Global Healthcare Asset Management Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2023 –2030 |
 Market Size (Base Year) |
USD 25,119.90 Million |
 Market Size (Forecast Year) |
USD 544,743.77 Million |
 CAGR |
% |
| Major Markets Players |
|
Global Healthcare Asset Management Market, By Product (Radiofrequency Identification (RFID) Devices, Real-Time Location Systems (RTLS), Ultrasound and Infrared Tags), Application (Hospital Asset Management, Pharmaceutical Asset Management) – Industry Trends and Forecast to 2030.
Healthcare Asset Management Market Analysis and Size
The global market for healthcare asset management is estimated to increase rapidly over the forecast period of 2023 to 2030. Asset management is a systematic and cost-effective method of planning, acquiring, maintaining, operating, and disposing of a healthcare organization's machinery, equipment, and physical assets. The primary considerations that encourage the usage of healthcare asset management in healthcare organisations include the benefits of not losing track of medical devices, high operational costs, time saver, enhanced patient care, increased staff productivity, significant cost savings, and extensive maintenance.
Data Bridge Market Research analyses that the global healthcare asset management market, which was USD 25,119.90 million in 2022, is expected to reach USD 5,44,743.77 million by 2030, and is expected to undergo a CAGR of 46.90% during the forecast period of 2023 to 2030. “Radiofrequency Identification (RFID) devices dominates the product type segment of the global healthcare asset management market owing to the advancements in technology. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Healthcare Asset Management Market Scope and Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2023 to 2030 |
|
Base Year |
2022 |
|
Historic Years |
2021 (Customizable to 2015-2020) |
|
Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
|
Segments Covered |
Product (Radiofrequency Identification (RFID) Devices, Real-Time Location Systems (RTLS), Ultrasound and Infrared Tags), Application (Hospital Asset Management, Pharmaceutical Asset Management) |
|
Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
|
Market Players Covered |
AiRISTA Flow, Inc. (U.S.), CenTrak Inc. (U.S.), Novanta Inc. (U.S.), Sonitor Technologies (Norway), STANLEY Healthcare (U.S.), VERSUS TECHNOLOGIES (U.S.), Zebra Technologies Corporation (U.S.), General Electric Company (U.S.), IBM (U.S.), Siemens Healthcare GmbH (Germany), Aeroscout Industrial (U.S.), Awarepoint Corporation (U.S.), Radianse (U.S.), Midmark Corporation (U.S.), McKesson Corporation (U.S.), Cerner Corporation (U.S.),Motorola Solutions, Inc. (U.S.), Infor, Inc. (U.S.) |
|
Market Opportunities |
|
Market Definition
Healthcare asset management entails efficiently and cost-effectively managing and maintaining machinery, equipment, and physical assets. Pumps, plumbing, compressors, wheelchairs, refrigeration, generators, condensers, mobile beds, heating, ventilation, and air conditioning (HVAC), and other hospital systems are typically included. It saves time and money, increases asset utilization, locates equipment faster, keeps the right inventory on hand, and promotes employee communication.
Global Healthcare Asset Management Market Dynamics
Drivers
- Rising Prevalence of Fake Drugs will Propel the Growth Rate of Market
According to the World Health Organization (WHO), approximately 250,000 children die each year as a result of the use of forged malaria and pneumonia medications. RFIDs and other healthcare asset management systems assist ensure that pharmaceuticals entering pharmacies and hospitals are genuine. RFID tags can readily be buried into medicine labels, allowing for drug tracking throughout the supply chain.
- Increasing Demand for Better Asset Management in Hospitals
The increase in demand for better asset management in hospitals will cushion the growth rate of global healthcare asset management market. Healthcare organizations all over the world are adopting effective asset management systems and technologies as a result of mounting pressure to effectively manage their existing staff. The majority of healthcare companies spend a significant amount of their cash on hospital equipment tracking.
Opportunities
- Rising Acceptance of Asset Management Solutions in Pharmaceutical Industry
The global healthcare asset management market is being driven by the rising acceptance of asset management solutions in pharmaceutical industry. In recent years, the pharmaceutical sector has increased its radiofrequency identification (RFID) usage. In international pharmaceutical manufacture and distribution, the technology has evolved into a systematic aspect of supply chain management.
Moreover, the development of IoT based healthcare asset management and advancement in healthcare asset management device technology will provide beneficial opportunities for the healthcare asset management market growth. In addition, the increasing demand from emerging markets and technological advancements will further expand the healthcare asset management market's growth rate in the future.
