United States Healthcare Asset Management Market, By Product (Radiofrequency Identification, Real-Time Location Systems and Others); By Application (Staff Management, Equipment Tracking, Patient Tracking, Supply Chain Management and Others); By End-User (

United States Healthcare Asset Management Market, By Product (Radiofrequency Identification, Real-Time Location Systems and Others); By Application (Staff Management, Equipment Tracking, Patient Tracking, Supply Chain Management and Others); By End-User (Hospitals, Laboratories and Others); Trend Analysis, Competitive Market Share & Forecast, 2022-2028

United States Healthcare Asset Management Market to Grow at a CAGR of 36.2% until 2028

United States Healthcare Asset Management Market is growing to facilitate easy tracking of beds, patients, equipment, machinery, reduce the workload on the healthcare staff, and effectively manage the consumables inventory. The growth of United States Healthcare Asset Management Market is also fueled by the aim to improve operations, control risk, reduce delays, and reduce costs in providing quality healthcare to patients in healthcare organizations.

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the United States Healthcare Asset Management Market is projected to grow at a CAGR of 36.2% during the forecast period (2022-2028). The United States Healthcare Asset Management Market is booming because of the escalating need to reduce the workload on the healthcare staff and effectively manage inventory due to the increasing incidence and prevalence of chronic diseases. Healthcare Asset Management is a highly-systematic and cost-effective system of planning, acquiring, maintaining, operating, and disposing of a healthcare organization's machinery, equipment, and physical assets. It helps to improve operations, ensure data privacy, increase awareness, control risk, reduce cost, reduce delays experienced by patients and staff, improve the profitability of the facility, reduce the chances of drug counterfeiting, and ensures patient satisfaction. Therefore, the growth of the United States Healthcare Asset Management Market is driven by the provision of improved quality of care with access to a safe, clean, and well-maintained medical environment.

Increased Patient Admissions in Hospital and Shortage of Staff to Drive Market Growth

According to the Worldometer, the USA ranks as the third largest country by population and is home to thousands of patients with chronic, lifestyle, and life-threatening diseases. To keep up with the increasing patient admissions, it is imperative to adopt a healthcare asset management system that will accurately track patients, beds, equipment, and machinery. This will prevent any confusion among the hospital staff, and the chances of patients getting skipped will be eliminated. According to an American College of Healthcare Executives survey 2021, personnel shortages are the top concern of hospital CEOs. Moreover, according to a survey by the Nursing Times, more than one-third of nurses spend at least an hour locating equipment during an average hospital shift. A novel and innovative product called radiofrequency identification (RFID) bands were introduced to facilitate patient tracking and equipment tracking. These are worn on wrists, storing all relevant information such as name, medical history, allergies, tests, etc. These systems will improve operations, reduce delays experienced by patients and staff, reduce the chances of drug counterfeiting, and eventually ensure patient satisfaction. Therefore, improving the quality of care in healthcare organizations is expected to drive the growth of the Healthcare Asset Management Market.

High Cost of Initial Installation and Implementation to Limit the Market Growth

The high cost of initial installation and implementation of the modern healthcare asset management software hinders the growth of the market. The cost for RFID can be broken down into equipment cost, installation cost, tag cost, software cost, ongoing license cost, maintenance cost, and integrator cost. Moreover, it requires appropriate infrastructure for wireless technology, which is highly cost-inclusive.

United States Healthcare Asset Management Market - By Product

Based on product, the United States Healthcare Asset Management Market is segmented into Radiofrequency Identification (RFID), Real-Time Location Systems (RTLS), and Others. Amidst the segmentation, the Radiofrequency Identification (RFID) segment accounted for the largest market share in 2021 due to the technological advancements in RFID. Moreover, the same segment is expected to grow with the highest CAGR during the forecast period 2022-2028 due to the increased technological development, incorporation of artificial intelligence, cheap costs, and tracking effectiveness.

