The global Hospital Asset Management Market was valued at US$ 6,105.5 Mn in 2020 and is anticipated to expand at a CAGR of 9.7% from 2020 to 2027.
Hospital asset management consists of managing and maintaining machinery, equipment and physical assets within a hospital in the most efficient and cost-effective way possible. Assets may include physical infrastructures and systems such as heating, air-conditioning, refrigeration, ventilation, plumbing, electrical, pumps, condensers, generators, compressors and other systems within a building. Nowadays, asset management is applied in both the business world as well as public infrastructure areas to guarantee a planned way to deal with the control of costs, risks, performance and so forth.
Major players of the market include, Awarepoint Corporation, GE Healthcare, Ascom, Honeywell International, CenTrak, Ekahau, Stanley Healthcare, Sonitor Zebra Technology, ZIH Corporation and IBM.
Awarepoint customer centrack launched a real-time location system (RTLS), also known as a realtime locating system, can help hospital facilities professionals track key assets and save time, money and lives. But, while primarily used for asset management, these systems are expanding into other areas such as contact tracing, which is especially important during the COVID-19 pandemic.
One of the best ways to drive efficiency in a healthcare facility is with building infrastructure management software. The right platform will allow maintenance teams to automate asset management workflows and improve efficiency of everyday operations. With the help of asset management software, a hospital or medical store can keep precise and updated stock records. This is especially true for pharmaceuticals and surgical equipment. It is one of the most significant activities for any hospital organization.
The global hospital asset management market is segmented on the basis of technology, component, application and region. Based on technology, the market is classified as, radio frequency identification, real time location system, infrared tags and ultrasound tags. Based on component it has classified in hardware, software and services. Based on application it has instrument management, patient management, staff management and supply chain management. It also provides market by region namely, North America, Asia-Pacific, Middle East & Africa and South & Central America. Asia-Pacific region expected to grow at a significant rate during the forecast period owing to the technological development of emerging economies such as china and India.