Global Hospital Asset Management Market Outlook 2021: Global Opportunity and Demand Analysis, Market Forecast, 2022-2030

The hospital asset management market is expected to witness lucrative growth during the forecast period owing to the increasing issues in supply chain management along with increasing incidences of drug counterfeiting. Growing acceptance of asset management techniques due to a reduction in the cost of software and hardware is expected to drive this market through to 2028. The hospital asset management market is expected to reach USD 35.19 billion by 2028, up from USD 6.89 billion in 2019, at a CAGR of 31.5%. The base year considered for the study is 2017 and the forecast period is from 2019 to 2028.
Top Driver: The Need for Better Asset Management in Hospitals
Growing pressure to better manage their existing workforce has compelled healthcare organizations across the world to adopt effective asset management solutions and technologies. Most healthcare organizations spend an outsized portion of their budget on tracking hospital equipment. For example, it was reported that about USD 6 million worth of state-owned hospital equipment was found to be missing in Louisiana State University (LSU) hospitals; newly purchased equipment from the hospital was also not properly tracked. Thus, wastage of time in searching for lost assets and poor asset management practices can lead to serious consequences. According to a recent survey conducted by the Nursing Times, more than one-third of nurses spend at least an hour locating equipment during an average hospital shift. This not only impacts budgets but also compromises the quality of patient care provided.

The use of radio frequency identification (RFID) in the pharmaceutical industry has grown in recent years. Technology has emerged to become a systematic part of supply chain management in international pharmaceutical production and distribution. Drug counterfeiting is a significant threat to healthcare systems across the globe. Over the years, the number of new cases of drug counterfeiting has grown significantly. This can primarily be attributed to the Internet-based sales of pharmaceuticals.
Radiofrequency Identification to Make a Crucial Contribution to the Growth of Global Hospital Asset Management
The hospital asset management market is segmented on the basis of pharmaceutical and healthcare products and applications. The healthcare products offered in the market are Wi-Fi-based real-time location systems (RTLS), radio frequency identification (RFID), infrared, and ultrasound tags. The radiofrequency identification segment of the asset management market accounted for the largest market share due to its technological advancement from locating patients, assets, and medicine error prevention to drug anti-counterfeiting, theft prevention, drug trial compliance, and price control, as well as increasing healthcare applications such as tracing and tracking of consumable medicines, visitor alarms, and locating staff.
However, Wi-Fi-based real-time location systems (RTLS) in the healthcare segment are expected to witness significant growth in demand in the next seven years due to the increasing adoption of RTLS as a result of its increasing application within the healthcare sector and the declining cost of hardware. The pharmaceutical product available on the market is frequency identification technology (RTLS). Radiofrequency identification technology (RTLS) tags both in pharmaceuticals and healthcare and is predicted to play a prominent role in the growth of the hospital asset management market thanks to its increasing demand and applications for an efficient workflow.

