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Global Surgical Instrument Tracking Systems Market to Reach US$ 426.4 Million by 2027, Bolstered by Growing Geriatric Population

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Surgical Instrument Tracking Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global surgical instrument tracking systems market reached a value of US$ 183.4 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 426.4 Million by 2027 exhibiting a CAGR of 14.30% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

 

 
 

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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 systems market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technology and end user.

Breakup by Component:

  • Hardware
  • Software
  • Services
     

Breakup by Technology:

 

 
 

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  • Barcode Tracking
  • Radio Frequency Identification (RFID)
     

Breakup by End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Research Centers
  • Others
     

Breakup by Region:

 

 
 

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  • 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 Inc. (Fortive), Fingerprint Medical Limited, Getinge AB (Carl Bennet AB), Haldor Advanced Technologies Ltd., Scanlan International, Spatrack Medical Limited, Steelco S.p.A. (Miele), Steris Corporation, Ternio Group LLC, TGX Medical Systems and Xerafy Singapore Pte Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
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 Inc. (Fortive), Fingerprint Medical Limited, Getinge AB (Carl Bennet AB), Haldor Advanced Technologies Ltd., Scanlan International, Spatrack Medical Limited, Steelco S.p.A. (Miele), Steris Corporation, Ternio Group LLC, TGX Medical Systems and Xerafy Singapore Pte Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Surgical Instrument Tracking Systems Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Hardware
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Software
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Services
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Technology
    7.1    Barcode Tracking
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Radio Frequency Identification (RFID)
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by End User 
    8.1    Hospitals
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Ambulatory Surgical Centers
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Research Centers
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Becton Dickinson and Company
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Censis Technologies Inc. (Fortive)
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
        14.3.3    Fingerprint Medical Limited
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Getinge AB (Carl Bennet AB)
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    Haldor Advanced Technologies Ltd.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    Scanlan International
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    Spatrack Medical Limited
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    Steelco S.p.A. (Miele)
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Steris Corporation
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Ternio Group LLC
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
        14.3.11    TGX Medical Systems
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
        14.3.12    Xerafy Singapore Pte Ltd.
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Surgical Instrument Tracking Systems Market: Major Drivers and Challenges
Figure 2: Global: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Surgical Instrument Tracking Systems Market: Breakup by Component (in %), 2021
Figure 5: Global: Surgical Instrument Tracking Systems Market: Breakup by Technology (in %), 2021
Figure 6: Global: Surgical Instrument Tracking Systems Market: Breakup by End User (in %), 2021
Figure 7: Global: Surgical Instrument Tracking Systems Market: Breakup by Region (in %), 2021
Figure 8: Global: Surgical Instrument Tracking Systems (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Surgical Instrument Tracking Systems (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Surgical Instrument Tracking Systems (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Surgical Instrument Tracking Systems (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Surgical Instrument Tracking Systems (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Surgical Instrument Tracking Systems (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Surgical Instrument Tracking Systems (Barcode Tracking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Surgical Instrument Tracking Systems (Barcode Tracking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Surgical Instrument Tracking Systems (Radio Frequency Identification (RFID)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Surgical Instrument Tracking Systems (Radio Frequency Identification (RFID)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Surgical Instrument Tracking Systems (Hospitals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Surgical Instrument Tracking Systems (Hospitals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Surgical Instrument Tracking Systems (Ambulatory Surgical Centers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Surgical Instrument Tracking Systems (Ambulatory Surgical Centers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Surgical Instrument Tracking Systems (Research Centers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Surgical Instrument Tracking Systems (Research Centers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Surgical Instrument Tracking Systems (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Surgical Instrument Tracking Systems (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: North America: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: North America: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: United States: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: United States: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Canada: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Canada: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Asia-Pacific: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Asia-Pacific: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: China: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: China: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Japan: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Japan: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: India: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: India: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: South Korea: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: South Korea: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Australia: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Australia: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Indonesia: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Indonesia: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Others: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Others: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Europe: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Europe: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Germany: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Germany: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: France: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: France: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: United Kingdom: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: United Kingdom: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Italy: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Italy: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Spain: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Spain: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Russia: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Russia: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Others: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Others: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Latin America: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Latin America: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Brazil: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Brazil: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Mexico: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Mexico: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Middle East and Africa: Surgical Instrument Tracking Systems Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Middle East and Africa: Surgical Instrument Tracking Systems Market: Breakup by Country (in %), 2021
Figure 74: Middle East and Africa: Surgical Instrument Tracking Systems Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Global: Surgical Instrument Tracking Systems Industry: SWOT Analysis
Figure 76: Global: Surgical Instrument Tracking Systems Industry: Value Chain Analysis
Figure 77: Global: Surgical Instrument Tracking Systems Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Surgical Instrument Tracking Systems Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Surgical Instrument Tracking Systems Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Surgical Instrument Tracking Systems Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 4: Global: Surgical Instrument Tracking Systems Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 5: Global: Surgical Instrument Tracking Systems Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Surgical Instrument Tracking Systems Market: Competitive Structure
Table 7: Global: Surgical Instrument Tracking Systems Market: Key Players

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Key Questions Answered in This Report

The global surgical instrument tracking systems market was valued at US$ 183.4 Million in 2021.

We expect the global surgical instrument tracking systems market to exhibit a CAGR of 14.30% during
2022-2027.

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 Inc. (Fortive), Fingerprint Medical Limited, Getinge AB (Carl
Bennet AB), Haldor Advanced Technologies Ltd., Scanlan International, Spatrack Medical Limited,
Steelco S.p.A. (Miele), Steris Corporation, Ternio Group LLC, TGX Medical Systems, and Xerafy Singapore
Pte Ltd.

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