Abstract
Summary
REPORT HIGHLIGHT
The global Hospital Asset Management market was valued at USD 35,901.3 million in 2023, growing with 26.1% CAGR during the forecast period, 2024-2032.
Hospital asset management entails managing and maintaining machinery, equipment, and physical Efficient management of assets within a hospital is crucial for ensuring optimal operations and cost-effectiveness. Assets in a hospital encompass various physical infrastructures and systems, including heating, generators, air-conditioning, plumbing, electrical systems, as well as healthcare-specific equipment like wheelchairs and mobile beds.
Market Dynamics:
The growing need for advanced asset management solutions in hospitals to enhance patient care is expected to drive market growth significantly during the forecast period. Asset management software plays a vital role in organizing everything from medications to high-tech medical equipment such as laboratory microscopes and MRI scanners, thereby impacting the way healthcare professionals deliver care. Effective hospital asset management systems are essential for tracking physical assets and addressing patient needs on a daily basis. Hospitals also benefit from scheduling equipment inspections in advance, reducing downtime and ensuring that equipment is readily available when needed. These factors collectively support the growth of the hospital asset management market.
Regional Analysis:
In terms of region, North America dominated the global hospital asset management market during the forecast period. This growth is attributed to factors such as the improving quality of infrastructure and the increasing adoption of cost-effective medical systems in clinical diagnostic laboratories. Additionally, the region benefits from the presence of well-established players and a comprehensive network of healthcare service providers, further bolstering market growth.
On the other hand, the Asia Pacific region is expected to witness the highest Compound Annual Growth Rate (CAGR) during the forecast period, primarily driven by increasing demand from developing economies such as China and India. Factors such as the rising demand for simplified asset management software, increased digitization, and growing investments in healthcare infrastructure by prominent players in the region are anticipated to fuel market growth in the Asia Pacific.
Segmentation Analysis
Based on product, the hospital asset management market is segmented into Real-time Location Systems (RTLS), Ultrasound Tags, Infrared Tags, and Radio-frequency Identification (RFID). In 2020, the Radio-frequency Identification (RFID) segment held the largest market share, a trend expected to continue during the forecast period. This growth is attributed to increasing technological advancements enabling functionalities such as locating patients and assets, preventing drug errors or counterfeiting, theft prevention, drug trial compliance, and cost control.
Regarding application, the hospital asset management market is segmented into staff management, supply chain management, patient management, and instrument management. Hospital asset management is anticipated to dominate the market throughout the forecast period. This dominance is driven by the growing need for effective asset management in hospitals, coupled with increasing demand for equipment tracking solutions.
Competitive Landscape:
Key players in the market adopt various strategies to maintain their market position, including mergers and acquisitions, consolidations, investments, partnerships, product launches, and divestments. For example, in September 2019, CGI acquired Annams Systems Corporation d/b/a Sunflower Systems, a leading provider of asset management software solutions and services. This acquisition strengthens CGI's position in serving the needs of commercial entities and federal government agencies. In February 2019, Kathrein Solutions GmbH launched the new RTLS system K-RLTS, which combines high localization accuracy in an industrial environment with specific technical features, enabling a wide application of the system in various scenarios.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL HOSPITAL ASSET MANAGEMENT MARKET KEY PLAYERS
Ø STANLEY Healthcare
Ø GE Healthcare
Ø AWAREPOINT Corporation
Ø Ascom
Ø Impinj Inc.
Ø Sanitag
Ø ASAP Systems
Ø Real Asset Management Ltd.
Ø AiRISTA Flow, Inc.
