Healthcare Asset Management Market Increasingly Becoming Vital In Healthcare Sector

Global Healthcare Asset Management Market: Key Highlights

• According to the new market research report “Healthcare Asset Management Market by Product Type (Radiofrequency Identification (RFID) Devices, and Real-time Location Systems (RTLS), Others), by Application (Drug Anti-counterfeiting, Equipment Locating, Asset Utilization, Staff Management, Patient Tracking, Other), by End-User (Pharmaceuticals, Hospitals, Bio-Technology Companies, Others), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global healthcare asset management market is estimated to reach USD 105 Billion by 2027 at a CAGR of around 26.2% during the review period.
• Asset management has helped healthcare industry to quickly identify and locate critical equipment and supplies 
• Increases process efficiency which can take care of tasks as varied by locating medical equipment, providing up to date on each item, and offering complete access to maintenance records
• Healthcare asset management helps to alert staff regarding maintenance process reducing the damages to equipment’s
• The system helps to properly organize data and helps an organization and its process become more efficient, time conscious and money savvy 

Global Healthcare Asset Management Market: Key Market Dynamics

• Growing demand for tracking equipment which helps to improve operational efficacy and lower the operational cost has expected to boost the demand for product market
• The rising risk of drug counterfeiting during the supply chain process may affect the patients’ health has surged the adoption of health asset management driving the market growth
• High cost associated with products in health asset management such as radio frequency identification device (RFID), and others may hinder the growth of the market during the forecasted period

Global Healthcare Asset Management Market: Regional Overview

• North America

North America's healthcare asset management market is expected to dominate the market owing to the robust healthcare infrastructure as the region is an early adopter of IT infrastructure in the healthcare sector. According to EFPIA, in 2017 North America accounted for 48.1% of the world’s pharmaceutical sales. The growing pharmaceutical sector has developed the need for healthcare asset management adoption which will help to increase operational efficiency. Additionally, growing research and development activities carried for developing new drugs is also expected to propel the healthcare asset management market.    

• Asia-Pacific

Growing in the pharmaceutical market and research environment in emerging economies such as India, and China has led to the gradual migration of economies and research activities from other markets. According to OECD, in 2016, Japan spent 2% of its GDP on the pharmaceuticals sector. Growing healthcare sectors in emerging economies coupled with research and development activities in the region have expected to boost the growth of the market during the forecasted period.   

Global Healthcare Asset Management Market: Key Players Overview

• STANLEY Healthcare:

STANLEY Healthcare provides solutions to empower caregivers to deliver better care and is a global serving customer across the globe. The company serves more than 15,000 healthcare organizations across the globe. In February 2018, STANLEY Healthcare partnered with Sonitor Technologies to transform its RTLS technology. This will help RTLS technology to be more accurate and reliable, and will help hospitals to implement RTLS solution lower cost and with less complexity.

• Zebra Technologies Corp.:

Zebra Technologies Corp. offers Barcode Printing, Mobile Computing, Data Capture, Location, Data Platforms, Software, Services, Supplies. The company has over 1000 partners across the globe. In June 2017, GE Healthcare and Zebra Technologies entered into agreement to help lead the way in bringing Bluetooth low energy wireless asset tracking technology to hospitals.

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