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Surgical Instrument Tracking Systems Market

Global Surgical Instrument Tracking Systems Market Growth: By Product Types: Hardware, Software, Services; By Technology: Barcode Tracking, Radio Frequency Identification (RFID), Electronic Tracking, Others; By End User: Hospitals, Others; By Distribution Channel; Regional Analysis; Supplier Landscape; 2024-2032

Global Surgical Instrument Tracking Systems Market Outlook

The global surgical instrument tracking systems market value was USD 222.96 million in 2023, driven by the rising incidence of retained surgical instruments across the globe. The market size is anticipated to grow at a CAGR of 20% during the forecast period of 2024-2032 to achieve a value of USD 1,150.42 million by 2032.

 

Global Surgical Instrument Tracking Systems Market

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The major factors driving the industry growth are the growing incidences of retained surgical instruments in the human body and the misplacement of such devices after surgical operations. Thus, the demand for advanced solutions like 2D barcodes and RFID to monitor the retained equipment is rising, boosting the sales of surgical instrument tracking systems globally.

 

Properties and Applications

Surgical instrument tracking systems are devices with advanced scanning technology in combination with inventory management application software, which provides management solutions for comprehensive surgical devices. It helps the user to gain full control over the surgical inventory.

 

Global Surgical Instrument Tracking Systems Market By Product

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The global surgical instrument tracking systems market can be divided based on segments like product, technology, and regions.

  • Products: 
    • Hardware Systems
    • Software Systems
    • Services 
  • Technology:
    • Barcodes
    • Radio Frequency Identification (RFID)

The EMR report looks into the regional surgical instrument tracking systems markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

 

Global Surgical Instrument Tracking Systems Market By Region

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Market Analysis

With the growing instances of surgeries, the demand for surgical instrument tracking systems is also growing. In hospitals, the adoption of instrument tracking devices has witnessed a significant growth, which is boosting the sales of surgical instrument tracking systems globally. The factors like the growing need for inventory management coupled with the implementation of Unique Device Identification (UDI) regulations by the FDA, rapid technological development, and increased government efforts, encouraging the adoption of such devices are expected to aid the industry over the forecast period. Detection of medical equipment, along with the need for enhanced inventory management practices for surgical instruments, including sterilisation procedures, are some of the major issues encountered during the work cycle in the hospitals. Thus, the manufacturers are developing innovative technologies, which, in turn, is aiding the growth of the industry.

The software segment, among other product-types, leads the global surgical instrument tracking systems market, accounting for the highest share in the market. Further, the barcode technology, particularly 2D barcodes like data matrix and QR code, accounted for a major share in the market in 2020 owing to its increased adoption in the medical devices industry due to its low cost and robust build.

Region-wise, while North America dominated the surgical instrument tracking systems industry, accounting for the highest share in the market in 2020, the Asia Pacific is expected to witness the fastest growth rate over the forecast period owing to the untapped growth opportunities and the rapidly evolving healthcare sector in countries like China and India in the region.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global surgical instrument tracking systems industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • 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
  • Censis Technologies, Inc. 

The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

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 Types
  • Technology
  • End User
  • Distribution Channel
  • Region
Breakup by Product Types
  • Hardware
  • Software
  • Services
Breakup by Technology
  • Barcode Tracking
  • Radio Frequency Identification (RFID)
  • Electronic Tracking
  • Others
Breakup by End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Research Centers
  • Clinics
  • Others
Breakup by Distribution Channel
  • Direct Tenders
  • Third Party Distributors
  • 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
  • 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
  • Censis Technologies, Inc.
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.

 

*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 Surgical Instrument Tracking Systems Market Overview 

