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Global Real Time Location Systems (RTLS) for Healthcare Market: By Offering: Software, Hardware, Service; By Technology; By Application; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments
Global Real Time Location Systems (RTLS) for Healthcare Market Outlook
The global real time location systems (RTLS) for healthcare market attained a value of above USD 2024.71 million in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 19.4% to reach more than USD 5866.63 million by 2027.
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Robust Growth of the RFID Segment to Bolster the Growth of the Real Time Location Systems (RTLS) for Healthcare Industry
Based on technology, the radio frequency identification (RFID) segment accounts for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. This can be attributed to the accurate and efficient tracking capability offered by RFID technology, which aids to locate equipment and people in real-time. This technology also provides access to medical data for doctors, nurses and other healthcare staff, due to which its demand is surging. RFID tags reduce the risk of misidentification issues in healthcare, especially in the cases of blood sampling and medication administration, which is increasing their utilisation to provide robust healthcare services. In addition, the RFID technology improves hand hygiene tracking practices and compliance, which prevent hospital acquired infections. This, in turn, is surging the demand for the segment, especially in the wake of the COVID-19 outbreak, which is augmenting the market growth.
North America Accounts for a Significant Share in the Market for Real Time Location Systems (RTLS) for Healthcare
The real time location systems (RTLS) for healthcare industry in North America is being driven by the presence of major RFID tracking solution providers in the United States and Canada. The increasing public spending on healthcare by governments and the rising cases of cardiovascular and musculoskeletal disorders among the geriatric population are fuelling the growth of the market. With the increasing penetration of technologies like artificial intelligence (AI) and the growing efforts by the hospital staff towards providing better patient management during emergency cases, the market for real time location systems (RTLS) for healthcare is estimated to witness a healthy growth in the forecast period.
Real Time Location Systems (RTLS) for Healthcare: Market Segmentation
Real time location systems (RTLS) for healthcare are defined as systems that are utilised for real-time tracking and management of staffs, medical assets, and patients under diversified patient-care environments. Such systems reduce the administrative burden in healthcare facilities while enhancing the safety of patients and healthcare workers.
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Based on offering, the market is segmented into:
- Software
- Hardware
- Service
On the basis of technology, the industry is divided into:
- WiFi
- Bluetooth Low Energy
- Zigbee
- RFID
- Ultrawide Band
- GPS
- Ultrasound
- Passive RFID
- Infrared
- Others
The major applications of real time location systems (RTLS) for healthcare include:
- Asset Tracking
- Patient Safety
- Personnel Tracking
- Environmental Monitoring
- Others
The significant end uses of real time location systems (RTLS) for healthcare include:
- Hospitals
- Clinics
- Emergency Medical Services
- Eldercare Facilities
- Diagnostic Labs
The EMR report looks into the regional market of real time location systems (RTLS) for healthcare like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Applications of Real Time Location Systems (RTLS) in Various Healthcare Facilities to Boost the Market Growth
The global market for real time location systems (RTLS) for healthcare is being driven by the growing applications of such systems in hospitals, emergency medical services, eldercare facilities, ambulatory surgical centres, and diagnostic labs, among others. The growing popularity of the ultra-wideband technology-enabled RTLS solutions in hospitals owing to their high accuracy is likely to bolster the market growth. As RTLS streamlines workflow and increases the clinical quality for efficient patient care, it is increasingly adopted in the surging clinics and hospitals in emerging economies like India, China, and Brazil, among others, which is likely to propel the demand for RTLS systems. Over the forecast period, the growing utility of WiFi, Bluetooth, Zigbee, and GPS technology, among others, is anticipated to bolster the market growth.
Key Industry Players in the Global Real Time Location Systems (RTLS) for Healthcare Market
The report gives a detailed analysis of the following key players in the global real time location systems (RTLS) for healthcare market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Olympus Corporation
- Baxter International
- Stanley Black & Decker, Inc.
