The Global Surgical Instrument Tracking Systems Market Report offers details on current and future growth trends pertaining to the business besides information on numerous regions across the geographical landscape of the Surgical Instrument Tracking Systems Market. The study includes global, regional, and country-level market size, shares, growth rate analysis (include the causes of highest and lowest peak industry analysis), product launches, latest trends, the impact of covid19 on worldwide.
Surgical Instrument
Tracking Systems Market Research Methodology overview consists of primary and secondary
research, company share analysis, model (including Demographic data,
Macroeconomic indicators, and Industry indicators i.e. Expenditure,
infrastructure, sector growth, and facilities, etc), Research Limitations, and
Revenue Based Modelling. Comprehensive analysis of Surgical Instrument Tracking
Systems Market based on current & future analysis depending on historic
data also featured in this Report.
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Industry Insights
Global surgical instrument
tracking systems market was valued at over USD 83.5 million in 2015 and is
anticipated to rise at over 19.0% during the forecast period. The major
factors, which contribute to the growth of this market are growing incidence of
hospital acquired infections and instrument misplacement. In the U.S., nearly
90,000 people die every year due to hospital-acquired infections, based on a
data by CDC. In order to prevent these infections arising out of instrument
contamination, instrument tracking system is highly useful. It is also used for
inventory management to enhance the efficiency of the staff.
Rising prevalence of
retained surgical equipment cases is another factor which is expected to
contribute to the demand for surgical instrument tracking systems in the coming
years. The fatality rate of retained surgical instruments accounted for nearly
2%, according to a study by the National Center for Biotechnology Information.
Technological advancements in the field of surgical instrument tracking
systems, such as RFID, 2D bar codes further boost the growth of this market.
Technology Insights
Barcode technology held the
largest market share in 2016. It is the most common technology used for
tracking systems and is widely used by medical device industry, thus,
contributing to the growth of this segmental revenue. Moreover, the low
installation cost associated with these barcodes also has led to increasing use
by ambulatory surgery centers and hospitals.
The RFID segment is
expected to witness lucrative CAGR over the forecast period owing to the rapid
technological advancements in the field of RFID, such as huge data storage
capacity, high durability, no requirement of line-of-sight and reusability.
End-Use Insights
In 2016, hospitals held the
largest market share owing to the retention of surgical instruments at the site
of surgery. In order to improve patient safety by tracking the instruments and
managing the inventory, hospitals increasingly use surgical instrument tracking
systems. This contributed to the growth of the segment.
Hospitals are also
anticipated to show highest growth over the forecast period. Rapid
technological advancements in the hardware and software is expected to support
the growth of this segment.
Regional Insights
In 2016, North America held
the largest market share. The U.S. Food and Drug Administration launched an
innovative device, which can detect and identify medical devices. This factor
contributed to this largest revenue growth. In addition, availability of highly
developed medical infrastructure, huge penetration of advanced technology and
rising healthcare expenditure further accelerates the growth of this regional
segment. According to CMS, total healthcare spending in the U.S. was USD 3.2
trillion in 2015, which depicted high healthcare expenditure in this country.
Asia pacific is projected
to witness attractive growth over the forecast period owing to the untapped
market of this region. Moreover, rapid investments in healthcare infrastructure
along with increasing geriatric population also contributed to the high growth of
this segment.
Table of Contents:-
Chapter
1 Methodology and Scope
Chapter
2 Executive Summary
Chapter
3 Surgical Instrument Tracking Systems: Market Variables, Trends &
Scope
Chapter
4 Surgical Instrument Tracking Systems: Product Estimates & Trend Analysis
Chapter
5 Surgical Instrument Tracking Systems: Application Estimates & Trend
Analysis
Chapter
6 Surgical Instrument Tracking Systems: End-use Estimates & Trend Analysis
Chapter
7 Surgical Instrument Tracking Systems: Industrial End-use Estimates &
Trend Analysis
Chapter
8 Surgical Instrument Tracking Systems: Regional Estimates & Trend Analysis
Chapter
9 Competitive Landscape
Chapter
10 Surgical Instrument Tracking Systems: Manufacturers Company Profiles
Top Key Players of Global Surgical
Instrument Tracking Systems Market :
Xerafy; Haldor Advanced
Technologies Ltd.; Materials Management Microsystems, Inc; Censis Technologies
Inc.; Becton, Dickinson and Company and B. Braun Melsungen AG.
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