Portland, OR -- (SBWIRE) -- 07/20/2017 -- The hospital assets management system market helps to manage and protect hospital equipment. It uses automated software systems to monitor the environment in hospital campus.
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The technology solutions are becoming increasingly popular in the market due to rising concerns regarding security. It gives competitive edge to hospitals by positioning their premise as secure and monitored place. It also helps to comply with regulatory standards. The research assists stakeholders to identify most lucrative market segments so that appropriate business plan can be formulated.
The market growth is expected to be driven by factors such as increased need of security in hospitals and effective management with optimized expenses. The market faces limitations due to higher implementation cost. However, the market has better growth potential due to reducing equipment cost and availability of new technologies.
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From applications perspectives, the market is classified according to applications such as healthcare, pharmaceuticals and others. The market is mainly driven due to healthcare applications. However, pharmaceuticals applications are expected to contribute significantly to market growth due to recent suggestions by WTO and FDA for using RFID to ensure quality of drugs.
The research presents detailed analysis of the market using Porter's five forces model. Degree of bargaining power of consumers is expected to increase due to evolving service offered by vendors. Threat of substitutes is low/moderate, as no feasible alternative exists to the hospital asset management technology. Threat from intersegment rivalry is expected to increase due to entry of multiple strong brands in the market.
- Competitive business advantages of managing hospital assets over conventional techniques explained in the study conveys market's potential to concerned companies
- Porter's five forces analysis elaborates degree of various threats and hence, appropriate strategies can be devised
- Value chain analysis explains the role of all key intermediaries of the market and hence, appropriate forward and/or backward chain integration can be planned
- Scientific estimations are calculated to project trends for the analysis period of 2014-2020
- Additional focus is provided on trends and opportunities in various geographies, so that companies can make differentiated targeting plans to gain competitive edge