Global Surgical Instrument Tracking System Market Size study, by Technology (Barcode and Radiofrequency Identification (RFID)), By Component (Software, Hardware and Services), By End User (Hospitals and Other End Users) and Regional Forecasts 2019-2026

Global Surgical Instrument Tracking System Market is valued approximately USD 140.6 million in 2018 and is anticipated to grow with a healthy growth rate of more than 14.5% over the forecast period 2019-2026. Surgical Instrument Tracking System are used in healthcare. It was used to manage the instrument count sheet and for some basic traceability of instrument. However, introduction of 2D barcodes has introduced the technology of processing staff members to identify instruments and look after the history of each instrument’s use. This helps staff to determine the repair or replacement of instrument if needed. 

Another tracking technology is RFID that helps to identify and track the device in the medical facility. Due to insufficient supply chain management that leads to misplaced or lost of hospital supplies, devices, or uneven equipment flow. The surgical instrument tracking system would decrease this loss for hospitals and help them to track their equipment which enable the growth of the market over the forecast period of 2019-2026. Factors such as adoption of innovative technologies to track equipment and systems and requirement for better inventory and asset management practices is increasing the demand of the market.

The regional analysis of global Surgical Instrument Tracking System Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the strongest economies and widespread industries, which create high capital investment capabilities. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as growing population, high disposable income, Unique Device Identification (UDI) regulations by FDA and need to cut down the healthcare expenditure would create lucrative growth prospects for the Surgical Instrument Tracking System Market across North American region.

Major market player included in this report are:
Censis Technologies, Inc.
Material Management Microsystems (Microsystems, Inc)
Becton, Dickinson and Company
Haldor Advanced Technologies Ltd.
Intelligent Insites, Inc
Key Surgical, Inc.
Mobile Aspects
TGX Medical Systems
Xerafy Spx Flow Inc.
STANLEY Healthcare

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
Barcode
Radiofrequency Identification (RFID)

By Component:
Software
Hardware
Services

By End User:
Hospitals
Other End Users

By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016,2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Surgical Instrument Tracking System Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors