Surgical Instrument Tracking Systems Market
Global Surgical Instrument Tracking Systems Market Size, Share & Trends Analysis Report by Product (Hardware, and Software), and by Technology (Barcodes, and RFID) and by End Users (Hospitals, Clinics, and Others) Forecast Period (2021-2027) Update Available - Forecast 2024-2030
The global surgical instrument tracking systems market is anticipated to grow at a significant CAGR of 15.5% during the forecast period. A surgical instrument tracking system combines scanning technology and application software to provide a solution for healthcare organizations to increase patient safety, improve operating theatre efficiency and improve CSSD management of high value surgical instruments. The primary factor contributing to the growth of the market include the establishment of a unique device identification systems in various hospitals for optising their operations. However, stringent
The high system cost of implementing an automated tracking system is restraining the market growth. The surgical instrument tracking systems requires heavy investments that encompass the cost of software and hardware, in addition with the cost of implementing barcodes/RFID readers. The overall cost of implementing surgical instruments is very high in comparison to a traditional system. However, the active RFID technology is generatinggrowth opportunityy in the market as this provides an offer with larger memory and a greater detection range. This technology is mostly used for tray level tracking.
Impact of COVID-19 Pandemic on Global Surgical Instrument Tracking Systems Market
The healthcare workers and patients of other severe disease have higher chances of getting infected by COVID-19, due to this the number of surgeries in hospitals were postponed. In accordance with the US National Library of Medicine, all the plastic surgeries were postponed in 2020 as majority of beds were reserved for COVID-19 patients and many operating rooms were converted to COVID-19 isolation intensive care ward which had hampered the market growth. According to a 2020 report by Censis Technologies, Inc., many elective surgeries were postponed due to the pandemic. However, when they resumed operating that surgeries, operating rooms and technicians had to deal with a huge backlogs of device maintainence, while continuing to work around COVID-19. Furthermore, with the rapid spread of COVID-19, there was a shortage of medical equipment as various manufactures had suspended their production..
Segmental Outlook
The global surgical instrument tracking systems market is segmented based on the product, technology, and end-user. Based on the product, the market is segmented into hardware and software. Based on the technology, the market is sub-segmented into barcodes and RFID. Based on the end-user, the market is sub-segmented into hospitals, clinics, and others.Among the end-user segment, the hospital segment holds the major share in the overall surgical instrument tracking systems market owing to the increase in installation of surgical instrument testing market in hospitals.The above-mentioned segments can be customized as per the requirements.
Global Surgical Instrument Tracking Systems Market Share by Product, 2020 (%)
The Hardware Segment Holds the Major Share in the Global Surgical Instrument Tracking Systems Market
Among the product type segmentation, the hardware segment is anticipated to dominate in surgical instrument tracking systems and will also maintain its dominance during the forecast period. The increase in the use of technological advancements in hardware and additionally purchase of non-durable RFID chips and barcodes tags are the major factors that drive the hardware segment. For instance, in July 2021, Wyss Institute, in collaboration with clinicians at Brigham and Women’s Hospital at Harvard University has developed a method that deploy RFID chips into metal surgical tools by using a vapor deposition process to deposit a dielectric material directly and biocompatible sealant for the dielectric. The entire surgical instrument testing system is comprised of the technique, RFID chips, antenna, and will visually display allows tools to be wirelessly tracked and withstand repeated sterilizations.
Regional Outlooks
The global surgical instrument tracking systems market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America is anticipated to maintain its dominance in the market during the forecast period, the program named UDI was developed to support the need of increase tracking medical devices. North America has highly developed healthcare infrastructure and quick adoption of advanced technology for surgical instrument tracking technology is anticpited to drive market.
Global Surgical Instrument Tracking Systems Market Growth, by Region 2021-2027
The Asia-Pacific Regionis Expected to Grow Fastest in the Global Surgical Instrument Tracking Systems Market.
The Asia-Pacific region is expected to grow exponentially and at the fastest growth rate during the forecast period. The medical needs in the region are continuously increasing each year and growing awareness of health issues are generating untapped growth opportunities for the market. Furthermore, the increase in the number of surgical procedures with rapidly developing healthcare infrastructures in Asia-Pacific countries, such as China, Indonesia, and India,will support the growth of the surgical instruments tracking system market in this region. China is the major contributor of the Asia-Pacific surgical instruments tracking systems market as it is a prominent leader in RFID technology.
