Surgical Instruments Tracking Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented by Component (Hardware, Software, Services), By Technology (Barcode Systems, Radio Frequency Identification Devices (RFID) Systems, Internet of Things (IoT)), By End User (Hospitals, Ambulatory Surgical Centers, Others), By Region and Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSurgical Instruments Tracking Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented by Component (Hardware, Software, Services), By Technology (Barcode Systems, Radio Frequency Identification Devices (RFID) Systems, Internet of Things (IoT)), By End User (Hospitals, Ambulatory Surgical Centers, Others), By Region and Competition
According to a report published in January 2022 by the International Society of Aesthetic Plastic Surgery, the top five surgical procedures performed worldwide in aesthetics in 2020 were Breast Augmentation (1,624,281), Liposuction (1,525,197), Eyelid Surgery (1,225,540), Rhinoplasty (852,554), and Abdominoplasty (765,248).
Increasing Number of Surgical Procedure
Between two and three million people are injured in motor vehicle crashes on U.S. roads every year. In 2019, the injury rate per 100,000 population stood at 835.
Growing Development of Infrastructure in Healthcare Sector
Growing number of individuals undergoing surgical operations is the main reasons for the need for surgical tool monitoring systems in hospitals to improve surgical care safety. Similarly, the growing incidence of chronic diseases such as cardiovascular disorders, cancer, arthritis, and obesity, as well as the growing elderly population, would have a significant impact on the growth of the surgical tool tracking systems market. Also growing demand for patient care management will further boost the market growth during the forecast period. Detego, a business intelligence solutions provider for fashion retailers, has released the newly developed RFID based management software with a new feature called as Smart Shield. This new technological advancement utilizes machine learning to accurately determine the relative location of individual RFID tags, which will drastically improve costs and process efficiencies for retailers implementing RFID, resulting in propelling the market growth. Technological advancements such as the integration of artificial intelligence and machine learning in surgical instruments tracking devices are driving the growth of the market. These technologies help in improving the accuracy and efficiency of the devices. Governments across the world are taking initiatives to improve healthcare infrastructure, which is driving the growth of the surgical instruments tracking devices market. For instance, in the US, the Affordable Care Act has led to an increase in the number of insured individuals, which has resulted in a rise in the number of surgical procedures. Ultrasonic sensors can be embedded in surgical instruments to track their location and movement in real-time. This technology can also be used to detect the presence of instruments that may have been accidentally left inside a patient. Barcodes can be attached to surgical instruments and scanned using handheld devices to track their location and usage. This technology can also be used to ensure that the correct instruments are used for a particular procedure. Computer vision technology uses cameras and machine learning algorithms to track surgical instruments in real-time. This can help prevent instruments from being left inside a patient by alerting the surgical team if an instrument is missing at the end of a procedure.
Recent Developments
- In October 2020, Steris- a seller of infection prevention, surgical equipment, and other hospital products has acquired Key Surgical in a US$850 million deal that adds complementary product lines and expands its geographic reach.
- In 2020, Vizient, Inc. launched its new RFID-enabled surgical instrument tracking system, which provides real-time tracking of surgical instruments during procedures. The system also offers integration with EHRs and other healthcare systems.
- In 2019, Xerafy launched its new RFID-enabled surgical instrument tracking system, which offers enhanced accuracy and efficiency in tracking surgical instruments. The system also offers integration with EHRs and other healthcare systems.
- In 2018, Haldor Advanced Technologies launched its new RFID-enabled surgical instrument tracking system, which uses advanced machine learning algorithms to improve the accuracy and efficiency of tracking surgical instruments. The system also offers integration with EHRs and other healthcare systems.
- In 2018, Mobile Aspects launched its new RFID-enabled surgical instrument tracking system, which offers real-time tracking of surgical instruments during procedures. The system also offers integration with EHRs and other healthcare systems.
Market Segmentation
The global surgical instruments tracking devices market can be segmented by component, by technology, by end user and by region. Based on component, the market can be segmented into Hardware, Software, Services. Based on technology, the market can be segmented into Barcode Systems, Radio Frequency Identification Devices (RFID) Systems, Internet of Things (IoT). Based on end user, the market can be differentiated into Hospitals, Ambulatory Surgical Centers, Others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, United States dominated the global surgical instruments tracking devices market on account of the increasing rate of accidental injuries along with the high rate of adoption of surgical instruments tracking devices by hospitals in every country. y.
Market Players
ASANUS Medizintechnik GmbH, Becton, Dickinson, and Company, B. Braun Melsungen AG, FingerPrint Medical Limited, Fortive Corporation, Getinge AB, Integra Lifesciences Holding Corporation, Murata Manufacturing Co., Ltd, Stanley Black & Decker, Inc., Steris plc. are some of the leading players operating in the Global Surgical Instruments Tracking Devices Market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · By Component · By Technology · By End User · By Region |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; France; Germany; United Kingdom; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE |
| Key companies profiled | ASANUS Medizintechnik GmbH, Becton, Dickinson, and Company, B. Braun Melsungen AG, FingerPrint Medical Limited, Fortive Corporation, Getinge AB, Integra Lifesciences Holding Corporation, Murata Manufacturing Co., Ltd, Stanley Black & Decker, Inc., Steris plc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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