Surgical Instrument Tracking Systems Market Report- In-Depth Analysis on Market Shares, Growth Strategies, Leading Players | Fortive Corporation Group, Stanley Healthcare

The surgical instrument tracking systems market is projected to reach USD 338 million by 2025 from USD 180 million in 2020, at a CAGR of 13.4% during the forecast period.

The report analyzes the surgical instrument tracking systems market and aims at estimating the market size and future growth potential of this market based on various segments such as product, distribution channel, and region. The report also includes a product portfolio matrix of various cancer profiling products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.

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Top Company Profile Analysis in this Report-
Fortive Corporation Group (US), Material Management Microsystems(US), Becton, Dickson and Company (US), Haldor Advanced Technologies (US), Key Surgical,Inc. (US), Mobile Aspects (US), TGX Medical Systems (US), Xerafy (China), Stanley Healthcare (Israel), B.Barun Melsungen (Germany), Gentinge Group (Sweden), Steris Instrument Management Services (US),Koch Industries (US), SpaTrack Medical Limited (UK), Scanlan International,Inc. (US), Case Medical (US), Asanus Medizintechnik Gmbh Inc. (Germany), Keir Surgical Ltd. (Canada), Intechnology Distribution PTY Ltd. (Australia), Nutrace (US)

The tracking systems are gaining importance and is increasing in demand among healthcare providers due to the drive to reduce costs and increase efficiency. These systems ensure better inventory and asset management practices is a key aspect of this drive. End users such as hospitals are focused on minimizing the loss of valuable assets and ensuring smooth workflows. Other major factors driving market growth include the FDA’s Unique Device Identification mandates and the growth of the surgical instruments market. However, high systems cost, long investment cycles, and budgetary constraints, and technological limitations are expected to restrain market growth to a certain extent.

Based on technology, the surgical instrument tracking systems market is segmented into barcode and RFID.The barcode segment held the highest market share. The high market share of this segment can be attributed to the low cost of installation has resulted in the increased adoption of the barcode technology in the surgical instrument tracking systems market.

Based on component, the hardware segment is expected to register the highest CAGR during the forecast period.

Based on component, the surgical instrument tracking systems market is segmented into software, hardware, and services. The hardware segment is projected to register the highest CAGR during the forecast period.This is mainly due to the repeat purchase of non-durable RFID tags/barcode labels that need replacement as tags/labels are prone to detachment during washing and/or damage during sterilization cycles.

By enduser , the hospital holds the highest market share during the forecast period.

Based on end user , the surgical instrument tracking systems market is segmented into hospitals and other end users. The hospitals segment accounted for the larger share of the surgical instrument tracking systems market in 2018. The growth of the hospitals segment is attributed to their high patient inflow as compared to other end users in the market.

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Reasons to Buy the Report-
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:
Market Penetration: Comprehensive information on product portfolios offered by the top players in the global surgical instrument tracking systems market. The report analyzes this market by product and distribution channel.
Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global surgical instrument tracking systems market
Market Development: Comprehensive information on the lucrative emerging markets by product and distribution channel
Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global surgical instrument tracking systems market
Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global surgical instrument tracking systems market.

Table Of Contents in this Report-
1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered For The Study
1.4 Currency
1.5 Limitations
1.6 Summary Of Changes
1.7 Market Stakeholders

2 Research Methodology
2.1 Research Approach
2.1.1 Secondary Research
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Research
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown Of Primaries
2.2 Market Size Estimation
2.3 Data Triangulation Approach
2.4 Market Share Analysis
2.5 Assumptions For The Study

3 Executive Summary
4 Premium Insights
4.1 Surgical Instrument Tracking Systems: Market Overview
4.2 North America: Surgical Instrument Tracking Systems Market, By Component (2018)
4.3 Geographical Snapshot Of The Surgical Instrument Tracking Systems Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Need To Meet Fda Unique Device Identification Mandates
5.2.1.2 Requirement For Better Inventory And Asset Management Practices
5.2.1.3 Growth Of The Surgical Instruments Market
5.2.2 Restraints
5.2.2.1 High System Cost, Long Investment Cycles, And Lack Of Realization Of Roi
5.2.3 Opportunities
5.2.3.1 Emerging Economies
5.2.3.2 Development Of Active Rfid Technology For Instruments
5.2.4 Challenges
5.2.4.1 Technological Limitations
5.2 Covid Impact On Surical Instrument Tracking Market

6 Surgical Instrument Tracking Systems Market, By Technology
6.1 Introduction
6.2 Barcode
6.2.1 Low Cost Of Installation To Drive The Growth Of This Market Segment
6.3 Radiofrequency Identification (Rfid)
6.3.1 Higher Data Storage Capacity & Faster Data Transmission Rate Are Supporting The Growth Of The Rfid Market

7 Surgical Instrument Tracking Systems Market, By Component
7.1 Introduction
7.2 Software
7.2.1 Frequent Need For Upgrades And The Introduction Of New Software Applications To Drive Market Growth
7.3 Hardware
7.3.1 Readers
7.3.1.1 Technological Advancements Are Expected To Support The Growth Of This Market
7.3.2 Tags
7.3.2.1 Benefits Associated With Tags, Such As Durability & Long Read Range, Make Them Ideal For Surgical Instrument Tracking Implementation
7.3.3 Other Hardware
7.4 Services
7.4.1 Recurring Requirement Of Services & Growing Adoption Of Cloud-Based Models To Drive Market Growth

8 Surgical Instrument Tracking Systems Market, By End User
8.1 Introduction
8.2 Covid Impact, By End User
8.3 Hospitals
8.3.1 Public Hospitals
8.3.1.1 Need To Cut Healthcare Expenditure And Manage Existing Equipment Is Driving The Demand For Tracking Solutions In Public Hospitals
8.3.2 Private Hospitals
8.3.2.1 Private Hospitals Focus On Acquisitions And Consolidation For Growth
8.4 Other End Users

and more...

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