On the basis of applications, the hospital asset management market is split into four segments: humidity control, staff management, patient management, and temperature and equipment management. Asset management in the pharmaceutical vertical finds applications in areas like supply chain and drug counterfeiting. An increasing number of complex equipment in modern-day hospitals requires highly specialized and efficient asset management systems and increasing investment by governments and private organizations in implementing RFID technology, as organizations like the World Health Organization and FDA suggest the utilization of RFID in enhancing the standard of the supply chain so as to eliminate fake drugs within the global market, which are factors which are expected to drive the demand for hospital asset management.
North America is dominated by witnessing the fastest growth in Global Hospital Asset Management.
North America accounted for the largest market share owing to the increasing quality of infrastructure for clinical and laboratory research and the increasing adoption of low-cost medical systems in clinical diagnostic laboratories. The Asia-Pacific region is expected to grow at a significant rate during the forecast period owing to the technological development of emerging economies such as China and India. This expected growth is attributed to the increasing median age of the population, increasing government and corporate investment to standardize the biopharmaceutical and healthcare sectors, and the presence of unmet market demand. Furthermore, the increasing number of diagnostic laboratories in the region, a number of investment opportunities in these immature markets, and increasing awareness and rising demand for efficient and effective supply chain management are also expected to drive demand in the cell line development market.
Hospital Asset Management: Players to Focus on
The competition within the market is high as a large share of the market lies with the main market players. Innovation within the market requires the developers to possess a far better understanding of the method to deliver an appropriate solution, and it also drives close collaboration among the healthcare stakeholders during development and customization to suit the end users needs.
Kathrein Solutions GmbH, Feb. 2019, Kathrein Solutions GmbH, specializing in RFID solutions, introduced the new RTLS system K-RLTS that combines high localization accuracy in an industrial environment with unique technical features that allow a broad application of the system in various applications.
TriMedx: September 2018-TRIMEDX announced that it planned to accumulate Aramarks hospital technology business. Aramark HCT provides healthcare technology services, starting from repair and maintenance to outsourcing of clinical engineering services, to almost 500 healthcare providers nationwide. The acquisition of Aramark HCT allows TRIMEDX to deliver its proprietary technology-driven solutions to a broader set of healthcare provider customers.

Scope of the Report

By Product Type
RFID (Active, Passive)
RTLS
Ultrasound
Infrared

By Application
humidity control
staff management
patient management

By Region
North America
Europe
Asia Pacific
Rest Of World


Key Reasons to Purchase this Report
1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders a definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.

Chapter 1 Overview And Scope
1.1 Market Vision
1.1.1 Market Definition
1.1.2 Market Scope
1.2 Market Segmentation

Chapter 2 Our Research Practice
2.1 Our Research Methodology
2.2 Data Triangulation
2.3 Data Sources
2.4 Assumptions for the study
2.5 Approach Adopted

Chapter 3 Executive Summary
3.1 Market Snapshot
3.2 Regional Snapshot
3.3 Segment Summary

Chapter 4 Covid-19 Impact Analysis
4.1 Overview
4.2 Prevalence analysis
4.3 Key Factor Impact Analysis

Chapter 5 Global Hospital Asset Management Market Forces
5.1 Whats Driving the Market
5.2 Porters Five Forces Analysis
5.2.1 Power of Suppliers
5.2.2 Threats From New Entrants
5.2.3 Power of Buyer
5.2.4 Threat From Substitute Product
5.2.5 Degree of Competition

Chapter 6 Global Hospital Asset Management Market -Industry Snapshots
6.1 Overview
6.1.1 Global Hospital Asset Management Market Value, 2019 - 2028, (US$ Bn)
6.2 Market Overview
6.2.1 Drivers Analysis
6.2.2 Restraint/Challenges analysis
6.2.3 Opportunity Analysis
6.3 Supply Chain/Value Chain Analysis
6.4 Market SWOT Analysis

Chapter 7 Global Hospital Asset Management Market Analysis, by Application
7.1 Overview
7.2 Key Findings for Hospital Asset Management Market- By Application
7.2.1 Hospital Asset Management Market- humidity control
7.2.2 Hospital Asset Management Market- staff management
Hospital Asset Management market by Application 2, 2019 - 2028 (USD Million)
7.2.3 Hospital Asset Management Market- patient management

Chapter 8 Global Hospital Asset Management Market Analysis, by Product Type
8.1 Overview
8.2 Key Findings for Hospital Asset Management Market- By Product Type
8.2.1 Hospital Asset Management Market- RFID (Active, Passive)
8.2.2 Hospital Asset Management Market- RTLS
Hospital Asset Management market by Product Type 2, 2019 - 2028 (USD Million)
8.2.3 Hospital Asset Management Market- Ultrasound
8.2.4 Hospital Asset Management Market- Infrared
Hospital Asset Management market by Product Type 4, 2019 - 2028 (USD Million)

