Skip to main content

Surgical Instrument Tracking System Market Therapeutic Development and Professional Insights 2020

Surgical Instrument Tracking System Market Overview
The substantial market growth is the result of the rising incidence of retained surgical instruments in the human body after surgery as well as instrument misplacement. The National Center for Biotechnology Information (NCBI) has to say that due to retained surgical objects, the fatality rate is now close to 2%. This number clearly points towards the need for advanced technologies like 2D barcodes and RFID for tracking retained instruments for patients still in the operation theater.
The surge in the adoption rate of instrument tracking system by hospitals results in market growth. At present, hospitals face major issues in the form of tracing medical devices as well as inventory management during the work cycle such as surgery, storage, sterilization procedures, and post-surgery. Instigated by these challenges, hospitals are now adopting innovative technologies for keeping track of such equipment and systems, which is expected to do wonders for the market. Case in point is St. Joseph’s Hospital and Medical Clinic (Arizona), which has started using IMPRESS instrument management system that has helped save more than USD 1.0 million in repair, instrument purchasing costs and refurbishment annually.
surgical instrument tracking system could expand at a CAGR of 18% during the forecast period (2018-2027), suggests Market Research Future (MRFR).
The imminent market expansion could also be in response to the rising need for inventory management along with the implementation of Unique Device Identification (UDI) regulations by the FDA. Technological innovations combined with the efforts from governments for uplifting the use of these devices is also poised to favor market growth in the years to come.
Major Esteemed Key Players
Vizbee RFID Solutions, Xerafy, Millennium Surgical Corp Applied Logic, Inc., Braun Melsungen AG BD, Intelligent InSites, Key Surgical, Mobile Aspects Inc., STANLEY Healthcare, JJ International Instruments, Infor, Roboz Surgical Instrument Co., Microsystems, Inc., Haldor Advanced Technologies, GEISTER MEDIZINTECHNIK GmbH, ESI, Censis Technologies, Inc., Katalyst Surgical, LLC, TGX Medical Systems, are some of the esteemed companies in the worldwide surgical instrument tracking system market.
Market Segmentation
The worldwide market for surgical instrument tracking system has been segmented on the basis of types, end-users, and component.
Type-wise, the market includes electronic tracking, barcode tracking, Radio Frequency Identification (RFID), and others.
The end users profiled in the MRFR report are clinics, hospitals, laboratories, research facilities, and others.
With respect to component, the segments include software, services, and others.
Regional Analysis
The surgical instrument tracking system market is split across the regions of Asia Pacific, Middle East and Africa, North America, and Europe.
North America presides over the global surgical instrument tracking system market, with the United States (USA) as the most significant contributor to the said growth. Availability of high-quality products along with established healthcare infrastructure drives the demand for surgical instrument tracking system in the region. The robust product demand in North America is the result of UDI regulations by FDA that raises the adoption rate for surgical instrument tracking system.
Europe thrives as the second most lucrative surgical instrument tracking system market. Factors instrumental in market growth could be the growing medical tourism and rising healthcare privatization in the region. The regional market also gets a considerable boost from the continually expanding population base and the emergence of high-quality and sophisticated healthcare infrastructure.
Browse Complete Premium Research along with Detailed TOC at: https://www.marketresearchfuture.com/reports/surgical-instrument-tracking-system-market-1391
Asia Pacific could expect to rise at the highest rate in the given timeframe owing to abundant untapped opportunities for vendors. The status of the healthcare industry in APAC is noting a tremendous surge, even more than the one in the Americas and Europe. This factor aids in market growth as well. The burgeoning geriatric population and the rapidly increasing healthcare infrastructure in India and China are presumed to favor the overall regional market growth in the years ahead.
Surging healthcare costs and high health expenditure have resulted in an abysmal performance of the Middle East and Africa market. To make matters worse, weak economy and dismal financial backup for healthcare hamper the market growth. However, North Africa holds some potential in terms of export for the regional producers, which could work in favor of the market during the conjectured period.
About Market Research Future: MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future
+1 646 845 9312
Labels:

Comments

Post a Comment

Popular posts from this blog

Hemifacial Spasm Market Application Scope, Types, Technology Benefits and Global Business

  Hemifacial Spasm Market  Research Information: By Diagnosis (Mri, Ct Or Cat Scan, Angiography (Arteriography)), Treatment (Medical Treatment, Surgical Treatment, Combinational Therapy, Tens, Physical Therapy, Others), End User – Global Forecast Till 2023 Market Highlights: Hemifacial spasm is a condition that causes frequent muscle spasms, on one side of the face. The condition can affect both men and women, but it is most prevalent in middle-aged or older women. Its incidence rate is also found to be higher among the Asian population. A number of factors such as increasing technological advancements, rising public awareness, increased incidence of craniofacial tremor, and facial chorea, unmet medical needs, increasing government assistance, improving regulatory framework, increasing adoption rate, and improvement in funding and reimbursement policies are propelling the growth of the global hemifacial spasm market. However, difficult diagnosis, cost of treatment, side-effect...
Post a Comment
Read more

U.S. Uterine Fibroid Market Latest Devices, Key Players Statistics Data, Regional Business Outlook 2022

U.S. Uterine Fibroid Market by Type (Subserosal Fibroids, Intramural Fibroids, Submucosal Fibroids and others), by Diagnosis (Medical Resonance Imaging (MRI) scanners, Computed Tomography (CT), Ultrasounds and others) and Treatment (Uterine Fibroid Embolization, Magnetic Resonance Guided Focused Ultrasound, Myolysis, Endometrial Ablation, Hysterectomy and Myomectomy) - Forecast to 2022 The  US Uterine Fibroid Market  report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report Major Key Players To gain a substantially large competitive advantage, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch. These are the Top Market...
Post a Comment
Read more

Global Merkel Cell Carcinoma Market Clincial Assessment and Professional Industry Outlook 2023

  Global Merkel Cell Carcinoma Market  Research Report: By Diagnosis (Physical Examination, Sentinel Node Biopsy, Imaging Test), Treatment (Surgery, Radiation Therapy, Chemotherapy), End User (Hospitals & Clinics, Diagnostic Centers) – Forecast till 2023 Market Highlights Increasing prevalence of Merkel cell carcinoma and growing geriatric population are estimated to be the major drivers for the market growth during the forecast period. Moreover, increasing R&D expenses by the key market players, rising mortality rate by MCC, and growing healthcare expenditure is further boosting the market growth. However, the high cost of therapeutics and related side effects along with the lack of awareness and low per capita healthcare expenditures in the developing economies restrains the market growth.  Intended Audience Pharmaceutical Companies Biotechnological Institutes Government and Private Laboratories Research and Development (R&D) Companies Medical Research Labor...
Post a Comment
Read more