New York, NY, June 14, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Hospital Asset Management Market by Product (Real-Time Location Systems, Radio-Frequency Identification, Ultrasound, and Infrared), by Application (Patient Management, Staff Management, Instrument Management, and Supply Chain Management), and by End-User (Hospitals and Clinics, Pharmaceutical Companies, Biotechnology Companies, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, global hospital asset management market was approximately USD 7.99 billion in 2018 and is expected to generate around USD 53.17 billion by 2025, at a CAGR of around 31.2% between 2019 and 2025.
Hospital asset management refers to the managing hospital’s machinery and equipment and tracking assets like mobile beds and wheelchairs, which are used across departments or hospital floors. It also helps in the management and protection of hospital equipment, to manage the machinery and equipment; it uses automated software systems to monitor the hospital campus environment. The global hospital asset management market is expanding rapidly, due to the improvement and optimization of workflow, productivity, safety, reduction in stock, and higher returns on investment.
Browse through 42 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global Hospital Asset Management Market Size, Share, Trends and Forecast, 2018 – 2025”.
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Furthermore, the increasing demand for security in hospitals and effective management with optimized expenses, decreasing prices of RFID, rising number of strict regulatory requirements as a good quality practice, and flourishing pharmaceutical, medical device, and biopharmaceutical industries are also driving this market. Moreover, the growing adoption of asset management solutions by healthcare service providers also contributes to the growth of global healthcare asset management market. However, the high costs of RFID tags and even higher implementation costs may hamper the global hospital asset management market in the future.
The global hospital asset management market is fragmented on the basis of product, application, and end-user. Based on the product, the market is classified into radio-frequency identification devices (RFID), real-time location systems (RTLS), infrared, and ultrasound. The RFID segment is expected to hold the largest share in the global hospital asset management market, due to the increasing use of RFID devices by biopharmaceutical and pharmaceutical sectors to manage the supply chain system effectively.
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Based on application, the market includes patient management, supply chain management, staff management, and instrument management. The instrument management segment is expected to grow significantly over the estimated time period, due to the rising adoption of technologically advanced products and increasing awareness about the installation of asset tracking solutions for the equipment handling and hospital management.
Based on end-user, the market includes hospitals and clinics, pharmaceutical companies, biotechnology companies, and others. Hospitals and clinics are likely to contribute to the largest market share over the forecast time period.
Browse the full “Hospital Asset Management Market by Product (Real-Time Location Systems, Radio-Frequency Identification, Ultrasound, and Infrared), by Application (Patient Management, Staff Management, Instrument Management, and Supply Chain Management), and by End-User (Hospitals and Clinics, Pharmaceutical Companies, Biotechnology Companies, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/hospital-asset-management-market
By geography, North America dominated the global hospital asset management market in 2018, due to the established IT infrastructure, rising concerns about patient safety, increasing acceptance of asset management solutions by healthcare providers to improve staff productivity, decreasing hardware costs, and technological advancements related to RFID and RLTS. Additionally, other factors driving the healthcare asset management market in North America include the falling prices of RFID tags and increasing use of RFID by pharmaceutical companies. The U.S. and Canada are major contributors to the North American healthcare asset management market.
Europe is the second largest region in the global hospital asset management market, due to the rising need for better asset management services in the healthcare sector and increasing hospital asset management system applications. At the country level, Germany, UK, and France are major contributors to the European healthcare asset management market. Germany contributed the largest revenue share to this regional market in 2018, due to the declining costs of asset management hardware solutions, such as tags, and increased use of asset management solutions.
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The Asia Pacific hospital asset management market is being driven by the growing need for better asset management, increasing patient safety concerns, rising use of effective medical devices, improving the efficiency of the available resources, and the presence of advanced technology. Additionally, the increasing R&D activities for developing innovative asset management solutions, new product launches, digitalization in the healthcare sector, and rising government initiatives are also driving the hospital asset management market growth in this region.
Latin America is estimated to witness moderate growth in the future. The Middle Eastern and African hospital asset management market is likely to witness slow growth in the upcoming years, owing to the high cost of advanced RFID and strict regulations.
Some major participants of the global hospital asset management market are Awarepoint Corporation, GE Healthcare, Ascom, Honeywell International, CenTrak, Ekahau, STANLEY Healthcare, Sonitor, Zebra Technology, ZIH Corporation, and IBM.
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This report segments the global hospital asset management market into:
Global Hospital Asset Management Market: By Product
- Radio Frequency Identification Devices (RFID)
- Real-Time Location Systems (RTLS)
- Ultrasound
- Infrared
Global Hospital Asset Management Market: By Application
- Patient Management
- Staff Management
- Instrument Management
- Supply Chain Management
Global Hospital Asset Management Market: By End-User
- Hospitals and Clinics
- Pharmaceutical Companies
- Biotechnology Companies
- Others (Laboratories, Cosmetic Industry, Medical Devices Companies, etc.)
Global Hospital Asset Management Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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