Global Surgical Instrument Tracking Systems Market to Reach US$ 732.1 Million by 2032, Bolstered by Growing Geriatric Population

April 19, 2022 | Healthcare

The latest report by IMARC Group, titled “Surgical Instrument Tracking Systems Market Report by Component (Hardware, Software, Services), Technology (Barcode Tracking, Radio Frequency Identification (RFID)), End User (Hospitals, Ambulatory Surgical Centers, Research Centers, and Others), and Region 2024-2032,” finds that the global surgical instrument tracking systems market size reached US$ 242.3 Million in 2023. Surgical instrument tracking systems assist healthcare professionals in gaining access to surgical equipment and instruments. These systems also enhance resources and tool governance, aid in performing reliable and time-saving procedures, and decrease the need for instant steam sterilization. Surgical instrument tracking systems create a detailed load of records for defective devices and provide comprehensive insights into usage patterns. Consequently, they find utilization across hospitals, healthcare clinics, private health centers, and ambulatory surgery centers (ASCs).

Global Surgical Instrument Tracking Systems Market Trends:

The market is primarily driven by the increasing number of individuals undergoing surgical procedures across the globe. The rising instances of sports injuries, accidents and cardiac arrests due to the growing prevalence of cardiovascular diseases and other chronic conditions are also fueling the market growth. Besides this, the growing need to cut costs and improve efficiency in healthcare organizations is increasing the popularity of tracking systems among healthcare providers. In addition, surgical instrument tracking systems ensure governmental compliance while automating medical equipment identification. Moreover, the growing geriatric population suffering from chronic ailments like arthritis, cancer, and obesity is also propelling the market growth. Furthermore, research and development (R&D) activities, such as the introduction of automatic identification and data capture technologies, including two-dimensional (2D) barcodes and radio frequency identification (RFID) tags, are also creating a positive outlook for the market. Looking forward, the market value is expected to reach US$ 732.1 Million by 2032, exhibiting a CAGR of 12.8% during the forecast period (2024-2032).

Market Summary:

Based on the component, the market has been segmented into hardware, software, and services.
On the basis of technology, the market has been classified into barcode tracking and radio frequency identification (RFID).
The market has been categorized based on the end user into hospitals, ambulatory surgical centers, research centers, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being Becton Dickinson and Company, Censis Technologies (Fortive), Fingerprint Medical Limited, Getinge AB, Scanlan International, Spatrack Medical Limited, Steelco S.p.A. (Miele), Steris, Ternio Group LLC, and Xerafy Singapore Pte Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Component, Technology, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Becton Dickinson and Company, Censis Technologies (Fortive), Fingerprint Medical Limited, Getinge AB, Scanlan International, Spatrack Medical Limited, Steelco S.p.A. (Miele), Steris, Ternio Group LLC and Xerafy Singapore Pte Ltd.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Surgical Instrument Tracking Systems Market to Reach US$ 732.1 Million by 2032, Bolstered by Growing Geriatric Population

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