becton, Dickinson and Company (US), Haldor Advanced Technologies (Israel), Intelligent InSites, Inc. (US), Key Surgical, Inc. (US), Mobile Aspects (US), TGX Medical Systems (US), Xerafy (China), STANLEY Healthcare (US), B. Braun Melsungen AG (Germany), Getinge AB (Sweden), Infor Inc. (US), SpaTrack Medical Limited (UK), and Scanlan International, Inc. (US).

The research report categorizes the surgical instrument tracking system market to forecast the revenues and analyze the trends in each of the following sub-segments:

Surgical Instrument Tracking System Market, by Technology

  • Barcode
  • Radiofrequency Identification (RFID)

Surgical Instrument Tracking System Market, by Component

  • Software
  • Hardware
  • Services

Surgical Instrument Tracking System Market, by End User

  • Hospitals
  • Public Hospitals
  • Private Hospitals
  • Other End Users

Surgical Instrument Tracking System Market, by Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia Pacific
    • China
    • Japan
    • Rest of Asia Pacific (RoAPAC)
  • Rest of the World

Key Market Players

In 2018, Censis Technologies (US), Material Management Microsystems (US), and Becton, Dickinson and Company (BD) (US) held a major share of the surgical instrument tracking systems market.  

Censis Technologies held the leading position in the surgical instrument tracking systems market. The leading position of the company can be attributed to its strong brand recognition and extensive service portfolio in the surgical instrument tracking systems market. Censis Technologies provides separate tracking solutions for trays, individual instruments, and scopes along with a wide range of related products under the umbrella of CensiTrac. The company offers integrated solutions through partnerships. Censis Technology serves hospitals, acute care facilities, and many government facilities in the US.

Recent Developments

  • In May 2017, Censis Technologies Inc. (US) signed an agreement with HealthTrust (HealthTrust Purchasing Group, L.P.) (US) to provide CensiTrac subscription and customized professional services and support to HealthTrust.
  • In 2016, Censis Technologies Inc. (US) signed an agreement with Sklar Instruments (US). With this contract, Sklar can now offer customers CensiTrac ready instruments to government and commercial hospitals by applying the CensiMark to its instruments – This process embeds a guaranteed corrosion-free, 2-D mark to instruments below the passivation layer instead of etching or engraving, which alters the surface.
  • In 2016, Haldor Advanced Technologies partnered with Hill-Rom (US). The partnership covers the exclusive distribution of Haldor's ORLocate suite of products and technology.
  • In 2016, Intelligent InSites (US) signed an agreement with Emanate Wireless (US) Intelligent InSites integrated with Emanate Wireless’ AC-powered Real-Time Location System Technology (RTLS). This agreement would aid in the expansion of Intelligent InSite’s supported RTLS hardware technology. Healthcare organizations would also be able to locate their assets and utilize equipment with higher efficiency with the help of this integration.
  • In 2016, Xerafy (Singapore) partnered with VUEMED (China). This partnership aimed at transforming the healthcare supply chain of VUEMED with Xerafy’s RFID-based hardware & software solutions for tracking and managing healthcare devices & supplies from the loading dock to the procedure room.

Critical questions the report answers:

  • Where will all these developments take the industry in the long term?
  • What are the upcoming trends in the surgical instrument tracking systems market?
  • Which segment provides the most opportunity for growth?
  • Who are the leading players operating in this market?
  • What are the opportunities for new market entrants?

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

Table of Contents

1 Introduction (Page No. - 15)
    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 Market Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Approach
           2.1.1 Secondary Research
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Research
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Data Triangulation Approach
    2.4 Market Share Analysis
    2.5 Assumptions for the Study

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 28)
    4.1 Surgical Instrument Tracking Systems: Market Overview
    4.2 North America: Surgical Instrument Tracking Systems Market, By Component (2018)
    4.3 Geographical Snapshot of the Surgical Instrument Tracking Systems Market

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Market Drivers
                    5.2.1.1 Need to Meet Fda Unique Device Identification Mandates
                    5.2.1.2 Requirement for Better Inventory and Asset Management Practices
                    5.2.1.3 Growth of the Surgical Instruments Market
           5.2.2 Restraints
                    5.2.2.1 High System Cost, Long Investment Cycles, and Lack of Realization of RoI
           5.2.3 Opportunities
                    5.2.3.1 Emerging Economies
                    5.2.3.2 Development of Active RFID Technology for Instruments
           5.2.4 Challenges
                    5.2.4.1 Technological Limitations

6 Surgical Instrument Tracking Systems Market, By Technology (Page No. - 35)
    6.1 Introduction
    6.2 Barcode
           6.2.1 Low Cost of Installation to Drive the Growth of This Market
    6.3 Radiofrequency Identification (RFID)
           6.3.1 Higher Data Storage Capacity & Faster Data Transmission Rate are Supporting the Growth of the RFID Market

