[147 Pages Report] The healthcare asset management market is expected to reach USD 35.19 billion by 2023 from USD 6.89 billion in 2017, at a CAGR of 31.4%.

The growth of the RFID Market is driven by need for better asset management in hospitals, acceptance of asset management solutions in the pharmaceutical industry, and decline in prices of RFID Tags.

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RFID Tags segment is expected to dominate the RFID products market in 2018.

Based on type, the Hospital Asset Management Market is segmented into tags, readers/interrogators, antennas, and accessories. In 2018, the RFID tags segment is expected to dominate the market. The growth of Drug Counterfeit Market is attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the IR Market.

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Based on type, the passive RFID tag segment is projected to grow at the highest CAGR during the forecast period.

Based on type, Pharmaceutical Asset Management Market is segmented into passive tags and active tags. In 2018, the passive RFID segment is expected to account for the largest share of the market; also, this segment is expected to register highest CAGR during the forecast period owing to the low cost of passive tags in comparison with active tags. Also, passive tags do not require an external source of energy, owing to which they are more widely adopted.

North America to dominate the healthcare asset market in 2018

In 2018, North America is expected to dominate the Ultrasound Market followed by Europe. The large share of this region is attributed to factors such as growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region.

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Key Market Players:

The key players operating in the global Hospital Asset Management Market are AiRISTA Flow (US), Elpas (US), CenTrak, Inc.(US), ThingMagic [A Novanta Company (US], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US), Zebra Technologies (US), GE Healthcare (US), and IBM Corporation (US).

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Growing pressure to better manage their existing workforce has compelled healthcare organizations across the globe to adopt effective asset management solutions and technologies. Most healthcare organizations spend a large portion of their budget on tracking hospital equipment. For example, it was reported that ~USD 6 million worth of state-owned hospital equipment was found to be missing in Louisiana State University (LSU) hospitals; newly purchased equipment from the hospital were also not properly tracked. Thus, wastage of time in searching for lost assets and poor asset management practices can lead to serious consequences. According to a recent survey conducted by the Nursing Times, more than one-third of nurses spend at least an hour locating equipment during an average hospital shift. This not only impacts budgets but also compromises the quality of patient care provided. 

The healthcare asset management market is attributed to factors such as growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products. 

How much is the Healthcare Asset Management Market worth? 
The global Healthcare Asset Management market is projected to reach USD 35.19 billion by 2023 from USD 8.98 billion from 2018, at a CAGR of 31.4%. Need for better asset management in hospitals, acceptance of asset management solutions in pharmaceutical industry, and decline in prices of RFID Tags are the factors driving the growth of the healthcare asset management market. North America is expected to register the highest growth rate during the forecast period mainly due to growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region. 

RFID Tags segment is expected to dominate the RFID products market in 2018. 
Based on type, the healthcare asset management market is segmented into tags, readers/interrogators, antennas, and accessories. In 2018, the RFID tags segment is expected to dominate the market. The growth of this market is attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the market. 

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Based on type, the passive RFID tag segment is projected to grow at the highest CAGR during the forecast period. 
Based on type, RFID tags market is segmented into passive tags and active tags. In 2018, the passive RFID segment is expected to account for the largest share of the market; also, this segment is expected to register highest CAGR during the forecast period owing to the low cost of passive tags in comparison with active tags. Also, passive tags do not require an external source of energy, owing to which they are more widely adopted. Hospitals segment is estimated hold the largest share of the market in 2017. 

North America is expected to dominate the Healthcare Asset Management market in 2018 

This report covers the market across four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Of the four geographic regions studied in the report, North America is expected to register the highest growth rate during the forecast period mainly due to growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region. 

Geographically, the Healthcare Asset Management market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2018, followed Europe. The dominance of the North American market is attributed to factors such as growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region. 

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Leading Companies 
The major players in the market include AiRISTA Flow (US), Elpas (US), CenTrak, Inc. (US), ThingMagic [A Novanta Company (US], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US), Zebra Technologies (US), GE Healthcare (US), and IBM Corporation (US).

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The growth of the healthcare asset management market is driven by need for better asset management in hospitals, acceptance of asset management solutions in the pharmaceutical industry, and decline in prices of RFID Tags.

What the Market Looks Like?

