Half of Every Dollar Spent on Sponge Detection System is Captured by Radio-frequency Surgical Sponge Detection Systems: Fact.MR
Revenue from Sponge Detection Systems Continue to Grow at Over 5% across 2031, China and Australia Registers Strong Demand
The sponge detection system market survey offers exhaustive overview of key factors enabling growth across key segments, including types and processing method. It also highlights strategies adopted by vendors to increase sales in the sponge detection system market
Aug 03, 2021, 10:30 ET
NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global sponge detection system market is poised to expand at a CAGR of 4.5% during the forecast period 2021 to 2031. The global demand increases at 5.7% year on year in 2021.
Radiofrequency detection systems will emerge as the top-selling technology in the market. Fact.MR predicts the segment to account for 46% of global sales of sponge detection systems through 2031.
The retained sponges during surgeries cause undesirable impacts on a patient's health such as fistulas obstructions, bowels, readmission, prolonged hospital stay, reoperation, infection, and sometimes death.
The conventional method of preventing retention of surgical sponges is manual counting umpteen times before and a surgical procedure. This method cannot be completely trusted on because it is time-consuming and prone to human error.
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Thus, novel technologies such as radio frequency sponge detection and identification and computer-assisted sponge count devices are highly sought-after to help in the prevention and detection of retained surgical sponges.
Rising cases of errors during emergency surgeries and lack of communication between surgical staff during a surgery might result in accidents. Thus the need for sponge detection systems has increases as healthcare professionals aim at curbing the risk of errors to offer precise patient care.
According to the Centers for Medicare and Medicaid Services (CMS), retained surgical items are knowns as "never events", and CSM does not reimburse any additional medical care for treating diseases caused by retained surgical sponges. Thus, the sponge detection systems are expected to be very effective and useful during emergency surgeries.
"Leading players in the global sponge detection systems are investing in developing cost-effective solutions to compete with the alternative options available in the market," says the Fact.MR analyst.
Key Takeaways from Sponge Detection System Market Survey
- The Australia market is expected to expand at a CAGR of 4.1% and hold market share of 58.8% in Oceania as the country is witnessing increased spending in healthcare sector.
- China is likely to lead East Asia market with 47% market share in 2021 and rise at a CAGR of 4.6% through 2031 owing to rising awareness among surgeons and operating room staff about retained surgical sponges' complications.
- India will hold a significant share in the South Asia market with market value of US$6mn in 2021 due to large population base and large share of elderly population.
- The North America market is expected to remain dominant, accounting for 30.1% of global sales.
- Government initiatives to ensure improved hospital stay and patient care are bolstering demand for sponge detection systems.
- Availability of advanced healthcare facilities and continuous medical training to adhere to stringent government regulations is expected to boost sales of sponge detection systems.
- The error of leaving surgical sponges inside a patient's body causes pain and suffering. According to the report, in the U.S. alone, around 11 cases of surgical sponges are left inside a patient's body, this causes the healthcare system an average annual cost of US$2.4bn. Focus on curbing such instances will create opportunities for growth of the market.
- The COVID-19 pandemic has resulted in shortage of manpower, research and development activities, commercial production, and lockdowns. This has decreased the sales of sponge detection systems significantly all across the globe.
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Key players operating in the global sponge detection systems market are focusing on partnerships and acquisitions of smaller companies that are developing advanced sponge detection systems by incorporating radiofrequency. Manufacturers are actively adopting these strategies to expand their product footprint in postoperative surgical care sector.
For instance, Haldor Advanced Technologies Ltd. in 2018 secured a grant for its new key patent that represented continuous commitment to leadership and innovation of the RFID's surgical items track and trace market in the U.S.
Haldor Advanced Technologies in 2016 installed ORLocate SPD system in hospitals in Sydney and Queensland, NSW.
The key manufacturers in the global sponge detection system market as profiled by Fact.MR are:
- Stryker Corporation
- Medtronic plc.
- Haldor Advanced Technologies
More Valuable Insights on Sponge Detection System Market
Fact.MR, in its new report, offers an unbiased analysis of the global sponge detection system market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections in sponge detection system market with detailed segmentation:
- Computer-assisted Sponge Count Devices
- Radiofrequency Sponge Detection Systems
- Radiofrequency Identification Sponge Detection Systems
- Hand-held Sponge Detection Systems
- Bench Top Sponge Detection Systems
- Sponge Detecting Systems
- Body Scanners
- Room Scanners
- Sponge Detection Systems for Abdominal Surgeries
- Sponge Detection Systems for General Surgeries
- Sponge Detection Systems for Gastrointestinal Surgeries
- Sponge Detection Systems for Cardiac Surgeries
- Sponge Detection Systems for Gynaecology and Obstetrics Surgeries
- Sponge Detection Systems for Orthopedic & Arthroscopy
- Sponge Detection Systems for Neurology
- Sponge Detection Systems for Hospitals
- Sponge Detection Systems for Clinics
- Sponge Detection Systems for Ambulatory Surgical Centers
- North America
- South America
- East Asia
- South Asia
- Middle East & Africa
Key Questions Covered in the Sponge Detection System Market Report
- The market survey also highlights projected sales growth for sponge detection system market between 2021 and 2031
- The report offers insight into sponge detection system demand outlook for 2021-2031
- Sponge detection system market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Sponge detection system market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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