Surgical Instrument Tracking System Market size was valued at USD 268.52Mn. in 2022 and the total Surgical Instrument Tracking System revenue is expected to grow by 15 % from 2022 to 2029, reaching nearly USD 714.28 Mn.
Surgical Instrument Tracking System Market Overview:
Surgical Instrument Tracking System Market provides a comprehensive overview of Surgical Instrument Tracking System to provide a current understanding of the market and its features. The report also includes detailed information on forecasted statistics, significant advancements, and revenue.
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Surgical Instrument Tracking System Market Scope:
The global Surgical Instrument Tracking System market report provides statistics and analytical insights to give a comprehensive understanding of the market size, share, trend, growth, demand, market player and industry profile, opportunities, value chain, end-users, types, and applications. It also includes accessible opportunities in micro and macro markets for stakeholders to invest, as well as a detailed analysis of the competitive landscape and product offerings of major competitors.
The qualitative and quantitative data in the report help decision-makers identify market segments, regions, and variables that are likely to drive the Surgical Instrument Tracking System market at a faster pace, as well as major opportunity areas. SWOT analysis, PESTLE analysis, and PORTER analysis have been used to provide an in-depth analysis of the Surgical Instrument Tracking System market.
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Regional Analysis:
The research has been conducted on each regional Surgical Instrument Tracking System market to determine its current and future growth potential. The Surgical Instrument Tracking System market report covers all five regions and their country-specific distribution. Their market size and trends are also included in the Surgical Instrument Tracking System report.
Surgical Instrument Tracking System Market Dynamics:
Errors in the processing of surgical tools lead to longer operating times, higher expenses, and a higher risk of perioperative morbidity, surgical infections, and repetitive strain injuries. One of the main causes of the necessity for surgical tool monitoring systems in hospitals to increase surgical care safety is this, along with the rising number of patients undergoing surgeries. Additionally, the market for surgical tool tracking systems would rise significantly as a result of the rising prevalence of chronic diseases including cancer, obesity, arthritis, and cardiovascular ailments as well as the aging of the population. Moreover, the main key drivers driving the surgical tool tracking systems market forward are increasing urbanization and disposable income.
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Surgical Instrument Tracking System Market Segmentation:
by Product
• Hardware
• Software
• Services
According to the Product, Three segments comprise the worldwide market for surgical instrument tracking systems: services, software, and hardware. With a revenue share of more than 45.00% in 2022, the hardware product category held the highest position. It is anticipated that the industry will maintain its dominance during the research period. New developments in hardware, like as RFID chips and barcode tags, are increasing the usage of these systems for surgical tool management and inventory control. The Wyss Institute at Harvard University, for instance, has developed a technique that uses vapor deposition and biocompatible sealant to embed RFID chips inside metal surgical equipment.
by Technology
• Barcodes
o Hospitals
o Others
• RFID
o Others
o Hospitals
The global market for surgical instrument tracking systems has been further divided into barcode and RFID segments depending on technology. The category with the largest revenue share in 2022—more than 82.00%—was barcode technology. Barcodes are the most popular type of tracking technology, and their high market revenue share can be attributed in large part to their growing application in the medical device industry. Owing to its benefits, which include low costs, robust design, and 360-degree readability, 2D barcodes—like data matrices and QR codes—are growing in acceptance within the sector.
by End-use
• Hospitals
• Others
Surgical Instrument Tracking System Market Key Players:
• Fortive Corporation
• Material Management Microsystems
• Haldor Advanced Technologies
• BD
• Getinge AB
• STERIS
• STANLEY Healthcare
• MOBILE ASPECTS
• Integra LifeSciences
• Xerafy Singapore Pte Ltd.
• B. Braun Melsungen AG
• SpaTrack Medical Limited
• Scanlan International
• CASE MEDICAL
• ASANUS Medizintechnik GmbH
• Infor
• Vizinex RFID
• ScanCARE Pty Ltd.
• TGX Medical Systems
• Censis Technologies, Inc.
• Microsystems
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Key Questions answered in the Surgical Instrument Tracking System Market Report are:
- What is the forecast period of the Surgical Instrument Tracking System Market?
- What is the growth rate of the Surgical Instrument Tracking System Market?
- What are the Surgical Instrument Tracking System Market segments?
- Which region held the largest Surgical Instrument Tracking System market share in 2022?
- What are the opportunities for the Surgical Instrument Tracking System Market?
- What factors are affecting the Surgical Instrument Tracking System market growth?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2023-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis of each segment and their sub-segments
- Landscape- Leading key players and other prominent key players.
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