Predicted to grow at a CAGR of 6.2% during the forecast period, the global Healthcare Asset Management market is estimated to reach USD 2.5 billion by the end of 2022.

“RFID Tags segment is expected to dominate the RFID products market in 2018.”

Based on type, the healthcare asset management market is segmented into tags, readers/interrogators, antennas, and accessories. In 2018, the RFID tags segment is expected to dominate the market. The growth of this market is attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the market.

“Based on type, the passive RFID tag segment is projected to grow at the highest CAGR during the forecast period.”

Based on type, RFID tags market is segmented into passive tags and active tags. In 2018, the passive RFID segment is expected to account for the largest share of the market; also, this segment is expected to register highest CAGR during the forecast period owing to the low cost of passive tags in comparison with active tags. Also, passive tags do not require an external source of energy, owing to which they are more widely adopted.

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Geographical growth scenario of Healthcare Asset Management Market

In 2018, North America is expected to dominate the market followed by Europe. The large share of this region is attributed to factors such as growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region.

Leading market players

The prominent players in the Healthcare Asset Management market include AiRISTA Flow (US), Elpas (US), CenTrak, Inc.(US), ThingMagic [A Novanta Company (US], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US), Zebra Technologies (US), GE Healthcare (US), and IBM Corporation (US).

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According to the new market research “Healthcare Asset Management Market by Product (RFID (Active, Passive), RTLS, Ultrasound, Infrared), Application (Hospital (Equipment, Patient Monitoring, Staff Management, Hand Hygiene), Pharma (Drug Counterfeiting, Supply Chain)) - Global Forecast to 2023", analyzes and studies the major market drivers, restraints/challenges, and opportunities. The healthcare asset management market is expected to reach USD 35.19 billion by 2023 from USD 6.89 billion in 2017, at a CAGR of 31.4%. 

The global Healthcare Asset Management market is segmented based on product, type, application and regions

Based on product, the healthcare asset management market is segmented into radiofrequency identification (RFID) devices, real-time location systems (RTLS), and ultrasound & infrared tags. Of all these product segments, the RFID devices segment is expected to account for the largest share of the healthcare asset management market in 2018. RTLS on the other hand is expected to register the highest CAGR during the forecast period owing to the higher precision and accuracy offered by RTLS for tracking and monitoring assets in healthcare facilities.

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Browse and in-depth TOC on in “Healthcare Asset Management Market " 
120 - Tables
39 - Figures 
147 - Pages 

Based on type, RFID hardware market is further segmented into tags, readers/interrogators, antennas, and accessories. RFID tags are expected to account for the largest share of the RFID hardware market in 2018. The large share can primarily be attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the market.

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In 2018, North America is expected to dominate the market followed by Europe. The large share of this region is attributed to factors such as growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region.

Market Players

The key players in the Healthcare Asset Management market are Sonova (Switzerland), William Demant (Denmark), and GN Store Nord (Denmark) with the presence of several small players as well. Some of the players operating in this market include AiRISTA Flow (US), Elpas (US), CenTrak, Inc.(US), ThingMagic [A Novanta Company (US], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US), Zebra Technologies (US), GE Healthcare (US), and IBM Corporation (US).

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The growth of the healthcare asset management market is driven by need for better asset management in hospitals, acceptance of asset management solutions in the pharmaceutical industry, and decline in prices of RFID Tags.

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The global Healthcare Asset Management market is expected to reach USD 35.19 billion by 2023 from USD 6.89 billion in 2017, at a CAGR of 31.4%

Market Dynamics 

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+ Drivers

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+ Need for Better Asset Management in Hospitals
+ Acceptance of Asset Management Solutions in the Pharmaceutical Industry
+ Decline in Prices of RFID Tags

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The healthcare asset management market is segmented into tags, readers/interrogators, antennas, and accessories. In 2018, the RFID tags segment is expected to dominate the market. The growth of this market is attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the market.

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The RFID tags market is segmented into passive tags and active tags. In 2018, the passive RFID segment is expected to account for the largest share of the market; also, this segment is expected to register highest CAGR during the forecast period owing to the low cost of passive tags in comparison with active tags. Also, passive tags do not require an external source of energy, owing to which they are more widely adopted.

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View complete press release:-
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