Global Hospital Asset Management Market - 2020-2027
|醫院資產管理的全球市場 (2020∼2027年) Global Hospital Asset Management Market - 2020-2027|
|出版日期: 2020年08月27日||內容資訊: 英文|
The hospital assets management system is the structure that helps to manage and guard the hospital equipment. This structure uses computerized software systems to monitor the situation in hospital premise. The technology solutions are becoming progressively popular in the market owing to rising concerns about security. It gives competitive advantage to hospitals by positioning their campus as secure and monitored place. This system also helps to obey with regulatory standards. Mounting pressure to better manage their prevailing workforce has forced healthcare organizations across the globe to implement effective asset management solutions and technologies. Asset management is important in ensuring the safety and security of hospital employees thus reducing operational costs and capital asset expenditure.
The market is driven by the growing 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.
The use of radiofrequency identification 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. According to Pharmaceutical Security Institute (PSI), in 2016, there was a 5% increase in the number of cases of pharmaceutical counterfeiting, theft, and diversion. In 2016, 3,147 cases were reported as compared to 3,002 cases in 2015 and 2,177 cases in 2014. This factor is driving the growth of the market in the forecast period.
Efficient use of wide range of information technology-based hospital asset management solutions in various tasks such as equipment tracking, automating maintenance, observing instrument utilization rates enables smooth adoption of business analytics intelligence software in healthcare centers. This, in turn, provides substantial return on investment if compared to cost of installation of these systems. This factor is driving the growth of the market in the forecast period.
However, high cost associated with implementation of system and availability of new technologies is expected to hamper the market growth to some extent.
With the COVID-19 pandemic outbreak, the world is set to witness a huge rise in the intake of hospital asset. The rise in the number of patients in the hospital for treatment and isolation has created an urgent demand for hospital assets such as ventilators, beds, respirators, real-time location system trackers and essential medical equipment is rising. This factor will positively influence the market growth in the forecast period.
The global hospital asset market is segmented based on product by Real-Time Location Systems, Radio-Frequency Identification, Ultrasound, and Infrared. The Real-Time Location Systems segment held the largest market share due to multitasking in data capturing, visualization, integration and analysis along with reduction in capital expenditure.
A real-time location system (RTLS) provides information about the location of assets, objects, vehicles, and goods. A system comprises tags or beacons that are physically attached to the object, receivers and gateways for signal detection, and a software location engine. It operates by attaching tags and badges to objects or people through which the signals are transmitted and received by a fixed reference point. This system is extensively used to boost productivity, accuracy and operational excellence. It also enhances staff safety and provides effective logistics and supply chain operations, owing to which it is deemed beneficial for evacuation procedures and accounting for all the resources present inside a closed space.
Tags or badges use wireless technologies such as RF signals, ZigBee, Wi-Fi, ultrasound, and infrared signals for establishing communication between tags and readers and send signals to the reader/sensors of the desired locations. These readers/sensors then establish communication with middleware/software platforms that assess the data and associates useful insights for improving the productivity of their staff and enhance operational efficiency in an organization. The demand for real time location systems is anticipated to be driven by the benefits associated with it such as asset management and optimum resource utilization. Furthermore, owing to the declining prices of the components of real time location systems and rising support from the government, the market is expected to drive the growth of the market in the forecast period.
The Radio-frequency Identification segment is expected to have positive market growth due to its affordability, at-location tracking of inventory and widespread usage in supply chain management. The radio frequency identification systems are set up in the industry and comprise three important elements, which are middleware, readers, and tags. The tags are estimated to comprise leading chunk of the market and are estimated to witness major developmental activities. Both active and passive tags are gathering momentum due to rise in the use of these products in many applications in the last few years. The Radio-frequency Identification provides automatic item identification on mixed pallets, shipping & receiving applications, and helps monitor unattended items in the hospital. Technological development is expected to lower the cost of solution implementation in the next few years. Time spent on check out process can be reduced by improving the Radio-frequency Identification reading machine. Advancement in Radio-frequency Identification technology which helps in providing real-time notification to the customer if the product is out of stock on devices such as mobile.
In January 2018, Zebra Technologies Company released Zebra Smart Sense Radio-frequency Identification for use in the retail spaces in a bid to figure out and track the location of products, consumers, and associates in the stores in real-time.
Further, the market is also classified based on application as Patient Management, Staff Management, Instrument Management, and Supply Chain Management. The instrument management segment accounts for the highest market share due to its high rate of adoption of RFID and RTLS based tags to reduce the economic burden associated with theft shall leverage. The growing need for effective asset management in hospitals, expanding application areas of asset management solutions and the availability of technologically advanced products are some of the major factors driving the growth of this segment.
In October 2017, Ascom announced the launch of Ascom Digistat Vitals app which enables hospitals to reduce double documentations and reduce scoring & associated errors. This application provides faster availability of vitals and clinical scores in electronic medical records.
The Supply Chain Management account for the highest share in the global hospital asset market. Supply chain management software provides a real-time analytical platform, which manages the flow of product and information across the supply chain network. This software is designed to enhance and strengthen the supply chain operations in an organization by managing production, inventory, sourcing, transportation, and supervising the product demand. In addition, it provides better visibility to organizations with a cross-functional access, and offers exception-based process management platforms, which enable staff to micro-manage steady-state processes. This software can be customized on the basis of enterprise requirements. Its subcategories include supply chain planning, transportation management system (TMS), warehouse management system (WMS), manufacturing execution system, and others.
In February 2017, STANLEY Healthcare announced the launch of cloud-based subscription service for its Mobile View Analytics platform for asset management and environmental monitoring applications.
By region, the global hospital asset market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global hospital gowns market and is expected to grow at the highest CAGR during the forecast period. The growth of the market in the region is attributed to growing patient safety concerns, acceptance of healthcare asset management solutions in hospitals, increasing need to tackle drug counterfeiting, technologically advanced products, and the presence of key players in the region. This is stimulated by increased adoption of RTLS technologies in patient tracking, asset tracking and staff location. Majority of patient monitoring in North America is done using the RTLS based on RFID-Wi-Fi combination.
Efficient use of wide range of information technology-based hospital asset management solutions in various tasks such as equipment tracking, automating maintenance, observing instrument utilization rates enables smooth adoption of business analytics intelligence software in healthcare centers. This, in turn, provides substantial return on investment if compared to cost of installation of these systems in North America.
The Asia-Pacific region is expected to have third-largest share due to the increasing healthcare infrastructure development in this region and raising awareness about patient safety, and hygiene standards are some of the factors anticipated to drive the market. In July 2016, the King Hamad University Hospital in Bahrain installed nearly 1,200 asset tags to locate wheelchairs, ultrasound equipment, and IV pumps to improve operational efficiency and response time. Increase in installation of hospital asset management solutions for instrument management is spurring the growth of the global hospital asset management market.
In February 2018, Sonitor Technologies partnership with Stanley Healthcare. With this partnership, Stanley Healthcare will integrate Sonitor Sense (a high definition ultrasound-based IPS system) into its existing AeroScout RTLS platform.
The global hospital asset market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Ascom, Awarepoint Corporation, CenTrak, Ekahau, GE Healthcare, Honeywell International, Inc., Impinj, Inc., Sonitor Technologies, STANLEY Healthcare, and ZIH Corp are the leading market players with significant market share. The major players are using product development, novel product launches, market expansion, and product diversification strategies for holding their position in the market.
The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to expand their presence and meet the rising demand for the treatment of peripheral neuropathy across the globe. For instance,