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The real time location systems (RTLS) for healthcare industry is being driven by the growing adoption of the RTLS system in hospitals, owing to the growing need for improved communication and increased efficiency of the internal management of hospitals. RTLS helps to know the exact location of the doctors, patients, and other healthcare staff at a particular time. This helps save a significant amount of time, especially in cases of emergency. Furthermore, the system is also expected to be beneficial in tracking patients with Alzheimer’s and dementia, thus, contributing to the market growth.
In November 2020, Advantech Co., Ltd. announced the launch of Real-Time Location System (RTLS) Solution-Ready Package (SRP) for healthcare applications. The SRP is designed for real-time locating and monitoring of medical equipment, staff, and patients. Meanwhile, in March 2021, AiRISTA Flow introduced sofia®, a cloud-based resource location tracking platform, to enhance the preparedness and reduce instances of errors in the healthcare delivery organisation. It helps to efficiently monitor the movement of patients, staff, and equipment through an intuitive portal. Furthermore, the growing innovations by the leading market players including Zebra Technologies Corporation (NASDAQ: ZBRA) and Baxter International Inc. (NYSE: BAX) are anticipated to propel the market growth in the forecast period.
In terms of region, North America is likely to account for a significant share in the market, owing to the rising adoption of software and analytics in the healthcare sector in order to enhance the quality of healthcare services. Further, the growing incidences of chronic diseases such as cardiovascular diseases among the geriatrics are also expected to add to the market growth. The market in the region is expected to be further aided by the growing demand for improved transportation and logistics management in the healthcare sector to ensure timely delivery of essential medical equipment.
Market Breakup by Offering, Technology, Application, End Use, and Region:
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The major players in the global real time location systems (RTLS) for healthcare market are Olympus Corporation, Baxter International, Stanley Black & Decker, Inc., Fresenius Medical Care AG, and CenTrak, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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