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Healthcare Asset Management Market: Drivers, Restraints, Opportunities, and Challenges

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Nilkanth Rathod
Healthcare Asset Management Market: Drivers, Restraints, Opportunities, and Challenges

The growth of the healthcare asset management market is driven by the need for better asset management in hospitals, acceptance of asset management solutions in the pharmaceutical industry, and a decline in prices of RFID Tags.

The report segments the healthcare asset management market by product, application, and region.

Based on product, the healthcare asset management market is segmented into radiofrequency identification (RFID) devices, real-time location systems (RTLS), and ultrasound & infrared tags. Of all these product segments, the RFID devices segment is expected to account for the largest share of the healthcare asset management market in 2018. RTLS on the other hand is expected to register the highest CAGR during the forecast period owing to the higher precision and accuracy offered by RTLS for tracking and monitoring assets in healthcare facilities. 

Based on type, RFID hardware market is further segmented into tags, readers/interrogators, antennas, and accessories. RFID tags are expected to account for the largest share of the RFID hardware market in 2018. The large share can primarily be 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. 

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1195 

The dominance of the North American market 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.

While the healthcare asset management market represents significant growth opportunities, market growth may be hindered due to the high cost of RFID readers.

*** Market Drivers ***
1 Need for Better Asset Management in Hospitals
2 Acceptance of Asset Management Solutions in the Pharmaceutical Industry
3 Decline in Prices of RFID Tags


*** Market Restraints ***
1 High Cost of RFID Readers


*** Market Opportunities ***
1 IOT-Based Healthcare Asset Management (IOT-HAM)
2 Expanding Application Areas of Healthcare Asset Management Solutions
3 Technological Advancements
4 Emerging Economies


*** Market Challenges ***
1 Issue Related to Data Security and Privacy 

 

The healthcare asset management market is marked by the presence of several big and small players. AiRISTA Flow (US), Elpas (US), CenTrak, Inc. (US), ThingMagic [A Novanta Company (US], Sonitor (Norway), Stanley Healthcare (US), Versus Technology, Inc. (US). 

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