The new Surgical Instrument Tracking Systems Market report offers a comprehensive study of the current scenario of the market including major market dynamics. Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country. Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.
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 surgical instrument tracking systems market include Censis Technologies, Inc., Spatrack Medical Limited, Xerafy Singapore Pte Ltd., Fingerprint Medical Limited, Getinge AB, B. Braun Melsungen AG, BD, Haldor Advanced Technologies, Microsystems, INC, Ternio Group LLC. 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
The surgical instrument monitoring systems market is being propelled ahead by the increasing number of worldwide surgical procedures. The necessity to comply with FDA Unique Device Identification standards, the need for better inventory and asset management techniques, and the growth of the surgical tools market are all driving the Surgical instrument tracking systems market forward. Market players' strategic actions will boost the surgical instrument tracking systems market's growth prospects even more. As the number of devices covered by Unique Device Identification (UDI) continues to grow, demand for solutions that enable compliance, such as surgical tool tracking systems, is expected to rise. The growing prevalence of surgical tool misplacement and the rising number of cases of hospital-acquired infections are driving the surgical instrument tracking system market. Hence, the surgical instrument tracking system market is being driven by the need to minimize disease caused by contaminated tools and the need for better inventory management. However, during the projection period, high system costs, long investment cycles, and a lack of ROI realization are projected to limit the market's 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 surgical instrument tracking systems. The growth and trends of surgical instrument tracking systems industry provide a holistic approach to this study.
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Market Segmentation
This section of the surgical instrument tracking systems 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 Product
· Hardware
· Software
· Services
By Technology
· Barcodes
· Hospitals
· Others
· Rfid
· Hospitals
· Others
By End-Use
· Hospitals
· Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Surgical Instrument Tracking Systems 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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Global surgical instrument tracking systems market was valued at over USD 83.5 million in 2015 and is anticipated to rise at over 19.0% during the forecast period.
In the U.S., nearly 90,000 people die every year due to hospital-acquired infections, based on a data by CDC.
It is also used for inventory management to enhance the efficiency of the staff.Rising prevalence of retained surgical equipment cases is another factor which is expected to contribute to the demand for surgical instrument tracking systems in the coming years.
The fatality rate of retained surgical instruments accounted for nearly 2%, according to a study by the National Center for Biotechnology Information.
Software held the largest market share in 2016 and is projected to witness lucrative growth over the forecast period.
This further facilitates inventory management and delivers ongoing assistance through phone.The hardware segment is expected to showcase significant growth over the forecast period.
