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Hospital Asset Management Systems Market

Global Hospital Asset Management Systems Market Size, Share: By Product Type: Radio-frequency Identification (RFID), Real-time Location Systems (RTLS), Ultrasound and Infrared Tags; By Application: Supply Chain Management, Staff Management, Patient Management, Others; By End User; Regional Analysis; Supplier Landscape; 2024-2032

Global Hospital Asset Management Systems Market Size

The global hospital asset management systems market size is expected to grow at a CAGR of 31.60% during the forecast period of 2024-2032, driven by the rising concern for the patient safety across the globe.

 

hospital asset management systems market

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Global Hospital Asset Management Systems Market Outlook

  • The growing concern for patient safety is likely to enhance the hospital asset management systems market growth during the forecast period as such systems provide patient tracking.
  • The increasing adoption of advanced technology across the healthcare industry is expected to fuel the market growth of hospital asset management systems across the globe over the coming years.
  • With the rising number of hospitals, the requirement for efficiency of available resources is likely to grow. This is further expected to propel the demand for hospital asset management systems globally.

 

Global Hospital Asset Management Systems Market Overview

Hospital asset management systems (HAMS) are designed to let health facilities keep track on the medical tools, equipment, supplies and other assets quality. Installation of such systems can help save costs, improving the lifespan of assets and limiting unexpected repairs. It can also help in minimising the scope of human error by creating a report for maintenance and repair activities. Preference towards IoT based services, and automation is amongst the major market trends. The integration with hospital information systems (HIS) also enhances efficiency, making HAMS an indispensable part of today’s hospital environment.

 

Global Hospital Asset Management Systems Market Growth Drivers

Surge in Number of Hospitals Act as a Catalyst for Growth

The increasing number of healthcare facilities is expected to substantially drive the market. To meet the rising frequency of patient hospitalizations, ICU admissions, and chronic illnesses, different types of hospitals, as well as diagnostic facilities are increasing. This can elevate the demand for hospital asset management systems as it can streamline processes and improve workflows while retaining quality of assets.

 

Increasing Healthcare Expenditure to Meet Hospital Asset Management Systems Market Demand

The rise in healthcare expenditure worldwide is a key factor driving the hospital asset management systems market. The government as well as healthcare organizations are increasing their spending on hospitals that can accommodate the increasing population seeking quality healthcare solutions. These investments relate to the purchase of medical equipment, devices, and various supplies that are unique to hospitals. Thus, hospital asset management system has become particularly important as it can help hospitals make efficient use of assets, control costs, and improve productivity. Other advantages of using an asset tracking system in a healthcare institution are that it provides the lifecycle of the assets and offers a highly efficient tracking system. This can help in determining the equipment that is not often used or may be a duplicate, resulting in efficient procurement and allocation of assets. Besides, this strategic management enhances the efficient functioning of hospitals and, at the same time, optimally distributes resources among different spheres of activity and offers better patient care outcomes.

 

hospital asset management systems market by segments

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Global Hospital Asset Management Systems Market Trends

Key Trends Impact
Acceptance of Hospital Asset Management System in the Pharmaceutical Industry The necessity of hospital asset management systems and tactics in the pharmaceutical industry continues to rise as more and more industry players seek to run efficient and compliant business processes. Correct asset management establishes control and accountability of all the resources and materials to prevent costs and losses and enhance productivity.
Advanced Technological Integration Modern technologies such as RFID, IoT, and AI bring innovative improvements to the level of asset management, providing real-time information on location, condition, predictive maintenance plans as well as complex analytical results. Integration is a core aspect of operational functionality and effective delivery of patient services by producing efficient asset tracking, proactive maintenance, and a holistic information system.
Focus on Patient Safety Enhancement Meanwhile, asset management is an efficient way of addressing patient safety as it involves the availability and maintenance of necessary and vital medical hardware. Because of this emphasis on patient care and asset management, solutions are being adopted to prevent equipment breakdowns during patient care and to improve the safety and effectiveness of medical treatments.
Cloud-Based Hospital Asset Management Solution Various advantages of using cloud-based hospital asset management solutions include lower first-time costs, flexibility in capacity, and improved security. Cloud technology is gradually being adopted across the healthcare sector, thus providing companies with an opportunity to offer superior services. Further, the interaction of hospital asset management systems with electronic health records is envisioned to boost market growth substantially. This integration will provide a holistic understanding of patient care and asset usage to support quick and intelligent decision-making to enhance patient care.

