San Francisco, California, June 28, 2017: Health watchdogs have been raising concerns about the increasing prevalence of hospital-acquired infections. The Centers for Disease Control and Prevention states that these infections are responsible for nearly 90,000 deaths per year in the U.S. alone. In order to curtail the infections caused due to contaminated medical tools and to enhance the inventory management, the demand for surgical instrument tracking systems is growing significantly.
A report by TMR Research, titled “Surgical Instrument Tracking Systems Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017–2025,” offers insights into more such trends impacting the market. It provides a detailed analysis of all the important aspects of the global surgical instrument tracking systems market, including regional segmentation and vendor landscape.
The growing number of cases of instrument misplacement is stoking the growth of the global surgical instrument tracking systems market. Technological advancements have led to a reduction in the installation cost of barcodes, boosting the adoption of surgical instrument tracking systems in clinics, hospitals, and ambulatory surgery centers (ASCs). Besides this, the emergence of the radio frequency identification (RFID) technology and the development of technologically advanced hardware and software products are likely to provide a fillip to the market in the coming years.
North America and Europe will account for a substantial cumulative share in the global arena. The high acceptance of technologically advanced products, the presence of robust healthcare infrastructure, and high consumer spending on healthcare are contributing to the growth of the regions. In North America, the introduction of the unique device identification system by the Food and Drug Administration is supplementing the growth of the region. The U.S. is expected to be at the forefront of the growth of the region.
Asia Pacific, on the other hand, will hold tremendous growth opportunities during the forecast period. The rapidly improving healthcare infrastructure and increasing adoption of technologically advanced equipment, especially in emerging countries such as India and China, are propelling the growth of the region.
The global surgical instrument tracking systems market exhibits a high degree of competitive rivalry among key players. The majority of prominent participants are focusing towards strategies such as mergers and acquisitions, geographical expansion, and product innovation in order to consolidate their presence in the market. Some of the key companies operating in the global market Getinge Group, Censis Technologies Inc., Haldor Advanced Technologies Ltd., Xerafy, Materials Management Microsystems Inc., B. Braun Melsungen AG, and Becton, Dickinson, and Co.