Market Overview:
The global surgical instrument tracking devices market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for minimally invasive surgeries, rising number of surgical procedures, and growing awareness about patient safety. In addition, the increasing adoption of barcode and RFID-based surgical instrument tracking devices is also contributing to the growth of this market. Based on type, the global surgical instrument tracking devices market can be segmented into barcode-based and RFID-based devices. The barcode-based segment is expected to account for a larger share of the global market than the RFID-based segment during the forecast period.
Product Definition:
Surgical Instrument Tracking Devices are used to track the location of surgical instruments during a surgery. This is important because it helps ensure that the correct instruments are being used at the correct time and that no instruments are left in the patient's body after surgery.
Barcode:
Barcode is a two- or three-dimensional matrix code used for the purpose of automatic identification and tracking. It can be printed, stamped or embossed on any material such as paper, plastic films, tags and labels. The International Barcode Association provides standards for barcode usage which are followed by manufacturers to ensure accurate tracking of surgical instruments across hospitals & clinics.
Radio Frequency Identification Device (RFID):
Radio frequency identification device (RFID) is a technology that involves the use of low power radio-frequency to transfer data from an RFID tag attached to an object. The tags are usually made up of thin aluminum sheets and can be applied to almost any surface. They contain integrated circuits that respond to the RF signal and transmit back information regarding their location, which can be detected by scanners or other devices.
Application Insights:
Based on application, the global surgical instrument tracking devices market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment dominated the overall market in terms of revenue in 2017. This high share is attributable to factors such as a large number of surgeries being performed every day and an increasing number of hospital-based diagnostic centers. Furthermore, an increase in healthcare spending by governments across various regions has further propelled demand for technologically advanced medical equipment that helps reduce wastage and improve efficiency.
The others segment includes clinics or outpatient surgery centers that offer limited space for storage due to which these facilities are increasingly using surgical instrument tracking systems over other types of medical equipment such as wheelchairs or gurneys. These systems help track down expensive medical devices that are used during surgeries so they can be returned to the manufacturer or sold if there is no longer a need for them at the facility where they were used during surgery.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of well-established healthcare infrastructure, high adoption rate of advanced technologies, and increasing demand for minimally invasive surgeries. Moreover, rising preference for ambulatory surgery centers as an alternative to hospitals is expected to further boost the regional growth over the forecast period.
Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to improving healthcare facilities and growing target population in this region. In addition, booming medical tourism industry due to availability of affordable treatment options is also expected contribute toward regional growth over next eight years. Europe accounted for a significant share in global surgical instrument tracking devices market on account of high prevalence of chronic diseases such as cardiovascular disorders and orthopedic conditions that require surgical interventions at regular intervals throughout life cycle (birth till old age).
Growth Factors:
- Increasing demand for minimally invasive surgeries: The global surgical instrument tracking devices market is expected to grow at a CAGR of 7.5% during the forecast period due to the increasing demand for minimally invasive surgeries. Minimally invasive surgeries are less traumatic and result in shorter hospital stays, which is driving the adoption of surgical instrument tracking devices.
- Growing geriatric population: The global geriatric population is growing at a rapid pace and this is expected to drive the growth of the surgical instrument tracking devices market during the forecast period. Elderly patients are more susceptible to complications arising from surgery, which is driving hospitals and healthcare providers towards adopting surgical instrument tracking devices for better patient safety outcomes.
- Rising incidence of chronic diseases: The incidence of chronic diseases such as cancer, heart disease, and diabetes is rising globally, which is leading to an increase in the number of surgeries performed each year. This will create opportunities for growth in the global surgical instrument tracking devices market duringthe forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Surgical Instrument Tracking Devices Market Research Report
By Type
Barcode, Radio Frequency Identification Device (RFID)
By Application
Hospitals, Ambulatory Surgical Centers, Others
By Companies
ASANUS Medizintecknik GmbH, B Braun Melsungen AG, Becton, Dickinson and Company, FingerPrint Medical Limited, Fortive Corporation, Getinge AB, Haldor Advanced Technologies, Integra LifeSciences Holdings Corporation, Murata Manufacturing Co., Ltd., NuTrace, Scanlan International, SpaTrack Medical Limited, Stanley Black and Decker, Inc., Steris, Xerafy Singapore Pte Ltd.