Ø Elpas
Ø IBM Corporation
Ø Intelligent Insites
Ø Thingmagic (A Novanta Company)
Ø Sonitor
Ø Versus Technology (A Midmark Company)
Ø Accruent
Ø HxCentral
Ø Healthcare Technologies
GLOBAL HOSPITAL ASSET MANAGEMENT MARKET, BY PRODUCT
Ø Real-time Location Systems (RTLS)
Ø Ultrasound Tags
Ø Infrared Tags
Ø Radio-frequency Identification (RFID)
GLOBAL HOSPITAL ASSET MANAGEMENT MARKET, BY APPLICATION
Ø Staff Management
Ø Supply Chain Management
Ø Patient Management
Ø Instrument Management
GLOBAL HOSPITAL ASSET MANAGEMENT MARKET, BY REGION
Ø North America
o The U.S.
o Canada
Ø Europe
o Germany
o France
o Italy
o Spain
o United Kingdom
o Rest of Europe
Ø Asia Pacific
o India
o China
o South Korea
o Japan
o Singapore
o Rest of APAC
Ø Latin America
o Brazil
o Mexico
o Argentina
o Rest of LATAM
Ø The Middle East and Africa
o Saudi Arabia
o United Arab Emirates
o Rest of MEA
Table of Contents
1 Hospital Asset Management Market Overview
1.1 Study Scope
2 Executive Summary
2.1 Market Snippet
2.1.1 Market Snippet by Product
2.1.2 Market Snippet by Application
2.1.3 Market Snippet by Region
2.2 Competitive Insights
3 Hospital Asset Management Key Market Trends
3.1 Market Drivers
3.1.1 Impact Analysis of Market Drivers
3.2 Market Restraints
3.2.1 Impact Analysis of Market Restraints
3.3 Market Opportunities
3.4 Market Future Trends
4 Hospital Asset Management Industry Study
4.1 Porter’s Five Forces Analysis
4.2 Marketing Strategy Analysis
4.3 Growth Prospect Mapping
4.4 Regulatory Framework Analysis
5 Hospital Asset Management Market: COVID-19 Impact Analysis
5.1 Pre-COVID-19 Impact Analysis
5.2 Post-COVID-19 Impact Analysis
5.2.1 Top Performing Segments
5.2.2 Marginal Growth Segments
5.2.3 Top Looser Segments
5.2.4 Marginal Loss Segments
6 Hospital Asset Management Market Landscape
6.1 Market Share Analysis, 2023
6.2 Key Innovators Analysis
6.3 Breakdown Data, by Key Manufacturer
6.3.1 Established Players’ Analysis
6.3.2 Emerging Players’ Analysis
7 Hospital Asset Management Market - By Product
7.1 Overview
7.1.1 Segment Share Analysis, Product, 2023 & 2032 (%)
7.2 Real-time Location Systems (RTLS)
7.3 Ultrasound Tags
7.4 Infrared Tags
7.5 Radio-frequency Identification (RFID)
8 Hospital Asset Management Market - By Application
8.1 Overview
8.1.1 Segment Share Analysis, Application, 2023 & 2032 (%)
8.2 Staff Management
8.3 Supply Chain Management
8.4 Patient Management
8.5 Instrument Management
9 Hospital Asset Management Market- By Geography
9.1 Introduction
9.1.1 Segment Share Analysis, By Geography, 2023 & 2032 (%)
9.2 North America
9.2.1 Overview
9.2.2 Key Manufacturers in North America
9.2.3 North America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
9.2.4 North America Market Size and Forecast, By Product Type, 2019 - 2032 (US$ Million)
9.2.5 North America Market Size and Forecast, By Material, 2019 - 2032 (US$ Million)
9.2.6 North America Market Size and Forecast, By Distribution Channel, 2019 - 2032 (US$ Million)
9.2.7 U.S
- 9.2.7.1 Overview
- 9.2.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.7.3 U.S. Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.2.7.4 U.S. Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.2.8 Canada
- 9.2.8.1 Overview
- 9.2.8.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
9.3 Europe
9.3.1 Overview
9.3.2 Key Manufacturers in Europe
9.3.3 Europe Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
9.3.4 Europe Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
9.3.5 Europe Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.3.6 Germany
- 9.3.6.1 Overview
- 9.3.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.3.6.3 Germany Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.3.6.4 Germany Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.3.7 Italy
- 9.3.7.1 Overview
- 9.3.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.3.7.3 Italy Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.3.7.4 Italy Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.3.8 United Kingdom
- 9.3.8.1 Overview
- 9.3.8.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.3.8.3 United Kingdom Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.3.8.4 United Kingdom Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.3.9 France
- 9.3.9.1 Overview
- 9.3.9.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.3.9.3 France Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.3.9.4 France Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.3.10 Rest of Europe
