Global Surgical Instrument Tracking Market To Record Robust Compound Annual Growth Rate During Forecast Period : Fact.MR

The surgical instrument tracking market is estimated to record an impressive CAGR of 18% and reach a valuation of approximately US$ 1,294.89 Mn through 2032. In terms of revenue share, North America dominates the market with a contribution of nearly 38% in 2022.

The market reached a valuation of US$ 215.01 Mn in 2021, experiencing a Y-o-Y expansion rate of 15% from 2020. Integration of scanning technologies such as RFID or barcode scanning along with software services for inventory management are providing significant traction to the widespread deployment of surgical instrument tracking systems.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Surgical Instrument Tracking Consoles market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Surgical Instrument Tracking Consoles

This newly published and insightful report sheds light on Market Insights of Surgical Instrument Tracking Consoles, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Surgical Instrument Tracking Consoles Market.

A comprehensive estimate on the surgical instrument tracking market has also been considered through an optimistic scenario as well as conservative scenario regarding sales of surgical instrument tracking in the forecast period. Price point comparison by regions with global average price are also considered in the study.

Surgical Instrument Tracking Market: Segmentation

Fact.MR has studied the surgical instrument tracking market with detailed segmentation on the basis of product, technology, end-user, and key regions.

Product

  • Instrument Tracking Console
  • Software
  • Endoscope Tracking and Management System
  • Surgical Instruments Tracking Systems
  • Services

Technology

  • Barcode Scanning Based Systems
  • RFID Based Systems

End-User

  • Hospital Sterile Processing Department (SPD)
  • Hospital Operation Theaters
  • Ambulatory Surgical Centers
  • Office-Based Specialized Clinics

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Takeaways from the Market Study

  • By product, surgical instrument tracking software to constitute over 60% revenue through 2032
  • RFID-based surgical instrument tracking to experience a staggering 18.4% CAGR
  • Surgical instrument tracking for hospital operation theatres to accumulate 1/3rd revenue share
  • Adoption by office-based specialized clinics likely to surge over 5x through 2032
  • North America to generate 38.5% of global surgical instrument tracking revenue
  • Asia Pacific to be the fastest growing market, clocking a 19% CAGR
  • Global market for surgical instrument tracking to be valued at US$ 247.41 Mn in 2022

“With the expansion of the healthcare industry worldwide, hospitals and other providers are looking to streamline workflows by automating monitoring and stockpiling of surgical instruments, providing impetus to surgical instrument tracking systems,” comments a Fact.MR analyst

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

  • In October 2020, Steris- a seller of infection prevention, surgical equipment and other hospital products has acquired Key Surgical in a US$850 million deal that adds complementary product lines and expands its geographic reach.
  • Getinge AB and Intelligent InSites, Inc. have developed T-DOC 2000 surgical instrument traceability system. The solution supports the sterile supply workflow of instruments, consumables, and implants, from reprocessing, inventory and logistics to use.

Key Question answered in the survey of Surgical Instrument Tracking Consoles market report:

  • Sales and Demand of Surgical Instrument Tracking Consoles
  • Growth of Surgical Instrument Tracking Consoles Market
  • Market Analysis of Surgical Instrument Tracking Consoles
  • Market Insights of Surgical Instrument Tracking Consoles
  • Key Drivers Impacting the Surgical Instrument Tracking Consoles market
  • Which are the Key drivers impacted by Surgical Instrument Tracking Consoles market
  • Restraints Shaping Market Growth
  • Market Survey of Surgical Instrument Tracking Consoles

More Valuable Insights on Surgical Instrument Tracking Consoles Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Surgical Instrument Tracking Consoles, Sales and Demand of Surgical Instrument Tracking Consoles, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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