The key factors driving the growth of the global surgical instrument tracking market include regulatory framworks, high patient well-being concerns, increasing demand for inventory management, and the urgency to increase operational effectiveness. However, factors such as high cost of technology, budgetary constraints, and lengthy investment cycles are accreditted as the challenges for the global surgical instrument tracking market.
Segmental Analysis
Based on types, the surgical instrument tracking system market is segmented into electronic tracking, barcode tracking, and radio frequency identification (RFID). Based on components, it is segmented into software, services and others. Based on end users, it is segmented into hospitals, research centers, laboratories, clinics and others.
A large number of deaths occur annually due to hospital-acquired infections; hence, installation of surgical instrument tracking systems is becoming extremely important for prevention of contagions brought on by contaminated units. Annually, around 4,500 to 6,000 surgical instruments are left in the surgical sites in U.S and additional surgeries have to be carried out in order to have them removed from the bodies of the patients. Here too, an operating instrument tracking is desired. The fatality rate of retained surgical objects is around 2% as reported by the National Center for Biotechnology Information.
Regional Analysis of Surgical Instrument Tracking System Market
North America is in the forefront of the global surgical instrument tracking system market, the market in the region is expected to grow at a steady CAGR during the forecast period. This growth can be primarily attributed to the rising need for inventory management for advanced products and presence of highly developed healthcare infrastructure in North America. Europe ranks second in the global market for surgical instrument tracking system and is likely to present lucrative growth opportunities for market players in the years to come. Meanwhile, Asia Pacific (APAC) is expected to represent the fastest growing market and closely follow North America and Europe.
The Middle East & African (MEA) region is expected to emerge as a promising market for surgical instrument tracking system as it holds favorable export opportunities for the local producers.
Surgical Instrument Tracking System Market: Competitive Landscape
Dickinson and Company (US), Censis Technologies, Becton, B. Braun Melsungen AG (Germany), Inc. (US), STANLEY Healthcare (US), Infor (US), TGX Medical Systems (US), Mobile Aspects, Inc. (US), and Key Surgical (US) are the major players in the global surgical instrument tracking system market.
Brows complete Premium Research@ https://www.marketresearchfuture.com/reports/surgical-instrument-tracking-system-market-1391
About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.