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In 2015, STANLEY Healthcare developed an advanced hospital management system, which is capable of providing suggestions to management by observing the behavior of hospital staff. Hospital asset management systems are used to continuously monitor and proactively manage the status, condition, and location of all assets in the institutions in real time. Hospital assets management systems serve the important purpose of improving or establishing efficient staff communication, improving asset utilization, managing par levels of assets and locating equipment in hospitals at the right time. Software, services and other electronic gadgets are components of hospital asset management system. The system assists in keeping the quality of patient care by providing undisturbed availability through continuous interaction of medical devices.
Growth in instances of missing and stolen equipment, failure to maintain hospital sanitation standards, and need of intelligent data management systems are driving the global hospital asset management systems market. According to a survey by Centres for Disease Control and Prevention in 2017, an estimated 1.7 million infection cases are diagnosed every year owing to a lack of efficient sanitation management in healthcare settings, including hospitals, which is causing an estimated 99,000 deaths each year in the U.S. Moreover, technological advancements in hospital asset management systems have enabled the healthcare institutions to optimise their processes.
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High costs of installation as well as maintenance, the reluctance of healthcare institutes to migrate from conventional to advanced systems, and lack of skilled technicians are hindering the demand for global hospital asset management systems market.
Some of the major companies operating in the global hospital asset management systems market are Johnson Controls., Infor, Motorola Solutions Inc., GENERAL ELECTRIC COMPANY, Ekahau, Trimble Inc, AeroScout Industrial, a division of AeroScout, LLC., Vizbee RFID systems Ltd., Sonitor technologies, IBM Corporation, Siemens Healthcare Private Limited, ZIH Corp, STANLEY Healthcare and other.
· Real-time location systems (RTLS)
· Radio Frequency Identification (RFID)
· Staff Management
· Patient Management
· Inventory Management
· Supply Chain Management
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
Among the segmentation, real-time location system in the technology segment is projected to hold considerable share. This segment is also expected to register considerably higher CAGR owing to the robust product portfolio of RTLS solutions that favor the integration of multiple workflows and reduces staff workload.
North America is projected to hold a considerable share of the global hospital asset management systems market owing to the increasing need for intelligent systems to monitor hospital inventories, advanced healthcare infrastructure and rise in adoption of enterprise systems. Asia-Pacific region is expected to witness a significant growth during the forecast period, owing to the rise in demand for advanced hospital asset management systems, spreading awareness, and growing demand for better information systems. Moreover, the growing demand for integrated systems to manage increasing patient population due to extensively increasing prevalence of chronic disorders in the Asia Pacific offers a huge opportunity for adoption of hospital asset management systems during the forecast period.