Hospital Asset Management Systems Market Research, 2033
The global hospital asset management systems market was valued at $13.1 million in 2023, and is projected to reach $67.8 million by 2033, growing at a CAGR of 17.9% from 2024 to 2033. Increasing focus on operational efficiency meads to surge in adoption of hospital asset management systems and is one of the major drivers of the market.
Market Introduction and Definition
Hospital asset management systems refer to a set of technologies and processes designed to monitor, track, manage, and optimize the use of physical assets within a hospital or healthcare facility. These assets include medical equipment (such as infusion pumps, ventilators, and MRI machines) , surgical instruments, inventory (such as pharmaceuticals and supplies) , patient beds, wheelchairs, and even the movement of patients and staff within the facility. It is centered around technologies and solutions designed to monitor, track, and manage physical assets within healthcare facilities. These systems are crucial for enhancing operational efficiency, reducing costs, ensuring compliance, and improving patient care by providing real-time visibility and control over assets such as medical equipment, surgical tools, and other valuable resources.
Key Takeaways
- The hospital asset management systems industry size study covers 20 countries. The research includes a segment analysis of each country in terms of value ($Million) for the projected period 2023-2033.
- More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major hospital asset management systems industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.
Key Market Dynamics
The hospital asset management systems industry growth has been growing significantly due to the increasing focus on operational efficiency. Hospitals and healthcare facilities are increasingly focusing on improving operational efficiency. Asset management systems help in reducing the time spent locating and managing assets, thereby enhancing productivity and reducing operational costs. Further, the adoption of RFID and RTLS technologies is growing rapidly as they offer real-time tracking and management of assets. These technologies provide accurate and reliable data, which is essential for effective decision-making in healthcare environments.
Also, healthcare facilities are under pressure to contain costs while maintaining high standards of care. Asset management systems contribute to cost savings by optimizing the utilization of assets, reducing losses, and minimizing equipment downtime. Furthermore, strict regulatory requirements related to patient safety and equipment management are driving the adoption of asset management systems thereby driving hospital asset management systems industry growth. These systems help ensure compliance with regulations by providing detailed records and audit trails of asset usage.
Continuous advancements in technologies, including the integration of IoT, AI, and cloud computing in asset management systems, are driving the market. These technologies enable predictive maintenance, advanced analytics, and improved asset tracking capabilities. Moreover, increased healthcare spending, especially in emerging markets, is leading to the expansion and modernization of healthcare facilities. This, in turn, boosts the demand for advanced asset management solutions and drives the hospital asset management systems industry forecast.
Hospital Capacity Management Solution Technology
Hospital capacity management (HCM) assists healthcare facilities in efficiently managing patient services and making the best use of existing resources to facilitate treatment services and increase revenue. It includes the technologies and devices for managing beds that track bed use rates and oversee the admission and upkeep of beds. The global hospital capacity management solution market size was valued at $2.9 billion in 2021, and is projected to reach $6.8 billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031.
Global Hospital Capacity Management Solution Market, 2021 & 2031
2021 | 2031 |
2.9 billion | 6.8 billion |
Market Segmentation
The hospital asset management systems industry analysis is segmented into product type, application, and region. On the basis of type, the market is categorized into radiofrequency identification devices, and real-time location systems devices. On the basis of application, the market is classified into patient management, equipment tracking & management, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Regional/Country Market Outlook
North America accounted for a major hospital asset management systems industry share of the hospital asset management systems market owing to the presence of major players, well-established healthcare facilities, recent technological advancements, improved clinical & laboratory research infrastructure, and the surge in use of affordable medical systems in clinical diagnostic laboratories.
Asia-Pacific hospital asset management systems industry share is estimated to grow with the highest CAGR during the forecast period, owing to the lucrative opportunities for the hospital asset management systems market key players, owing to a rise in healthcare investment. Another factor driving the growth of the market is the focus of major players on technological advancements in hospital asset management systems.
Industry Trends
- IoT plays a crucial role in the evolution of hospital asset management systems. By connecting medical devices and equipment to the internet, hospitals can achieve real-time monitoring and management of assets. This integration enables predictive maintenance, efficient resource utilization, and real-time data analytics.
- The trend toward smart hospitals, where IoT devices are extensively used for asset management, is gaining momentum. These hospitals leverage IoT to enhance patient care, streamline operations, and improve decision-making.
Recent Development in Hospital Asset Management Systems Industry
- In April 2023, GE HealthCare, a leader in health technology, displayed its growing portfolio of digital platforms and solutions at the Health Information and Management Systems Society, Inc. (HIMSS) Global Health Conference and Exhibition in Chicago.
- In May 2022, EQ2, LLC a leader in CMMS software for hospital asset management announced four new products as part of its “next generation” product releases of its HEMS (Hospital Equipment Management System) CMMS products.
Competitive Landscape
The major players operating in the hospital asset management systems market, Stanley Healthcare, CenTrak, IBM, GE Healthcare, AiRISTA Flow, Sonitor Technologies, Versus Technology, Zebra Technologies Corporation, Identiv, Inc., and Honeywell International Inc.
Key Sources Referred
- National Center for Biotechnology Information
- World Health Organization (WHO)
- National Library of Medicine
- The United States Food and Drug Administration
- U.S. Department of Health & Human Services
- Centers for Disease Control and Prevention
- Indian Council of Medical Research
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hospital asset management systems market analysis from 2024 to 2033 to identify the prevailing hospital asset management systems market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hospital asset management systems market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The hospital asset management systems industry size analysis also included regional as well as global hospital asset management systems industry trends, key players, market segments, application areas, and market growth strategies.
Hospital Asset Management Systems Market Report Highlights
| Aspects | Details |
 Market Size By 2033 | USD 67.8 Million |
 Growth Rate | CAGR of 17.9% |
 Forecast period | 2024 - 2033 |
 Report Pages | 280 |
 By Product Type |
|
 By Application |
|
 By Region |
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 Key Market Players | Zebra Technologies Corporation, International Business Machines Corporation (IBM), GE Healthcare, Sonitor Technologies, Stanley Healthcare, AiRISTA Flow, Centrak, Identiv, Inc., Versus Technology, Honeywell International Inc. |
Hospitals and healthcare facilities are increasingly focusing on improving operational efficiency and this is the upcoming trends of hospital asset management systems market in the globe.
Asia-Pacific is the fastest growing regional market of hospital asset management systems market.
North America is the largest regional market forhospital asset management systems market.
The global hospital asset management systems market was valued at $13.1 million in 2023, and is projected to reach $67.8 million by 2033, growing at a CAGR of 17.9% from 2024 to 2033.
The major players operating in the hospital asset management systems market, Stanley Healthcare, CenTrak, IBM, GE Healthcare, AiRISTA Flow, Sonitor Technologies, Versus Technology, Zebra Technologies Corporation, Identiv, Inc., and Honeywell International Inc.
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