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Hospital Asset Management Market - Major Factors Driving the Industry

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Transparency Market Research (TMR) has published a new report titled, “Hospital Asset Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global hospital asset management market was valued at US$ 5.0 Bn in 2017 and is projected to expand at a CAGR of 12.0% from 2018 to 2026. Improvement and optimization of workflow, safety, and productivity; reduction in inventory, and higher return on investment are anticipated to boost the growth of the global hospital asset management market during the forecast period.

Developed regions having better health care IT infrastructure are likely to account for major market share in terms of revenue in the next few years. Major market players are involved in continuous technological advancements through focused research and development activities, which is resulting in development of cost-effective solutions. Some of the prominent players are likely to expand their geographical presence through partnership agreements in the high growth potential developing markets during the forecast period.

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Real-time Location Systems Segment to Account for Over Half the Market Share

The report offers detailed segmentation of the global hospital asset management market based on product and application. In terms of product, the real-time location systems (RTLS) segment is poised to account for major share of the global market in terms of revenue between 2018 and 2026. Factors attributed to high market share of the segment include strong brand presence of key players offering proprietary product technologies and technical advantages such as the ability of outdoor asset tracking, information encryption service, and tamper evident sensor, among others.

Instrument Management Segment to Register Above Average Growth Rate

In terms of application, the global hospital asset management market has been categorized into patient management, staff management, instrument management, and supply chain management. The instrument management segment is anticipated to expand at a moderate growth rate during the forecast period. Intense competition between established companies as well as new entrants is likely to result in affordable asset tags during the forecast period. This in turn is expected to increase installation rate of hospital asset management solutions for instrument management.

Developing Countries Witnessing Government Support for Digitalization in Public Hospitals

Increased government focus on reducing workload of nurses and doctors and rise in focus of hospital administration to ensure patient as well as staff safety fuel the growth of the hospital asset management market in developing regions. In July 2016, the King Hamad University Hospital in Bahrain installed nearly 1,200 asset tags to locate wheelchairs, ultrasound equipment, and IV pumps to improve operational efficiency and response time. Increase in installation of hospital asset management solutions for instrument management is spurring the growth of the global hospital asset management market.

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Fragmented Market, with Tier I Players Accounting for Nearly 25.0% Market Share

The report also provides profiles of prominent players operating in the global hospital asset management market. These include Ascom, Awarepoint Corporation, CenTrak, Ekahau, GE Healthcare, Honeywell International, Inc., Impinj, Inc., Sonitor Technologies, STANLEY Healthcare, and ZIH Corp. The global hospital asset management market is significantly fragmented and tier I companies accounted for nearly 25.0% market share in 2017. Strategic partnerships for research and product development has been a characteristic trend among the major players in the global hospital asset management market.

posted Feb 11 by Rohini Chaudhari

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Transparency Market Research (TMR) has published a new report titled, “Hospital Asset Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global hospital asset management market was valued at US$ 5.0 Bn in 2017 and is projected to expand at a CAGR of 12.0% from 2018 to 2026. Improvement and optimization of workflow, safety, and productivity; reduction in inventory, and higher return on investment are anticipated to boost the growth of the global hospital asset management market during the forecast period.

Developed regions having better health care IT infrastructure are likely to account for major market share in terms of revenue in the next few years. Major market players are involved in continuous technological advancements through focused research and development activities, which is resulting in development of cost-effective solutions. Some of the prominent players are likely to expand their geographical presence through partnership agreements in the high growth potential developing markets during the forecast period.

Request Sample @ 

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1926

Real-time Location Systems Segment to Account for Over Half the Market Share

The report offers detailed segmentation of the global hospital asset management market based on product and application. In terms of product, the real-time location systems (RTLS) segment is poised to account for major share of the global market in terms of revenue between 2018 and 2026. Factors attributed to high market share of the segment include strong brand presence of key players offering proprietary product technologies and technical advantages such as the ability of outdoor asset tracking, information encryption service, and tamper evident sensor, among others.

Instrument Management Segment to Register Above Average Growth Rate

In terms of application, the global hospital asset management market has been categorized into patient management, staff management, instrument management, and supply chain management. The instrument management segment is anticipated to expand at a moderate growth rate during the forecast period. Intense competition between established companies as well as new entrants is likely to result in affordable asset tags during the forecast period. This in turn is expected to increase installation rate of hospital asset management solutions for instrument management.

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Developing Countries Witnessing Government Support for Digitalization in Public Hospitals

Increased government focus on reducing workload of nurses and doctors and rise in focus of hospital administration to ensure patient as well as staff safety fuel the growth of the hospital asset management market in developing regions. In July 2016, the King Hamad University Hospital in Bahrain installed nearly 1,200 asset tags to locate wheelchairs, ultrasound equipment, and IV pumps to improve operational efficiency and response time. Increase in installation of hospital asset management solutions for instrument management is spurring the growth of the global hospital asset management market.

Fragmented Market, with Tier I Players Accounting for Nearly 25.0% Market Share

The report also provides profiles of prominent players operating in the global hospital asset management market. These include Ascom, Awarepoint Corporation, CenTrak, Ekahau, GE Healthcare, Honeywell International, Inc., Impinj, Inc., Sonitor Technologies, STANLEY Healthcare, and ZIH Corp. The global hospital asset management market is significantly fragmented and tier I companies accounted for nearly 25.0% market share in 2017. Strategic partnerships for research and product development has been a characteristic trend among the major players in the global hospital asset management market.

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Transparency Market Research (TMR) has published a new report titled, “Hospital Asset Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global hospital asset management market was valued at US$ 5.0 Bn in 2017 and is projected to expand at a CAGR of 12.0% from 2018 to 2026. Improvement and optimization of workflow, safety, and productivity; reduction in inventory, and higher return on investment are anticipated to boost the growth of the global hospital asset management market during the forecast period. 

Developed regions having better health care IT infrastructure are likely to account for major market share in terms of revenue in the next few years. Major market players are involved in continuous technological advancements through focused research and development activities, which is resulting in development of cost-effective solutions. Some of the prominent players are likely to expand their geographical presence through partnership agreements in the high growth potential developing markets during the forecast period.

Real-time Location Systems Segment to Account for Over Half the Market Share

The report offers detailed segmentation of the global hospital asset management market based on product and application. In terms of product, the real-time location systems (RTLS) segment is poised to account for major share of the global market in terms of revenue between 2018 and 2026. Factors attributed to high market share of the segment include strong brand presence of key players offering proprietary product technologies and technical advantages such as the ability of outdoor asset tracking, information encryption service, and tamper evident sensor, among others.

Request PDF Sample of Hospital Asset Management Market Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1926

Instrument Management Segment to Register Above Average Growth Rate

In terms of application, the global hospital asset management market has been categorized into patient management, staff management, instrument management, and supply chain management. The instrument management segment is anticipated to expand at a moderate growth rate during the forecast period. Intense competition between established companies as well as new entrants is likely to result in affordable asset tags during the forecast period. This in turn is expected to increase installation rate of hospital asset management solutions for instrument management.

Developing Countries Witnessing Government Support for Digitalization in Public Hospitals

Increased government focus on reducing workload of nurses and doctors and rise in focus of hospital administration to ensure patient as well as staff safety fuel the growth of the hospital asset management market in developing regions. In July 2016, the King Hamad University Hospital in Bahrain installed nearly 1,200 asset tags to locate wheelchairs, ultrasound equipment, and IV pumps to improve operational efficiency and response time. Increase in installation of hospital asset management solutions for instrument management is spurring the growth of the global hospital asset management market.

Fragmented Market, with Tier I Players Accounting for Nearly 25.0% Market Share

The report also provides profiles of prominent players operating in the global hospital asset management market. These include Ascom, Awarepoint Corporation, CenTrak, Ekahau, GE Healthcare, Honeywell International, Inc., Impinj, Inc., Sonitor Technologies, STANLEY Healthcare, and ZIH Corp. The global hospital asset management market is significantly fragmented and tier I companies accounted for nearly 25.0% market share in 2017. Strategic partnerships for research and product development has been a characteristic trend among the major players in the global hospital asset management market.

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Smart Diabetes Management Market: Introduction

Transparency Market Research has published a new report on the smart diabetes management market. According to the report, the global smart diabetes management market was valued at ~ US$ 3.7 Bn in 2018. The smart diabetes management market is expected to expand at a CAGR of ~ 15% during the forecast period of 2019 to 2027.

Smart diabetes management devices include insulin delivery and blood glucose monitoring devices. These devices are integrated with mobile apps with the help of a USB or Bluetooth. Smart diabetes management products help improve self-diabetes management. Smart diabetes management products play an important role in maintaining blood glucose levels that are vital in the treatment of diabetes, and increase patient compliance.

The devices segment held a major share of the smart diabetes management market in 2018. It is likely to maintain its dominance during the forecast period, attributed to a surge in inclination toward self-diabetes management. The demand for smart insulin delivery and glucose level monitoring devices has been rising due to their advanced technological features such as data collection and integration with digital health solutions, and more accurate and cost-effective diabetes management. Furthermore, the introduction of new products and ease of handling of these products are anticipated to drive the devices segment of the smart diabetes management market.

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The trend of connected healthcare and healthcare IT is likely to drive the adoption of smart diabetes management devices and apps. Features of connectivity with electronic health record (HER) and electronic medical record (EMR) systems, assistance in tele medicines, and remote patient monitoring are key features that are likely to propel the smart diabetes management market in the near future. In terms of application, the type 2 diabetes segment of the smart diabetes management market is estimated to account for a major share, and expand at a rapid pace during the forecast period. Physical inactivity, change in lifestyles, and unhealthy dietary habits are causing diabetes. Expansion of the application segment is attributed to a surge in the geriatric population with a high prevalence of diabetes. For instance, According to the World Health Organization, an estimated 1.6 million deaths were caused due to diabetes in 2014, and around 8.5% of adults had diabetes, worldwide.

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Smart Diabetes Management Market: Prominent Regions

North America holds a major share of the global smart diabetes management market. The market in the region is estimated to expand at a moderate CAGR during the forecast period. The smart diabetes management market in North America is primarily driven by the early adoption of technologically-advanced products and inclination toward self-diabetes management among patients in the region. Moreover, the presence of key players with diversified product portfolios and a supportive reimbursement scenario from public and private sectors are major factors that are anticipated to boost the smart diabetes management market in the region. For instance, In March 2018, Sanofi-Aventis U.S. LLC received approval from the U. S. Food and Drug Administration for Toujeo Max SoloStar. This product approval enabled the company to strengthen its product portfolio. In February 2018, Medtronic received U.S. Food and Drug Administration approval for the Guardian Sensor 3. This product approval enabled the company to strengthen its diabetes group product portfolio. Asia Pacific accounts for a significant share of the global smart diabetes management market.

The market in the region is projected to expand at a rapid pace during the forecast period. Rise in population with high diabetes prevalence is anticipated to drive the smart diabetes management market in the region. Moreover, rising awareness about self-diabetes management is likely propel the smart diabetes management market in the region. Europe is likely to hold a notable share of the smart diabetes management market, and expand at a moderate CAGR during the forecast period. The smart diabetes management market in Europe is primarily driven by an increase in prevalence of diabetes. For instance, according to the International Diabetes Federation, an estimated 35 million people had diabetes in 2011, and the number is projected to reach 43 million by 2030. Moreover, distribution agreements among key players are likely augment the smart diabetes management market. For instance, in April 2018, Tandem Diabetes Care entered into an agreement with Movi SpA for the distribution of the t:Slim X2 insulin pump in Italy. This agreement enabled the company to expand its insulin pump options for patients and healthcare providers.

The global smart diabetes management market is moderately fragmented, with top three to four players accounting for around 40% to 50% of the global market. Key manufacturers engage in new product development, collaborations, key acquisitions, and distribution agreements. For instance, in June 2018, Medtronic plc, a leader in medical technology, launched an updated iPro (TM) 2 myLog app. It is powered by Nutrio. This app enables a patient to understand the link between meals and glucose variability. In November 2018, Insulet Corporation collaborated with Samsung Electronics America, Inc. It is the first medical device that has enabled consumers to control insulin pump therapy with the help of a smartphone, and improve diabetes management. Key developments by market players are likely to propel the smart diabetes management market.

Smart Diabetes Management Market: Key Players

Prominent players operating in the smart diabetes management market are F. Hoffmann-La Roche Ltd, Medtronic, Dexcom, Inc., Insulet Corporation, Abbott, Jiangsu Delfu medical device Co., Ltd, DIAMESCO CO., Ltd., LifeScan, Inc., Glooko, Inc., and GlucoMe.

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According to the latest research report by Transparency Market Research, the global dental consumables market is projected to witness an intense competition in its vendor landscape. The research report expects the top companies in the global market to account for the largest share. These leading companies accounted for around 62% of the overall market share in recent years. Because of their excellent brand values and affordable prices, these companies have been able to stay ahead of their competitive curve. Some of the key players in the global market for dental consumable include names such as Dentsply Sirona, Henry Schein Inc., Danaher Corporation among others. “These companies, with a view to bolster their market position, are projected to continue to adopt inorganic growth strategies such as mergers, takeovers, strategic alliances, partnerships, and acquisitions”, notes TMR analyst

According to the research report findings by TMR, the global dental consumable market is projected to show a healthy growth rate of 6.1% over the projection period ranging from 2016 to 2024. This CAGR is expected to help the global market to reach a valuation worth US$33.4 bn by the fall of year 2024. In terms of segmentation by product, the bridges and crowns are expected to take the maximum share and will show a CAGR of 7.2%. On the other hand, in terms of regional segmentation, the Europe market is expected to account for the largest share with 41.1%.