- Supportive Initiatives and Awareness Programs
Supportive initiatives and awareness programs by healthcare organizations, patient advocacy groups, and government bodies contribute to the growth of the healthcare asset management market. These programs aim to increase awareness, improve access to treatment, and enhance patient outcomes.
Restraints/Challenges
- High Cost Associated with Healthcare Asset Management System
The high cost associated with healthcare asset management system will impede the healthcare asset management market's growth rate. Deploying a healthcare asset management system throughout a healthcare center is extremely costly. This is exacerbated by the pandemic, which has caused hospitals to redirect cash from other departments to treat Covid-19 patients. Due to the low priority currently assigned to this sector, scheduled RFID or RTLS system orders may be postponed or cancelled.
-
Limitations of Asset Management Systems
Limitations of asset management systems will act a major challenge for the growth rate of healthcare asset management market. The asset management systems' numerous constraints are expected to provide a challenge to demand generation. Furthermore, infrared (IR) technology can only work if the tag and the sensor have a clear line of sight. This implies that furniture, clothing, and other typical items can block the signal.
This global healthcare asset management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global healthcare asset management market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- On March 2021, the American Heart Association and the American College of Cardiology released updated guidelines recommending low-dose aspirin for certain individuals to prevent heart attack and stroke. These guidelines were published in the Journal of the American College of Cardiology
- On February, 2021, Bayer announced the initiation of the ASPREE-HF clinical trial. This trial aims to assess the potential benefits and risks of low-dose aspirin in preventing heart failure in elderly individuals without a history of cardiovascular disease
Global Healthcare Asset Management Market Scope
The global Healthcare Asset Management Market is segmented on the basis of product and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product type
- Radiofrequency Identification (RFID) Devices
- Hardware
- Passive tags
- Active tags
- Readers/Interrogators
- Antennas
- Accessories
- Software
- Services
- Real-Time Location Systems (RTLS)
- Hardware
- Tags/Badges
- Readers/Interrogators
- Software
- Services
- Ultrasound and Infrared Tags
Application
- Hospital Asset Management
- Equipment Tracking and Management
- Patient Management
- Temperature and Humidity Monitoring
- Staff Management and Infection Control
- Hand Hygiene Compliance
- Pharmaceutical Asset Management
- Drug Anti-Counterfeiting
- Supply Chain Management
Global Healthcare Asset Management Market Regional Analysis/Insights
The global healthcare asset management market is analysed and market size insights and trends are provided by country, product and application as referenced above.
The countries covered in the global healthcare asset management market report are U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the global healthcare asset management market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2023 to 2030. This is due to the availability of quality infrastructure for clinical and laboratory research in this region. In addition, rising adoption of low cost medical systems in clinical diagnostic laboratories will flourish the market's growth rate in this region.
Asia-Pacific is expected to be the fastest growing region in the global healthcare asset management market during the forecast period of 2023 to 2030, due to technological expansion of developing countries and increasing number of middle age population in this region. Rising expenditure on healthcare infrastructure and the emergence of unmet market demand will propel the market's growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The global healthcare asset management market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global healthcare asset management market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global healthcare asset management market. The data is available for historic period 2015-2020.
Competitive Landscape and Global Healthcare Asset Management Market Share Analysis
The global healthcare asset management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global healthcare asset management market.
Some of the major players operating in the global healthcare asset management market are:
- AiRISTA Flow, Inc. (U.S.)
- CenTrak Inc. (U.S.)
- Novanta Inc. (US
- Sonitor Technologies (Norway)
- STANLEY Healthcare (U.S.)
- VERSUS TECHNOLOGIES (U.S.)
- Zebra Technologies Corporation (U.S.)
- General Electric Company (U.S.)
- IBM (U.S.)
- Siemens Healthcare GmbH (Germany)
- Aeroscout Industrial (U.S.)
- Awarepoint Corporation (U.S.)
- Radianse (U.S.)
- Midmark Corporation (U.S.)
- McKesson Corporation (U.S.)
- Cerner Corporation (U.S.)
- Motorola Solutions, Inc. (U.S.)
- Infor, Inc. (U.S.)
SKU-
Get online access to the report on the World's First Market Intelligence Cloud
- Interactive Data Analysis Dashboard
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
- Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