Chapter 9 Hospital Asset Management Market Analysis by Region
9.1 Key Findings for Hospital Asset Management Market- By region
9.2 Overview
9.2.1 Global Hospital Asset Management Market Analysis, By Type, 2019 - 2028
9.2.2 Global Hospital Asset Management Market Analysis, By Product Type, 2019 - 2028
9.3 Hospital Asset Management Market North America
9.3.1 Overview
9.3.2 U.S.
9.3.3 Canada
9.3.4 Mexico
9.3.5 North America Market, By Type
9.3.6 North America Market, By Product Type
9.4 Hospital Asset Management Market Europe
9.4.1 Overview
9.4.2 Germany
9.4.3 United Kingdom
9.4.4 France
9.4.5 Italy
9.4.6 Rest Of Europe
9.4.7 Europe Market, By Type
9.4.8 Europe Market, By Product Type
9.5 Hospital Asset Management Market Asia Pacific
9.5.1 Overview
9.5.2 China
9.5.3 Japan
9.5.4 India
9.5.5 Rest of APAC
9.5.6 Asia Pacific Market, By Type
9.5.7 Asia Pacific Market, By Product Type
9.6 Hospital Asset Management Market Rest Of World
9.6.1 Overview
9.6.2 Middle East & Africa (MEA)
9.6.3 South America
9.6.4 Rest Of World
9.6.5 South America, Middle East and Africa Market, By Type
9.6.6 South America, Middle East and Africa Market, By Product Type

Chapter 10 Market Competition Analysis
10.1 Market Share/Positioning Analysis
10.1.1 Market Positioning of Key Vendors, 2019
10.1.2 Key Strategies Adopted by the Leading Players
10.1.3 Recent Developments

Chapter 11 Company Profiles- Snapshot
11.1 IBM Corporation (US).
11.1.1 Business Fundamentals
11.1.2 Financial Snapshots
11.1.3 Product Portfolio
11.1.4 Recent Developments
11.2 AiRISTA Flow (US),
11.3 Elpas (US),
11.4 CenTrak, Inc.(US),
11.5 ThingMagic [A Novanta Company (US)],
11.6 Sonitor (Norway),
11.7 Stanley Healthcare (US),
11.8 Versus Technology, Inc. (US),
11.9 Zebra Technologies (US),
11.10 GE Healthcare (US),
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies

Chapter 12 Appendix

List Of Tables

TABLE 1 Hospital Asset Management market by Application 1, 2019 - 2028 (USD Million)
TABLE 2 Hospital Asset Management market by Application 3, 2019 - 2028 (USD Million)
TABLE 3 Hospital Asset Management market by Product Type 1, 2019 - 2028 (USD Million)
TABLE 4 Hospital Asset Management market by Product Type 3, 2019 - 2028 (USD Million)
TABLE 5 Global Hospital Asset Management Market Value, By Type, 2019 - 2028 (US$ Bn)
TABLE 6 Global Hospital Asset Management Market Value, By Product Type, 2019 - 2028 (US$ Bn)
TABLE 7 Hospital Asset Management Market Analysis by North America (USD Million), 2019 - 2028
TABLE 8 U.S. Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 9 U.S. Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 10 U.S. Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 11 Canada Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 12 Canada Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 13 Canada Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 14 Mexico Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 15 Mexico Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 16 Mexico Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 17 Hospital Asset Management Market Analysis by Europe (USD Million), 2019 - 2028
TABLE 18 Germany Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 19 Germany Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 20 Germany Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 21 United Kingdom Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 22 United Kingdom Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 23 United Kingdom Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 24 France Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 25 France Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 26 France Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 27 Italy Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 28 Italy Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 29 Italy Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 30 Rest Of Europe Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 31 Rest Of Europe Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 32 Rest Of Europe Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 33 Hospital Asset Management Market Analysis by Asia Pacific (USD Million), 2019 - 2028
TABLE 34 China Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 35 China Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 36 China Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 37 Japan Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 38 Japan Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 39 Japan Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 40 India Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 41 India Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 42 India Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 43 Rest of APAC Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 44 Rest of APAC Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 45 Rest of APAC Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 46 Hospital Asset Management Market Analysis by Rest Of World (USD Million), 2019 - 2028
TABLE 47 Middle East & Africa (MEA) Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 48 Middle East & Africa (MEA) Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 49 Middle East & Africa (MEA) Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 50 South America Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 51 South America Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 52 South America Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
TABLE 53 Rest Of World Hospital Asset Management Market, 2019 - 2028 (USD Million)
TABLE 54 Rest Of World Hospital Asset Management Market, By Type, 2019 - 2028 (USD Million)
TABLE 55 Rest Of World Hospital Asset Management Market, By Product Type, 2019 - 2028 (USD Million)
Chapter 1