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
134
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Surgical Instrument Tracking Devices Market Report Segments:
The global Surgical Instrument Tracking Devices market is segmented on the basis of:
Types
Barcode, Radio Frequency Identification Device (RFID)
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
Hospitals, Ambulatory Surgical Centers, Others
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:
- ASANUS Medizintecknik GmbH
- B Braun Melsungen AG
- Becton, Dickinson and Company
- FingerPrint Medical Limited
- Fortive Corporation
- Getinge AB
- Haldor Advanced Technologies
- Integra LifeSciences Holdings Corporation
- Murata Manufacturing Co., Ltd.
- NuTrace
- Scanlan International
- SpaTrack Medical Limited
- Stanley Black and Decker, Inc.
- Steris
- Xerafy Singapore Pte Ltd.
Highlights of The Surgical Instrument Tracking Devices 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:
- Barcode
- Radio Frequency Identification Device (RFID)
- By Application:
- Hospitals
- Ambulatory Surgical Centers
- Others
- 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 Surgical Instrument Tracking Devices 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Surgical instrument tracking devices (ISTDs) are medical devices that track the movement of surgical instruments during surgery. This information can help surgeons plan and perform surgeries more accurately and safely.
Some of the major companies in the surgical instrument tracking devices market are ASANUS Medizintecknik GmbH, B Braun Melsungen AG, Becton, Dickinson and Company, FingerPrint Medical Limited, Fortive Corporation, Getinge AB, Haldor Advanced Technologies, Integra LifeSciences Holdings Corporation, Murata Manufacturing Co., Ltd., NuTrace, Scanlan International, SpaTrack Medical Limited, Stanley Black and Decker, Inc., Steris, Xerafy Singapore Pte Ltd..
The surgical instrument tracking devices market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Surgical Instrument Tracking Devices 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 Surgical Instrument Tracking Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Surgical Instrument Tracking Devices 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 Surgical Instrument Tracking Devices 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 Surgical Instrument Tracking Devices Market Size & Forecast, 2020-2028
4.5.1 Surgical Instrument Tracking Devices Market Size and Y-o-Y Growth
4.5.2 Surgical Instrument Tracking Devices Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Barcode
5.2.2 Radio Frequency Identification Device (RFID)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Ambulatory Surgical Centers
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Surgical Instrument Tracking Devices 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 Surgical Instrument Tracking Devices 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Barcode
9.6.2 Radio Frequency Identification Device (RFID)
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 Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Ambulatory Surgical Centers
9.10.3 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Barcode
10.6.2 Radio Frequency Identification Device (RFID)
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 Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Ambulatory Surgical Centers
10.10.3 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Barcode
11.6.2 Radio Frequency Identification Device (RFID)
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 Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Ambulatory Surgical Centers
11.10.3 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Barcode
12.6.2 Radio Frequency Identification Device (RFID)
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 Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Ambulatory Surgical Centers
12.10.3 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Barcode
13.6.2 Radio Frequency Identification Device (RFID)
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) Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Ambulatory Surgical Centers
13.10.3 Others
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 Surgical Instrument Tracking Devices Market: Competitive Dashboard
14.2 Global Surgical Instrument Tracking Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ASANUS Medizintecknik GmbH
14.3.2 B Braun Melsungen AG
14.3.3 Becton, Dickinson and Company
14.3.4 FingerPrint Medical Limited
14.3.5 Fortive Corporation
14.3.6 Getinge AB
14.3.7 Haldor Advanced Technologies
14.3.8 Integra LifeSciences Holdings Corporation
14.3.9 Murata Manufacturing Co., Ltd.
14.3.10 NuTrace
14.3.11 Scanlan International
14.3.12 SpaTrack Medical Limited
14.3.13 Stanley Black and Decker, Inc.
14.3.14 Steris
14.3.15 Xerafy Singapore Pte Ltd.
