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Surgical Instrument Tracking Systems Market Companies, Share, Forecast, Overview and Analysis by 2028

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A surge in demand for tracking surgical devices and a rise in the improvement in patient safety is boosting the market demand.

The surgical instrument tracking system market is used in the healthcare industry for tracking new technology and smartphones and tablets. The report provides detailed insights into Surgical Instrument Tracking Systems market revenue trends, industry trends, consumer trends, market size, market share, market revenue growth drivers, and forecast, along with ranging impact of each factor and driver. Healthcare resource management has gained traction with the rise in concern for the security and safety of medical instruments and devices. It also provides analysis of various factors expected to restrain or limit potential growth in Surgical Instrument Tracking Systems market size over the forecast period, 2020–2028. The report includes profiles of major Surgical Instrument Tracking Systems players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Also included are details regarding top Surgical Instrument Tracking Systems market players, manufacturers, and vendors and the various strategies being deployed in the market and objectives for these strategies.

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Global Surgical Instrument Tracking Systems market revenue growth is primarily driven by rising focus by major companies on product portfolio expansion, entry into new and untapped domestic and international markets, rising investments my top Surgical Instrument Tracking Systems market players, manufacturers, and vendors in strategic agreements and contracts, and rapidly increasing competition in the Surgical Instrument Tracking Systems market. The advent of the latest technology and usage of tracking systems in the form of bar codes has fueled market growth. It improves patient safety and fast and accurate instrument identification, resulting in an optimized process. In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Surgical Instrument Tracking Systems market share contribution of these countries. In addition, Surgical Instrument Tracking Systems market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries. The need for research centers and clinics to improve workflow is also benefitting the market demand. This has led most of the devices to include UDI in human and machine-readable form. However, factors such as budget limitations, massive cost systems, and lengthy investment cycles can hinder the growth of the market.

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Region wise performance of the Surgical Instrument Tracking Systems industry

Asia Pacific Surgical Instrument Tracking Systems market revenue registered fastest growth rate in 2020, and this trend is expected to continue over the forecast period. Asia Pacific Surgical Instrument Tracking Systems market revenue growth is driven by significant market revenue contribution from China, India, and South Korea. China is a robust hub for top Surgical Instrument Tracking Systems market players, manufacturers, and vendors, as well as easy access to raw materials and workforce at more economical costs that that of other regional markets.

North America Surgical Instrument Tracking Systems market revenue growth was relatively higher than that of other regional markets in 2020. North America Surgical Instrument Tracking Systems market revenue is expected to continue to remain dominant over the forecast period, supported by robust presence of top market players, manufacturers, and vendors, and favorable government policies and norms in countries in the region.  

Europe Surgical Instrument Tracking Systems market revenue is expected to continue to remain steady over the forecast period, attributed to changing trends in various market and robust focus on research and development initiatives by top market players, manufacturers, and vendors to expand global footprint and drive revenues and profits.

Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

  • United States
  • Europe
  • China
  • Japan
  • Southeast Asia
  • India

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Key Highlights From The Report

  • Surgical instrument tracking system hardware is gaining popularity as there is a repeat purchase of non-durable radiofrequency-identification barcode labels that require constant replacement as they are more prone to detachment during damage or washing.
  • In June 2020, Terso Solutions announced its partnership with Medical Tracking Solutions, Inc. They launched an RFID surgical loaner kit tracking solution to help the visibility for manufacturers and hospitals from the warehouse to the point of use and everything in between.
  • RFID tags are designed to resist the rigors of the healthcare industry, as well as the harsh sterilization processes, which are used to automate the Joint Commission's Universal Protocol and meet FDA UDI requirements.

The research provides answers to the following key questions:

  • What will be the growth rate and the market size of the Surgical Instrument Tracking Systems industry for the forecast period 2020-2027?
  • What are the major driving forces expected to impact the development of the Surgical Instrument Tracking Systems market across different regions?
  • Who are the major driving forces expected to decide the fate of the Surgical Instrument Tracking Systems industry worldwide?
  • Who are the prominent market players making a mark in the Surgical Instrument Tracking Systems market with their winning strategies?
  • Which Surgical Instrument Tracking Systems industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
  • What are the key barriers and threats believed to hinder the development of the industry?
  • What are the future opportunities in the Surgical Instrument Tracking Systems market?

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Table of Content

Chapter 1. Methodology Sources

    1.1. Surgical Instrument Tracking Systems Market Definition

    1.2. Research Scope 

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Surgical Instrument Tracking Systems Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2021-2028

Chapter 3. Key Insights

Continued….

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