Surgical Instrument Tracking Systems Market by Technology (RFID and Barcodes), Components (Hardware, Software, Services), End-User (Hospitals), Geography (North America, Europe, Asia-Pacific and RoW) - Forecast to 2021

The global surgical instrument tracking systems market is expected to reach USD 204.8 Million by 2021 from USD 92.2 Million in 2016, at a CAGR of 17.3% during the forecast period 2016 to 2021. Factors such as the impact of the UDI regulation, rising need for inventory management and better patient care, and the need to minimize the operational expenses of healthcare facilities are driving the global market. However, certain factors such as high system costs, long investment cycles, and budgetary constraints are restraining the growth of this market to a certain extent.

Based on technology, the market is segmented into radiofrequency identification (RFID) and barcodes. Of the two technologies, the barcodes segment dominated the market in 2015; however, the RFID segment is expected to grow at the highest CAGR during the forecast period. The large share of the barcodes segment can primarily be attributed to factors such as low installation costs and ease of operation.

Based on components, the market is segmented into hardware, software, and services. The hardware segment is expected to witness the highest growth during the forecast period. Amongst the various end users, hospitals held the highest share in the global surgical instrument tracking systems market in 2015 and are also expected to experience the highest growth during the same period. Repeat purchases of tags are a major factor influencing the growth of the hardware segment.

Based on geography, North America commanded the largest share in the global market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The UDI regulations by FDA are a major factor influencing the adoption of tracking systems in North America.

The major players operating in this market are Censis Technologies, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Materials Management Microsystems, Inc. (U.S.), Getinge Group (Sweden), Applied Logic, Inc. (U.S.), B. Braun Melsungen AG (Germany), Haldor Advanced Technologies. Ltd. (U.S.), Infor (U.S.), Intelligent InSites, Inc. (U.S.), Key Surgical, Inc. (U.S.), Mobile Aspects, Inc. (U.S.), TGX Medical Systems (U.S.), Vizbee RFID Solutions (France), and Xerafy (Hong Kong).

Partnerships, contracts, agreements, new product launches, expansions, product modifications, and acquisitions were the major strategies followed by the leading players in this market in order to enhance their market shares.

Target Audience for this Report:

• Surgical instrument tracking system product manufacturers and vendors
• Hospitals and non-hospitals
• Various research and consulting firms
• Distributors of surgical instrument tracking systems
• Research institutes
• Ambulatory surgical centers

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Scope of the Report:

This research report categorizes the global surgical instrument tracking systems into the following segments:

• Market, by Technology
  • Barcodes
  • Radiofrequency Identification (RFID)
• Market, by Component
  • Hardware
  • Software
  • Services
• Market, by End User
  • Hospitals
    • Public
    • Private
  • Others
• Market, by Region
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

Available Customizations

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

The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

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

Table of Content

1 Introduction
    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 Stakeholders
    1.6 Assumptions & Limitations
    1.7 Definitions

2 Research Methodology
    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 Breakdown of Primaries
                    2.1.2.2 Key Data from Primary Sources
           2.1.3 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary

4 Market Dynamics

5 Market, By Technology
    5.1 Introduction
    5.2 Barcodes Market
    5.3 RFID Market

6 Surgical Instrument Tracking Systems Market, By Component
    6.1 Introduction
    6.2 Hardware Market
    6.3 Software Market
    6.4 Services Market

7 Market, By End-user
    7.1 Introduction
    7.2 Hospitals
    7.3 Others

8 Surgical Instrument Tracking Systems Market, By Geography
    8.1 Introduction
    8.2 North America
    8.3 Europe
    8.4 Asia-Pacific
    8.5 Rest of the World

9 Competitive Landscape
    9.1 Market Share Analysis, By Key Players (%), 2015
    9.2 Key Growth Strategies, 2013 – 2016

10 Company Profiles
(Overview, Financials, Products Portfolio, Growth Strategy, and Developments)*
     10.1 Censis Technologies, Inc.
     10.2 Becton Dickinson
     10.3 Material Management Microsystems
     10.4 Getinge Group 
     10.5 Applied Logic, Inc. 
     10.6 B. Braun
     10.7 Haldor Advanced Technologies Ltd.
     10.8 Infor, Inc.
     10.9 Intelligent Insites, Inc. 
     10.10 Key Surgical, Inc.
     10.11 Mobile Aspects
     10.12 Stanley Healthcare
     10.13 TGX Medical Systems
     10.14 Vizbee RFID Solutions Ltd. 
     10.15 Xerafy

*Details on Financials, Products Portfolio, Growth Strategy, and Developments might not be captured in case of unlisted companies.

11 Appendix

List of Tables (38 Tables)