- 9.3.10.1 Overview
- 9.3.10.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.3.10.3 Rest of the Europe Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.3.10.4 Rest of the Europe Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.4 Asia Pacific (APAC)
9.4.1 Overview
9.4.2 Key Manufacturers in Asia Pacific
9.4.3 Asia Pacific Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
9.4.4 Asia Pacific Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
9.4.5 Asia Pacific Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.4.6 India
- 9.4.6.1 Overview
- 9.4.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.4.6.3 India Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.4.6.4 India Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.4.7 China
- 9.4.7.1 Overview
- 9.4.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.4.7.3 China Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.4.7.4 China Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.4.8 Japan
- 9.4.8.1 Overview
- 9.4.8.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.4.8.3 Japan Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.4.8.4 Japan Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.4.9 South Korea
- 9.4.9.1 Overview
- 9.4.9.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.4.9.3 South Korea Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.4.9.4 South Korea Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.4.10 Rest of APAC
- 9.4.10.1 Overview
- 9.4.10.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.4.10.3 Rest of APAC Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.4.10.4 Rest of APAC Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.5 Latin America
9.5.1 Overview
9.5.2 Key Manufacturers in Latin America
9.5.3 Latin America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
9.5.4 Latin America Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
9.5.5 Latin America Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.5.6 Brazil
- 9.5.6.1 Overview
- 9.5.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.5.6.3 Brazil Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.5.6.4 Brazil Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.5.7 Mexico
- 9.5.7.1 Overview
- 9.5.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.5.7.3 Mexico Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.5.7.4 Mexico Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.5.8 Argentina
- 9.5.8.1 Overview
- 9.5.8.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.5.8.3 Argentina Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.5.8.4 Argentina Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.5.9 Rest of LATAM
- 9.5.9.1 Overview
- 9.5.9.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.5.9.3 Rest of LATAM Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.5.9.4 Rest of LATAM Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.6 Middle East and Africa
9.6.1 Overview
9.6.2 Key Manufacturers in Middle East and Africa
9.6.3 Middle East and Africa Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
9.6.4 Middle East and Africa Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
9.6.5 Middle East and Africa Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.6.6 Saudi Arabia
- 9.6.6.1 Overview
- 9.6.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.6.6.3 Saudi Arabia Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.6.6.4 Saudi Arabia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
9.6.7 United Arab Emirates
- 9.6.7.1 Overview
- 9.6.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.6.7.3 United Arab Emirates Market Size and Forecast, By Product, 2019 - 2032 (US$ Million)
- 9.6.7.4 United Arab Emirates Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
10 Key Vendor Analysis
10.1 Competitive Dashboard
10.2 Company Profiles
10.2.1 STANLEY Healthcare
10.2.2 GE Healthcare
10.2.3 AWAREPOINT Corporation
10.2.4 Ascom
10.2.5 Impinj Inc
10.2.6 Sanitag
10.2.7 ASAP Systems
10.2.8 Real Asset Management Ltd
10.2.9 AiRISTA Flow, Inc
10.2.10 Elpas
10.2.11 IBM Corporation
10.2.12 Intelligent Insites
10.2.13 Thingmagic (A Novanta Company)
10.2.14 Sonitor
10.2.15 Versus Technology (A Midmark Company)
10.2.16 Accruent
10.2.17 HxCentral
10.2.18 Healthcare Technologies
11 360 Degree AnalystView
12 Appendix
12.1 Research Methodology
12.2 References
12.3 Abbreviations
12.4 Disclaimer
12.5 Contact Us