Surgical Instrument Tracking Systems Market Price, Industry Outlook, Classification and Forecast 2026
Surgical Instrument Tracking Systems Market Overview:
The Surgical Instrument Tracking Systems Market is expected to grow at a CAGR of 14.9 percent from an estimated USD 203 million in 2021 to USD 406 million by 2026. Because of the need to cut costs and improve efficiency, tracking systems are becoming more popular among healthcare providers. This goal will be aided by stronger inventory and asset management methods. End users are concerned with preventing the loss of important assets and ensuring that workflows go smoothly.
The FDA's Unique Device Identification regulations, as well as the growth of the surgical tools market, are driving market growth. High system costs, extended investment cycles, budgetary constraints, and technology limits, on the other hand, are projected to hinder market expansion. In addition, because to the COVID-19 pandemic, growth slowed slightly in the first quarter of 2021. Surgical tool tracking systems and consumables were used less frequently when elective and non-elective procedures were postponed, delayed, or cancelled around the world.
Download PDF: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=211153029
The surgical instrument tracking systems market is expected to grow at a CAGR of 14.9 percent from an estimated USD 203 million in 2021 to USD 406 million by 2026. Because of the need to cut costs and improve efficiency, tracking systems are becoming more popular among healthcare providers. This goal will be aided by stronger inventory and asset management methods. End users are concerned with preventing the loss of important assets and ensuring that workflows go smoothly.
The Hospitals segment accounted for the largest market share in 2020.
Based on end users, the surgical instrument tracking systems market is segmented into hospitals and other end users. The hospitals segment accounted for a larger share of the surgical instrument tracking systems market in 2020. Growth in the hospitals end-user segment can be attributed to their high patient inflow compared to other end users in the market. Hospitals also use more equipment and instruments on average than other healthcare providers and conduct a greater number of surgical procedures. This has ensured a sustained demand for tracking solutions in hospitals.
Request For Sample: https://www.marketsandmarkets.com/requestsampleNew.asp?id=211153029
Key Market Players
Some of the prominent players in the surgical instrument tracking systems market are Fortive Corporation (US), Material Management Microsystems (US), Becton, Dickinson and Company (BD) (US), Haldor Advanced Technologies (US), Getinge AB (Sweden), STERIS (US), STANLEY Healthcare (US), Mobile Aspects (US), Integra LifeSciences Holdings Corporation (US), Xerafy (Singapore), B. Braun Melsungen AG (Germany), SpaTrack Medical Limited (UK), Scanlan International, Inc. (US), Case Medical (US), ASANUS Medizintechnik GmbH (Germany), Keir Surgical Ltd. (Canada), TechnoSource Australia Pty Ltd. (Australia), NuTrace (US), Vizinex RFID (US), ScanCARE Pty Ltd. (US), RFID Discovery (UK), Healthtech Pivot LLP (India), RMS Omega Healthcare (US), Avery Dennison Corporation (US), and Surgical Safety Scanner (US).
Detailed Information: https://www.marketsandmarkets.com/Market-Reports/surgical-instrument-tracking-system-market-211153029.html
The Barcode segment accounted for the largest market share in 2020.
Based on technology, the surgical instrument tracking systems market is segmented into barcode and RFID. The barcode segment accounted for a larger market share in 2020. The low installation cost of barcodes has resulted in their increased adoption in the surgical instrument tracking systems market.
The Software segment accounted for the largest market share in 2020.
Based on components, the surgical instrument tracking systems market is segmented into software, hardware, and services. The software segment accounted for the largest market share in 2020. However, the hardware segment is expected to witness the highest growth 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.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model — GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1–888–600–6441
sales@marketsandmarkets.com