Market Players Outlook
The major companies serving the global surgical instrument tracking systems market , FingerPrint Medical Limited, Haldor Advanced Technologies , Intelligent InSites , Johnson & Johnson Medical NV, Medtronic, Mobile Aspects, Scanlan International, and SpaTrack Medical Limited and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2020, Censis Technologies and Cantel Medical partnered to develop a differentiated endoscope reprocessing software solution, which will integrate workflow from Cantel to create the leading instrument reprocessing and scope tracking software available to the market.
The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global surgical instrument tracking systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Surgical Instrument Tracking Systems Industry
• Recovery Scenario of Global Surgical Instrument Tracking Systems Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Porter's Analysis
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. B. Braun Melsungen AG
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Becton, Dickinson and Co.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Fortive Corp.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Getinge AB
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Material Management Microsystems
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Surgical Instrument Tracking Systems Market by Product
4.1.1. Hardware
4.1.2. Software
4.2. Global Surgical Instrument Tracking Systems Market by Technology
4.2.1. Barcodes
4.2.2. RFID
4.3. Global Surgical Instrument Tracking Systems Market by End-User
4.3.1. Hospitals
4.3.2. Clinics
4.3.3. Others (Ambulatory Surgical Centers, and Research centers)
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. ASEAN
5.3.5. South Korea
5.3.6. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. ASANUS Medizintechnik Ag
6.2. Case Medical
6.3. FingerPrint Medical Ltd.
6.4. Haldor Advanced Technologies
6.5. Intelligent InSites
6.6. In Technology Distribution
6.7. Johnson & Johnson Medical NV
6.8. Koch Industries, Inc.
6.9. Medtronic
6.10. Mobile Aspects
6.11. NuTrace
6.12. Scanlan International
6.13. SpaTrack Medical Ltd.
6.14. STERIS
6.15. Stryker
6.16. Ternio Group LLC
6.17. TGX Medical Systems Inc.
6.18. Wexler Surgical
6.19. Xerafy
6.20. Zimmer Biomet
1. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS, 2020-2027 ($ MILLION)
2. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
3. GLOBAL HARDWARE FOR SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL SOFTWARE FOR SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
6. GLOBAL SURGICAL INSTRUMENT BARCODES TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL SURGICAL INSTRUMENT RFID TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION))
9. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS FOR HOSPITALS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS FOR CLINICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
13. NORTH AMERICAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
14. NORTH AMERICAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
15. NORTH AMERICAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
17. EUROPEAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
18. EUROPEAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
19. EUROPEAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
20. EUROPEAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
21. ASIA-PACIFIC SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
22. ASIA-PACIFIC SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
23. ASIA-PACIFIC SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
25. REST OF THE WORLD SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
26. REST OF THE WORLD SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
27. REST OF THE WORLD SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
28. REST OF THE WORLD SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET, 2021-2027 (%)
4. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SHARE BY PRODUCT, 2020 VS 2027 (%)
5. GLOBAL HARDWARE FOR SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SHARE BY REGION, 2020 VS 2027(%)
6. GLOBAL SOFTWARE FOR SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SHARE BY REGION, 2020 VS 2027(%)
7. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SHARE BY TECHNOLOGY, 2020 VS 2027 (%)
8. GLOBAL SURGICAL INSTRUMENT BARCODES TRACKING SYSTEMS MARKET SHARE BY REGION, 2020 VS 2027(%)
9. GLOBAL SURGICAL INSTRUMENT RFID TRACKING SYSTEMS MARKET SHARE BY REGION, 2020 VS 2027(%)
10. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SHARE BY END-USER, 2020 VS 2027 (%)
11. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS FOR HOSPITALS MARKET SHARE BY REGION, 2020 VS 2027(%)
12. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS FOR CLINCS MARKET SHARE BY REGION, 2020 VS 2027(%)
13. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS FOR OTHER END-USERS MARKET SHARE BY REGION, 2020 VS 2027(%)
14. GLOBAL SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
15. US SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
16. CANADA SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
17. UK SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
18. FRANCE SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
19. GERMANY SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
20. ITALY SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
21. SPAIN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
22. ROE SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
23. INDIA SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
24. CHINA SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
25. JAPAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
26. ASEAN SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
27. SOUTH KOREA SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
28. REST OF ASIA-PACIFIC SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
29. REST OF THE WORLD SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
