Global Surgical Instrument Tracking Systems Market to Reach Around USD 1,150.42 Million by 2032, Driven by the Heightened Importance of Inventory Management in Medical Institutions

Instrument tracking systems are evolving with new technologies designed to assist Sterile Processing Department (SPD) professionals in overseeing various elements of their instrument processing workflow. The rising cases of unavailability of instruments, and increased incidences of retained surgical instruments in the human body after surgical procedures are contributing to the greater adoption of surgical instrument tracking systems. According to the National Centre for Biotechnology Information (NCBI), the fatality rate of retained surgical objects is about 2.0%. The absence of surgical instruments in their right places leads to delays and stress in the operating rooms, creating additional risks for patients. This adds to the demand for surgical instrument tracking systems market.

Generally, surgical sets are compiled based on predetermined instrument checklists, occasionally comprising more than 200 instruments. Technicians are required to assemble these sets, ensuring no items are absent or mismatched. The employment of tracing systems provides visual guides to help technicians identify instruments automatically recognising and matching instruments through RFID barcode scanning. The rising caseloads, increasing complexity of use, and requirement of consistent training of staff necessitate the use of tracking systems. The systems help technicians document steriliser loads and print barcodes.

Hospitals such as Community Health Systems, Inc (NYSE: CYH) are the key end users of the surgical tracking systems, allowing for the smooth functioning of surgical procedures. In April 2023, NDI (Northern Digital Inc.) launched its new compact optical tracker for instrument tracking inside confined clinical and surgical suites. Polaris Lyra, the optical tracker has a high measurement rate of up to 125 Hz and accuracy of up to 0.20 mm RMS.

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Market Analysis by Product Types, Technology, End User, Distribution Channel and Region:

• The market on the basis of type can be divided into hardware, software, and services.

• Based on technology, the market can be divided into barcode tracking, radio frequency identification (RFID), and electronic tracking, among others.

• The end users for surgical instrument tracking systems include hospitals, ambulatory surgical centres, research centres, and clinics, among others.

• The distribution channels include direct tenders and third party distributors, among others.

• The regional markets for surgical instrument tracking systems include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market is being driven by the increasing incidents of instrument retainment in the human body.

• The growing importance of inventory management in hospitals and other end use sectors such as clinics is contributing to the market growth.

• The market is aided by the increasing technological advancements in the field of hospital and medicine and the increasing focus on offering improved healthcare facilities to patients.

• The increasing product launches and innovations by market players are supporting the market, with new products featuring advanced technologies and improved capabilities.

Key Offerings of the Report:

• The EMR report gives an overview of the global surgical instrument tracking systems market for the periods (2017-2023) and (2024-2032).

• The report also offers the historical (2017-2023) and forecast (2024-2032) markets for the product types, technology, end user, distribution channel and regions of surgical instrument tracking systems.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the surgical instrument tracking systems market are Fortive Corporation, Material Management Microsystems, Haldor Advanced Technologies, BD, Getinge AB, STERIS, STANLEY Healthcare, MOBILE ASPECTS, Integra LifeSciences, Xerafy Singapore Pte Ltd., B. Braun Melsungen AG, SpaTrack Medical Limited, Scanlan International, CASE MEDICAL, ASANUS Medizintechnik GmbH, Infor, Vizinex RFID, ScanCARE Pty Ltd., TGX Medical Systems, and Censis Technologies, Inc. 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.

Key Highlights of the Report

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