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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.
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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.
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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.
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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:
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| Breakup by Product Type |
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| Breakup by Application |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
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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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