Health Care Asset Management Market Trends, Business Strategies and Opportunities with Key Players

The health care industry is fundamentally different when compared to the retail and manufacturing industries. Compliance with rules and regulations regarding safety of medical instruments and pharmaceutical drugs is of utmost importance in the industry. Asset management solutions help these end-users to validate their regulatory compliance, reduce inventory, optimize supply chain, improve productivity of staff, and increase the quality of patient care.

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The global health care asset management market is driven by improved return on investment (ROI), higher productivity, and patient satisfaction. Majority of hospitals are currently adopting location tracking asset management solutions for better management of inventory and staff. This rise in adoption rate coupled with significant technological advancements is likely to fuel the growth of the global health care asset management market during the forecast period. However, hidden costs related to maintenance of these systems and issues related to safety of databases are likely to restrain the global health care asset management market from 2018 to 2026.

The global health care asset management market can be segmented based on product, tag/badge type, application, and end-user. In terms of product, the global health care asset management market can be divided into software, hardware, tags, and support & services. Based on tag/badge type, the global health care asset management market can be bifurcated into real-time location systems (RTLS) and radio-frequency identification (RFID) systems. The real-time location systems (RTLS) segment can be classified into Wi-Fi, ZigBee and UWB, ultrasound, and infrared. The radio-frequency identification (RFID) systems segment can be categorized into active RFID and passive RFID. The real-time location systems segment is projected to expand at a higher growth rate owing to technological advancements and rise in focus of end-users on location tracking solutions.

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In terms of application, the global health care asset management market can be divided into patient management, staff management, instrument management, supply chain management, and others. Based on end-user, the global health care asset management market can be bifurcated into hospitals/clinics and pharmaceutical companies. The hospitals/clinics segment is projected to continue to dominate the market during the forecast period.

The global health care asset management market is highly fragmented, with increase in number of new entrants providing solutions in respective countries. The market is characterized by technological advancements driving the adoption rate among end-users. However, increase in competition between established companies as well as new entrants is likely to hamper revenue growth during the forecast period.

In terms of region, the global health care asset management market can be classified into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Developed markets such as the U.S. and Germany are projected to dominate their respective regional markets owing to strong presence of major players, who have established long-term partnerships with key professional end-users. The market in Asia Pacific is projected to expand at a high CAGR in terms of revenue from 2018 to 2026.

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This is attributed to improving health care infrastructure, rise in adoption of cloud-based intelligent business analytics software including asset management, surge in demand for improvement in quality of patient care from rapidly urbanizing population, and increase in number of local manufacturers offering advanced asset management solutions for the health care industry.

Key players in the global health care asset management market are Ascom, Awarepoint Corporation, CenTrak (Halma plc), Ekahau, GE Healthcare, Honeywell International, Inc., Impinj, Inc., Sonitor Technologies, STANLEY Healthcare, ZIH Corp., Siemens Healthineers AG, Tyco International, Vizbee RFID Solutions, IBM, and others.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Transparency Market Research (Tmr) is a U.S.-based provider of syndicated research, customized research, and consulting services.