The report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the surgical instrument tracking systems market along with the estimates and forecasts of the revenue and share analysis.
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Browse 38 market data Tables and 9 Figures spread through 178 Pages and in-depth TOC on "Surgical Instrument Tracking Systems Market"
Factors such as the UDI regulations by FDA, rising need for inventory management and better patient care, and the need to maximize revenues through operational efficacy are expected to drive market growth in the coming years.
On the basis of technology, the market is segmented into radiofrequency identification (RFID) and barcodes. Of these, the barcodes segment commands the largest share of the the global market mainly due to the low installation costs of barcodes systems as compared to RFID.
On the basis of component, the market is segmented into hardware, software, and services.
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Of these, the software segment commands the largest share of the global market. However, the necessity for repeat purchases of tags will lead to higher growth of the hardware segment during the forecast period.
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On the basis of end user, the global market is segmented into hospitals and others. Of these, the hospitals segment commands the largest share of the market and is also projected to grow at the highest CAGR between 2016 and 2021.
The necessity for inventory management of a large number of surgical instruments as well as the need to reduce healthcare expenses through inventory management are majorly propelling the adoption of tracking systems in hospitals.
On the basis of region, the global surgical instrument tracking systems market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America commands the highest share in the market but the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period due to increasing awareness about these systems in the region.
Factors such as high system costs, long investment cycles, and budgetary constraints are expected to restrain market growth to a certain extent. The major players in this market are Censis Technologies, Inc.
(U.S.), Becton, Dickinson and Company (U.S.), Materials Management Microsystems, Inc (U.S.), Getinge Group (Sweden), Applied Logic, Inc (U.S.), B. Braun Melsungen AG (Germany), Haldor Advanced Technologies.
Ltd. (U.S.), Infor (U.S.), Intelligent InSites, Inc. (U.S.), Key Surgical, Inc. (U.S.), Mobile Aspects, Inc.
(U.S.), TGX Medical Systems (U.S.), Vizbee RFID Solutions (France), and Xerafy (Hong Kong).
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