Healthcare Asset Management Market Worth 29,602 Million USD by 2020
CHICAGO, August 11, 2015 /PRNewswire/ --
According to a new market research report "Healthcare Asset Management Market by Product (RFID (Active, Passive), RTLS, Infrared, Ultrasound Tags), Application (Hospitals (Equipment, Staff Management, Patient Monitoring), Pharmaceuticals (Drug Counterfeiting, Supply Chain)) - Global Forecast to 2020", published by MarketsandMarkets, The Healthcare Asset Management Market is expected to reach around 29,602 Million USD by 2020, a CAGR of 34.6% from 2015 to 2020.
Browse 129 Tables and 31 Figures spread through 138 Pages and in-depth TOC on "Healthcare Asset Management Market"
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This report studies the global healthcare asset management market over the forecast period of 2015 to 2020. The healthcare asset management market is expected to reach USD 29,602 Million by 2020 from USD 6,700 Million in 2015, at a CAGR of 34.6% from 2015 to 2020.
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The global healthcare asset management market is segmented on the basis of products, applications, and regions. Based on products, the market is further categorized into RFID components, RTLS, and infrared and ultrasound. The RFID segment includes active and passive tags, readers, and antennas as subcomponents. The RFID and RTLS segments are expected to account for the largest shares of the market by 2020, accounting for CAGRs of 32.9% and 48.8%, respectively.
Based on applications, the healthcare asset management market is segmented into hospitals and pharmaceuticals. The hospitals market is subsegmented into equipment management, staff management, patient management, and temperature and humidity monitoring. On the basis of application, the pharmaceuticals market is segmented into anti-drug counterfeiting and supply chain management. Healthcare asset management solutions offer various benefits to hospitals and help in improving patient care and satisfaction. These solutions help increase equipment availability; enhance equipment utilization; reduce operating and maintenance costs; lower time and cost for compliance reporting; and improve maintenance, support, and allocation. In the pharmaceuticals market, RFID technology is primarily used to tackle drug counterfeiting, address supply chain bottlenecks, and improve clinical trial data documentation. It is of utmost importance for pharmaceutical companies to ensure that the drugs that move across the supply chain are genuine and not adulterated or counterfeited. This is important to ensure the safety of patients. By tagging drugs with RFID tags, they can be monitored throughout the supply chain. This helps in detecting adulteration at any stage of the supply chain. Most manufacturers prefer high-frequency RFID instead of the lesser expensive ultra-high-frequency RFID due to the small size at which they can be manufactured.
The demand for healthcare asset management products in the near future is set to rise due to increasing concerns for patient safety, decreasing cost of hardware and software, technological advancements, increasing use in the pharmaceutical industry, and increasing use in hospitals to enhance staff productivity. However, factors such as technical and operational challenges, initial investment requirements, and privacy and ethical concerns hinder the growth of the market.
The Healthcare Asset Management Market is a fragmented market with many players operating in the industry. However, there are a few companies that have occupied a significant share of the market. The major players in the global healthcare asset management market include Aeroscout, Inc. (U.S.), Awarepoint Corporation (U.S.), Ekahau (U.S.), Elpas (Israel), Infor (U.S.), Motorola Solutions, Inc (U.S.), Radianse (U.S.), and Sonitor Technologies (Norway).
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