Surgical instrument tracking refers to the process of monitoring and managing surgical instruments within a healthcare facility. This tracking system is designed to enhance patient safety, improve operational efficiency, and ensure the availability of sterile and functional instruments for surgical procedures.
The global surgical instrument tracking market was valued at US$ 301.5 Million in 2022 and is forecast to reach a value of US$ 1,206.5 Million by 2030 at a CAGR of 19.0% between 2023 and 2030.
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Company Profiles Associates with Surgical Instrument Tracking Market :
- Keir Surgical Ltd.
- Case Medical
- Scanlan International, Inc.
- Koch Industries
- Getinge Group
- Braun (Aesculap, Inc.)
- Xerafy
- Mobile Aspects
- Key Surgical, Inc.
- Spatrack Medical Limited
- Fortive Corporation Group
- Haldor Advanced Technologies
- Tgx Medical Systems
- Becton, Dickinson and Company
- Intechnology Distribution Pty Ltd.
- Nutrace
- Steris Insturment Management Services
- Material Management Microsystems
- Asanus Medizintechnik GmbH Inc.
- Stanley Healthcare (Division of Stanley Black & Decker)
Market Dynamics:
The prevalence of cardiovascular diseases and other chronic illnesses is rising, surgical procedures are increasing, there aren’t enough skilled or trained healthcare professionals, and there is a growing need for surgical instrument tracking devices and systems. These are all significant factors that are predicted to contribute to the growth of the global surgical instrument tracking market over the forecast period.
For instance, cardiovascular illnesses are the main cause of death in the United States, according to the Centers for Disease Control and Prevention (CDC). Additionally, the International Society of Aesthetic Plastic Surgery (2022 report) estimates that 10,129,528 cosmetic surgeries were carried out in 2020. The top 5 surgical procedures were abdominoplasty (765,248), rhinoplasty (852,554), liposuction (1,525,197), eyelid surgery (1,225,540), and breast augmentation (1,624,281).
Surgical Instrument Tracking Market Report Coverage
| The market size value in 2023 |
Detailed Segmentation:
- Global Surgical Instrument Tracking Market, By Technology:
- Barcode
- Radiofrequency Identification (RFID)
- Global Surgical Instrument Tracking Market, By Component:
- Software
- Hardware
- Readers
- Tags
- Other Hardware
- Services
- Global Surgical Instrument Tracking Market, By End User:
- Public Hospitals
- Private Hospitals
- Other End Users
- Global Surgical Instrument Tracking Market, By Geography:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Global Surgical Instrument Tracking Market Trends:
- Rising adoption of HIT solutions is a recent trend
Healthcare IT solutions are being adopted or used more and more frequently as healthcare becomes more digitalized. The quality of healthcare delivery is increased, patient safety is increased, medical errors are decreased, and patient-provider communication is strengthened thanks to healthcare IT systems and services. In an effort to digitalize healthcare in India, MyHealthcare launched its MyHealthcare Enterprise Application (MHEA) for hospitals and healthcare institutions in February 2022. Over the course of the forecast, this tendency is anticipated to persist.
- Increasing number of healthcare centers is another trend
The use or adoption of surgical instrument tracking devices/systems is rising along with healthcare spending, investment in new hospitals, and the number of healthcare facilities. The American Hospital Association (AHA) reports that there were 6,093 operating hospitals in the United States as of 2020, up from 5,534 in 2016. The total number of hospital admissions was estimated to be 33.4 million, with a total cost of US$ 1.2 trillion. Throughout the predicted period, this tendency is also anticipated to persist.
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Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of Surgical Instrument Tracking Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Surgical Instrument Tracking Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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