North America is the Largest RTLS Market for Healthcare

A real-time locating system (RTLS) for healthcare is used to deliver instant or real-time tracking and management of medical equipment, staff, and patients within all categories of patient care settings. Elevated refund on investment and wellbeing and security apprehensions in healthcare facilities are some of the primary factors driving the growth of the global RTLS market for healthcare. The market has witnessed a high demand for UWB in the coming years due to high accuracy and precision, long battery life, and high capacity.

On the basis of facility type, the market is subdivided into senior living facilities and hospitals and healthcare facilities. Among the all facility type, the hospitals and healthcare facilities accounted the largest share in the RTLS market for healthcare due to rapid growth in the Internet of Things (IoT) in healthcare, mounting profitability, optimizing resource utilization and helps healthcare facilities to make quicker decisions and refining their operational processes. In addition, senior living facilities are expected to grow at the fastest rate in the market due to mounting operational competence and refining the experience of residents.

Augmented market attractiveness with the appearance of startups offering inventive and tailored RTLS solutions, elevated refund on investment and wellbeing, and security apprehensions in healthcare facilities are the primary growth drivers for the RTLS market for healthcare.

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The necessity for resource consumption and workflow optimization, usage of IoT technology in healthcare, and the development of hybrid RTLS solutions are also facilitating the growth of the RTLS market for healthcare. For instance, medical care and healthcare is one of the utmost appealing application areas for the IoT and have maximumly probable for advancement with IoT technology. IoT is speedily shifting the healthcare scenario by focusing the way devices; people and applications are connected and intermingle with each other.

Geographically, North America is the largest RTLS market for healthcare due to the presence of a large number of healthcare facilities. The rapid adoption of RTLS solutions in healthcare, investment in innovative technologies, and mounting profitability are also up surging growth of the North American RTLS market for healthcare.

In addition, Asia-Pacific is observed to witness the fastest growth in the market due to progression in the healthcare sector. In addition, the adoption of RTLS solutions in healthcare to improve their performance and automate processes is also creating ample opportunities for the Asia-Pacific RTLS market for healthcare.

Key players in the RTLS market for healthcare are catering to the demand by investing in technologically advanced RTLS across the globe. In March 2016, STANLEY Healthcare signed an agreement with Premier, Inc. to offer access to STANLEY Healthcare’s AeroScout Asset Management solution. STANLEY Healthcare, Teletracking Technologies, Sonitor Technologies, Zebra Technologies, HP Enterprise, Airista, and Identec Group are the key players offering RTLS.

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