Surgical Instrument Tracking Systems Market Anticipated To Reach $442.9 Million By 2025: Grand View Research, Inc.

March 16 23:36 2017
Grand View Research, Inc. – Market Research And Consulting.
According to new report by Grand View Research,The global surgical instrument tracking systems market size was valued at over USD 83.5 million in 2015, rising adoption of medical devices and instrument tracking products by private and public hospitals to act as a major factor contributing to the growth of the market.

The global surgical instrument tracking systems market is expected to reach a value of USD 442.9 million by 2025, according to a new report by Grand View Research, Inc. Increasing incidence of surgical instruments being left behind after surgery is the most significant factor anticipated to boost the market growth during the forecast period. Annually in the U.S, around 4,500 to 6,000 surgical instruments are left in the surgical sites, which results in the need of additional surgery for removal of retained devices from the body. This in turn results in the need for operating instrument tracking products.

Rising adoption of medical devices and instrument tracking products by private and public hospitals is another major factor contributing to the growth of the market. The inventory management and tracing of medical devices and instruments during work cycle, such as during sterilization procedures, surgery, and post-surgery, is a major problem faced by the hospitals. Thus, the need of medical devices and instrument tracking systems is growing at high rate, which is expected to propel the growth of the sector.

Access full research report on global surgical instrument tracking systems market:
http://www.grandviewresearch.com/industry-analysis/surgical-instrument-tracking-systems-market

Further key findings from the study suggest:

  • As a result of low installation cost and ease of handling, barcode technology was the largest grossing segment of the surgical instrument tracking systems market in 2015.

  • The software solutions segment was the highest revenue-generating segment in 2015, owing to increasing technological advancement in software solutions.

  • In 2015, hospitals segment held the largest revenue share in the market, owing to the increasing adoption of track-and-trace for inventory management and surgical instruments tracing to provide better patient safety.

  • North America held the largest share of the surgical instrument tracking systems market in the year 2015. This region is expected to uphold its dominance during the forecast period.

  • Highly developed healthcare infrastructure and availability of advanced products is anticipated to drive the demand for medical device and instruments tracking products in North America during the forecast period

  • Some of the key players include Censis Technologies, Inc.; Materials Management Microsystems, Inc.; Haldor Advanced Technologies. Ltd.; Xerafy; B. Braun Melsungen AG; Getinge Group; and Becton, Dickinson and Company

View more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/medical-devices

Grand View Research has segmented the surgical instrument tracking systems market on the basis of product, technology, end use, and region:

Surgical Instrument Tracking Systems Product Outlook (Revenue, USD Million; 2014 -2025)

  • Hardware

  • Software

  • Services

Surgical Instrument Tracking Systems Technology Outlook (Revenue, USD Million; 2014 – 2025)

  • Barcodes

  • RFID

Surgical Instrument Tracking Systems End-Use Outlook (Revenue, USD Million; 2014 -2025)

  • Hospitals

  • Others

Surgical Instrument Tracking Systems Regional Outlook (Revenue, USD Million; 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

Read Our Blog: Surgical Instrument Tracking Systems Market Insights: An Effective Solution for Patient Safety

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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