Pune, May 08, 2020 (GLOBE NEWSWIRE) -- The global healthcare asset management market size is predicted to reach USD 84,483.03 million by 2027, exhibiting a CAGR of 28.9% during the forecast period. The increasing technological advancement has led to high demand for asset management solutions in medical facilities, which, in turn, will accelerate the healthcare asset management market growth. Moreover, the introduction of wireless connectivity in asset management solutions will contribute positively to this growth during the forecast period, mentioned in a report, titled “Healthcare Asset Management Market Size, Share & Industry Analysis, By Product (Radiofrequency Identification (RFID), Real-time Location Systems (RTLS), Others), By Application (Staff Management, Equipment Tracking, Patient Tracking, Supply Chain Management), By End User (Hospitals, Laboratories, Others) and Regional Forecast, 2020-2027” the market size stood at USD 11,002.50 million in 2019.
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Competitive Landscape:
Partnership between STANLEY Healthcare and Sonitor to Aid Market Sales
STANLEY Healthcare, a global leader in innovative solutions and technology for healthcare facilities announced that it has collaborated with Sonitor for the integration of Sonitor’s proprietary Sense High Definition Ultrasound indoor positioning technology into its AeroScout® Real-Time Location System (RTLS) platform. The partnership expansion between the companies can be a critical factor in accelerating the healthcare asset management market revenue during the forecast period owing to the implementation of cost-effective RTLS solutions with no complications and convenience.
An Overview of the Impact of COVID-19 on this Market:
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Furthermore, Vice President of Product Strategy & Business Development, STANLEY Healthcare, Gabi Daniely, said in a statement, “The key value delivered by RTLS solutions is the detailed information they generate on the interactions of patients, staff and assets as they move about the hospital. This data gives hospitals unique insight into complex care processes, driving improved care delivery, streamlined workflows and cost savings. This insight depends on the ability to locate accurately and reliably at the room and sub-room level. He further added. “With this technology, hospitals can more quickly and easily adopt advanced RTLS applications such as Patient Flow, Staff Workflow and PAR level Asset Management. The result is an even more compelling ROI for RTLS solutions.”
Regional Analysis:
Favorable Reimbursement Policies to Propel Market in North America
North America dominated the market in 2019 and is predicted to remain dominant during the forecast period owing to the rising digitalization in healthcare. The favorable reimbursement policies and government initiatives will encourage growth in North America. The increasing private and public funding for the adoption of healthcare asset management solutions will further enable growth in the region.
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For instance, in June 2019, the Office of the National Coordinator for Health Information Technology (ONC) released the Cooperative Agreement Notice of Funding Opportunity (NOFO). The objective of this program is to enable developments in the technical standards essential to attain interoperability among healthcare IT systems. Asia Pacific is expected to witness high demand during the forecast period owing to the developing healthcare infrastructure. The growing spending for the development of healthcare IT in emerging nations will healthcare asset management market trends
List of Key Companies Operating in the Healthcare Asset Management Market are:
- IBM Corporation
- Stanley Healthcare
- CenTrak, Inc.
- AiRISTA Flow
- Versus Technology, Inc.
- Zebra Technologies,
- GE Healthcare
- Sonitor
- AeroScout Inc.
- Others
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Recent Industry Developments Such as Mergers & Acquisitions
- Regulatory Scenario for Key Countries
- Technological Advancements Pertaining to Healthcare Asset Management Solutions
- Industry Background Pertaining to Healthcare Asset Management Solutions
- Key Industry Trends
- New Product Launch
- Global Healthcare Asset Management Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Radiofrequency Identification (RFID)
- Real-time location systems (RTLS)
- Others
- Market Analysis, Insights and Forecast – By Application
- Staff Management
- Equipment Tracking
- Patient Tracking
- Supply Chain Management
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Laboratories
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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