The global surgical instrument tracking systemmarket is expected to exhibit significant growth over the forecast period. The market was valued at approximately USD 168.95 million in 2018 and is projected to register a 14.7% CAGR over the forecast period.
Surgical instrument tracking systems are systems that can combine scanning technology and application software. They help healthcare professionals to access time-saving tools, leading to them performing efficient and time-saving procedures.
Factors such as the requirement of better inventory and asset management practices, growth of the surgical instruments market, and need to meet unique device identification rules of the Food and Drugs Administration (FDA) are expected to drive the market growth. Moreover, the high rate of adoption of the surgical instrument tracking systems by hospitals is also expected to boost market growth.
However, factors such as the long investment cycles and the high cost of the surgical instrument tracking system are expected to hamper the market growth.
Key Players
Censis Technologies, Inc. (US), Keir Surgical (Canada), Microsystems, Inc. (US), Becton, Dickinson and Company (US), Haldor Advanced Technologies (US), Intelligent InSites (US), Key Surgical (US), Mobile Aspects (US), TGX Medical Systems (US), Xerafy Singapore Pte Ltd (Singapore), STANLEY Healthcare (US), Getinge AB (Sweden), SpaTrack Medical Limited (UK), Scanlan International (US), and FingerPrint Medical Limited (UK) are some of the key players operating in the global surgical instrument tracking system market.
Segmentation
The global surgical instrument tracking system market has been segmented into system type, component, end users, and region.
Based on system type, the global surgical instrument tracking system market has been segmented into electronic tracking, barcode tracking, and radio frequency identification (RFID).
The global surgical instrument tracking system market, by component, has been segmented into software, hardware, and services. The hardware segment is further classified into readers, tags, and others.
The global surgical instrument tracking system market, by end user, has been segmented into hospitals & clinics, research centers, and others.
Global Surgical Instrument Tracking System Market, by System Type
- Electronic Tracking
- Barcode Tracking
- Radio Frequency Identification (RFID)
Global Surgical Instrument Tracking System Market, by Components
- Software
- Hardware
- Readers
- Tags
- Others
- Services
Global Surgical Instrument Tracking System Market, by End User
- Hospitals and Clinics
- Research Centers
- Others
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