    3.1    Global Surgical Instrument Tracking Systems Market Historical Value (2017-2023) 
    3.2    Global Surgical Instrument Tracking Systems Market Forecast Value (2024-2032)
4    Global Surgical Instrument Tracking Systems Market Landscape
    4.1    Global Surgical Instrument Tracking Systems Developers Landscape
        4.1.1    Analysis by Year of Establishment
        4.1.2    Analysis by Company Size
        4.1.3    Analysis by Region
    4.2    Global Surgical Instrument Tracking Systems Product Landscape
        4.2.1    Analysis by Product Type
        4.2.2    Analysis by Technology
        4.2.3    Analysis by End User
5    Global Surgical Instrument Tracking Systems Market Dynamics
    5.1    Market Drivers and Constraints
    5.2    SWOT Analysis
    5.3    Porter’s Five Forces Model 
    5.4    Key Demand Indicators
    5.5    Key Price Indicators
    5.6    Industry Events, Initiatives, and Trends 
    5.7    Value Chain Analysis
6    Global Surgical Instrument Tracking Systems Market Segmentation 
    6.1    Global Surgical Instrument Tracking Systems Market by Product Types
        6.1.1    Market Overview
        6.1.2    Hardware
        6.1.3    Software
        6.1.4    Services
    6.2    Global Surgical Instrument Tracking Systems Market by Technology
        6.2.1    Market Overview
        6.2.2    Barcode Tracking
        6.2.3    Radio Frequency Identification (RFID)
        6.2.4    Electronic Tracking
        6.2.5    Others
    6.3    Global Surgical Instrument Tracking Systems Market by End User
        6.3.1    Market Overview
        6.3.2    Hospitals
        6.3.3    Ambulatory Surgical Centers
        6.3.4    Research Centers
        6.3.5    Clinics
        6.3.6    Others
    6.4    Global Surgical Instrument Tracking Systems Market by Distribution Channel
        6.4.1    Market Overview
        6.4.2    Direct Tenders
        6.4.3    Third Party Distributors
        6.4.4    Others
    6.5    Global Surgical Instrument Tracking Systems Market by Region
        6.5.1    Market Overview
        6.5.2    North America 
        6.5.3    Europe
        6.5.4    Asia Pacific
        6.5.5    Latin America
        6.5.6    Middle East and Africa
7    North America Surgical Instrument Tracking Systems Market
    7.1    Market Share by Country
    7.2    United States of America
    7.3    Canada
8    Europe Surgical Instrument Tracking Systems Market
    8.1    Market Share by Country
    8.2    United Kingdom
    8.3    Germany
    8.4    France
    8.5    Italy
    8.6    Others
9    Asia Pacific Surgical Instrument Tracking Systems Market
    9.1    Market Share by Country
    9.2    China
    9.3    Japan
    9.4    India
    9.5    ASEAN
    9.6    Australia
    9.7    Others
10    Latin America Surgical Instrument Tracking Systems Market
    10.1    Market Share by Country
    10.2    Brazil
    10.3    Argentina
    10.4    Mexico
    10.5    Others
11    Middle East and Africa Surgical Instrument Tracking Systems Market
    11.1    Market Share by Country
    11.2    Saudi Arabia
    11.3    United Arab Emirates
    11.4    Nigeria
    11.5    South Africa
    11.6    Others
12    Patent Analysis
    12.1    Analysis by Type of Patent
    12.2    Analysis by Publication year
    12.3    Analysis by Issuing Authority
    12.4    Analysis by Patent Age
    12.5    Analysis by CPC Analysis
    12.6    Analysis by Patent Valuation 
    12.7    Analysis by Key Players
13    Grants Analysis
    13.1    Analysis by year
    13.2    Analysis by Amount Awarded
    13.3    Analysis by Issuing Authority
    13.4    Analysis by Grant Application
    13.5    Analysis by Funding Institute
    13.6    Analysis by NIH Departments
    13.7    Analysis by Recipient Organization 
14    Funding 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    Partnership and Collaborations Analysis
    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    Regulatory Framework
    16.1    Regulatory Overview
        16.1.1    US FDA
        16.1.2    EU EMA
        16.1.3    INDIA CDSCO
        16.1.4    JAPAN PMDA
        16.1.5    Others
17    Supplier Landscape
    17.1    Fortive Corporation
        17.1.1    Financial Analysis
        17.1.2    Product Portfolio
        17.1.3    Demographic Reach and Achievements
        17.1.4    Mergers and Acquisitions
        17.1.5    Certifications
    17.2    Material Management Microsystems
        17.2.1    Financial Analysis
        17.2.2    Product Portfolio
        17.2.3    Demographic Reach and Achievements
        17.2.4    Mergers and Acquisitions
        17.2.5    Certifications
    17.3    Haldor Advanced Technologies
        17.3.1    Financial Analysis
        17.3.2    Product Portfolio
        17.3.3    Demographic Reach and Achievements
        17.3.4    Mergers and Acquisitions
        17.3.5    Certifications
    17.4    BD
        17.4.1    Financial Analysis
        17.4.2    Product Portfolio
        17.4.3    Demographic Reach and Achievements
        17.4.4    Mergers and Acquisitions
        17.4.5    Certifications
    17.5    Getinge AB
        17.5.1    Financial Analysis
        17.5.2    Product Portfolio
        17.5.3    Demographic Reach and Achievements
        17.5.4    Mergers and Acquisitions
        17.5.5    Certifications
    17.6    STERIS
        17.6.1    Financial Analysis
        17.6.2    Product Portfolio