7 Surgical Instrument Tracking Systems Market, By Component (Page No. - 40)
    7.1 Introduction
    7.2 Software
           7.2.1 Frequent Need for Upgrades and the Introduction of New Software Applications to Drive Market Growth
    7.3 Hardware
           7.3.1 Readers
                    7.3.1.1 Technological Advancements are Expected to Support the Growth of This Market
           7.3.2 Tags
                    7.3.2.1 Benefits Associated With Tags Such as Durability & Long Read Range Make Them Ideal for Surgical Instrument Tracking Implementation
           7.3.3 Other Hardware
    7.4 Services
           7.4.1 Recurring Requirement of Services & Growing Adoption of Cloud-Based Models to Drive Market Growth

8 Surgical Instrument Tracking System Market, By End User (Page No. - 50)
    8.1 Introduction
    8.2 Hospitals
           8.2.1 Public Hospitals
                    8.2.1.1 Need to Cut Healthcare Expenditure and Manage Existing Equipment is Driving Demand for Tracking Solutions in Public Hospitals
           8.2.2 Private Hospitals
                    8.2.2.1 Private Hospitals are Focused on Acquisitions and Consolidation for Growth
    8.3 Other End Users

9 Surgical Instrument Tracking Systems Market, By Region (Page No. - 58)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 Establishment of Unique Device Identification Rule By Fda is Expected to Drive the Market in the US
           9.2.2 Canada
                    9.2.2.1 Need to Cut Healthcare Costs Will Drive the Market in Canada
    9.3 Europe
           9.3.1 Germany
                    9.3.1.1 Strong Healthcare Infrastructure and Rapid Adoption of Technological Innovation Support Germany’s Market Dominance
           9.3.2 UK
                    9.3.2.1 Need to Cut Costs and Time Incurred on Manual Tracking Methods Will Drive Market Growth in the UK
           9.3.3 France
                    9.3.3.1 Population Growth and Growing Demand for Surgical Treatment Will Drive Market Growth in France
           9.3.3 Italy
           9.3.3 Spain
           9.3.4 Rest of Europe
    9.4 Asia Pacific
           9.4.1 APAC Market is Characterized By Rising Healthcare Access and Infrastructural Development
           9.3.3 Japan
           9.3.3 China
           9.3.3 Rest of Asia Pacific
    9.5 Latin America
           9.5.1 Growing Medical Tourism and Growth of the Latam Healthcare Sector is Driving the Market
    9.6 Middle East & Africa
           9.6.1 Infrastructural Development Activity is A Key Driver of Market Growth in the Mea

10 Competitive Landscape (Page No. - 82)
     10.1 Overview
     10.2 Market Ranking Analysis, 2018
     10.3 Competitive Scenario
     10.4 Competitive Scenario
     10.5 Competitive Leadership Mapping (Overall Market) (2018)
             10.5.1 Visionary Leaders
             10.5.2 Innovators
             10.5.3 Dynamic Differentiators
             10.5.4 Emerging Companies

11 Company Profiles (Page No. - 86)
(Business Overview, Products Offered, Recent Developments, MnM View)*
     11.1 Censis Technologies, Inc.
             11.1.1 Business Overview
             11.1.2 Services Offered
             11.1.3 Recent Developments
     11.2 Material Management Microsystems (Microsystems, Inc)
             11.2.1 Business Overview
             11.2.2 Service Offerd
             11.2.3 Recent Developments
     11.3 Becton, Dickinson and Company
             11.3.1 Business Overview
             11.3.2 Service Offerd
             11.3.3 Recent Developments
     11.4 Haldor Advanced Technologies LTD.
             11.4.1 Business Overview
             11.4.2 Service Offerd
             11.4.3 Recent Developments
     11.5 Intelligent Insites, Inc
             11.5.1 Business Overview
             11.5.2 Service Offerd
             11.5.3 Recent Developments
     11.6 Key Surgical, Inc.
     11.7 Mobile Aspects
     11.8 TGX Medical Systems
     11.9 Xerafy
     11.10 Stanley Healthcare (Division of Stanley Black & Decker)
     11.11 B. Braun Melsungen
     11.12 Getinge Group
     11.13 Infor
     11.14 Spatrack Medical Limited
     11.15 Scanlan International, Inc.

