Surgical Instrument Tracking System Market 2027 | Forecast By MRFR along with Braun Melsungen AG, BD, Censis Technologies, Inc., Xerafy, Haldor, Microsystems, Applied Logic, Etc.
Global Surgical Instrument Tracking System Market – Overview
The Global Surgical Instrument Tracking System (IGRT) Market is growing exponentially owing to the 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.
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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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.
The Tag Factory and Xerafy had announced a licensing agreement for Xerafy’s RFID ceramic tag technology. As per the agreement, The Tag Factory will be manufacturing and marketing ceramic RFID tags using the RFID ceramic tag technology.
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.
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Regional Analysis of Surgical Instrument Tracking System Market:
Globally North America is the largest market for surgical instrument tracking system. The North American market for Surgical instrument tracking system is expected to grow at a CAGR of XX% and is expected to reach at US$ XXX Million by the end of the forecasted period. This is due to rising need for inventory management. Europe is the second-largest market for surgical instrument tracking system which is expected to grow at a CAGR of XX%. Whereas Asia pacific is expected to be a growing market for surgical instrument tracking system market
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
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