Medical Health & Life Science Research News

Global surgical instrument tracking market will grow at 17.6%

Medical Market Research

The Global Surgical instrument tracking market is growing at a faster pace owing to the increasing incidence of instrument misplacement and rising prevalence of hospital-acquired infections are propelling this market substantially.

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Global Surgical Instrument Tracking Market Insights:

The Global Surgical instrument tracking market is expected to grow at a CAGR of 17.6 % during 2017-2022. 

According to the CDC (Centers for Disease Control and Prevention), hospital-acquired infections cause around 90,000 deaths per year in the U.S. alone. In a bid to improve the inventory management and to prevent the infections caused by contaminated medical tools and tracking systems are likely to witness increased adoption, which is anticipated to reflect positively on the global surgical instrument tracking systems market.

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The key factors propelling the growth of the global surgical instrument tracking market include high patient well-being concerns, increasing demand for inventory management, Unique Device Identification Regulations by Food and Drug Administration and the necessity to increase revenues through operational effectiveness. Technological advancements in surgical instrument tracking software for inventory and surgical instruments management in the near future is also projected to benefit this market over the years to come.

Moving forwards, researchers expect the arrival of RFID technology and the introduction of technologically advanced hardware and software products will bring in significant growth in the global surgical instrument tracking systems market for over forecasted time period. Though, factors such as budgetary limitations, and lengthy investment cycles, huge system costs can be attributed to the restraining factors of the global surgical instrument tracking market growth.

Geographical Insights

Geographically market is divided into North America, Europe, Asia Pacific and Rest of the World. North America region is leading the market, owing to increasing uptake of advanced technology and products, the presence of a highly developed medical and healthcare infrastructure, rise in per capita income which directly increases healthcare expenditure which fuels this region.

With the introduction of unique device identification (UDI) system by FDA for the efficient identification of medical devices by their distribution channels, the United States has emerged as the key domestic market for surgical instrument tracking systems in North America and is projected to remain on the top over the forecasted year. Asia pacific region is growing at a very fast pace reason being rising geriatric population, rapidly improving healthcare infrastructure in various Asian economies, such as Japan, India and China.

This boosts the Asia pacific in Global Surgical instrument tracking market.

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Competitive Insights:

The Key Players in the Global Surgical instrument tracking market Include Aescula, Applied Logic, B.Braun Ag, Becton Dickinson, Censis Technologies, Fingerprint Medical Ltd., Gallay Inc., Getinge, Haldor, Infor, Key Surgical, Material Management Microsystems, Mobile Aspects, Spatrack Medical Ltd., Stanley Healthcare, Synergy Health, Syrma Technology, Tgx Medical Systems, Vizbee Rfid Solutions Ltd., Xerafy and so on Partnership, R&D, M&A, Product Launch Are The Key Strategy Adopted In The Global Surgical instrument tracking market.

Market Segmentation:

Global Surgical instrument tracking market is segmented on the basis of technology, components, verticals and regional outlook.

  1. Global Surgical instrument tracking market Research and Analysis, By technology
  2. Global Surgical instrument tracking market Research and Analysis, By components
  3. Global Surgical instrument tracking market Research and Analysis, By verticals

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Our Report covers:

  • Comprehensive research methodology of Global Surgical instrument tracking market.
  • This report also includes detailed and extensive market overview with key analyst insights.
  • Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
  • Analysis of regional regulations and other government policies impacting the Global Surgical instrument tracking market.
  • Insights about market determinants which are stimulating the Global Surgical instrument tracking market.
  • Detailed and extensive market segments with regional distribution of forecasted revenues.
  • Extensive profiles and recent developments of market players.

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