*Details on Business Overview, Products Offered, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 106)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details


List of Tables (130 Tables)

Table 1 Projected Growth of Surgical Instruments Markets
Table 2 Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Million)
Table 3 Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (Units)
Table 4 Surgical Instrument Tracking Systems Market for Barcode, By Region, 2017–2024 (USD Million)
Table 5 North America: Surgical Instrument Tracking Systems Market for Barcode, By Country, 2017–2024 (USD Million)
Table 6 Europe: Surgical Instrument Tracking Systems Market for Barcode, By Country, 2017–2024 (USD Million)
Table 7 Surgical Instrument Tracking Systems Market for RFID, By Region, 2017–2024 (USD Thousand)
Table 8 North America: Surgical Instrument Tracking Systems Market for RFID, By Country, 2017–2024 (USD Thousand)
Table 9 Europe: Surgical Instrument Tracking Systems Market for RFID, By Country, 2017–2024 (USD Thousand)
Table 10 Surgical Instruments Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 11 Software Offered By Key Players
Table 12 Surgical Instrument Tracking Software Market, By Region, 2017–2024 (USD Million)
Table 13 North America: Surgical Instrument Tracking Software Market, By Country, 2017–2024 (USD Million)
Table 14 Europe: Surgical Instrument Tracking Software, By Country, 2017–2024 (USD Million)
Table 15 Surgical Instrument Tracking Hardware Market, By Type, 2017–2024 (USD Million)
Table 16 Surgical Instrument Tracking Hardware Market, By Region, 2017–2024 (USD Million)
Table 17 North America: Surgical Instrument Tracking Hardware Market, By Country, 2017–2024 (USD Million)
Table 18 Europe: Surgical Instrument Tracking Hardware Market, By Country, 2017–2024 (USD Million)
Table 19 Surgical Instrument Tracking Hardware Market for Readers , By Region, 2017–2024 (USD Million)
Table 20 North America: Surgical Instrument Tracking Hardware Market for Readers, By Country, 2017–2024 (USD Million)
Table 21 Europe: Surgical Instrument Tracking Hardware Market for Readers, By Country, 2017–2024 (USD Thousand)
Table 22 Surgical Instrument Tracking Hardware Market for Tags , By Region, 2017–2024 (USD Thousand)
Table 23 North America: Surgical Instrument Tracking Hardware Market for Tags, By Country, 2017–2024 (USD Thousand)
Table 24 Europe: Surgical Instrument Tracking Hardware Market for Tags, By Country, 2017–2024 (USD Thousand)
Table 25 Surgical Instrument Tracking Market for Other Hardware, By Region, 2017–2024 (USD Thousand)
Table 26 North America: Surgical Instrument Tracking Market for Other Hardware, By Country, 2017–2024 (USD Thousand)
Table 27 Europe: Surgical Instrument Tracking Market for Other Hardware, By Country, 2017–2024 (USD Thousand)
Table 28 Surgical Instrument Tracking Services Market, By Region, 2017–2024 (USD Million)
Table 29 North America: Surgical Instrument Tracking Services Market, By Country, 2017–2024 (USD Million)
Table 30 Europe: Surgical Instrument Tracking Services Market, By Country, 2017–2024 (USD Thousand)
Table 31 Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Million)
Table 32 Surgical Instrument Tracking Systems Market for Hospitals, By Region, 2017–2024 (USD Million)
Table 33 North America: Surgical Instrument Tracking Systems Market for Hospitals, By Country, 2017–2024 (USD Million)
Table 34 Europe: Surgical Instrument Tracking Systems Market for Hospitals, By Country, 2017–2024 (USD Million)
Table 35 Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 36 Surgical Instrument Tracking Systems Market for Public Hospitals, By Region, 2017–2024 (USD Million)
Table 37 North America: Surgical Instrument Tracking Systems Market for Public Hospitals, By Country, 2017–2024 (USD Million)
Table 38 Europe: Surgical Instrument Tracking Systems Market for Public Hospitals, By Country, 2017–2024 (USD Million)
Table 39 Surgical Instrument Tracking Systems Market for Private Hospitals, By Region, 2017–2024 (USD Million)
Table 40 North America: Surgical Instrument Tracking Systems Market for Private Hospitals, By Country, 2017–2024 (USD Million)
Table 41 Europe: Surgical Instrument Tracking Systems Market for Public Hospitals, By Country, 2017–2024 (USD Million)
Table 42 Surgical Instrument Tracking Systems Market for Other End Users, By Region, 2017–2024 (USD Thousand)
Table 43 North America: Surgical Instrument Tracking Systems Market for Other End Users, By Country, 2017–2024 (USD Thousand)
Table 44 Europe: Surgical Instrument Tracking Systems Market for Other End Users, By Country, 2017–2024 (USD Million)
Table 45 Surgical Instrument Tracking Systems Market, By Region, 2017–2024 (USD Million)
Table 46 North America: Surgical Instrument Tracking Systems Market, By Country, 2017–2024 (USD Million)
Table 47 North America: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Million)
Table 48 North America: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 49 North America: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Million)
Table 50 North America: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Million)
Table 51 North America: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 52 US: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Million)
Table 53 US: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 54 US: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Million)
Table 55 US: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Million)
Table 56 US: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 57 Canada: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 58 Canada: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 59 Canada: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 60 Canada: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Million)
Table 61 Canada: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 62 Europe: Surgical Instrument Tracking Systems Market, By Country, 2017–2024 (USD Million)
Table 63 Europe: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Million)
Table 64 Europe: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 65 Europe: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Million)
Table 66 Europe: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Million)
Table 67 Europe: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 68 Germany: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 69 Germany: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 70 Germany: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 71 Germany: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 72 Germany: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 73 UK: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 74 UK: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 75 UK: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 76 UK: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 77 UK: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 78 France: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 79 France: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 80 France: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 81 France: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 82 France: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 83 Italy: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 84 Italy: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 85 Italy: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 86 Italy: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 87 Italy: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 88 Spain: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 89 Spain: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 90 Spain: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 91 Spain: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 92 Spain: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 93 RoE: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 94 RoE: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Thousand)
Table 95 RoE: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 96 RoE: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 97 RoE: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 98 APAC: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 99 APAC: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 100 APAC: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 101 APAC: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 102 APAC: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 103 Japan: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 104 Japan: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 105 Japan: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 106 Japan: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 107 Japan: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 108 China: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 109 China: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 110 China: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 111 China: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 112 China: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 113 RoAPAC: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 114 RoAPAC: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 115 RoAPAC: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 116 RoAPAC: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 117 RoAPAC: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Million)
Table 118 Latin America: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 119 Latin America: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Million)
Table 120 Latin America: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 121 Latin America: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 122 Latin America: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Thousand)
Table 123 MEA: Surgical Instrument Tracking Systems Market, By Technology, 2017–2024 (USD Thousand)
Table 124 MEA: Surgical Instrument Tracking Systems Market, By Component, 2017–2024 (USD Thousand)
Table 125 MEA: Surgical Instrument Tracking Systems Market for Hardware, By Type, 2017–2024 (USD Thousand)
Table 126 MEA: Surgical Instrument Tracking Systems Market, By End User, 2017–2024 (USD Thousand)
Table 127 MEA: Surgical Instrument Tracking Systems Market for Hospitals, By Type, 2017–2024 (USD Thousand)
Table 128 Contracts, Agreements, and Partnerships (2016–2019)
Table 129 Acquisitions (2016–2019)
Table 130 Product/Service Launch (2016-2019)


