New York, NY -- (SBWIRE) -- 10/07/2020 -- The global real-time location systems for healthcare market is estimated to account for over US$ 1.35 billion in 2019. It is anticipated to grow at a healthy CAGR of 17.5% from 2019 to 2030. The global real-time location systems for healthcare market is driven primarily by factors such as rising demand for real-time location systems and security concerns in healthcare facilities. Moreover, use of IoT in healthcare facilities help in better utilization of resources.

Real-time location systems are used in healthcare facilities to track patients and staff with help of sequential images. Also, the system being capable of collecting real-time data about locations & status of personnel and patients. This helps the caretaker of facility to react to emergency situations. For instance, RTLS helps in tracking whether the members are complying with the rules & regulations pertaining to sterilization and hygiene. It also helps in minimizing the risks of nosocomial infections.

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Real-Time Location System for Healthcare Market Prominent Players

The prominent players in the global real-time location system for healthcare market include STANLEY Healthcare, Zebra Technologies Corporation, Aruba Networks, IMPINJ, TeleTracking Technologies, CenTrak, AiRISTA Flow, Sonitor Technologies, Versus Technology, and Identec Group among others.

Growing Factors:

Real-time location systems are parts of IoT devices used in healthcare facilities that help in capturing real-time information from remote locations. There have been various wall-penetrating technologies such as Wi-Fi, Bluetooth Low Energy and various others that are used in IoT solutions. These help in sending & receiving signals across walls; for instance, Wi-Fi sensors can communicate with monitor unit that is located a few feet away and tracks temperature.

For instance, in 2019, Wake Forest Baptist Medical Center deployed RTLS system with infinite loop deployed across whole healthcare facility, which resulted in major savings for them as the following:

1.In terms of asset management, medical center has saved US$ 3.5 Million by avoiding equipment purchases and reducing rental expenses due to increased assets visibility and process changes that have allowed staff to distribute assets effectively.
2.In terms of enhanced patients' experience, real-time location systems have impacted patients' experience and staff efficiency. RTLS is also being used to check location of patients and staff. It is also helping medical centers to reduce the waiting time of patients by approximately 50%.

Segmentation Based On:

By Offering –

1.Hardware,
2.Software,
3.Services

By Technology –

1.Ultra-Wideband Technology,
2.Bluetooth Low Energy,
3.Wi-Fi, Others

By Application –

1.Inventory & asset tracking and management,
2.Staff locating & monitoring,
3.Access control,
4.Supply chain management

By Facility Type –

1.Hospitals and Healthcare Facilities,
2.Senior Living Facilities

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Regional Analysis:

North America is expected to dominate the real-time location systems for healthcare market owing to factors such as adoption of the technology by several hospitals in the U.S. for safe & effective communications and presence of various market players in region. The U.S. represents one of the largest markets of healthcare sector followed by Canada.

Asia Pacific is estimated to account for highest CAGR in real-time location systems for healthcare market over the forecast period 2019 to 2030, owing to advancements in healthcare facilities in developing countries such as China, India, and others.

Table of Contents

1.INTRODUCTION
1.Market Definition
2.Market Classification
3.Geographic Scope
4.Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecasted Years – 2019 to 2030
5.Currency Used

2.RESEARCH METHODOLOGY
1.Research Framework
2.Data Collection Technique
3.Data Sources
1.Secondary Sources
2.Primary Sources
4.Market Estimation Methodology
1.Bottom Up Approach
2.Top Down Approach
5.Data Validation and Triangulation
1.Market Forecasting Model
2.Limitations/Assumptions of the Study

3.ABSTRACT OF THE STUDY

4.MARKET DYNAMICS ASSESMENT
1.Overview
2.Drivers
3.Barriers/Challenges
4.Opportunities

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In the end, Real-time Location Systems for Healthcare Market industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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