RTLS for Healthcare Market: Technological Advancements, Professional Survey and Future Industry Trends by 2027

The global RTLS for healthcare market is expected to reach US$ 6,384.45 Mn in 2027 from US$ 1,455.73 Mn in 2018. The market is estimated to grow with a CAGR of 18.6% from 2019-2027.

The market for RTLS for healthcare is expected to grow, owing to factors such as Benefits associated with RTLS system like it helps to reduce operation cost, managing hospital assets and patient tracking system is likely to have a positive impact on the growth of the market in the coming years.

The major players operating in the RTLS for healthcare market include, CenTrak, Impinj, Inc., Intelligent InSites, Aruba (Hewlett Packard Enterprise Development LP), Midmark Corporation, Sanitag, Sonitor Technologies, Stanley Healthcare and Teletracking Technologies among the others.

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Asia Pacific is the fastest growing geographic market and is expected to grow at CAGR of 19.4% throughout the forecast period. The region has witnessed several government funding for development of healthcare infrastructure, collaboration between companies and hospitals for use of RTLS in the field of hospital asset management and patient tracking.

Global RTLS for healthcare market, based on the application, was segmented as, inventory and asset tracking, patient and staff tracking, access control and security, environment monitoring, supply chain management and operation automation and others. In 2018, inventory and asset tracking held the largest share of the market, by application. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. The benefits such as RTLS can automate inventory control, and thus this reduces the physically managing inventory which are labor-intensive, costly, and time-consuming these factors are anticipated to lead to the growth of the segment during the forecast period.

The market has witnessed various organic as well as inorganic developments during recent years in the RTLS for healthcare market. For instance, in July 2018, Zebra Technologies Corporation, the market leader in rugged mobile computers, barcode scanners and barcode printers enhanced with software and services to enable real-time enterprise visibility, announced two new healthcare barcode printing solutions that can identify patients and specimens at the point of care.

Product and services Insights

The global RTLS for healthcare market by facility type was led by, hospitals & healthcare facilities. The segment is also expected to witness growth at a significant rate during the forecast period owing to growing hospital industry and increasing IoT in the healthcare industry

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Posted by on Friday November 15 2019, 5:59 AM EST. All trademarks acknowledged. Filed under Biotechnology, Diagnostics, Healthcare, Life Sciences, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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