        17.6.3    Demographic Reach and Achievements
        17.6.4    Mergers and Acquisitions
        17.6.5    Certifications
    17.7    STANLEY Healthcare
        17.7.1    Financial Analysis
        17.7.2    Product Portfolio
        17.7.3    Demographic Reach and Achievements
        17.7.4    Mergers and Acquisitions
        17.7.5    Certifications
    17.8    MOBILE ASPECTS
        17.8.1    Financial Analysis
        17.8.2    Product Portfolio
        17.8.3    Demographic Reach and Achievements
        17.8.4    Mergers and Acquisitions
        17.8.5    Certifications
    17.9    Integra LifeSciences
        17.9.1    Financial Analysis
        17.9.2    Product Portfolio
        17.9.3    Demographic Reach and Achievements
        17.9.4    Mergers and Acquisitions
        17.9.5    Certifications
    17.10    Xerafy Singapore Pte Ltd.
        17.10.1    Financial Analysis
        17.10.2    Product Portfolio
        17.10.3    Demographic Reach and Achievements
        17.10.4    Mergers and Acquisitions
        17.10.5    Certifications
    17.11    B. Braun Melsungen AG
        17.11.1    Financial Analysis
        17.11.2    Product Portfolio
        17.11.3    Demographic Reach and Achievements
        17.11.4    Mergers and Acquisitions
        17.11.5    Certifications
    17.12    SpaTrack Medical Limited
        17.12.1    Financial Analysis
        17.12.2    Product Portfolio
        17.12.3    Demographic Reach and Achievements
        17.12.4    Mergers and Acquisitions
        17.12.5    Certifications
    17.13    Scanlan International
        17.13.1    Financial Analysis
        17.13.2    Product Portfolio
        17.13.3    Demographic Reach and Achievements
        17.13.4    Mergers and Acquisitions
        17.13.5    Certifications
    17.14    CASE MEDICAL
        17.14.1    Financial Analysis
        17.14.2    Product Portfolio
        17.14.3    Demographic Reach and Achievements
        17.14.4    Mergers and Acquisitions
        17.14.5    Certifications
    17.15    ASANUS Medizintechnik GmbH
        17.15.1    Financial Analysis
        17.15.2    Product Portfolio
        17.15.3    Demographic Reach and Achievements
        17.15.4    Mergers and Acquisitions
        17.15.5    Certifications
    17.16    Infor
        17.16.1    Financial Analysis
        17.16.2    Product Portfolio
        17.16.3    Demographic Reach and Achievements
        17.16.4    Mergers and Acquisitions
        17.16.5    Certifications
    17.17    Vizinex RFID
        17.17.1    Financial Analysis
        17.17.2    Product Portfolio
        17.17.3    Demographic Reach and Achievements
        17.17.4    Mergers and Acquisitions
        17.17.5    Certifications
    17.18    ScanCARE Pty Ltd.
        17.18.1    Financial Analysis
        17.18.2    Product Portfolio
        17.18.3    Demographic Reach and Achievements
        17.18.4    Mergers and Acquisitions
        17.18.5    Certifications
    17.19    TGX Medical Systems
        17.19.1    Financial Analysis
        17.19.2    Product Portfolio
        17.19.3    Demographic Reach and Achievements
        17.19.4    Mergers and Acquisitions
        17.19.5    Certifications
    17.20    Censis Technologies, Inc.
        17.20.1    Financial Analysis
        17.20.2    Product Portfolio
        17.20.3    Demographic Reach and Achievements
        17.20.4    Mergers and Acquisitions
        17.20.5    Certifications
18    Global Surgical Instrument Tracking Systems Market - Distribution Model (Additional Insight)
    18.1    Overview 
    18.2    Potential Distributors 
    18.3    Key Parameters for Distribution Partner Assessment 
19    Key Opinion Leaders (KOL) Insights (Additional Insight)
20    Company Competitiveness Analysis (Additional Insight)

    20.1    Very Small Companies
    20.2    Small Companies
    20.3    Mid-Sized Companies
    20.4    Large Companies
    20.5    Very Large Companies
21    Payment Methods (Additional Insight)
    21.1    Government Funded
    21.2    Private Insurance
    21.3    Out-of-Pocket

 

*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

The surgical instrument tracking market was valued at USD 222.96 million in 2023.

The market is expected to grow at a CAGR of 20% from 2024 to 2032 to reach a value of USD 1,150.42 million by 2032.

The major drivers of the market include the growing incidences of retained surgical instruments in the human body and the misplacement of such devices after surgical operations, rising need for inventory management, growing technological development, and innovations in the industry.

The growing demand for advanced solutions like 2D barcodes and RFID to monitor the retained equipment is the key industry trend propelling the growth of the market.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading products of surgical instrument tracking systems in the industry are hardware systems, software systems, and services.

The major technologies of surgical instrument tracking systems in the market are barcodes and radio frequency identification (RFID).

The major players in the industry are Censis Technologies, Inc., Xerafy Singapore Pte Ltd., Getinge AB, Microsystems, Inc., B. Braun Melsungen AG, Haldor Advanced Technologies and SpaTrack Medical Limited, among others.

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