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Follow on Google News | Surgical Instrument Tracking Systems Market set to reach $400 Mn by 2026, growing at a rate of 15%The surgical instrument tracking systems market growth is likely to be driven by growing demand for Inventory and Asset Management during work cycle and implementation of Unique Device Identification (UDI) regulations formed by the FDA.
Advancements in Software/Hardware Utilization Software is a crucial part of surgical instrument tracking systems due to the adoption of latest information technology systems and inventory management systems in the hospitals. However, hardware segment is expected to witness the highest growth during the forecast period due to the repetitive purchase of non-durable RFID tags/barcode labels that needs replacement. Shift Towards RFID Technology Over Traditional Barcode Methods Currently hospitals are using barcode method due to its low installation cost. On the other hand, RFID is a highly versatile technology and has many advantages over barcodes, such as they do not need line of sight, come in read/write form, etc. However, both RFID and barcode technologies have considerable limitations. Hospital Market is expected to continue Its dominance Hospitals are increasing rapidly due to the growing demand of better healthcare services, stemming from rise in population and innovations in medical technology. They have higher patient inflow and also conduct large number of surgical procedures. Rising need of comprehensive surgical instrument management solution is driving the demand of these systems amongst the hospitals. North America Leads the Adoption of Surgical Instrument Tracking Systems Market North America commands the largest share of the Surgical Instrument Tracking Systems market. The UDI regulations proposed by the US FDA, increasing number of surgeries performed, and presence of leading players in this region are the key factors supporting the market growth. Emerging economies such as India and China, as well as countries in the Middle East, Latin America, and Southeast Asia, are also anticipated to grow significantly over the forecast period. Competitive Landscape Analysis: Surgical Instrument Tracking Systems Market The leading industry players operating in the Surgical Instrument Tracking Systems market are Fortive Corporation, BD, Censis Technologies, Steris PLC and STANLEY Healthcare. Other promising players operating in this market are Syrma Technology, Xerafy, Getinge AB, B. Braun Melsungen AG, among others. Get Customized Report on Surgical Instrument Tracking Systems Market @ https://meditechinsights.com/ End
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