Impact of COVID-19 on United States Healthcare Asset Management Market

As a result of the COVID-19 pandemic, the world witnessed one of the worst recessions since WW2. The United States Healthcare Asset Management market was positively affected during the Covid-19 pandemic. The demand for healthcare asset management systems increased due to increased patient admissions, shortage of staff, and lack of sophisticated tracking technology. It was difficult to track potentially exposed healthcare workers for the prevention and control of disease in the hospital setting. In April 2020, SwipeSense distributed free asset tracking tags to its hospital partners to track the usage of equipment and medications. These tags also had the ability to tell which equipment had come in contact with Covid infected patients.

Competitive Landscape

The key players operating in United States Healthcare Asset Management Market are IBM Corporation, GE Healthcare, Zebra Technologies Corporation, CenTrak Inc, Jadak-A Novanta Company, Airista Flow Inc, Sonitor Technologies, Stanley Healthcare, and other prominent players. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, acquisitions, and partnerships to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity in the United States Healthcare Asset Management Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the United States Healthcare Asset Management Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the United States Healthcare Asset Management Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary and Secondary Products
2.2. Quantitative Research
2.2.1. Primary and Secondary Products
2.3. Breakdown of Primary Research Respondents
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Industry Participants
2.5. Market Breakdown & Data Triangulation
3. Executive Summary
4. United States Healthcare Asset Management Market Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining End-use Industry of Suppliers
4.3.2. Bargaining End-use Industry of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Intensity of Rivalry
4.4. Recent Development
4.5. PESTEL Analysis
5. United States Healthcare Asset Management Market Overview
5.1. Market Size & Forecast by Value, 2018-2030
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Product
5.2.1.1. Radiofrequency Identification (RFID)
5.2.1.2. Real-Time Location Systems (RTLS)
5.2.1.3. Others
5.2.2. By Application
5.2.2.1. Staff Management
5.2.2.2. Equipment Tracking
5.2.2.3. Patient Tracking
5.2.2.4. Supply Chain Management
5.2.2.5. Others
5.2.3. By End-User
5.2.3.1. Hospitals
5.2.3.2. Laboratories
5.2.3.3. Others
6. Competitive Landscape
6.1. List of Key Players and their Offerings
6.2. Company Market Share Analysis, 2021
6.3. Competitive Benchmarking, By Operating Parameters
6.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
7. Impact of Covid-19 Across Healthcare Asset Management Market
8. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
8.1. IBM Corporation
8.2. GE Healthcare
8.3. Zebra Technologies Corporation
8.4. CenTrak Inc
8.5. Jadak-A Novanta Company
8.6. Airista Flow Inc
8.7. Sonitor Technologies
8.8. Stanley Healthcare
8.9. Other Prominent Players
9. Key Strategic Recommendations
Note:
Financial information in case of non-listed companies will be provided as per availability, and the segmentation and companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
Figure 1 United States Healthcare Asset Management Market Segmentation
Figure 2 United States Healthcare Asset Management Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 United States Healthcare Asset Management Market Size, By Value (USD Million), 2018-2028
Figure 5 United States Healthcare Asset Management Market Share, By Product, By Value, 2018-2028
Figure 6 United States Healthcare Asset Management Market Share, By Application, By Value, 2018-2028
Figure 7 United States Healthcare Asset Management Market Share, By End-User, By Value, 2018-2028
List of Tables
Table 1 United States Healthcare Asset Management Market Size, By Product, By Value, 2018-2028
Table 2 United States Healthcare Asset Management Market Size, By Application, By Value, 2018-2028
Table 3 United States Healthcare Asset Management Market Size, By End-User, By Value, 2018-2028
Table 4 IBM Company Overview
Table 5 IBM Financial Overview
Table 6 GE Healthcare Company Overview
Table 7 GE Healthcare Financial Overview
Table 8 Zebra Technologies Corporation Company Overview
Table 9 Zebra Technologies Corporation Financial Overview
Table 10 CenTrak Inc Company Overview
Table 11 CenTrak Inc Financial Overview
Table 12 Jadak-A Novanta Company Company Overview
Table 13 Jadak-A Novanta Company Financial Overview
Table 14 Airista Flow Inc Company Overview
Table 15 Airista Flow Inc Company Financial Overview
Table 16 Sonitor Technologies Company Overview
Table 17 Sonitor Technologies Financial Overview
Table 16 Stanley Healthcare Company Overview
Table 17 Stanley Healthcare Financial Overview

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