Healthcare Asset Management Market Insights
The Global Healthcare Asset Management market is estimated to grow at a CAGR of approximately 35% during the forecast period. Healthcare Asset Management allows hospital property managers to monitor, manage, control and account for all transactions. Concerns with respect to drug counterfeiting, patient safety, and technological advancements are some factors expected to drive the market for healthcare asset management.
Healthcare asset management provides benefits such as improved staff productivity, increasing the use of asset management in the pharmaceutical industry. Accordingly, decreasing the cost of hardware and software solutions is also expected to drive market growth to a certain extent. Technical and operational issues along with privacy concerns are expected to restrain market growth in healthcare asset management. Heavy capital investment is also expected to negatively affect the healthcare asset management market.
Healthcare Asset Management Market: Technology Insights
The Healthcare Asset Management Market based on technology can be segmented into Real-time Location System (RTLS) and Radio Frequency Identification (RFID) System. The RFID segment comprises active tags, passive tags, antennas, and readers. The RFID segment is expected to hold the largest market share in the healthcare asset management market. The large market share can be attributed to need to improve patient safety, reduce operational costs and productivity of the supply chain.
Healthcare Asset Management Market: Application Insights
The Healthcare Asset Management market can be segmented into Staff Management, Equipment Tracking, Patient Tracking, and Supply Chain Management based on application. The equipment tracking market is expected to hold close to half of the market share of the total healthcare asset management market. The market growth in this segment is driven by a need for reduction of staffing costs and time. Manual location of misplaced and stolen equipment takes up the significant amount of time, further slowing down operational efficiency. The staff management and supply chain management segments are also expected to demonstrate steady growth during the forecast period.
Healthcare Asset Management Market: End-User Insights
Based on End-User, the Healthcare Asset Management market can be classified into Hospital/Clinic, Laboratory, Pharmaceutical, and Bio-Technology. The Hospital/ Clinic segment is expected to hold the higher market share in the healthcare asset management market due to multiple benefits provided by asset management systems in equipment tracking, patient tracking, and supply chain management. The pharmaceutical and laboratory segments are also likely to grow at a substantial rate during the coming years.
Healthcare Asset Management Market: Regional Insights
The North American region is expected to dominate the healthcare asset management market during the forecast period. Accessibility to healthcare infrastructure and technological advancements are some factors contributing to market growth in this region. Second to North America, the European region is also expected to show substantial growth in the healthcare asset management segment. The Asia-pacific market is likely to demonstrate the highest CAGR during the forecast period owing to corporate investments in the standardization of healthcare industries and various Government initiatives to improve overall healthcare infrastructure in the region.
Healthcare Asset Management Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase Healthcare Asset Management over the coming years. Some leading consumers of this market are Apollo Hospital, Gilead Sciences and LifePoint Health among others.
Healthcare Asset Management Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Healthcare Asset Management Market Share & Competitor Analysis
Major companies operating in the Healthcare Asset Management market are Awarepoint Corporation, Airista Flow, Aeroscout Inc., IBM Corporation, Infor Inc., Motorola Solutions, GE Healthcare, Siemens Healthineers, Radianse and Sonitor Technologies, among others.
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