Surgical Instrument Tracking Systems Market

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

Report Code: MD 4448 Jul, 2016, by marketsandmarkets.com

[178 Pages Report] 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.

Surgical Instrument Tracking Systems Market

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 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.

Surgical Instrument Tracking Systems Market - Target Audience :

  • 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

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

Surgical Instrument Tracking Systems Market - 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)

Growth in this market can primarily be attributed to the UDI (Unique Device Identification) regulations proposed by the FDA, rising concern for patient safety and increasing need for inventory management. However, the high cost for the system coupled with budgetary constraints hinder the growth of this market to a certain extent during the forecast period.

Barcode technology segment to account for the largest share of the market

Based on technology, the market is segmented into barcodes and Radio Frequency Identification (RFID). Barcode segment is expected to dominate the market by holding largest share in 2015. The Radio Frequency Identification (RFID) technology segment is expected to grow at highest growth rate. The high growth in this segment is attributed to the fact that these systems are not labor-intensive and provide real time tracking of surgical instruments.

Hardware to be the fastest growing component segment of the surgical instrument tracking systems market

On the basis of component the surgical instrument tracking systems market is sub-segmented into hardware, software and services. The software segment is expected to dominate the market however, the hardware component is expected to grow at the highest CAGR during the forecast period owing to the the need of replacement of tags or labels which leads to repeat purchase

Hospitals segment is expected to dominate the surgical instrument tracking systems end users market

On the basis of end users, the market is segmented into hospitals and other end users that include ambulatory surgical centers, polyclinics and independent surgical centers. The hospitals segment is further segmented into private and public hospitals. Public hospitals segment is expected to dominate the market during the forecast period owning to the rising funding by the government and need to comply with the regulatory guidelines.

Surgical Instrument Tracking Systems Market

North America to account for the largest share of the surgical instrument tracking systems market in 2015

The global market is dominated by North America, followed by Europe. The market in Asia Pacific is expected to grow at a highest CAGR during the forecast period. Factors such as improving regulations and its adoption, growth in healthcare expenditure, and improving healthcare infrastructure are responsible for growth of market in Asia Pacific region.

Surgical Instrument Tracking Systems Market : Key Market Players

Key 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), Xerafy (Hong Kong).

Censis technologies (US)

Is one of the leading player in the market. The company has its innovative technology, CensiTrac. Additionally, its wide product portfolio helps the company in increasing its revenue. In order to expand its market presence, Censis has partnered with various organizations such as: The Department of Veterans Affairs, Universal Health Services, Sklar Instruments, Adventist Health System and Intelligent InSites.

Surgical Instrument Tracking Systems Market : Recent Developments

  • In December 2015, Censis Technologies made a contract with Universal Health Services (UHS) for providing surgical instrument and asset management software throughout all associated
  • In November 2015, Microsystems entered in an agreement with ReadySet Surgical to provide their capabilities in an integrated environment in order to provide transparent surgical supply chain. This connection between Microsystems’ SPM and Loaner Management Platform of ReadySet would ensure availability of resources and manage the demands of surgery schedule.

Key Questions addressed by the report

  • Where will all these developments take the industry in the mid to long term?
  • What types of annual and multi-year partnership are surgical instrument tracking systems companies exploring?
  • Which are the key players in the market and how intense is the competition?
  • Which are the recent contracts and agreements signed by key players?
  • What are the recent trends affecting surgical instrument tracking  system manufacturers?

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

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 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: 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: 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: Market Scenario, 2015


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Report Code
MD 4448
Published ON
Jul, 2016
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