Global hospital asset management systems Market
Information Technology

How is the Hospital Asset Management Systems Market Poised for Growth: Trends and Opportunities Through 2034

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What is the Predicted Annual Growth Rate of the Hospital Asset Management Systems Market Over the Coming Decade?

The hospital asset management systems market has seen exponential growth and is expected to increase from $26.57 billion in 2024 to $32.61 billion in 2025, at a CAGR of 22.7%. The historical growth was influenced by factors such as regulatory compliance, cost reduction initiatives, rising healthcare costs, patient safety measures, and improved inventory control.

The hospital asset management systems market is expected to witness exponential expansion, reaching $82.61 billion by 2029 with a CAGR of 26.2%. Growth factors include integration with electronic health records, the adoption of artificial intelligence and predictive analytics, global health crisis preparedness, the rise of telehealth and remote patient monitoring, and a focus on energy-efficient healthcare solutions. Emerging trends will involve blockchain adoption, enhanced collaboration and interoperability, digital twin technology for equipment management, big data analytics for asset optimization, user-friendly interfaces, and specialized staff training.

Which Factors Are Enhancing the Growth of the hospital asset management systems Market?

The growing number of hospitals is accelerating the hospital asset management systems market. The demand for hospital asset management solutions is rising due to increased hospitalizations and chronic disease cases. For instance, in May 2023, the American Hospital Association reported that the number of US hospitals increased from 6,090 in 2021 to 6,129 in 2023. Similarly, the number of community hospitals rose from 3,453 in 2021 to 3,514 in 2023. Consequently, the rise in hospitals is driving the hospital asset management systems market.

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What Are the Major Players Making an Impact in the Hospital Asset Management Systems Market’s Growth?

Major companies operating in the hospital asset management systems market include:

• McKesson Corporation

• International Business Machines Corporation

• Honeywell International Inc.

• Siemens Healthineers

• GE Healthcare Technologies Inc.

Which Upcoming Trends Are Set to Influence the Hospital Asset Management Systems Market’s Path Forward?

Product innovation is a key trend in the hospital asset management systems market. Companies are focusing on developing innovative solutions to strengthen their market position. For example, in April 2023, GE HealthCare Technologies Inc., a US-based medical technology company, launched ReadySee, a new asset management and network monitoring solution, along with the Portrait Mobile monitoring solution. These tools aim to provide actionable insights about medical devices, streamline device location, and improve cybersecurity protocols to safeguard sensitive patient health information (PHI).

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Which Key Segments of the Hospital Asset Management Systems Market Are Poised for Growth and Innovation?

The hospital asset management systems market covered in this report is segmented –

1) By Product Type: Radio-Frequency Identification (RFID), Real-Time Location Systems (RTLS), Ultrasound And Infrared Tags

2) By Application: Patient Management, Equipment Tracking And Management, Temperature And Humidity Control, Infection Control And Hygiene Compliance, Staff Management, Pharmaceutical Asset Management, Other Applications

3) By End-Use: Hospitals, Laboratories, Other End Users

Subsegments:

1) By Radio-Frequency Identification (RFID): Passive RFID Tags, Active RFID Tags, RFID Readers And Software

2) By Real-Time Location Systems (RTLS): Infrared RTLS, Ultrasound RTLS, GPS RTLS, Zigbee RTLS

3) By Ultrasound And Infrared Tags: Ultrasound Tags, Infrared Tags, Hybrid Tags (Combining Ultrasound And Infrared Technologies)

What Regions Are Steering Growth in the Hospital Asset Management Systems Sector?

North America was the largest region in the hospital asset management systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital asset management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

How Is the Hospital Asset Management Systems Market Classified and Defined in Market Analysis?

Hospital asset management systems refer to a method for arranging, looking after, and monitoring the assets used in a healthcare center. Hospital asset management systems track and manage a hospital’s physical assets.

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