Global Surgical Instrument Tracking Systems Market is projected to reach USD 406 million by 2026 from an estimated USD 203 million in 2021, at a CAGR of 14.9% during the forecast period. Tracking systems are gaining importance among healthcare providers due to the drive to reduce costs and increase efficiency. Ensuring better inventory and asset management practices is key to this drive. End users are focused on minimizing the loss of valuable assets and ensuring smooth workflows.
The demand for surgical instrument tracking systems is increasing as hospitals and other medical facilities strive to improve the quality of patient care. As the healthcare industry evolves and the need for more efficient and accurate tracking of medical instruments grows, so does the need for tracking systems. A surgical instrument tracking system is a system that helps healthcare providers keep track of the location and condition of their surgical instruments. It allows them to monitor the instrument’s condition, maintenance, and sterilization processes.
Surgical instrument tracking systems are becoming increasingly popular in the healthcare industry due to the various benefits they offer. They are designed to help healthcare providers keep track of their instruments, ensure they are sterilized, and prevent errors during surgery. They also help reduce the risk of medical malpractice and improve patient safety.
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The global surgical instrument tracking systems market is projected to grow at a significant rate due to the increasing demand for such systems. Factors driving the market include the growing demand for patient safety and efficiency, technological advancements, and government initiatives. Additionally, the implementation of digital health systems and the use of cloud-based technologies are expected to further drive the growth of the market.
On the other hand, the high cost of implementing and maintaining surgical instrument tracking systems is a major factor restraining the market’s growth. Additionally, the lack of technical expertise and the need for continuous training is hindering the market’s growth.
The key players in the surgical instrument tracking systems market include Fortive (US), Material Management Microsystems (US), Becton, Dickinson and Company (US), Haldor Advanced Technologies (Israel), Intelligent InSites, Inc. (US), Key Surgical, Inc. (US), Mobile Aspects (US), TGX Medical Systems (US), Xerafy (Singapore), STANLEY Healthcare (US), B. Braun Melsungen AG (Germany), Getinge AB (Sweden), Infor Inc. (US), SpaTrack Medical Limited (UK), and Scanlan International, Inc. (US). These companies are focused on expanding their product portfolio, adopting new technologies, and enhancing their customer service to gain a larger market share. Additionally, they are investing in research and development activities to develop advanced systems and improve their existing products.
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Recent Developments
- In November 2020 STERIS acquired Key Surgical to strengthen, complement, and expand STERIS’s product offerings and global reach
- In July 2020 Vizinex RFID(US) launched Flexible 6012 and Flexible 6027 RFID tags, which offer mounting flexibility, are durable, and are IP67-rated, making them ideal for tracking many types of assets in indoor settings
- In May 2020 STANLEY Healthcare partnered with CISCO. Under this partnership, STANLEY’s AeroScout Real-time Location System (RTLS) platform was fully integrated and certified with CISCO DNA Spaces—the next-gen indoor location services platform—to offer enterprise-wide visibility into the location and status of assets and people in healthcare environments.
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