Healthcare Asset Management Market Demand, Size, Share & Forecast 2032

Healthcare Asset Management Industry Perspective:

The global healthcare asset management market size was worth around USD 42.95 billion in 2023 and is predicted to grow to around USD 410.29 billion by 2032 with a compound annual growth rate (CAGR) of roughly 28.50% between 2024 and 2032. The report analyzes the global healthcare asset management market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the healthcare asset management industry.

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The report covers a forecast and an analysis of the healthcare asset management market on a global and regional level. The study provides historical data for 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes the drivers and restraints of the healthcare asset management market along with the impact they have on the demand over the forecast period. Additionally, the report consists of the study of opportunities available in the healthcare asset management market on a global and regional level.

To give the users of this report a comprehensive view of the healthcare asset management market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Healthcare Asset Management Market: Overview 

Organizations are facing various challenges, such as stringent regulatory requirements and the need for better resource management. Asset management in the healthcare sector aids in proper financial accountability and asset management. Healthcare asset management is useful in tracking surgical equipment, patients, newborns and personnel identification for treatment and audit trails, and inventory management.

Healthcare Asset Management Market: Growth Factors

The demand for pharmaceutical products, biopharmaceutical products, and medical devices are increasing rapidly due to the increasing occurrence of life-threatening diseases.

Radio frequency identification devices are being adopted worldwide by pharmaceutical and biopharmaceutical companies for effective and systematic supply chain management during production and distribution. The growing adoption of asset management solutions by healthcare service providers is likely to drive the global healthcare asset management market and the need for better management of assets over the estimated timeframe.

Other factors that are anticipated to contribute toward the growth of the healthcare asset management market globally include decreasing prices of RFID tags, stringent regulatory requirements as a good quality practice, increasing focus on brand protection to avoid drug counterfeiting, and the flourishing pharmaceutical, medical device, and biopharmaceutical industries. However, the high cost of RFID readers might hamper the healthcare asset management market growth.

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The report provides a company market share analysis to give a broader overview of the key market players. Additionally, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the healthcare asset management market on a global and regional basis.

Healthcare Asset Management Market: Report Scope

Healthcare Asset Management Market: Segmentation

The study provides a decisive view of the healthcare asset management market by segmenting the market based on product, application, end-user, and region.

By product, this market is segmented into radio-frequency identification devices (RFID), real-time location systems (RTLS), and ultrasound and infrared tags. The RFID segment is further segmented into hardware, software, and services. The hardware products include tags, readers/interrogators, antennas, and accessories. Tags are bifurcated into active and passive. Passive tags are split into low-frequency, high-frequency, and ultra-high frequency. The RTLS segment is further segmented into hardware, software, and services. The hardware segment includes tags (badges) and readers (interrogators).

By application, this market is segmented into hospital asset management and software solutions. The hospital asset management application segment is further split into equipment tracking and management, patient management, temperature and humidity control, staff management, and infection control and hand hygiene compliance. The software solutions application segment is sub-categorized into drug anti-counterfeiting and supply chain management.

Hospitals and clinics, pharmaceutical companies, biotechnology companies, and others comprise the end-user segment of the healthcare asset management market. The other segments include laboratories, the cosmetic industry, medical device companies, etc.

Healthcare Asset Management Market: Regional Analysis

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further division into major countries including the U.S. Canada, Germany, France, UK, China, Japan, India, and Brazil.

By region, North America dominated the global healthcare asset management market, with a revenue share of about 46.7%, in 2023. It is estimated that North America will retain its leading position over the forecast period owing to the growing adoption of RFID by pharmaceutical companies and decreasing prices of RFID tags. The second largest regional market in the global healthcare asset management market in 2023 was Europe. The Asia Pacific region is estimated to be a rapidly growing region in the healthcare asset management market globally, owing to the availability of cutting-edge products. The Middle Eastern and African region is anticipated to experience noticeable growth over the estimated timeframe.

Healthcare Asset Management Market: Competitive Analysis

The global healthcare asset management market is dominated by players like:

• AiRISTA Flow
• Elpas
• CenTrak, Inc.
• ThingMagic [A Novanta Company]
• Sonitor
• Stanley Healthcare
• Versus Technology, Inc.
• Zebra Technologies
• GE Healthcare
• IBM Corporation

The global healthcare asset management market is segmented as follows;

Global Healthcare Asset Management Market: By Product

• Radio Frequency Identification Devices (RFID)
  • Hardware
    • Tags
      • Passive Tags
        • Low-Frequency
        • High-Frequency
        • Ultra-High-Frequency
      • Active Tags
    • Readers/Interrogators
    • Antennas
    • Accessories
  • Software
  • Services
• Real-Time Location Systems (RTLS)
  • Hardware
    • Tags/Badges
    • Readers/Interrogators
  • Software
  • Services
• Ultrasound and Infrared Tags

Global Healthcare Asset Management Market: By Application

• Hospital Asset Management
  • Equipment Tracking and Management
  • Patient Management
  • Temperature and Humidity Control
  • Staff Management
  • Infection Control and Hand Hygiene Compliance
• Software Solutions
  • Drug Anti-Counterfeiting
  • Supply Chain Management

Global Healthcare Asset Management Market: By End-User

• Hospitals and Clinics
• Pharmaceutical Companies
• Bio-Technology Companies
• Others (Laboratories, Cosmetic Industry, Medical Devices Companies, etc.)

Global Healthcare Asset Management Market: By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa