Surgical Instrument Tracking Systems Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Healthcare resource management has gained importance with increasing concerns regarding safety and security of medical devices and instruments. Surgical instrument tracking devices help in keeping track of surgical instruments and provide comprehensive reporting to the healthcare provider. The system offers various advantages such as efficient workflow management, proper resources utilization and reduce cost. Therefore, majority of hospitals and surgical centers incorporate such systems for improving productivity and accountability of the organization.

MARKET SCOPE

The "Global Surgical Instrument Tracking Systems Market Analysis to 2031" is a specialized and in-depth study of the medical device industry with a special focus on the global market trend analysis. The report aims to provide an overview of the surgical instrument tracking systems market with detailed market segmentation by component, technology, end user, and geography. The report provides key statistics on the market status of the leading surgical instrument tracking systems market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• On the basis of component, the market is segmented into hardware, software and services.
• On the basis of technology, the surgical instrument tracking systems market is segmented into RFID and barcode.
• Based on the end user the market is segmented as hospitals and ambulatory surgical centers

MARKET DYNAMICS

Drivers

• Need to meet FDA Unique Device Identification mandates.
• Requirement for better inventory and asset management practices.

Restraints

• High system cost.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The surgical instrument tracking systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the surgical instrument tracking systems market in these regions.

IMPACT OF COVID-19 ON SURGICAL INSTRUMENT TRACKING SYSTEMS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 pandemic significantly impacted the market for surgical instrument tracking systems. According to a 2021 report by Censis Technologies, Inc., many elective surgeries were postponed due to the pandemic. However, when they resumed, operating rooms and technicians had to deal with a huge backlog, while continuing to work around COVID. This unveiled the need for effective surgical instrument tracking systems as sterile supply processing and equipment shortages became an issue..

MARKET PLAYERS

The report covers key developments in the surgical instrument tracking systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from surgical instrument tracking systems market are anticipated to lucrative growth opportunities in the future with the rising demand for surgical instrument tracking systems in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the surgical instrument tracking systems market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Censis Technologies, Inc.
• Key Surgical
• Getinge AB
• Haldor Advanced Technologies. Ltd
• Microsystems, Inc.
• BD
• B. Braun Melsungen AG
• Applied Logic, Inc.
• STANLEY Healthcare
• STERIS

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Surgical Instrument Tracking Systems Report Scope