Healthcare Asset Management Market Size to Record 23.2% CAGR Through 2030

The global healthcare asset management market size was USD 13.88 billion in 2021 and is projected to reach USD 90.65 billion by 2030, exhibiting a CAGR of 23.2% during the forecast period 2022 – 2030

Asset management can be defined as a cost-efficient, highly systematic process for planning, acquiring, operating, deploying, disposing and maintaining of an asset physical in nature of the healthcare business in a medical setting. Also, asset management further supports providing healthcare facilities with the registry of asset in order to track and maintain their inventory. These further aids in decreasing costs and increasing patient care along with efficiencies based on operations management.

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An asset management solution for the healthcare industry majorly incorporates everything from ward management, facilities management, layout, intensive care, operation care, and various other facilities. Extreme utilization of assets physical in nature to increase the healthcare quality provided to the patients is an important part of a well-organized management of hospital asset. Furthermore, growing focus towards existing assets effective management along with the workforce have propelled numerous facilities of medical worldwide in order to adopt efficient management technologies and solutions of asset, therefore enlarging market growth of healthcare asset management.

Growing pressure to better manage existing staff has impelled healthcare associations across the globe to borrow effective asset management solutions and technologies. Utmost healthcare associations spend a large portion of their budget on tracking hospital equipment. Therefore, destruction of time in lost assets searching and poor practices of asset management leads to major and sever consequences. According to a study finished by the Nursing Times, nurses of with an average number of 35% spend at least an hour in locating and searching for equipment during an average hospital shift. Thus this not just impacts budgets of the healthcare but also compromises the with the patient care quality provided.

Covid-19 has caused significant disturbance to healthcare stocks, as to the world more generally. While it is assumed that utmost of the impact is likely to be brief and short term in nature similar as delays in order to limited access and elective procedures to healthcare professionals-there are likely to be some further continuing consequences. The wider adoption of technology and the move towards healthcare digitalization has been accelerated by trip restrictions related to Covid19.

Report Scope of the Healthcare Asset Management Market

Report Coverage Details
Market Size by 2030 USD 90.65 Billion
Growth Rate from 2022 to 2030 CAGR of 23.2%
Largest Market North America
Fastest Growing Market Asia Pacifc
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Product, Application, End User, Geography

Market Drivers

Need for better asset management in hospitals

Growing pressure to better manage their existing workforce has compelled healthcare organizations across the globe to adopt effective asset management solutions and technologies. Most healthcare organizations spend a large portion of their budget on tracking hospital equipment. For example, it was reported that ~USD 6 million worth of state-owned hospital equipment was found to be missing in Louisiana State University (LSU) hospitals; newly purchased equipment from the hospital were also not properly tracked. Thus, wastage of time in searching for lost assets and poor asset management practices can lead to serious consequences. According to a recent survey conducted by the Nursing Times, more than one-third of nurses spend at least an hour locating equipment during an average hospital shift. This not only impacts budgets but also compromises the quality of patient care provided.

Acceptance of asset management solutions in the pharmaceutical industry

The use of radiofrequency identification (RFID) in the pharmaceutical industry has grown in recent years. The technology has emerged to become a systematic part of supply chain management in international pharmaceutical production and distribution. Drug counterfeiting is a significant threat to healthcare systems across the globe. Over the years, the number of new cases of drug counterfeiting has grown significantly. This can primarily be attributed to the Internet-based sales of pharmaceuticals.

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Region Insights

On the basis of region, the global hospital asset management market is classified into North America, Europe, Asia Pacific, and the Rest of the world.

The North American region dominated the global market because of the rising quality of structure and the adding use of low- cost medical systems in clinical diagnostic laboratories. Also, increased technology management, the growing need for new technologies to combat fake pharmaceuticals (medicine counterfeiting), and the presence of a well- established healthcare system and a broad network of healthcare service providers will contribute to the segmental growth. Also, the Asia-Pacific region is anticipated to be the fastest growing region during the forecast period due to technological advancements in rising economies like China and India. Also, the growing demand for simple asset management software increased digitization, and adding expenditures in healthcare and expansions by the market player in the region will fuel market growth.

Some of the prominent players in the global Healthcare asset management Market include:

  • GE healthcare
  • AiRISTA Flow
  • CenTrak, Inc.
  • Siemens healthcare
  • Elpas
  • ThingMagic
  • Versus Technology, Inc.
  • Stanley Healthcare
  • Sonitor
  • Zebra Technologies
  • IBM Corporation

Segments Covered in the Report

By Product

  • Radiofrequency Identification (RFID) Devices
    • Hardware
    • Software
    • Services
  • Real-time location systems (RTLS)
    • Hardware
      • Readers/Interrogators
      • Tags/Badges
    • Software
    • Services

By Application

  • Hospital Asset Management
    • Patient Management
    • Equipment Tracking and Management
    • Temperature and Humidity Control
    • Infection Control and Hand Hygiene Compliance
    • Staff Management
  • Pharmaceutical Asset Management
    • Drug Anti-counterfeiting

By End User

  • Hospitals and Clinics
  • Pharmaceutical Companies
  • Biotechnology Companies
  • Others (Laboratories, Cosmetic Industry, Medical Devices Companies, etc.)

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Why should you invest in this report?

If you are aiming to enter the global xxx market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for xxx market are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

 Table of Content

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Healthcare Asset Management Market 

5.1. COVID-19 Landscape: Healthcare Asset Management Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Healthcare Asset Management Market, By Product

8.1. Healthcare Asset Management Market, by Product Type, 2022-2030

8.1.1. Radiofrequency Identification (RFID) Devices

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Real-time location systems (RTLS)

8.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Healthcare Asset Management Market, By Application

9.1. Healthcare Asset Management Market, by Application, 2022-2030

9.1.1. Hospital Asset Management

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Pharmaceutical Asset Management

9.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Healthcare Asset Management Market, By End User 

10.1. Healthcare Asset Management Market, by End User, 2022-2030

10.1.1. Hospitals and Clinics

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Pharmaceutical Companies

10.1.2.1. Market Revenue and Forecast (2017-2030)

10.1.3. Biotechnology Companies

10.1.3.1. Market Revenue and Forecast (2017-2030)

10.1.4. Others

10.1.4.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Healthcare Asset Management Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Product (2017-2030)

11.1.2. Market Revenue and Forecast, by Application (2017-2030)

11.1.3. Market Revenue and Forecast, by End User (2017-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.1.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.1.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.1.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.1.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.3. Market Revenue and Forecast, by End User (2017-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.6.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.6.3. Market Revenue and Forecast, by End User (2017-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.7.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.7.3. Market Revenue and Forecast, by End User (2017-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.3. Market Revenue and Forecast, by End User (2017-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.6.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.6.3. Market Revenue and Forecast, by End User (2017-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.7.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.7.3. Market Revenue and Forecast, by End User (2017-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.6.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.6.3. Market Revenue and Forecast, by End User (2017-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.7.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.7.3. Market Revenue and Forecast, by End User (2017-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.5.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.5.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.5.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.5.5.3. Market Revenue and Forecast, by End User (2017-2030)

Chapter 12. Company Profiles

12.1. GE healthcare

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. AiRISTA Flow

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. CenTrak, Inc.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Siemens healthcare

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Elpas

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. ThingMagic

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Versus Technology, Inc.

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Stanley Healthcare

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Sonitor

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Zebra Technologies

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

12.11. IBM Corporation

12.11.1. Company Overview

12.11.2. Product Offerings

12.11.3. Financial Performance

12.11.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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