Surgical Instrument Tracking Systems Market Report
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
The global surgical instrument tracking systems market size reached US$ 242.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 732.1 Million by 2032, exhibiting a growth rate (CAGR) of 12.8% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 242.3 Million
Market Forecast in 2032
US$ 732.1 Million
Market Growth Rate 2024-2032
12.8%
Surgical instrument tracking systems are used to manage inventory at various stages of surgical procedures to meet the unique needs of healthcare professionals and improve the quality of patient care. They ensure the accessibility of necessary instruments in real-time, which further help reduce case delays, enhance operation safety, simplify complex tasks, and manage workflow efficiently. They can also create detailed load records of defective devices and provide comprehensive insights into usage patterns. As a result, surgical instrument tracking systems are utilized in hospitals, private clinics, and ambulatory surgery centers (ASCs) to minimize medical errors in operation theatres (OTs), enhance staff productivity, and collect surgical inventory data.
Surgical Instrument Tracking Systems Market Trends:
Errors in surgical instrument processing can lead to high operative time and costs and increased risk of surgical infections, perioperative morbidity, and retained surgical item (RSI) cases. This, in confluence with the rising number of individuals undergoing surgical procedures, represents one of the major factors driving the need for surgical instrument tracking systems to improve the safety of surgical care in hospitals. In addition, the growing geriatric population with chronic ailments like cardiovascular diseases (CVDs), arthritis, cancer, and obesity is catalyzing the demand for surgical instrument tracking systems to prevent infections caused by contaminated instruments. Apart from this, several medical equipment suppliers are offering comprehensive surgical instrument tracking systems incorporated with the latest scanning software for proper central sterile supply department (CSSD) management. They are also focusing on developing systems with automatic identification and data capture technologies, such as two-dimensional (2D) barcodes and radio frequency identification (RFID) tags. This, along with the growing emphasis on better patient care and inventory management, is influencing the market positively.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global surgical instrument tracking systemsmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, technology and end user.
Breakup by Component:
Hardware
Software
Services
Breakup by Technology:
Barcode Tracking
Radio Frequency Identification (RFID)
Breakup by End User:
Hospitals
Ambulatory Surgical Centers
Research Centers
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles 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 Coverage:
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)
Key Questions Answered in This Report
The global surgical instrument tracking systems market was valued at US$ 242.3 Million in 2023.
We expect the global surgical instrument tracking systems market to exhibit a CAGR of 12.8% during 2024-2032.
The rising demand for surgical instrument tracking systems across hospital and ambulatory surgery centers to minimize medical errors in operation theatres, enhance staff productivity, and collect surgical inventory data, is primarily driving the global surgical instrument tracking systems market.
The sudden outbreak of the COVID-19 pandemic had led to postponement of numerous elective surgeries to reduce the risk of coronavirus infection upon hospital visits, thereby limiting the overall need for surgical instrument tracking systems. However, in the post-pandemic situation, the demand for surgical instrument tracking systems is increasing for numerous remote monitoring applications and to reduce interaction with healthcare professionals or medical equipment.
Based on the component, the global surgical instrument tracking systems market can be segmented into hardware, software, and services. Among these, hardware currently holds the largest market share.
Based on the technology, the global surgical instrument tracking systems market has been divided into barcode tracking and Radio Frequency Identification (RFID). Currently, barcode tracking exhibits a clear dominance in the market.
Based on the end user, the global surgical instrument tracking systems market can be categorized into hospitals, ambulatory surgical centers, research centers, and others. Among these, hospitals account for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global surgical instrument tracking systems market include 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.
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