List Of Figures

FIG. 1 Global Hospital Asset Management: Market Segmentation
FIG. 2 Global Hospital Asset Management Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Market Snapshot
FIG. 5 Porters Five Forces Analysis
FIG. 6 Global Hospital Asset Management Market Value, 2019 - 2028, (US$ Bn)
FIG. 7 Supply Chain/Value Chain Analysis
FIG. 8 Global Hospital Asset Management Market Value Contribution, By Type, 2019 & 2026 (%)
FIG. 9 Global Hospital Asset Management Market Value Contribution, By Product Type, 2019 & 2026 (%)
FIG. 10 Global Hospital Asset Management Market Value, 2019 - 2028, (US$ Bn)
FIG. 11 North America Hospital Asset Management Market Value, 2019 - 2028, (US$ Bn)
FIG. 12 Hospital Asset Management Market Segment 1 North America
FIG. 13 Hospital Asset Management Market Segment 2 North America
FIG. 14 Hospital Asset Management U.S. outlook, 2019 & 2026
FIG. 15 Hospital Asset Management Canada outlook, 2019 & 2026
FIG. 16 Hospital Asset Management Mexico outlook, 2019 & 2026
FIG. 17 Europe Hospital Asset Management Market Value, 2019 - 2028, (US$ Bn)
FIG. 18 Hospital Asset Management Market Segment 1 Europe
FIG. 19 Hospital Asset Management Market Segment 2 Europe
FIG. 20 Hospital Asset Management Germany outlook, 2019 & 2026
FIG. 21 Hospital Asset Management United Kingdom outlook, 2019 & 2026
FIG. 22 Hospital Asset Management France outlook, 2019 & 2026
FIG. 23 Hospital Asset Management Italy outlook, 2019 & 2026
FIG. 24 Hospital Asset Management Rest Of Europe outlook, 2019 & 2026
FIG. 25 Asia Pacific Hospital Asset Management Market Value, 2019 - 2028, (US$ Bn)
FIG. 26 Hospital Asset Management Market Segment 1 Asia Pacific
FIG. 27 Hospital Asset Management Market Segment 2 Asia Pacific
FIG. 28 Hospital Asset Management China outlook, 2019 & 2026
FIG. 29 Hospital Asset Management Japan outlook, 2019 & 2026
FIG. 30 Hospital Asset Management India outlook, 2019 & 2026
FIG. 31 Hospital Asset Management Rest of APAC outlook, 2019 & 2026
FIG. 32 Rest Of World Hospital Asset Management Market Value, 2019 - 2028, (US$ Bn)
FIG. 33 Hospital Asset Management Market Segment 1 Rest Of World
FIG. 34 Hospital Asset Management Market Segment 2 Rest Of World
FIG. 35 Hospital Asset Management Middle East & Africa (MEA) outlook, 2019 & 2026
FIG. 36 Hospital Asset Management South America outlook, 2019 & 2026
FIG. 37 Hospital Asset Management Rest Of World outlook, 2019 & 2026

Companies Mentioned

Airista Flow (U.S.)
Elpas Ltd (U.K.)
GE Healthcare (A General Electric Company) (U.S.)
CenTrak (U.S.)
IBM Corporation (U.S.)
Intelligent Insites Inc. (U.S.)
Thingmagic (A Novanta Company) (U.S.)
Sonitor Technologies AS (U.S.)
Stanley Black & Decker Inc. (U.S.)
Versus Technology (A Midmark Company) (U.S.)

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