List of Figures (23 Figures)

Figure 1 Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Market Size Estimation Steps
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Surgical Instrument Tracking Systems Market, By Technology, 2019 vs 2024 (USD Million)
Figure 8 Surgical Instrument Tracking Systems Market, By Component, 2019 vs 2024 (USD Million)
Figure 9 Surgical Instrument Tracking Systems Market, By End User, 2019 vs 2024 (USD Million)
Figure 10 Geographical Snapshot of the Surgical Instrument Tracking Systems Market
Figure 11 Need for Better Inventory and Asset Management Practices to Drive the Growth of the Surgical Instrument Tracking Systems Market
Figure 12 Software Segment Accounted for the Largest Share of the North American Surgical Instrument Tracking Systems Market in 2018
Figure 13 Asia Pacific Market to Register the Highest Growth Rate During the Forecast Period
Figure 14 Surgical Instrument Tracking Systems Market: Drivers, Restraints, Opportunities, and Challenges
Figure 15 North America: Surgical Instrument Tracking Systems Market Snapshot
Figure 16 APAC: Surgical Instrument Tracking Systems Market Snapshot
Figure 17 Market Ranking of Key Players, 2018
Figure 18 Surgical Instrument Tracking Systems Market (Global) Competitive Leadership Mapping, 2018
Figure 19 Becton, Dickinson and Company: Company Snapshot
Figure 20 Stanley Healthcare: Company Snapshot
Figure 21 Company Snapshot: Braun Melsungen AG (2018)
Figure 22 Company Snapshot: Getinge Group (2018)
Figure 23 Company Snapshot: Infor (2018)

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.

Secondary Research

The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the surgical instrument tracking systems market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

Primary Research

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the market. The primary sources from the demand side included industry experts, such as researchers & scientists and industry experts from medical device companies. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.

A breakdown of the primary respondents is provided below:

Surgical Instrument Tracking Systems Market

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

Market Size Estimation

The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by technology, component, end user, and region).

Data Triangulation

After arriving at the market size, the surgical instrument tracking systems market was divided into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments & subsegments.

Objectives of the Study

  • To define, describe, segment, and forecast the global market by technology, component, end user, and region
  • To provide detailed information about the factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To forecast the size of the surgical instrument tracking systems market in five main regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
  • To profile key players in the global market and comprehensively analyze their core competencies and market shares
  • To track and analyze competitive developments such as product/service launches, partnerships, and collaborations in the market
Report Code
MD 4448
Published ON
Oct, 2019
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