Global Surgical Instrument Tracking Systems Market Size, Share, Forecast Report, 2020-2027

The global Surgical Instrument Tracking Systems market garnered revenue around USD 182 Million in 2020 and projected to reach USD 330 Million in 2027, with at a compound annual growth rate of 14.1% throughout the estimate period from 2020 to 2027.

According to our findings, the surgical instrument tracking systems market is expected to grow at an approximate CAGR of 10-15% during the next two years. According to our analysis, the below factors are playing a key role in shaping the growth of the global market;

• The outbreak of COVID-19 has been increasing exponentially in the US. This has led to high risk infections to healthcare workers and patients and reduced the number of surgeries in hospitals. According to the US National Library of Medicine National Institutes of Health, all plastic surgeries have been postponed. There has been a decline in regular patient visits to hospitals and clinics which has led to a decline in the number of surgeries being conducted, which is expected to inhibit market growth.
• Due to the rapid spread of COVID-19, there is a risk of shortages in medical supplies and equipment due to the temporary lockdown of manufacturing sites in affected areas or travel restrictions impacting shipments. Beyond transportation-related delays arising from travel restrictions and the shortage of drivers, COVID-19 has not significantly impacted surgical supplies across geographies.
• The normalization of the global economy is expected to gradually increase the manufacturing and transportation of medical supplies, in turn, supporting market growth from the first quarter of 2021.

This research report encompasses precise assessment of the market with the help of comprehensive qualitative insights and supportable prognoses regarding market size, consumption and production. The projections presented in the report have been derived using proven research methodologies and assumptions. It does so by means of comprehensive qualitative insights, historical statistics, and verifiable predictions about market revenue and sales.

The rapidly budding threat owed to the eruption of COVID-19 is impacting lives, communities, businesses, and industries across the globe. With businesses shuttered, flights grounded, COVID-19 is about to affect the global economy in different ways such as by directly upsetting production and demand, by generating supply chain disruption, and by its financial impact on firms and financial markets. Therefore, this report covers COVID-19 outbreak impact analysis on the Surgical Instrument Tracking Systems market under the research study. The market estimates offered in the report are the outcome of in-depth extensive secondary research, primary interviews and in-house professional assessments. These market evaluations have been measured by reviewing the impact of numerous social, political and economic factors coupled with recent market dynamics affecting the Surgical Instrument Tracking Systems market growth.

The global Surgical Instrument Tracking Systems market is characterized by the presence of numerous small as well as medium scale companies. These players are largely focused towards forward integration via raw material production, product manufacturing, and distribution across various industry verticals. The report recognizes numerous crucial manufacturers of the market. This research study aids to comprehend the strategies and associations that companies are converging to survive in this competitive marketplace. This report assists in understanding footprints of the manufacturers with the help of their global revenue, production, capacity and average selling price analysis for period 2016-2027.

Major manufacturers analysed under this study comprises:

Fortive Corporation Group (US), Material Management Microsystems(US), Becton, Dickson and Company (US), Haldor Advanced Technologies (US), Key Surgical,Inc. (US), Mobile Aspects (US), TGX Medical Systems (US), Xerafy (China), Stanley Healthcare (Israel), B.Barun Melsungen (Germany), Gentinge Group (Sweden), Steris Instrument Management Services (US),Koch Industries (US), SpaTrack Medical Limited (UK), Scanlan International,Inc. (US), Case Medical (US), Asanus Medizintechnik Gmbh Inc. (Germany), Keir Surgical Ltd. (Canada), Intechnology Distribution PTY Ltd. (Australia), Nutrace (US).

This report delivers market breakdown and its revenue, consumption, production analysis and projections by categorizing it depending on parameters such as type, application/end-user, and region. This research report delivers the analysis and prognosis of revenue, production, price, market share and growth trend for different products such as:

Global Surgical Instrument Tracking Systems Market, by Technology

• Barcode
• RFID

Global Surgical Instrument Tracking Systems Market, by Component

• Software
• Hardware
• Readers
• Tags
• Other Hardware
• Services

Global Surgical Instrument Tracking Systems Market, by End Use

• Covid-19 Impact, By End User
• Hospitals
• Public Hospitals
• Private Hospitals
• Other End Users

Global Surgical Instrument Tracking Systems Market, by Region

• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Rest of Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis and Forecast

Further, this research study analyses market size, production, consumption and its advancement trends at global, regional, and country level for period 2016 to 2027 and covers following region in its scope:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • Italy
  • France
  • Rest of EU
• Asia Pacific
  • China
  • India
  • Japan
  • Southeast Asia
  • Rest of APAC
• Central & South America
  • Brazil
  • Argentina
  • Rest of Central & South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA