Global Hospital Asset Management Market Is Expected To Reach Around USD 420.59 Billion By 2032

Zion Market Research has published a new report titled “Hospital Asset Management Market By Product (Real-Time Location Systems, Radio-Frequency Identification, Ultrasound, and Infrared), By Application (Patient Management, Staff Management, Instrument Management, and Supply Chain Management), By End-User (Hospitals and Clinics, Pharmaceutical Companies, Biotechnology Companies, and Others), And By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 - 2032”. According to the report, the global hospital asset management market size was valued at approximately USD 44.03 billion in 2023 and is predicted to reach around USD 420.59 billion by the end of 2032, expanding at a CAGR of around 28.5% from 2024 to 2032.

Hospital asset management refers to managing a hospital’s machinery and equipment and tracking assets like mobile beds and wheelchairs, which are used across departments or hospital floors. It also helps in the management and protection of hospital equipment, to manage the machinery and equipment; it uses automated software systems to monitor the hospital campus environment. The global hospital asset management market is expanding rapidly, due to the improvement and optimization of workflow, productivity, safety, reduction in stock, and higher returns on investment. Furthermore, the increasing demand for security in hospitals and effective management with optimized expenses, decreasing prices of RFID, rising number of strict regulatory requirements as a good quality practice, and flourishing pharmaceutical, medical device, and biopharmaceutical industries are also driving this market. Moreover, the growing adoption of asset management solutions by healthcare service providers also contributes to the growth of the global healthcare asset management market. However, the high costs of RFID tags and even higher implementation costs may hamper the global hospital asset management market in the future.

Browse the full “Hospital Asset Management Market By Product (Real-Time Location Systems, Radio-Frequency Identification, Ultrasound, and Infrared), By Application (Patient Management, Staff Management, Instrument Management, and Supply Chain Management), By End-User (Hospitals and Clinics, Pharmaceutical Companies, Biotechnology Companies, and Others), And By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 - 2032” Report at https://www.zionmarketresearch.com/report/hospital-asset-management-market

The global hospital asset management market is fragmented on the basis of product, application, and end-user. Based on the product, the market is classified into radio-frequency identification devices (RFID), real-time location systems (RTLS), infrared, and ultrasound. The RFID segment is expected to hold the largest share in the global hospital asset management market, due to the increasing use of RFID devices by biopharmaceutical and pharmaceutical sectors to manage the supply chain system effectively.

Based on application, the market includes patient management, supply chain management, staff management, and instrument management. The instrument management segment is expected to grow significantly over the estimated time period, due to the rising adoption of technologically advanced products and increasing awareness about the installation of asset-tracking solutions for equipment handling and hospital management.

Based on end-users, the market includes hospitals and clinics, pharmaceutical companies, biotechnology companies, and others. Hospitals and clinics are likely to contribute to the largest market share over the forecast time period.

By geography, North America dominated the global hospital asset management market in 2023, due to the established IT infrastructure, raising concerns about patient safety, and technological advancements related to RFID and RLTS. The Asia Pacific hospital asset management market is being driven by the developing countries like India and China that are experiencing rapid digitalization in the healthcare sector due to constant support from government and growing demand for better healthcare.

Some major participants of the global hospital asset management market are Awarepoint Corporation, GE Healthcare, Ascom, Honeywell International, CenTrak, Ekahau, STANLEY Healthcare, Sonitor, Zebra Technology, ZIH Corporation, and IBM.

This report segments the global hospital asset management market into:

Global Hospital Asset Management Market: By Product

• Radio Frequency Identification Devices (RFID)
• Real-Time Location Systems (RTLS)
• Ultrasound
• Infrared

Global Hospital Asset Management Market: By Application

• Patient Management
• Staff Management
• Instrument Management
• Supply Chain Management

Global Hospital Asset Management Market: By End-User

• Hospitals and Clinics
• Pharmaceutical Companies
• Biotechnology Companies
• Others (Laboratories, Cosmetic Industry, Medical Devices Companies, etc.)

Global Hospital Asset Management Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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