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Dental Tourism in Emerging Nations is Key Driving Factor for Market Growth

“In the past few years, there has been a growing demand for dental consumables. This demand is primarily fueled by the growing dental tourism in countries such as Turkey, Hungary, and India. Moreover, emergence of newer technologies and services have also helped in pushing the development of the global market”, notes TMR analyst. A large number of customers are now attracted to undergo dental treatments because of the cost efficiency and affordable services offered in these developing countries. In addition to this, other factors such as minimal intervention by the government, early availability of newer treatment technologies, and lower labor costs are also helping to push the development of the global dental consumables market in upcoming years.

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Success of Dental Implants is Fueling Adoption of Market

The overall development of the global dental consumables market is expected gain a solid momentum in next few years is because of the growing success rate of the new dental implants. This is particularly more successful for upper jaw treatments. This has thus led to growing adoption of several types of new procedures that consists of dental implants. Highly matured and sophisticated healthcare services in European nations such as the UK, Spain, Italy, and Greece are further expected to help the overall development of the global dental implants market.

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Surgical Robots Market: Introduction

Transparency Market Research has published a new report titled, “Surgical Robots Market”. According to the report, the global surgical robots market was valued at ~US$ 4.2 Bn in 2018 and is projected to expand at a CAGR of ~13% from 2019 to 2027.

Surgical Robots Market: Key Segments

In terms of method, the minimally invasive segment is anticipated to account for over 60% share of the market. Technological advancements allow surgeons to perform less invasive surgical procedures and increase in purchasing power of hospitals and other healthcare settings are expected to propel the minimally invasive segment during the forecast period. Demand for robots for minimally invasive surgical procedures is likely to increase during the forecast period. Efficiency of such robots is speeding up the recovery time, shorter hospital stays, increasing the accuracy & safety of surgical procedures, and less intra-operative radiation exposure to patients & healthcare providers.

Easy performance mapping and therapy customization are the major factors projected to drive demand for such robots across the globe. Research & development in the technology, design, efficiency, and safety of spine surgical robots is anticipated to present significant opportunities in the segment in the near future.

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Based on application, the gynecological and urological surgery segments accounted for major shares of the surgical robots market in terms of revenue in 2018. The segment is expected to expand at a moderate CAGR during the forecast period. Robotic surgery has developed rapidly, and its use in gynecological conditions as well. Robot-assisted surgery was approved by the U.S. Food and Drug Administration in 1999 for urologic and cardiac procedures and in 2005 for gynecological surgery. In 2018, robot technology was applied widely in gynecological surgeries such as for hysterectomy, sacrocolpopexy, myomectomy, adnexal surgery, and malignancy staging.

In terms of end user, the hospitals segment is likely to grow at a rapid pace during the forecast period, due to benefits associated with the use of surgical robots coupled with the resources and capabilities to deploy these platforms. Moreover, rise in investments in the hospital sector, particularly in developing countries, is projected to increase the number of hospitals in countries such as China, India, and Brazil, thereby boosting the need to procure surgical robotic systems.

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Surgical Robots Market: Prominent Regions

North America held the largest share of the global surgical robots market in 2018. The market in the region is driven by the presence of key players, large number of research activities, and highly structured health care industry. In terms of revenue, the U.S. is likely to dominate the surgical robots market in North America during the forecast period, owing to early adoption of technologies such as the da Vinci Surgical System, NAVIO Surgical System, Mazor X, and increase in the geriatric population. The country is projected to be the most attractive market for surgical robots, with high attractiveness index. The market in the U.S is anticipated to expand at a CAGR of ~12% during the forecast period. Increase in adoption of surgical robots by hospitals, technological advancements, rise in research & development of surgical robots for new applications, and surge in demand for rapid and safe minimally invasive surgery procedures are driving the surgical robots market in the U.S.

Asia Pacific accounted for a significant share of the surgical robots market in 2018. The market in the region is expected to grow at a rapid pace during the forecast period. Increase in investment by key players in Asia Pacific and rise in surgical procedures are likely to propel the surgical robots market in Asia Pacific. Emerging economy, government funding for research, improving healthcare infrastructure, and rise in presence of major global players in countries, such as China and India, are projected to augment the surgical robots market in the region during the forecast period.

Surgical Robots Market: Key Players

Key players are expanding their footprint to strengthen their positions in the surgical robots market. These players are collaborating with other companies to secure and strengthen their positions in the market. Additionally, regulatory approvals is expected to be a key trend going forward, leading to an increase in competition in the market. For instance, in January 2018, Medrobotics Corp. received the FDA regulatory clearance to market its Flex Robotic System for robot-assisted visualization in general surgery, gynecological, and thoracic procedures in the U.S.

Leading players in the surgical robots market include Intuitive Surgical, Inc., Smith & Nephew plc, Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., TransEnterix Surgical, Inc., Verb Surgical, Inc. (joint venture between Johnson & Johnson and Google, Inc.), Medicaroid, Inc., TINAVI Medical, and Medrobotics Corp.

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