Market Overview:
The global hospital asset management market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth in this market can be attributed to the increasing demand for real-time location systems (RTLS), radio-frequency identification (RFID), ultrasound, and infrared technology in hospitals. In addition, the growing awareness about the benefits of hospital asset management is also contributing to the growth of this market. The patient management application segment is expected to dominate the global hospital asset management market during the forecast period. This segment is expected to grow at a CAGR of 11% from 2018 to 2030.
Product Definition:
Hospital Asset Management is a process that ensures the efficient and effective use of hospital resources. The importance of Hospital Asset Management is to ensure that hospitals have the necessary resources to provide quality patient care.
Real-time Location Systems (RTLS):
Real-time Location Systems (RTLS) is a technology that helps to track and manage assets on a real-time basis. It uses radio frequency identification (RFID) tags, which are attached to the asset or person for its tracking. The RFID tag has an unique ID number that enables real- time location monitoring of the asset or person.
The major application areas of RTLS include transportation & logistics, manufacturing & production, retail inventory management, healthcare/medical facilities.
Radio-frequency Identification (RFID):
Radio-frequency identification (RFID) is a technology that involves the use of electromagnetic radio-frequency for automatic identification and tracking purposes. It uses low power from the antenna to scan and detect tags attached to an object. The tags can be read with a handheld scanner or computerized system that enables real-time asset management in hospitals, retail stores, warehouses, transportation facilities, etc.
Application Insights:
The patient management segment dominated the global hospital asset management market in 2017. The growth can be attributed to the increasing number of patients suffering from chronic diseases and injuries requiring longer hospital stays. According to a study published by NCBI, it is estimated that around 60-80% of a hospitals total budget goes into providing services to just 20% of its patients. This factor is projected to drive demand for asset management solutions over the forecast period.
The staff management segment accounted for 23% share in 2017 and is expected to grow at a significant rate during the forecast period owing to rising healthcare spending, aging population, and increasing number of medical emergencies across regions coupled with technological advancements in RFID technology will fuel industry expansion over next seven years especially in emerging countries such as China India Brazil Japan Saudi Arabia UAE etcetera (North America).
Regional Analysis:
North America dominated the global market in 2017. The growth can be attributed to various factors such as increasing healthcare expenditure, rising patient population, and growing adoption of asset management solutions by hospitals. Moreover, technological advancements in the region have led to an increase in demand for hospital automation systems. For instance, according to a study published by National Institute of Health (NIH), from 2011 to 2015 there was a rise of around 25% in the number of medical devices being introduced into U.S hospitals per year on average; with around 17% increase per year between 2011 and 2014 alone (Bauer et al., 2016).
Asia Pacific is expected to witness lucrative growth over the forecast period owing high investment opportunities present across emerging countries such as China.
Growth Factors:
- Increasing demand for quality healthcare services across the globe is expected to drive the hospital asset management market growth.
- The rising number of hospitals and increasing expenditure on healthcare are some of the other factors that are anticipated to fuel the market growth in future.
- Growing awareness about efficient hospital asset management practices is projected to create new opportunities for market players in this domain during the forecast period.
- Implementation of stringent government regulations pertaining to hospital asset management is likely to propel the demand for these solutions in forthcoming years. 5) The advent of innovative technologies such as big data and cloud-based solutions is anticipated to offer lucrative opportunities for growth in this market over the next few years
Scope Of The Report
Report Attributes
Report Details
Report Title
Hospital Asset Management Market Research Report
By Type
Real-time Location Systems (RTLS), Radio-frequency Identification (RFID), Ultrasound, Infrared
By Application
Patient Management, Staff Management, Instrument Management, Supply Chain Management
By Companies
Johnson Controls International, IBM corporation, CenTrak, Infor, Motorola solutions Inc., GE healthcare, Ekahau Inc., Siemens healthcare, Vizbee RFID systems Ltd., Sonitor technologies Inc., Midmark Rtls, Zebra technologies corporation, Trimble navigation Ltd, STANLEY Healthcare
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
216
Number of Tables & Figures
152
Customization Available
Yes, the report can be customized as per your need.
Global Hospital Asset Management Market Report Segments:
The global Hospital Asset Management market is segmented on the basis of:
Types
Real-time Location Systems (RTLS), Radio-frequency Identification (RFID), Ultrasound, Infrared
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Patient Management, Staff Management, Instrument Management, Supply Chain Management
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Johnson Controls International
- IBM corporation
- CenTrak
- Infor
- Motorola solutions Inc.
- GE healthcare
- Ekahau Inc.
- Siemens healthcare
- Vizbee RFID systems Ltd.
- Sonitor technologies Inc.
