Global Healthcare Asset Management Market Worth $29,602 Million USD by 2020, #HealthIT a key growth driver 

Global Healthcare Asset Management Market Worth $29,602 Million USD by 2020, #HealthIT a key growth driver 


According to a new market research report, the Global Healthcare Asset Management Market is expected to reach around 29,602 Million USD by 2020, a CAGR of 34.6% from 2015 to 2020. The report studies the global healthcare asset management market over the forecast period of 2015 to 2020.

What is Healthcare Asset Management?

Healthcare asset management is segmented on the basis of products, applications, and regions. But how does healthcare asset management work in a hospital setting, to, for instance, integrate and improve patient-centered care? Here’s one scenario: a patient arrives at a hospital’s emergency room; registers and receives a sensor (RFID) tag. When attended to by hospital staff, a patient-seen record is created on the hospital’s database  The patient sees a physician and is admitted. Available resources to support this patient are displayed to a nurse in the admitting unit, who quickly and easily identifies the location of required equipment to care for this patient. While the nurse accesses the needed medical equipment, one of the IV pumps is flagged as “dirty,” ready for cleaning, which prompts the nurse to choose a “clean” IV pump in its place. As hospital staff attend to the patient, hand-washing compliance is automatically recorded. Medications administered to the patient are validated against patient records, and restocking is automated. A hospital must work as a well-choreographed dance to ensure quality patient care — and healthcare asset management is the tool to orchestrate and coordinate equipment, compliance efforts, technology assets and facilities.

Global Healthcare Asset Management Market Segments

Based on applications, the healthcare asset management market is segmented into hospitals and pharmaceuticals. The hospitals market is subsegmented into equipment management, staff management, patient management, and temperature and humidity monitoring. On the basis of application, the pharmaceuticals market is segmented into anti-drug counterfeiting and supply chain management. Healthcare asset management solutions offer various benefits to hospitals and help in improving patient care and satisfaction. These solutions help increase equipment availability; enhance equipment utilization; reduce operating and maintenance costs; lower time and cost for compliance reporting; and improve maintenance, support, and allocation. In the pharmaceuticals market, RFID technology is primarily used to tackle drug counterfeiting, address supply chain bottlenecks, and improve clinical trial data documentation. It is of utmost importance for pharmaceutical companies to ensure that the drugs that move across the supply chain are genuine and not adulterated or counterfeited. This is important to ensure the safety of patients.

RFID + RTLS Growth

Based on products, the market is further categorized into RFID components, RTLS, and infrared and ultrasound. The RFID segment includes active and passive tags, readers, and antennas as subcomponents. The RFID and RTLS segments are expected to account for the largest shares of the market by 2020, accounting for CAGRs of 32.9% and 48.8%, respectively. By tagging drugs with RFID tags, they can be monitored throughout the supply chain. This helps in detecting adulteration at any stage of the supply chain. Most manufacturers prefer high-frequency RFID instead of the lesser expensive ultra-high-frequency RFID due to the small size at which they can be manufactured.

Trends and Drivers: Healthcare Asset Management

The demand for healthcare asset management products in the near future is set to rise due to increasing concerns for patient safety, decreasing cost of hardware and software, technological advancements, increasing use in the pharmaceutical industry, and increasing use in hospitals to enhance staff productivity. However, factors such as technical and operational challenges, initial investment requirements, and privacy and ethical concerns hinder the growth of the market.

Key Players: Healthcare Asset Management Market

The Healthcare Asset Management Market is a fragmented market with many players operating in the industry. However, there are a few companies that have occupied a significant share of the market. The major players in the global healthcare asset management market include Aeroscout, Inc. (U.S.), Awarepoint Corporation (U.S.), Ekahau (U.S.), Elpas (Israel), Infor (U.S.), Motorola Solutions, Inc (U.S.), Radianse (U.S.), and Sonitor Technologies (Norway).


SOURCE: SOURCE MarketsandMarkets

The Report

  • PDF Brochure on This Report:
  • Healthcare Asset Management Market by Product (RFID (Active, Passive), RTLS, Infrared, Ultrasound Tags), Application (Hospitals (Equipment, Staff Management, Patient Monitoring), Pharmaceuticals (Drug Counterfeiting, Supply Chain)) – Global Forecast to 2020″, published by MarketsandMarkets, 
Browse 129 Tables and 31 Figures spread through 138 Pages and in-depth TOC on “Healthcare Asset Management Market 

Browse Related Reports:

  • Healthcare Supply Chain Management Market by Product (Inventory Management, Strategic Sourcing, Warehouse Management, Order Management, Supplier Management, RFID & Barcode), Delivery Mode (On Premise, Cloud) & End User – Global Forecast to 2019

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