 

Recent Developments in Hospital Asset Management Systems Market

In April 2023, GE Healthcare introduced ReadySee, a new hospital asset management and network supervision commodity. ReadySee claims that the offering of real-time visibility into HealthPlus’ assets and operations in the hospital will improve the choices and quality of patient care. This solution brings benefits such as increased effectiveness of assets’ tracking, timely prediction of when equipment will need service, and better resource management. In this context, ReadySee has the potential to improve the efficiency of the hospital’s asset management, which in turn can lead to improved hospital efficiency and patient care.

 

Global Hospital Asset Management Systems Market Segmentation

Market Breakup by Product Type

  • Radio-frequency Identification (RFID)
  • Real-time Location Systems (RTLS)
  • Ultrasound and Infrared Tags

 

Market Breakup by Application

  • Supply Chain Management
  • Staff Management
  • Patient Management
  • Instrument Management

 

Market Breakup End User

  • Hospitals
  • Laboratories
  • Others

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Global Hospital Asset Management Systems Market Share

Radio Frequency Identification (RFID) to Lead the Product Types Category

Depending on the type of product, the market can be categorized into the radio frequency identification (RFID) market, the real-time location system (RTLS) market, and ultrasound and infrared tags. The RFID segment shows its dominant position in the global hospital asset management systems market. RFID is a technology that employs radio frequencies across different frequencies to transmit data, making data acquisition almost fully automated and free from potential human errors and cumbersome labor. It allows for accurate tag reading without the need for direct line sighting or scanning of individual items, which will help extend segment growth in the future. Moreover, applications of RFID in inventory tracking, equipment tracking, personnel tracking, and patient tracking are expected to spur more growth in this segment.

 

hospital asset management systems market by region

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Global Hospital Asset Management Systems Market Analysis by Region

The geographical segmentation of the report involves North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America is expected to dominate the market for hospital asset management systems market, driven by its strong healthcare structure that fosters state-of-the art clinical and laboratory services. The faster pace of adopting the latest technology, along with the need for solutions to combat the counterfeiting of drugs, also contributes to the growth of the market in this region.

 

On the other hand, the Asia-Pacific region is expected to witness high growth, owing to technological developments in countries and increasing population of middle-aged people. More focus on the expansion of healthcare facilities and rising needs for advanced and easy solutions for asset management services are anticipated to drive the market and spur demand for technological advancements in the Asia Pacific.

 

Leading Players in the Global Hospital Asset Management Systems Market

The key features of the market report include patent analysis, funding and investment analysis along with recent strategic initiatives constituting recent partnerships and collaborations by the leading players. The major companies in the market are as follows:

 

Accruent, LLC

Founded in 1995, this company is among the leading specialists in service delivery of smart solutions. It offers integrated technology systems and physical and digital assets and spans the residential and commercial spaces globally.

 

AiRISTA Flow, Inc.

This is a top management design company in the United States providing Wi-Fi-based real time location systems (RTLS), hand hygiene solutions, and process improvement. The firm is a global supplier of highly developed software, hardware, and support for technology-oriented enterprises with innovative products and unique patents such as RFID-over-Wifi.

 

GE Healthcare

A well-known medical equipment provider that operates globally, GE assists clinicians to make faster and better decisions with the help of many intelligent devices, applications, services, and data analytics by leveraging its Edison intelligence platform as one of the most well-recognized pharmaceutical diagnostic and digital solutions innovative in the field.

 

Impinj, Inc.

It is a RAIN RFID company based in Washington, offering efficient healthcare asset management solutions at hospitals and various other healthcare units. Some of them are postings in radio frequency identification products and solutions, which serve to align business operations and objectives, minimize expenses, and ultimately advance patient care for Impinj hospitals.

 

Other companies in the market include Rfxcel Corporation, Link Labs, Inc., Terotam Techlabs Private Limited, SHRMpro Pvt Ltd, kaptune media india private limited (trackolap), Valuecoders india llp, Pcsinfinity Private Limited

 

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Application
  • End User
  • Region
Breakup by Product Type
  • Radio-frequency Identification (RFID)
  • Real-time Location Systems (RTLS)
  • Ultrasound and Infrared Tags
Breakup by Application
  • Supply Chain Management
  • Staff Management
  • Patient Management
  • Instrument Management 
Breakup by End User
  • Hospitals
  • Laboratories
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Accruent llc 
  • AiRISTA Flow 
  • GE Healthcare 
  • Rfxcel Corporation 
  • Impinj, Inc.
  • Link Labs, Inc
  • Terotam Techlabs Private Limited 
  • SHRMpro pvt ltd.
  • kaptune media india private limited (trackolap)
  • Valuecoders india llp 
  • Pcsinfinity Private Limited 

 

