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(Medical-NewsWire.com, February 14, 2020 ) The growth of the healthcare asset management market is driven by need for better asset management in hospitals, acceptance of asset management solutions in the pharmaceutical industry, and decline in prices of RFID Tags.
What the Market Looks Like?
Predicted to grow at a CAGR of 6.2% during the forecast period, the global Healthcare Asset Management market is estimated to reach USD 2.5 billion by the end of 2022.
“RFID Tags segment is expected to dominate the RFID products market in 2018.”
Based on type, the healthcare asset management market is segmented into tags, readers/interrogators, antennas, and accessories. In 2018, the RFID tags segment is expected to dominate the market. The growth of this market is attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the market.
“Based on type, the passive RFID tag segment is projected to grow at the highest CAGR during the forecast period.”
Based on type, RFID tags market is segmented into passive tags and active tags. In 2018, the passive RFID segment is expected to account for the largest share of the market; also, this segment is expected to register highest CAGR during the forecast period owing to the low cost of passive tags in comparison with active tags. Also, passive tags do not require an external source of energy, owing to which they are more widely adopted.
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Geographical growth scenario of Healthcare Asset Management Market
In 2018, North America is expected to dominate the market followed by Europe. The large share of this region is attributed to factors such as growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region.
Leading market players
The prominent players in the Healthcare Asset Management market include AiRISTA Flow (US), Elpas (US), CenTrak, Inc.(US), ThingMagic [A Novanta Company (US], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US), Zebra Technologies (US), GE Healthcare (US), and IBM Corporation (US).
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Mr. Sanjay Gupta