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Hospital Asset Tracking and Inventory Management Systems Global Market Report 2022: Ukraine-Russia War Impact

Hospital Asset Tracking and Inventory Management Systems Global Market Report 2022: Ukraine-Russia War Impact

  • November 2022
  • 175 pages
  • ID: 6368688
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the hospital asset tracking and inventory management systems market are ZIH Corp, Ascom, GE Healthcare (General Electric Company), CenTrak (Halma plc), Honeywell International Inc., Alcatel-Lucent Enterprise, Epicor Software Corporation, Stanley, Black and Decker Inc, Sonitor Technologies Inc., Impinj Inc., Ekahau, and Midmark Corporation.

The global hospital asset tracking and inventory management systems market is expected to grow from $23.23 billion in 2021 to $25.12 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The hospital asset tracking and inventory management systems market is expected to reach $31.97 billion in 2026 at a CAGR of 6.2%.

The hospital asset tracking and inventory management systems market consists of the sale of hospital asset tracking and inventory management systems or related services by entities (organizations, sole traders, and partnerships) that refers to a method used to track and monitor the use of the equipment and medical devices in hospitals through a software. The hospital asset tracking and inventory management systems use sensors and tags that track the assets of the hospitals and provide real-time data and play a crucial role in locating medical equipment at times of an emergency in hospitals.

The main types of hospital asset tracking and inventory management systems are mobile, fixed, and other inventory.The mobile segment consists of hospital asset tracking and inventory management systems that refers to hospital asset tracking and inventory management systems used to track mobile inventory.

Mobile inventory in hospitals include equipment such as wheelchairs, imaging machines, and IV stands.The hospital asset tracking and inventory management systems label the equipment that come into the hospitals and use RFID technology to keep track of same.

The various technologies include hardware and software which are used in applications such as equipment or device or supplies tracking and equipment maintenance.

North America was the largest region in the hospital asset tracking and inventory market in 2021. The regions covered in the hospital asset tracking and inventory management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing load of patients in hospitals has contributed to the growth of the hospital asset tracking and inventory management systems market going forward.The COVID 19 pandemic and lifestyle diseases, as well as other illnesses including cancer, are brought on by the increasing number of people in hospitals who require hospitalization.

An increase in the number of patients has increased the demand for equipment and inventory which in turn is driving the growth of asset tracking and inventory management systems.As per data by the National Institutes of Health (NIH), an agency of the US government, 9,00,000 COVID-19 hospitalizations occurred in November 2020 and were attributed to the conditions of obesity, hypertension, diabetes, and heart failure in the United States.

Also, according to data by National Center for Health Statistics, a US-based government agency, in 2022, 1,918,030 new cancer cases are forecasted in the United States. Therefore, the growing load of patients in hospitals is driving the growth of the hospital asset tracking and inventory management systems market.

Growing implementation of real-time locating systems (RTLS) is a key trend gaining popularity in the hospital asset tracking and inventory management systems market.Major companies operating in the hospital asset tracking and inventory management systems sector are focused on the implementation of real-time locating systems (RTLS) to strengthen their position in the market.

For instance, in January 2021, Midmark RTLS, a US-based RTLS technology solutions company launched a Bluetooth low-energy cloud-based asset tracking solution that modernizes asset tracking capabilities for hospitals.This innovative solution supports hospital staff to find the required equipment quickly and effectively.

The development of this innovative technology by Midmark RTLS is another step forward in the hospital asset tracking and inventory management systems market.

In February 2022, Global Healthcare Exchange (GHX), a US-based healthcare software as a service company, acquired Syft for an undisclosed amount.Through this deal, Syft becomes a wholly-owned subsidiary of GHX, joins GHX’s division of value-based care solutions, and helps modernize the supply chain.

Syft offers a variety of services aimed to reduce the annual expenses of hospitals, including hospital inventory management services and hospital supply chain services. Syft is a US-based inventory management service provider.

The countries covered in the hospital asset tracking and inventory management systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The hospital asset tracking and inventory management systems market research report is one of a series of new reports that provides hospital asset tracking and inventory management systems market statistics, including hospital asset tracking and inventory management systems industry global market size, regional shares, competitors with a hospital asset tracking and inventory management systems market share, detailed hospital asset tracking and inventory management systems market segments, market trends and opportunities, and any further data you may need to thrive in the hospital asset tracking and inventory management systems industry. This hospital asset tracking and inventory management systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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