Surgical Instrument Tracking Systems Market

The Surgical Instrument Tracking Systems Market is valued at USD 193.8 Million in 2021 and is expected to reach USD 513.1 Million by 2028 with a CAGR of 14.92% over the forecast period.

Global Surgical Instrument Tracking Systems Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028: Increasing demand for tracking the status of surgical devices and the need for improvement in patient safety is expected to drive the surgical instrument tracking systems market.

Scope of Surgical Instrument Tracking Systems Market:

A surgical instrument tracking system is a combination of the latest scanning technology and application software for inventory management. It provides a comprehensive surgical instrument management solution and allows the user in full control of a surgical inventory. Surgical instrument tracking systems provide smart alerts when assets require any kind of maintenance and remove unnecessary costly attention based upon the use. For example; RFID surgical instrument tracking system facilitates hospitals to have a faster, comprehensive accounting of materials before and after surgery. Earlier this system was used for a specific purpose to manage instrument count sheets and for basic instrument traceability. Surgical instrument tracking system includes the latest technologies that help healthcare organizations to improve the quality, efficiency, and safety of their surgical equipment. In addition, this system not only improves the quality of life but also saves overall time during surgery.

Global surgical instrument tracking systems market report is segmented on the basis of product, technology, end-use and regional & country level. Based upon product, surgical instrument tracking systems market is segmented into hardware, software and services. On the basis of technology, the market is classified into barcodes and RFID. Furthermore, based upon end-use, global the market is segmented into hospitals and others.

The regions covered in this global Surgical Instrument Tracking Systems market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Global Surgical Instrument Tracking Systems market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Global Surgical Instrument Tracking Systems Market Key Players:-

Some major key players for global surgical instrument tracking systems market are

• Censis Technologies
• Material Management Microsystems
• Becton
• Dickinson and Company
• Haldor Advanced Technologies
• Intelligent InSites, Inc.
• Key Surgical, Inc.
• Mobile Aspects
• TGX Medical Systems
• Xerafy
• STANLEY Healthcare
• B. Braun Melsungen AG
• Getinge AB
• Infor Inc.
• SpaTrack Medical Limited
• Scanlan International, Inc.
• others.

Global Surgical Instrument Tracking Systems Market Segmentation:-

By Product:

• Hardware
• Software
• Services

By Technology:

• Barcodes
• RFID

By End-Use:

• Hospitals
• Others

Rising Need for Improvement in Surgical Quality and Traceability of Instruments in Hospitals is Anticipated to Drive the Market Growth.

The growth of surgical instrument tracking systems is anticipated to experience a huge demand with increasing surgical procedures worldwide owing to the necessity for faster information technology systems and inventory management in hospitals. For healthcare personnel ensuring patient safety, tracking the status of surgical devices, and improving in the quality of care has become extremely important aspects which is also boosting the demand of surgical instrument tracking systems. According to Michel Gillmann, marketing director, Xerafy, Singapore reported that, with around 4,000 retained surgery items cases have been created every year in the U.S. alone, whereas hospitals increasingly shifted their focus to automatic identification technology such as RFID to track medical devices and surgical instruments. Additionally, the surgical instrument tracking system makes the optimal use of instrument sets by improving the surgical quality so that it is widely adopted by healthcare professionals and hospitals. However, in this type of system errors can be occurred at the time of surgical instrument processing and it may increase operative time, costs and increase the risk of surgical infections which may act as a major restraining factor for this market. Moreover, the advancement of RFID technology in surgical tracking instrument systems will be the next phase of IT innovation in hospitals.

North America is Expected to Dominate the Global Surgical Instrument Tracking Systems Market.

North America holds the largest share of the global surgical instrument tracking systems market and is expected to continue the same during the forecast period. In North America, the U.S. FDA’s Unique Device Identification (UDI) program was developed to support the increasing need for tracking of medical devices in the North American healthcare industry in order to speed product recalls and improve the quality of patient safety. In addition to this, Unique Device Identification (UDI) can help the healthcare industry to manage and track inventory with the fastest speed. Healthcare organizations such as hospitals can also use the UDI to manage inventory or to track devices internally.

Moreover, the Asia Pacific region is expected to register the fastest growth rate during the forecast period. The medical needs in this region are continuously increasing each year and spread across different countries coupled with growing awareness of health issues are some of the factors responsible for the growth of the surgical instrument tracking systems market in this region.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2028
Market Size in 2020:	USD 193.8 Million
Base year considered	2020
Forecast Period CAGR %:	14.92%
Market Size Expected in 2028:	USD 513.1 Million
Tables, Charts & Figures:	175
Pages	200
Aronia Companies	Censis Technologies, Material Management Microsystems, Becton, Dickinson and Company, Haldor Advanced Technologies, Intelligent InSites, Inc., Key Surgical, Inc., Mobile Aspects, TGX Medical Systems, Xerafy, STANLEY Healthcare, B. Braun Melsungen AG, Getinge AB, Infor Inc., SpaTrack Medical Limited, Scanlan International, Inc. and others.
Segments Covered	By Product, By Technology, By End-Use
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits for Surgical Instrument Tracking Systems Market Report

• Global Surgical Instrument Tracking Systems Market report covers in-depth historical and forecast analysis.
• Global market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global market report helps to identify opportunities in the marketplace.
• Global market report covers extensive analysis of emerging trends and competitive landscape.

On Special Requirements Surgical Instrument Tracking Systems Market Report is also available for the below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA