Healthcare Asset Management Market Overview
The healthcare asset management market was estimated to be worth USD 5.64 billion in 2023. From 2024 to 2030, the total revenue from healthcare asset management is projected to increase at a compound annual growth rate (CAGR) of 4.52%, reaching around USD 7.69 billion.
The methodical process of monitoring, controlling, and maximizing medical assets and inventories at healthcare institutions in order to effectively satisfy the rising demand for healthcare services is known as healthcare asset management. The market for healthcare asset management is expanding rapidly due to the growing need for effective asset tracking systems in medical facilities. The necessity for real-time medical equipment location tracking, the use of RFID and RTLS technologies, and the deployment of inventory management systems are some of the factors propelling market expansion.
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Market Dynamics for Healthcare Asset Management:
The medical industry's increasing use of advanced technology is fueling market expansion.
The market for healthcare asset management is expanding due to the growing need for healthcare facilities to use resources efficiently. Real-time location systems (RTLS) have been used by organizations such as Johns Hopkins Hospital to track vital equipment, greatly cutting down on search time and saving a large amount of money each year. The market is expanding as a result of strict regulatory compliance requirements. Asset management solutions help healthcare companies keep accurate records of medical assets in order to comply with regulations like the FDA's Unique Device Identification (UDI) system.
Healthcare Asset Management Market Regional Insights
The market for healthcare asset management was dominated by North America.
In the healthcare industry, North America is a notable center for the uptake and application of hospital asset management systems. Because such treatments are feasible to deploy immediately, the region's strong healthcare infrastructure has been instrumental in creating demand for them. According to Internet World Stats, the region has an exceptional internet penetration rate of 89.4% of the population, making it an early user of IT infrastructure and a significant contributor to this trend. The smooth implementation and integration of asset management systems throughout healthcare institutions is made possible by this high degree of connection.
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Healthcare Asset Management Market Segmentation
by Type
RFID (Radiofrequency Identification Devices)
RTLS (Real-Time Location Systems)
by Application
Staff Management
Equipment Tracking
Patient Tracking
Supply Chain Management
Staffing shortages are addressed and patient care is improved via application-based staff management solutions that enhance operational efficiency and streamline labor allocation. By minimizing downtime and enhancing resource efficiency, asset tracking systems guarantee the availability and upkeep of vital medical equipment. By tracking a patient's movements and interactions, patient tracking devices improve safety and care coordination, which in turn improves patient satisfaction and results. Solutions for supply chain management streamline procurement and inventory control procedures, guaranteeing prompt delivery of essential goods while cutting expenses and waste. Although each application meets specific needs, taken as a whole, they make the healthcare ecosystem safer, more effective, and more affordable, which encourages adoption in a variety of healthcare settings across the globe.
by End Use Industry
Hospital/Clinic
Laboratory
Pharmaceutical
Healthcare Asset Management Market Key Players
1. IBM Corporation
2. AeroScout
3. Ekahau
4. Awarepoint Corporation
5. Siemens Healthcare
6. GE Healthcare
7. AiRISTA Flow
8. Elpas
9. CenTrak
10. ThingMagic
11. Sonitor
12. Stanley Healthcare
13. Versus Technology
14. Symantec
15. CA Technologies
16. Philips
17. DXC Technology
18. CloudPassage
19. FireEye
20. Zebra Technologies
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Key questions answered in the Healthcare Asset Management Market are:
- What is Healthcare Asset Management?
- What will be the CAGR at which the Healthcare Asset Management market will grow?
- What is the growth rate of the Healthcare Asset Management Market?
- What are the industry trends that can be implemented to generate additional revenue streams for the Healthcare Asset Management Market?
- Who are the leading companies and what are their portfolios in Healthcare Asset Management Market?
- What segments are covered in the Healthcare Asset Management Market?
- Which are the factors expected to drive the Healthcare Asset Management market growth?
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