COVID-19 Impact Analysis on Healthcare RTLS Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027. The report encompasses data regarding market share and recent developments by key players. Moreover, this market report also covers regional and country markets in detail.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the healthcare rtls market include CenTrak, Impinj, Inc., Intelligent InSites, Aruba, Midmark Corporation, Sanitag, Sonitor Technologies, STANLEY Healthcare, and Teletracking Technologies. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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Market Dynamics
RTLS adoption in healthcare is on the strong rise. An inefficacy in the healthcare industry can lead to significant productivity losses and contribute to loss of life. Thus, it is essential to keeps track of people; medicines and other essentials are exceptionally advantageous in the healthcare sector. Along with improving efficiency, RTLS boosts productivity; real-time location systems (RTLS) increase patient satisfaction and more. Increased costs, decreased speed of providing healthcare services, and the need for accurate data exchange and processes control is amplifying demand for HRTLS. RTLS has gained a crucial role in healthcare systems due to its reliability. Rising automation across the healthcare domain and developing the newly emerging intelligence systems seem to create new market opportunities. However, installation and maintenance of the RTLS system cost high due to hardware, software, infrastructure, wiring, and power, which may hinder the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of healthcare rtls. The growth and trends of healthcare rtls industry provide a holistic approach to this study.
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Market Segmentation
This section of the healthcare rtls market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Offering
- Hardware
- Software
- Services
By Technology
- RFID
- Wi-Fi
- Ultra-wideband (UWB)
- Bluetooth Low Energy (BLE)
- Ultrasound
- Infrared (IR)
- Others
By Application
- Inventory/Asset Tracking & Management
- Personnel/Staff Locating & Monitoring
- Access Control & Security
- Environmental Monitoring
- Supply Chain Management & Operational Automation/Visibility
- Others
By Facility Type
- Hospital and Healthcare
- Senior Living
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Healthcare RTLS market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
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The increased market competitiveness with the emergence of startups providing innovative and customized RTLS solutions based on newer technologies is one of the major factors fueling the growth of the RTLS market.
The safety and security concerns in healthcare facilities and high return on investment are the other factors driving the growth of the market.
The need for resource utilization and workflow optimization, development of hybrid RTLS solutions, and use of IoT technology in healthcare are likely to pose major opportunities to the players in the market during the forecast period.Download Free PDF:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=19089515The hardware segment accounted for largest share of the RTLS market for healthcare in 2017.
The market share of the hardware segment is expected to decrease during the forecast period mainly because of the falling ASPs of tags and readers as the technology further matures.
Hospitals in the US and European countries have a high demand for RTLS solutions for enhancing their operations, optimizing resource utilization, and increasing profitability.
RTLS solutions provide real-time information about the location of people and assets, which helps healthcare organizations in making faster decisions and improving their operational processes.
According to the latest market research report "RTLS Market for Healthcare by Facility Type (Hospitals & Healthcare Facilities, Senior Living), Offering (Hardware, Software, Services), Technology (RFID, Wi-Fi, BLE, UWB, IR, Ultrasound), Application/Use case, and Geography - Global Forecast to 2023", The RTLS market for healthcare is expected to grow from USD 1,271.2 million in 2018 and is expected to reach USD 2,941.2 million by 2023, at a CAGR of 18.3%.The increased competitiveness in the market with the emergence of startups providing innovative and customized RTLS solutions based on newer technologies is one of the major factors fueling the growth of the RTLS market for healthcare.
Other factors driving the market growth include safety and security concerns in healthcare facilities and high return on investment.
The need for resource utilization and workflow optimization, development of hybrid RTLS solutions, and use of IoT technology in healthcare would create growth opportunities for the players in RTLS market for healthcare during the forecast period.
However, the market share of the hardware segment is expected to decrease during the forecast period mainly because of the falling ASPs of tags and readers as the technology further matures.
Although the price of hardware components of RTLS solutions is expected to decrease in the near future, the required volume of these hardware components would increase.
These advantages of UWB solutions make them an ideal choice for high-precision applications in healthcare organizations or facilities.
