Pune, India -- (SBWIRE) -- 08/03/2018 -- The asset management & tracking system are vital components in the effective management and use of medical equipment and supplies. These systems are ideal for critical medical devices and applications. They assist in medical facilities, improves care and better control risk. Custom design services helps to create RFID tags optimized for special needs. The various application of this system are tracking surgical equipment and sponges, ensuring properly sterilization of tools before next use, auto-configuration or dosage on basis of replaceable tools or cartridges, identifying patients, new-born and personnel for audit trails and treatment and inventory of biological probes in cryogenic environments.

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Market Analysis:

The Global Healthcare Asset Management Market is expected to reach USD 37,642 million by 2025, from USD 7,500 million in 2017 growing at a CAGR of 34.6% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Major Market Competitors/Players:

- Aeroscout Industrial
- Ekahau, Inc.
- Awarepoint Corporation
- Elpas
- Radianse
- Versus Technology, Inc.
- Vizbee RFID Solutions
- Zebra Technologies Corporation
- Thingmagic
- Sonitor Technologies
- IBM Corporation
- Ekahau, Inc.
- Awarepoint Corporation
- Siemens Healthcare
- GE Healthcare
- McKesson Corporation
- Cerner Corporation
- Among others.

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Major Market Drivers and Restraints:

- Strong concerns for patient safety
- Decreasing cost of hardware and software
- Technological advancements
- Increasing use in the pharmaceutical industry
- Technical and operational issues
- Privacy and ethical concerns
- Initial investment requirements

Market Segmentation:

The global healthcare asset management market is segmented based on product, application and geographical segments.

- Based on product, the market is segmented into FID in hospitals, real-time location systems (RTLS), infrared and ultrasound tags, RFID in the pharmaceutical industry segment is further sub-segmented on the basis of hardware and software.

- On the basis of application the market is classified into hospital asset management, pharmaceuticals asset management.

Based on geography, the market report covers data points for 28 countries across multiple geographies namely

- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa

Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others. In 2017, North America is expected to dominate the market.

Key Developments in the Market:

In April 2011, Awarepoint Corporation, which is one the leading provider of real-time location system (RTLS) solutions for hospitals had acquired Patient Care Technology Systems (PCTS The combined organization, of Awarepoint's and ZigBee based technology platform with PCTS's best-in-class software platform and clinical applications will provide the industry's leading all-inclusive enterprise-wide RTLS solution. PCTS currently serves 60 hospitals, while Awarepoint is installed at 93 hospitals and manages 150,627 assets, by far the most assets under management by a single company.

In April 2016, Midmark Corporation had acquired Versus Technology, Inc. The company most-deploys real-time locating systems (RTLS) provider in healthcare, using location technology and rules-based automation tools to make health systems safer and more efficient. The combination of Midmark and Versus will create a unique offering of clinical workflow solutions. These solutions encompass clinical workflow services, RTLS technology, medical equipment, diagnostic devices and design assistance, resulting in improved efficiency within health systems.

Competitive Analysis:

The global healthcare asset management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of healthcare asset management market for global, Europe, North America, Asia Pacific and South America.

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