Key Questions Answered in the Hospital Asset Management Systems Market

  • What was the global hospital asset management systems market value in 2023?
  • What is the global hospital asset management systems market forecast outlook for 2024-2032?
  • What are the regional markets covered in the EMR report?
  • What are the major factors aiding the global hospital asset management systems market demand? 
  • What is the market segmentation based on product type?
  • What are the end users of the market?
  • Where does hospital asset management systems find its application?
  • What are the market's major drivers, opportunities, and restraints? 
  • Which regional market is expected to lead the market share in the forecast period? 
  • Which country is expected to experience expedited growth during the forecast period? 
  • What are the major global hospital asset management systems market trends?
  • How does the rise in the geriatric population impact the market size?
  • Who are the key players involved in the hospital asset management systems market?
  • What are the current unmet needs and challenges in the market?
  • How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?
  • How is the adoption of RFID technology improving the efficiency of hospital asset management systems market?
  • In what ways are ultrasound and infrared tags being utilized in hospital asset management systems market?
  • How do hospital asset management systems market streamline supply chain management in healthcare settings?
  • What specific needs do hospitals have that are addressed by asset management systems?
  • What factors are driving the growth of the hospital asset management systems market in North America?
  • How are European hospitals implementing hospital asset management systems market to enhance healthcare delivery?

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
    1.1    Objectives of the Study
    1.2    Key Assumptions
    1.3    Report Coverage – Key Segmentation and Scope 
    1.4    Research Methodology
2    Executive Summary
3    Global Hospital Asset Management Systems Market Overview 

