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Report Scope & Overview:

The Healthcare Asset Management Market Size was valued at USD 27.28 billion in 2022, and is expected to reach USD 248 billion by 2030 and grow at a CAGR of 31.8% over the forecast period 2023-2030.

The market for healthcare asset management is anticipated to expand in the future years. The asset management industry has become sophisticated thanks to digitization. In the healthcare industry, there are now more possibilities and opportunities to improve operations and reduce costs so that people can afford treatments. Additionally, the increased use of artificial intelligence in business enables speedy analysis of activities, which is advantageous for any corporation seeking seamless and efficient operations.

Healthcare Asset Management Market Revenue 2030

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The effective administration of medical supplies and equipment in the healthcare sector depends on the healthcare asset management system. The technology aids medical facilities in raising awareness and reducing danger. Radio frequency optimization tags tailored for specific uses are made possible by custom design services. The various applications of this system include monitoring surgical tools and equipment, ensuring that instruments are properly sterile before being used on patients, and maintaining patient records. In freezing temperatures, the method is also used to treat and inventory biological research.

MARKET DYNAMICS

DRIVERS

  • Better Asset Management Needed in Hospitals

  • Adoption of Asset Management Solutions in the Pharmaceutical Industry

  • Reduced RFID Tag Price

RESTRAINTS

OPPORTUNITIES

  • Health Asset Management Powered by IoT (Io-HAM)

  • Health Asset Management Solutions Find More Use

  • Advances in technology

  • Dynamic economics

CHALLENGES

  • Security and Privacy Concerns in the Data Environment

IMPACT OF COVID-19

The global COVID-19 epidemic and the ensuing lockout have caused a persistent slowdown in the healthcare industry. Major global economies, particularly the healthcare industry, as well as local communities, were devastated by COVID-19. Leading stakeholders are still making changes to their policies in response to how quickly the environment is changing. In the long run, COVID-19 is anticipated to have a substantial effect on the healthcare industry. Countries and crucial actors would need to make significant healthcare adjustments up until the crisis passes. Healthcare reform will soon include cost containment, access expansion, and technological breakthroughs.

Digital health and telemedicine are playing a significant role as the pandemic continues. At COVID-19, it was once more emphasized how important remote diagnosis, treatment, and consultation are. Due to behavioural and legal restrictions, the growth of telehealth has slowed recently. But due to the fact that many healthcare professionals are already experimenting with video conferencing and phone calls, its acceptance is anticipated to soar over the next two years.

By Product Type

Radiofrequency identification (RFID), real-time local systems (RTLS), and ultrasound and infrared marking markets for health care asset management are divided into several categories. In all of these product categories, the health asset management market is expected to be dominated by the RFID devices category. On the other hand, RTLS is predicted to see a much larger CAGR in the proposed period due to better accuracy and precision it provides to track and monitor assets in health facilities.

Tags, readers/interrogators, antennae, and accessories make up the next section of the RFID hardware industry. The market for RFID hardware is predicted to be dominated by RFID tags. The significant market share is primarily explained by the growing acceptance of RFID in pharmaceutical firms, the falling cost of RFID tags, and the accessibility of high-tech goods on the market.

By Application

The was divided into asset management for pharmaceuticals and hospitals. According to estimates, the hospital asset management segment will be the largest. One of the main factors propelling the growth of this market is the increasing demand for hospitals to manage their assets effectively. Other important drivers include the availability of technologically improved products and the expanding application areas for asset management solutions. The market for hospital asset management is further divided into segments for tracking and managing equipment, managing patients, controlling temperature and humidity, managing employees, and monitoring infection control and hand hygiene compliance. Because hospitals need improved asset management, it is anticipated that the equipment tracking and management segment would have the greatest proportion of the hospital asset management market.

KEY MARKET SEGMENTS:

By Product Type

  • Radiofrequency Identification (RFID) Devices

  • Real-time location systems (RTLS)

By Application

  • Hospital Asset Management

  • Pharmaceutical Asset Management

Healthcare Asset Management Market Segment Pie Chart

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REGIONAL ANALYSIS

North America, followed by Europe, controls the market. The dominance of the North American market is due to factors such as rising patient safety concerns, the adoption of hospital healthcare asset management systems, the growing need to tackle counterfeit medicine, highly technologically advanced products, and the presence of large companies in the region.

REGIONAL COVERAGE

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

Major key players are AiRISTA Flow, Cen Trak, Inc, GE Healthcare, IBM Corporation, Sonitor, Thing Magic, Zebra Technologies, Stanley Healthcare, Elpas, Versus Technology, Inc., and Other Players.

IBM Corporation-Company Financial Analysis

Healthcare Asset Management Market Report Scope:

Report Attributes Details
Market Size in 2022 US$ 27.28 Billion
Market Size by 2030 US$ 248 Billion
CAGR CAGR of 31.8% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product Type (Radiofrequency Identification (RFID) Devices, Real-time location systems (RTLS))
• By Application (Hospital Asset Management, Pharmaceutical Asset Management)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles AiRISTA Flow, Cen Trak, Inc, GE Healthcare, IBM Corporation, Sonitor, Thing Magic, Zebra Technologies, Stanley Healthcare, Elpas, Versus Technology, Inc., and other players.
Key Drivers • Better Asset Management Needed in Hospitals
• Adoption of Asset Management Solutions in the Pharmaceutical Industry
• Reduced RFID Tag Price
Restraints • RFID Readers are Expensive

Frequently Asked Questions

Ans: The Healthcare Asset Management Market size is expected to reach US$ 248 billion by 2030.

Ans: The Healthcare Asset Management Market is to grow at a CAGR of 31.8% over the forecast period 2023-2030.

 The challenges faced by Healthcare Asset Management market is Security and Privacy Concerns in the Data Environment

 The market for healthcare asset management is anticipated to expand in the future years. The asset management industry has become sophisticated thanks to digitization. In the healthcare industry, there are now more possibilities and opportunities to improve operations and reduce costs so that people can afford treatments.

 In all of these product categories, the health asset management market is expected to be dominated by the RFID devices category.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

  

8. Healthcare Asset Management Market Segmentation, By Product Type

8.1 Radiofrequency Identification (RFID) Devices

8.2 Real-time location systems (RTLS)

9. Healthcare Asset Management Market Segmentation, By Application

9.1 Hospital Asset Management

9.2 Pharmaceutical Asset Management

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

11. Company Profiles

11.1 AiRISTA Flow

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Cen Trak, Inc

11.3 GE Healthcare

11.4 IBM Corporation

11.5 Sonitor

11.6 Thing Magic

11.7 Zebra Technologies

11.8 Stanley Healthcare

11.9 Elpas

11.10 Versus Technology, Inc.

12. Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share Analysis

12.3 Recent Developments

13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

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