The Global Surgical Instrument Tracking System (IGRT) Market is growing exponentially owing to the impact of the UDI regulation and rising need for inventory management are the major factor driving the Surgical Instrument Tracking System Market. The global surgical instrument tracking system market is expected to grow at a CAGR of 18% during the forecasted period.
Furthermore, the increasing adoption of instrument and medical devices tracking products by private and public hospitals is considered as a major factor contributing to the growing market. The major challenges such as vast inventory management and tracing of instruments and medical devices during the work cycle, such as during surgery, post-surgery, and sterilization procedures are faced by the hospitals. Thus, the need of tracking systems for medical devices and instrument is growing at an exponential rate, which is anticipated to propel the growth of the market segment.
Barcode technology is the most commonly type of tracking technology used and adoption in medical devices industry. This technology is the key element that contributes to its high revenue share. In addition, the low installation cost has resulted in its growing applications in hospitals and ambulatory surgery centres. In a report published by the National Centre for Biotechnology Information states that the retained surgical objects has a fatality rate of approximately 2%. Hence the need for advanced technologies such as RFID and 2D barcodes, to track the instruments used in operation theatre is growing all these factors are expected to boost growth.
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Global Surgical Instrument Tracking System Market – Company Analysis
The surgical instrument tracking systems market is considered to be highly fragmented and is based on clinical results of product and their novel product launches. Thus, the major players have employed various strategies such as agreements, acquisitions, market initiatives, high expense on research and development, clinical trials, new product launches, partnerships, and joint ventures to increase their footprints in this market.
Technological advancement in software is a key factor driving the adoption of tracking software for inventory and surgical instruments management. For instance, IMPRESS instrument management software delivers information on serialized surgical instruments, assisting in inventory management and providing ongoing support through continuous assistance through phone.
Braun Melsungen AG, BD, Censis Technologies, Inc., Xerafy, Haldor Advanced Technologies, Microsystems, Inc., Applied Logic, Inc., Infor, Intelligent InSites, Key Surgical, Mobile Aspects Inc., STANLEY Healthcare, TGX Medical Systems, Vizbee RFID Solutions, Roboz Surgical Instrument Co., JJ International Instruments, GEISTER MEDIZINTECHNIK GmbH, ESI, Millennium Surgical Corp and Katalyst Surgical, LLC and others are some of the prominent players at the forefront of competition in the Global Surgical Instrument Tracking System Market and are profiled in MRFR Analysis.
Surgical Instrument Tracking System (IGRT) Market Segments:
Global Surgical instrument tracking system market has been segmented on the basis of types which include electronic tracking, barcode tracking, Radio Frequency Identification (RFID) and others. On the basis of end users which consists of hospitals, clinics, research facilities, laboratories and others. On the basis of component which consists of software, services and others.
Table of Contents for Surgical Instrument Tracking System (IGRT) Market:
1 Report Prologue
3 Research Methodologies
4 Market Dynamics
5 Market Factor Analyses
6 Middle East & Africa Kinesio Tape Market, By Type
7 Middle East & Africa Kinesio Tape Market, By Application
8 Middle East & Africa Kinesio Tape Market, By End User
9 Middle East & Africa Kinesio Tape Market, By Country
10 Kinesio Tape Market Share, Public vs. Private
11 Company Profile
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