    3.1    Global Hospital Asset Management Systems Market Historical Value (2017-2023) 
    3.2    Global Hospital Asset Management Systems Market Forecast Value (2024-2032)
4    Vendor Positioning Analysis
    4.1    Key Vendors
    4.2    Prospective Leaders
    4.3    Niche Leaders
    4.4    Disruptors
5    Global Hospital Asset Management Systems Market Landscape*
    5.1    Global Hospital Asset Management Systems: Developers Landscape
        5.1.1    Analysis by Year of Establishment
        5.1.2    Analysis by Company Size
        5.1.3    Analysis by Region
    5.2    Global Hospital Asset Management Systems: Product Landscape 
        5.2.1    Analysis by Product Type
        5.2.2    Analysis by Application
6    Global Hospital Asset Management Systems Market Dynamics
    6.1    Market Drivers and Constraints
    6.2    SWOT Analysis
        6.2.1    Strengths
        6.2.2    Weaknesses
        6.2.3    Opportunities
        6.2.4    Threats
    6.3    PESTEL Analysis 
        6.3.1    Political 
        6.3.2    Economic 
        6.3.3    Social 
        6.3.4    Technological 
        6.3.5    Legal 
        6.3.6    Environment
    6.4    Porter’s Five Forces Model
        6.4.1    Bargaining Power of Suppliers
        6.4.2    Bargaining Power of Buyers
        6.4.3    Threat of New Entrants
        6.4.4    Threat of Substitutes
        6.4.5    Degree of Rivalry
    6.5    Key Demand Indicators 
    6.6    Key Price Indicators
    6.7    Industry Events, Initiatives, and Trends  
    6.8    Value Chain Analysis
7    Global Hospital Asset Management Systems Market Segmentation (2017-2032)
    7.1    Global Hospital Asset Management Systems Market (2017-2032) by Product Type
        7.1.1    Market Overview
        7.1.2    Radio-frequency Identification (RFID)
        7.1.3    Real-time Location Systems (RTLS)
        7.1.4    Ultrasound and Infrared Tags
    7.2    Global Hospital Asset Management Systems Market (2017-2032) by Application
        7.2.1    Market Overview
        7.2.2    Supply Chain Management
        7.2.3    Staff Management
        7.2.4    Patient Management
        7.2.5    Instrument Management 
    7.3    Global Hospital Asset Management Systems Market (2017-2032) by End User
        7.3.1    Market Overview
        7.3.2    Hospitals
        7.3.3    Laboratories
        7.3.4    Others
    7.4    Global Hospital Asset Management Systems Market (2017-2032) by Region
        7.4.1    Market Overview
        7.4.2    North America 
        7.4.3    Europe
        7.4.4    Asia Pacific
        7.4.5    Latin America
        7.4.6    Middle East and Africa
8    North America Hospital Asset Management Systems Market (2017-2032)
    8.1    North America Hospital Asset Management Systems Market (2017-2032) by Product Type
        8.1.1    Market Overview
        8.1.2    Radio-frequency Identification (RFID)
        8.1.3    Real-time Location Systems (RTLS)
        8.1.4    Ultrasound and Infrared Tags
    8.2    North America Hospital Asset Management Systems Market (2017-2032) by Application
        8.2.1    Market Overview
        8.2.2    Supply Chain Management
        8.2.3    Staff Management
        8.2.4    Patient Management
        8.2.5    Instrument Management 
    8.3    North America Hospital Asset Management Systems Market (2017-2032) by End User
        8.3.1    Market Overview
        8.3.2    Hospitals
        8.3.3    Laboratories
        8.3.4    Others
    8.4    North America Hospital Asset Management Systems Market (2017-2032) by Country
        8.4.1    United States of America
        8.4.2    Canada
9    Europe Hospital Asset Management Systems Market (2017-2032)
    9.1    Europe Hospital Asset Management Systems Market (2017-2032) by Product Type
        9.1.1    Market Overview
        9.1.2    Radio-frequency Identification (RFID)
        9.1.3    Real-time Location Systems (RTLS)
        9.1.4    Ultrasound and Infrared Tags
    9.2    Europe Hospital Asset Management Systems Market (2017-2032) by Application
        9.2.1    Market Overview
        9.2.2    Supply Chain Management
        9.2.3    Staff Management
        9.2.4    Patient Management
        9.2.5    Instrument Management 
    9.3    Europe Hospital Asset Management Systems Market (2017-2032) by End User
        9.3.1    Market Overview
        9.3.2    Hospitals
        9.3.3    Laboratories
        9.3.4    Others
    9.4    Europe Hospital Asset Management Systems Market (2017-2032) by Country
        9.4.1    United Kingdom
        9.4.2    Germany
        9.4.3    France
        9.4.4    Italy
        9.4.5    Others
10    Asia Pacific Hospital Asset Management Systems Market (2017-2032)
    10.1    Asia Pacific Hospital Asset Management Systems Market (2017-2032) by Product Type
        10.1.1    Market Overview
        10.1.2    Radio-frequency Identification (RFID)
        10.1.3    Real-time Location Systems (RTLS)
        10.1.4    Ultrasound and Infrared Tags
    10.2    Asia Pacific Hospital Asset Management Systems Market (2017-2032) by Application
        10.2.1    Market Overview
        10.2.2    Supply Chain Management
        10.2.3    Staff Management
        10.2.4    Patient Management
        10.2.5    Instrument Management 
    10.3    Asia Pacific Hospital Asset Management Systems Market (2017-2032) by End User
        10.3.1    Market Overview
        10.3.2    Hospitals
        10.3.3    Laboratories
        10.3.4    Others
    10.4    Asia Pacific Hospital Asset Management Systems Market (2017-2032) by Country
        10.4.1    China
        10.4.2    Japan
        10.4.3    India
        10.4.4    ASEAN
        10.4.5    Australia
        10.4.6    Others
11    Latin America Hospital Asset Management Systems Market (2017-2032)
    11.1     Latin America Hospital Asset Management Systems Market (2017-2032) by Product Type
        11.1.1    Market Overview
        11.1.2    Radio-frequency Identification (RFID)
        11.1.3    Real-time Location Systems (RTLS)
        11.1.4    Ultrasound and Infrared Tags
