The global healthcare asset management market is projected to reach USD 35.19 billion by 2023 from USD 8.98 billion from 2018, at a CAGR of 31.4%
The Research report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the healthcare asset management market, along with revenue estimates & forecasts and market share analysis.
The growth of the healthcare asset management market is driven by need for better asset management in hospitals, acceptance of asset management solutions in the pharmaceutical industry, and decline in prices of RFID Tags.
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What the Market Looks Like?
The report “Healthcare Asset Management Market by Product (RFID (Active, Passive), RTLS, Ultrasound, Infrared), Application (Hospital (Equipment, Patient Monitoring, Staff Management, Hand Hygiene), Pharma (Drug Counterfeiting, Supply Chain)) – Global Forecast to 2023″
RFID Tags segment is expected to dominate the RFID products market in 2018.
Based on type, the healthcare asset management market is segmented into tags, readers/interrogators, antennas, and accessories. In 2018, the RFID tags segment is expected to dominate the market. The growth of this market is attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the market.
Based on type, the passive RFID tag segment is projected to grow at the highest CAGR during the forecast period.
Based on type, RFID tags market is segmented into passive tags and active tags. In 2018, the passive RFID segment is expected to account for the largest share of the market; also, this segment is expected to register highest CAGR during the forecast period owing to the low cost of passive tags in comparison with active tags. Also, passive tags do not require an external source of energy, owing to which they are more widely adopted.
Healthcare Asset Management Market segmentation:
- Based on Products
- Based on Application
- Based on End Users
- Based on Regions
What Drives the Market?
The growth of the global market for Healthcare Asset Management is primarily influenced by the following factors:
- Need for Better Asset Management in Hospitals
- Acceptance of Asset Management Solutions in the Pharmaceutical Industry
- Decline in Prices of RFID Tags
While the healthcare asset management market represents significant growth opportunities, market growth may be hindered due to the high cost of RFID readers.
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Leading Market Players and Geographically Detailed Analysis of Healthcare Asset Management Market:-
The prominent players in the Healthcare Asset Management Market include AiRISTA Flow (US), Elpas (US), CenTrak, Inc. (US), ThingMagic [A Novanta Company (US], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US), Zebra Technologies (US), GE Healthcare (US), and IBM Corporation (US)
The market is dominated by North America, followed by Europe. The dominance of the North American market is attributed to factors such as growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region.