Table 1 Global Market Size, By Technology, 2016 – 2021 (USD Million)
Table 2 Global Surgical Instrument Tracking Systems Volume Market Size, By Technology, 2016 – 2021 (Number of Units)
Table 3 Barcodes Surgical Instrument Tracking Systems Market Size, By Region, 2016 – 2021 (USD Million)
Table 4 Barcodes Surgical Instrument Tracking Systems Volume Market Size, By Region, 2016 – 2021 (Number of Units)
Table 5 RFID Surgical Instrument Tracking Systems Market Size, By Region, 2016 – 2021 (USD Million)
Table 6 RFID Surgical Instrument Tracking Systems Volume Market Size, By Region, 2016 – 2021 (Number of Units)
Table 7 Global Market Size, By Component, By Technology, 2016 – 2021 (USD Million)
Table 8 Global Surgical Instrument Tracking Systems Hardware Market, By Region, 2016 – 2021 (USD Million)
Table 9 Global Surgical Instrument Tracking Systems Software Market, By Region, 2016 – 2021 (USD Million)
Table 10 Global Surgical Instrument Tracking Systems Services Market, By Region, 2016 – 2021 (USD Million)
Table 11 Global Market Size, By End-User, 2016 – 2021 (USD Million)
Table 12 Hospitals Surgical Instrument Tracking Systems Market Size, By Hospital Type, 2016 – 2021 (USD Million)
Table 13 Hospitals Surgical Instrument Tracking Systems Services Market, By Region, 2016 – 2021 (USD Million)
Table 14 Public Hospitals Surgical Instrument Tracking Systems Services Market, By Region, 2016 – 2021 (USD Million)
Table 15 Private Hospitals Surgical Instrument Tracking Systems Services Market, By Region, 2016 – 2021 (USD Million)
Table 16 Other Healthcare Facilities Surgical Instrument Tracking Systems Services Market, By Region, 2016 – 2021 (USD Million)
Table 17 Global Market Size, By Region, 2016 – 2021 (USD Million)
Table 18 Global Surgical Instrument Tracking Systems Volume Market Size, By Region, 2016 – 2021 (Number of Units)
Table 19 North America: Market Size, By Technology, 2016 – 2021 (USD Million)
Table 20 North America: Surgical Instrument Tracking Systems Volume Market Size, By Technology, 2016 – 2021 (Number of Units)
Table 21 North America: Surgical Instrument Tracking Systems Market Size, By Component, By Components, 2016 – 2021 (USD Million)
Table 22 North America: Market Size, By End-User, 2016 – 2021 (USD Million)
Table 23 North America: Market Size, By Hospital Type, 2016 – 2021 (USD Million)
Table 24 Europe: Market Size, By Technology, 2016 – 2021 (USD Million)
Table 25 Europe: Surgical Instrument Tracking Systems Volume Market Size, By Technology, 2016 – 2021 (Number of Units)
Table 26 Europe: Surgical Instrument Tracking Systems Market Size, By Component, By Technology, 2016 – 2021 (USD Million)
Table 27 Europe: Market Size, By End-user, 2016 – 2021 (USD Million)
Table 28 Europe: Market Size, By Hospital Type, 2016 – 2021 (USD Million)
Table 29 Asia-Pacific: Market Size, By Technology, 2016 – 2021 (USD Million)
Table 30 Asia-Pacific: Surgical Instrument Tracking Systems Volume Market Size, By Technology, 2016 – 2021 (Number of Units)
Table 31 Asia-Pacific: Surgical Instrument Tracking Systems Market Size, By Component, By Technology, 2016 – 2021 (USD Million)
Table 32 Asia-Pacific: Market Size, By End-User, 2016 – 2021 (USD Million)
Table 33 Asia-Pacific: Market Size, By Hospital Type, 2016 – 2021 (USD Million)
Table 34 Rest of the World: Market Size, By Technology, 2016 – 2021 (USD Million)
Table 35 Rest of the World: Surgical Instrument Tracking Systems Volume Market Size, By Technology, 2016 – 2021 (Number of Units)
Table 36 Rest of the World: Market Size, By Component, By Technology, 2016 – 2021 (USD Million)
Table 37 Rest of the World: Market Size, By End-User, 2016 – 2021 (USD Million)
Table 38 Rest of the World: Market Size, By Hospital Type, 2016 – 2021 (USD Million)

List of Figures (9 Figures)

Figure 1 Global Surgical Instrument Tracking Systems Market
Figure 2 Research Design
Figure 3 Breakdown of Supply-Side Primary Interviews: By Company Type, Designation, and Region
Figure 4 Market Size Estimation Diagram
Figure 5 Market Size Estimation Steps
Figure 6 Market Data Triangulation Methodology
Figure 7 Comparative Analysis, Global Market, By Component, 2015 vs 2021
Figure 8 Comparative Analysis, Global Market, By End-User, 2015 vs 2021
Figure 9 Global Snapshot: Surgical Instrument Tracking Systems Market Scenario, 2015

The global surgical instrument tracking systems market is expected to reach USD 204.8 Million by 2021 from USD 92.2 Million in 2016, growing at a CAGR of 17.3% from 2016 to 2021. Factors such as the UDI regulations by FDA, rising need for inventory management and better patient care, and the need to maximize revenues through operational efficacy are expected to drive market growth in the coming years.

On the basis of technology, the market is segmented into radiofrequency identification (RFID) and barcodes. Of these, the barcodes segment commands the largest share of the the global market mainly due to the low installation costs of barcodes systems as compared to RFID.

On the basis of component, the market is segmented into hardware, software, and services. Of these, the software segment commands the largest share of the global market. However, the necessity for repeat purchases of tags will lead to higher growth of the hardware segment during the forecast period.

On the basis of end user, the global market is segmented into hospitals and others. Of these, the hospitals segment commands the largest share of the market and is also projected to grow at the highest CAGR between 2016 and 2021. The necessity for inventory management of a large number of surgical instruments as well as the need to reduce healthcare expenses through inventory management are majorly propelling the adoption of tracking systems in hospitals.

On the basis of region, the global surgical instrument tracking systems market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America commands the highest share in the market but the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period due to increasing awareness about these systems in the region.

Factors such as high system costs, long investment cycles, and budgetary constraints are expected to restrain market growth to a certain extent. The major players in this market are Censis Technologies, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Materials Management Microsystems, Inc (U.S.), Getinge Group (Sweden), Applied Logic, Inc (U.S.), B. Braun Melsungen AG (Germany), Haldor Advanced Technologies. Ltd. (U.S.), Infor (U.S.), Intelligent InSites, Inc. (U.S.), Key Surgical, Inc. (U.S.), Mobile Aspects, Inc. (U.S.), TGX Medical Systems (U.S.), Vizbee RFID Solutions (France), and Xerafy (Hong Kong).

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