    11.2    Latin America Hospital Asset Management Systems Market (2017-2032) by Application
        11.2.1    Market Overview
        11.2.2    Supply Chain Management
        11.2.3    Staff Management
        11.2.4    Patient Management
        11.2.5    Instrument Management 
    11.3    Latin America Hospital Asset Management Systems Market (2017-2032) by End User
        11.3.1    Market Overview
        11.3.2    Hospitals
        11.3.3    Laboratories
        11.3.4    Others
    11.4     Latin America Hospital Asset Management Systems Market (2017-2032) by Country
        11.4.1    Brazil
        11.4.2    Argentina
        11.4.3    Mexico
        11.4.4    Others
12    Middle East and Africa Hospital Asset Management Systems Market (2017-2032)
    12.1     Middle East and Africa Hospital Asset Management Systems Market (2017-2032) by Product Type
        12.1.1    Market Overview
        12.1.2    Radio-frequency Identification (RFID)
        12.1.3    Real-time Location Systems (RTLS)
        12.1.4    Ultrasound and Infrared Tags
    12.2    Middle East and Africa Hospital Asset Management Systems Market (2017-2032) by Application
        12.2.1    Market Overview
        12.2.2    Supply Chain Management
        12.2.3    Staff Management
        12.2.4    Patient Management
        12.2.5    Instrument Management 
    12.3    Middle East and Africa Hospital Asset Management Systems Market (2017-2032) by End User
        12.3.1    Market Overview
        12.3.2    Hospitals
        12.3.3    Laboratories
        12.3.4    Others
    12.4    Middle East and Africa Hospital Asset Management Systems Market (2017-2032) by Country
        12.4.1    Saudi Arabia
        12.4.2    United Arab Emirates
        12.4.3    Nigeria
        12.4.4    South Africa
        12.4.5    Others
13    Patent Analysis
    13.1     Analysis by Type of Patent
    13.2     Analysis by Publication Year
    13.3     Analysis by Issuing Authority
    13.4     Analysis by Patent Age
    13.5     Analysis by CPC Analysis
    13.6     Analysis by Patent Valuation 
    13.7     Analysis by Key Players
14    Funding and Investment Analysis
    14.1     Analysis by Funding Instances
    14.2     Analysis by Type of Funding
    14.3     Analysis by Funding Amount
    14.4     Analysis by Leading Players
    14.5     Analysis by Leading Investors
    14.6     Analysis by Geography
15    Strategic Initiative
    15.1     Analysis by Partnership Instances
    15.2     Analysis by Type of Partnership
    15.3     Analysis by Leading Players
    15.4     Analysis by Geography
16    Supplier Landscape
    16.1    Market Share Analysis, By Region (Top 5 Companies)
        16.1.1    Market Share Analysis: Global
        16.1.2    Market Share Analysis: North America
        16.1.3    Market Share Analysis: Europe
        16.1.4    Market Share Analysis: Asia-Pacific
        16.1.5    Market Share Analysis: Others
    16.2    Accruent llc 
        16.2.1    Financial Analysis
        16.2.2    Product Portfolio
        16.2.3    Demographic Reach and Achievements
        16.2.4    Mergers and Acquisitions
        16.2.5    Certifications 
    16.3    AiRISTA Flow  
        16.3.1    Financial Analysis
        16.3.2    Product Portfolio
        16.3.3    Demographic Reach and Achievements
        16.3.4    Mergers and Acquisitions
        16.3.5    Certifications
    16.4    GE Healthcare  
        16.4.1    Financial Analysis
        16.4.2    Product Portfolio
        16.4.3    Demographic Reach and Achievements
        16.4.4    Mergers and Acquisitions
        16.4.5    Certifications
    16.5    Rfxcel Corporation 
        16.5.1    Financial Analysis
        16.5.2    Product Portfolio
        16.5.3    Demographic Reach and Achievements
        16.5.4    Mergers and Acquisitions
        16.5.5    Certifications
    16.6    Impinj, Inc .
        16.6.1    Financial Analysis
        16.6.2    Product Portfolio
        16.6.3    Demographic Reach and Achievements
        16.6.4    Mergers and Acquisitions
        16.6.5    Certifications
    16.7    Link Labs, Inc . 
        16.7.1    Financial Analysis
        16.7.2    Product Portfolio
        16.7.3    Demographic Reach and Achievements
        16.7.4    Mergers and Acquisitions
        16.7.5    Certifications
    16.8    Terotam Techlabs Private Limited 
        16.8.1    Financial Analysis
        16.8.2    Product Portfolio
        16.8.3    Demographic Reach and Achievements
        16.8.4    Mergers and Acquisitions
        16.8.5    Certifications
    16.9    SHRMpro pvt ltd 
        16.9.1    Financial Analysis
        16.9.2    Product Portfolio
        16.9.3    Demographic Reach and Achievements
        16.9.4    Mergers and Acquisitions
        16.9.5    Certifications 
    16.10    kaptune media india private limited (trackolap)
        16.10.1    Financial Analysis
        16.10.2    Product Portfolio
        16.10.3    Demographic Reach and Achievements
        16.10.4    Mergers and Acquisitions
        16.10.5    Certifications 
    16.11    Valuecoders india llp 
        16.11.1    Financial Analysis
        16.11.2    Product Portfolio
        16.11.3    Demographic Reach and Achievements
        16.11.4    Mergers and Acquisitions
        16.11.5    Certifications
    16.12    Pcsinfinity Private Limited 
        16.12.1    Financial Analysis
        16.12.2    Product Portfolio
        16.12.3    Demographic Reach and Achievements
        16.12.4    Mergers and Acquisitions
        16.12.5    Certifications 
17    Hospital Asset Management Systems Market – Distribution Model (Additional Insight)
    17.1     Overview 
    17.2     Potential Distributors 
    17.3     Key Parameters for Distribution Partner Assessment 
18    Key Opinion Leaders (KOL) Insights (Additional Insight)


*Additional insights provided are customisable as per client requirements.

 

* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.


**The supplier list is not exhaustive, moreover we can provide analysis of companies as per custom request.

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