Healthcare Asset Management Market Trends, Size, Segment and Industry Growth by Forecast to 2027

The healthcare asset management program helps in finding equipment quickly & easily eliminate the need for inventory stock-outs & improve asset utilization rate

NEW YORK, NY, UNITED STATES, November 26, 2021 /EINPresswire.com/ -- The global Healthcare Asset Management Market is forecasted to reach USD 101.36 Billion by 2027, according to a new report by Reports and Data. The growing demand for asset management in the healthcare sector is due to rapid technological advancements. Modern technology has removed the need for pen and paper. With the emergence of healthcare IT, the medical sector is shifting towards modern procedures. An asset management plan helps hospitals maintain regulations, assess risk, reduce operating costs, and enhance operational efficiency within the institution.

The market is witnessing an increased demand as they reduce the overall cost and protect the critical working of a building to maintain a clean and safe medical environment. Implementing a healthcare asset management program offers other benefits also other than saving money and time. Their offerings are more scalable and flexible. Moreover, asset management leverage location-based intelligence to provide real-time information on the status and utilization of medical equipment. Data flows into reports that are further sorted by facility, unit, department, and even enterprises for further analysis.

The healthcare asset management program helps in finding equipment quickly and easily, eliminate the need for inventory stock-outs and improve asset utilization rate. The market demand will continue to grow as effective hospital management can lead to a higher level of productivity.

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The COVID-19 impact:

The distribution of Covid-19's has influenced industrial activities worldwide. Over the weeks, the market has experienced a downturn that can continue in the coming months. The virus led to the implementation of lockdown, which disrupted the workings of the asset management program as the healthcare sector witnessed a collapse in several countries. They were loaded with patients infected by a coronavirus. Millions of people were infected, and thousands of them died, including the healthcare staff. Although the market suffered a major setback at the time, the industry is bouncing back as there is a greater need for better management and up-gradation of the medical sector.

Top Companies operating in the market and profiled in the report include:

AiRISTA Flow, ThingMagic, CenTrak, Inc., Stanley Healthcare, Sonitor, Versus Technology, Inc., GE Healthcare, Zebra Technologies, IBM Corporation, and Elpas, among others.

The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.

Increasing expenditure on R&D, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Healthcare Asset Management market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers & acquisitions, joint ventures, collaboration, and product launches, among others.

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Further key findings from the report suggest

• RTLS or Real-time location systems is beneficial to reduce cost and optimize efficiency as well as increase patient and staff satisfaction. RTLS helps in achieving and maintaining 99.9% inventory accuracy without the expensive and laborious audits that are time-consuming. The product helps in providing real-time pallet information within minutes.

• Patient management improves the quality of patient care, make optimal use of resources, and ensures compliance with all regulations. It offers spot-on access to patient-related data and maintenance as part of clinical and medical processes with other clinical applications.

• A digital revolution in the pharmaceutical industry has led them to rethink their strategies and asset portfolio, which creates a demand for the healthcare asset management market. The rise in tech giants has posed a challenge to these companies as factories are becoming more automated, and there is an infiltration of artificial intelligence in the industry. The segment will grow with a significant CAGR during the forecast period.

• The Asia Pacific region will witness significant growth of 32.8% due to a rise in drug-counterfeit concerns, support from the government in the implementation of the market solution, and partnership between tech and healthcare companies, which will drive the demand in the region.

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For the purpose of this report, Reports and Data has segmented into the Global Healthcare Asset Management Market on the basis of product, application, end-user, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

• Radiofrequency Identification (RFID) Devices
o Hardware
 Tags
 Readers/Interrogators
 Antennas
 Accessories
o Software
o Services
• Real-time location systems (RTLS)
o Hardware
 Tags/Badges
 Readers/Interrogators
o Software
o Services

Application Outlook (Revenue, USD Billion; 2017-2027)

• Hospital Asset Management
o Equipment Tracking and Management
o Temperature and Humidity Control
o Patient Management
o Infection Control and Hand Hygiene Compliance
o Staff Management
• Software Solutions
o Supply Chain Management
o Drug Anti-counterfeiting

End-User Outlook (Revenue, USD Billion; 2017-2027)

• Pharmaceutical Companies
• Hospitals and Clinics
• Bio-Technology Companies
• Others

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The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, R&D and technological advancements, and growth prospects.

Key Regions Assessed in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Germany, Italy, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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