- Midmark Rtls
- Zebra technologies corporation
- Trimble navigation Ltd
- STANLEY Healthcare
Highlights of The Hospital Asset Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Real-time Location Systems (RTLS)
- Radio-frequency Identification (RFID)
- Ultrasound
- Infrared
- By Application:
- Patient Management
- Staff Management
- Instrument Management
- Supply Chain Management
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hospital Asset Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hospital asset management is a process that helps hospitals manage their assets, including real estate, equipment and other physical property. The goal of hospital asset management is to ensure that the hospital has the resources it needs to operate efficiently and meet customer needs. Hospital asset management also helps hospitals track and monitor their investments so they can make informed decisions about how to use their resources most effectively.
Some of the major companies in the hospital asset management market are Johnson Controls International, IBM corporation, CenTrak, Infor, Motorola solutions Inc., GE healthcare, Ekahau Inc., Siemens healthcare, Vizbee RFID systems Ltd., Sonitor technologies Inc., Midmark Rtls, Zebra technologies corporation, Trimble navigation Ltd, STANLEY Healthcare.
The hospital asset management market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hospital Asset Management Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Hospital Asset Management Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Hospital Asset Management Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Hospital Asset Management Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Hospital Asset Management Market Size & Forecast, 2018-2028 4.5.1 Hospital Asset Management Market Size and Y-o-Y Growth 4.5.2 Hospital Asset Management Market Absolute $ Opportunity
Chapter 5 Global Hospital Asset Management Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Hospital Asset Management Market Size Forecast by Type
5.2.1 Real-time Location Systems (RTLS)
5.2.2 Radio-frequency Identification (RFID)
5.2.3 Ultrasound
5.2.4 Infrared
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hospital Asset Management Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Hospital Asset Management Market Size Forecast by Applications
6.2.1 Patient Management
6.2.2 Staff Management
6.2.3 Instrument Management
6.2.4 Supply Chain Management
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hospital Asset Management Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hospital Asset Management Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Hospital Asset Management Analysis and Forecast
9.1 Introduction
9.2 North America Hospital Asset Management Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Hospital Asset Management Market Size Forecast by Type
9.6.1 Real-time Location Systems (RTLS)
9.6.2 Radio-frequency Identification (RFID)
9.6.3 Ultrasound
9.6.4 Infrared
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Hospital Asset Management Market Size Forecast by Applications
9.10.1 Patient Management
9.10.2 Staff Management
9.10.3 Instrument Management
9.10.4 Supply Chain Management
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Hospital Asset Management Analysis and Forecast
10.1 Introduction
10.2 Europe Hospital Asset Management Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Hospital Asset Management Market Size Forecast by Type
10.6.1 Real-time Location Systems (RTLS)
10.6.2 Radio-frequency Identification (RFID)
10.6.3 Ultrasound
10.6.4 Infrared
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Hospital Asset Management Market Size Forecast by Applications
10.10.1 Patient Management
10.10.2 Staff Management
10.10.3 Instrument Management
10.10.4 Supply Chain Management
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Hospital Asset Management Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hospital Asset Management Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Hospital Asset Management Market Size Forecast by Type
11.6.1 Real-time Location Systems (RTLS)
11.6.2 Radio-frequency Identification (RFID)
11.6.3 Ultrasound
11.6.4 Infrared
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Hospital Asset Management Market Size Forecast by Applications
11.10.1 Patient Management
11.10.2 Staff Management
11.10.3 Instrument Management
11.10.4 Supply Chain Management
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Hospital Asset Management Analysis and Forecast
12.1 Introduction
12.2 Latin America Hospital Asset Management Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Hospital Asset Management Market Size Forecast by Type
12.6.1 Real-time Location Systems (RTLS)
12.6.2 Radio-frequency Identification (RFID)
12.6.3 Ultrasound
12.6.4 Infrared
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Hospital Asset Management Market Size Forecast by Applications
12.10.1 Patient Management
12.10.2 Staff Management
12.10.3 Instrument Management
12.10.4 Supply Chain Management
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Hospital Asset Management Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hospital Asset Management Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Hospital Asset Management Market Size Forecast by Type
13.6.1 Real-time Location Systems (RTLS)
13.6.2 Radio-frequency Identification (RFID)
13.6.3 Ultrasound
13.6.4 Infrared
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Hospital Asset Management Market Size Forecast by Applications
13.10.1 Patient Management
13.10.2 Staff Management
13.10.3 Instrument Management
13.10.4 Supply Chain Management
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hospital Asset Management Market: Competitive Dashboard
14.2 Global Hospital Asset Management Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Johnson Controls International
14.3.2 IBM corporation
14.3.3 CenTrak
14.3.4 Infor
14.3.5 Motorola solutions Inc.
14.3.6 GE healthcare
14.3.7 Ekahau Inc.
14.3.8 Siemens healthcare
14.3.9 Vizbee RFID systems Ltd.
14.3.10 Sonitor technologies Inc.
14.3.11 Midmark Rtls
14.3.12 Zebra technologies corporation
14.3.13 Trimble navigation Ltd
14.3.14 STANLEY Healthcare