Hospital Asset Management Market - Forecast to 2017

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Feb 05, 2014, 08:33 ET

DUBLIN, February 5, 2014 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/73lh8h/hospital_asset) has announced the addition of the "Hospital Asset Management Market - Forecast to 2017" report to their offering.

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The hospital asset management commanded the largest share of global market in 2012 growing at a CAGR of more than 20% from 2012 to 2017. RFID in healthcare dominated the market growing strongly at a CAGR of more than 17% from 2012 to 2017. RTLS (Real-Time Locating Systems) has recently attracted market leaders and investors and is expected to grow at the highest CAGR of 35.4% from 2012 to 2017.

Equipment management commanded the largest share of the applications in 2012, while staff management is expected to grow at the highest CAGR of more than 37% from 2012 to 2017 due to focus on enhanced productivity and quality of care. The global RFID (Radio Frequency Identification) tags commanded the largest share of more than 58% of the global tags market in 2012, while ultrasound tags market is expected to grow at the highest CAGR of more than 17% from 2012 to 2017.

RFID, RTLS and ultrasound & infrared tags are the various product categories of global market. Though RFID was introduced in 1970s the technology adoption in the healthcare and pharmaceuticals market majorly took place in early 2000. RFID in healthcare vertical has dominated the share with more than 60% of the global market share and strongly growing in mature markets such as Europe, North America, Japan, the South Korea, and China between 2010 and 2020. Asset management in healthcare applications such as equipment management, staff management, patient management and temperature & humidity monitoring are being preferred by practitioners. In addition, asset management also provides crucial applications in pharmaceuticals vertical such as drug counterfeiting and supply chain.

Asset management in pharmaceutical is predominantly driven by rising incidence of drug counterfeit. According to the World Health Organization, in 2012, there were 170 drug counterfeit cases in the U.S. and an estimated 10% of all pharmaceuticals across the world are believed to be counterfeit. These estimated cases were expected for annual earnings of over $32 billion globally.Considering the severity of the incidence and enhancing the patient safety organizations such as FDA strongly suggests the use of RFID as an efficient solution.

North America dominated the hospital asset management market with close to 44% of the global market share in 2012 and is expected to grow at a CAGR of 20.7% from 2012 to 2017.The North American region comprises a major share due to the large number of U.S. based RFID and RTLS technology providers and ease of access to this region. Asia is projected to grow at the highest CAGR in the next five years, due to the rising awareness and increase in investors in countries such as China, India and Japan.

Major players in the market include AeroScout, Inc. (U.S.), Ekahau, Inc. (U.S.), GE Healthcare (U.K.), Awarepoint Corporation (U.S.), IBM Corporation, (U.S.) and Siemens Healthcare (Germany).

Key Topics Covered:

1 Introduction

2 Executive Summary

3 Market Overview

4 Hospital Asset Management Market, By Products

5 Hospital Asset Management Applications Market

6 Geographic Analysis

7 Competitive Landscape

8 Company Profiles