- Fresenius Medical Care AG
- CenTrak, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Offering, Technology, Application, End Use, Region |
| Breakup by Offering | Software, Hardware, Service |
| Breakup by Technology | WiFi, Bluetooth Low Energy, Zigbee, RFID, Ultrawide Band, GPS, Ultrasound, Passive RFID, Infrared, Others |
| Breakup by Application | Asset tracking, Patient Safety, Personnel Tracking. Environmental Monitoring, Others |
| Breakup by End Use | Hospitals, Clinics, Emergency Medical Services, Eldercare Facilities, Diagnostic Labs |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Olympus Corporation, Baxter International, Stanley Black & Decker, Inc., Fresenius Medical Care AG, CenTrak, Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Real Time Location Systems (RTLS) for Healthcare Market Analysis
8.1 Key Industry Highlights
8.2 Global Real Time Location Systems (RTLS) for Healthcare Historical Market (2018-2022)
8.3 Global Real Time Location Systems (RTLS) for Healthcare Market Forecast (2023-2028)
8.4 Global Real Time Location Systems (RTLS) for Healthcare Market by Offering
8.4.1 Software
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Hardware
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Service
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Real Time Location Systems (RTLS) for Healthcare Market by Technology
8.5.1 WiFi
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Bluetooth Low Energy
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Zigbee
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 RFID
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Ultrawide Band
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 GPS
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Ultrasound
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2018-2022)
8.5.7.3 Forecast Trend (2023-2028)
8.5.8 Passive RFID
8.5.8.1 Market Share
8.5.8.2 Historical Trend (2018-2022)
8.5.8.3 Forecast Trend (2023-2028)
8.5.9 Infrared
8.5.9.1 Market Share
8.5.9.2 Historical Trend (2018-2022)
8.5.9.3 Forecast Trend (2023-2028)
8.5.10 Others
8.6 Global Real Time Location Systems (RTLS) for Healthcare Market by Application
8.6.1 Asset tracking
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Patient Safety
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Personnel Tracking
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Environmental Monitoring
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Real Time Location Systems (RTLS) for Healthcare Market by End Use
8.7.1 Hospitals
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Clinics
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Emergency Medical Services
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Eldercare Facilities
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Diagnostic Labs
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.8 Global Real Time Location Systems (RTLS) for Healthcare Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Olympus Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Baxter International
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Stanley Black & Decker, Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Fresenius Medical Care AG
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 CenTrak, Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Real Time Location Systems (RTLS) for Healthcare Market: Key Industry Highlights, 2018 and 2028
2. Global Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Offering (USD Million), 2018-2022
3. Global Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Offering (USD Million), 2023-2028
4. Global Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Technology (USD Million), 2018-2022
5. Global Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Technology (USD Million), 2023-2028
6. Global Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by End Use (USD Million), 2018-2022
9. Global Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by End Use (USD Million), 2023-2028
10. Global Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Real Time Location Systems (RTLS) for Healthcare Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Real Time Location Systems (RTLS) for Healthcare Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Real Time Location Systems (RTLS) for Healthcare Market Structure
Key Questions Answered in the Report
In 2021, the global real time location systems (RTLS) for healthcare market attained a value of more than USD 2024.71 million.
The market is estimated to grow at a CAGR of 19.4% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach over USD 5866.63 million by 2027.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising applications of RTLS systems in various healthcare units, the growing demand to bolster patient-care in hospitals, the increasing penetration of AI in healthcare, and surging healthcare awareness.
The growing expansion of the healthcare sector, technological advancements in healthcare infrastructure in the emerging economies, the growing popularity of the ultra-wideband technology RTLS solutions are expected to bolster the growth of the industry.
Software, hardware, and service are the different offerings of real time location systems (RTLS) for healthcare in the market.
WiFi, Bluetooth low energy, Zigbee, RFID, ultrawide band, GPS, ultrasound, passive RFID, and infrared, among others, are the major technologies of real time location systems (RTLS) for healthcare.
Asset tracking, patient safety, personnel tracking, and environmental monitoring, among others are the significant applications of real time location systems (RTLS) for healthcare.
Hospitals, clinics, emergency medical services, eldercare facilities, and diagnostic labs are the different end uses of real time location systems (RTLS) for healthcare.
The major players in the industry are Olympus Corporation, Baxter International, Stanley Black & Decker, Inc., Fresenius Medical Care AG, and CenTrak, Inc., among others.
Analyst Review
The global real time location systems (RTLS) for healthcare market attained a value of more than USD 2024.71 million in 2021, driven by the increasing healthcare expenditure. Aided by the rising investments towards bolstering the patient care system, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 19.4%. The market is projected to reach a value of over USD 5866.63 million by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on offering, the real time location systems (RTLS) for healthcare industry is divided into software, hardware, and service. On the basis of technology, the market can be segmented into WiFi, Bluetooth low energy, Zigbee, RFID, ultrawide band, GPS, ultrasound, passive RFID, and infrared, among others. Based on application, the market is segmented into asset tracking, patient safety, personnel tracking, and environmental monitoring, among others. By end use, the market is divided into hospitals, clinics, emergency medical services, eldercare facilities, and diagnostic labs. The major regional markets for real time location systems (RTLS) for healthcare are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Olympus Corporation, Baxter International, Stanley Black & Decker, Inc., Fresenius Medical Care AG, and CenTrak, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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