RTLS in healthcare market to grow by USD 3.2737 billion between 2022 to 2027; Growth opportunities led by Advantech Co. Ltd. and AiRISTA Flow Inc.- Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The latest report on RTLS in the healthcare market, 2022-2027 estimates to register an incremental growth of USD 3,273.72 million at a CAGR of 23.28% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The need for improved patient safety drives the RTLS market growth in healthcare. The market growth can be attributed to its capability to enable real-time patient tracking and thus improve patient safety. RTLS lowers the possibility of errors by delivering precise and current information on the whereabouts of patients inside a healthcare facility. Hence, such factors drive the market growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

RTLS in Healthcare Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The RTLS in the healthcare market report covers the following areas:

• RTLS in Healthcare Market 2023-2027 Size
• RTLS in Healthcare Market 2023-2027 Trends
• RTLS in Healthcare Market 2023-2027 Industry Analysis

RTLS in healthcare market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Advantech Co. Ltd., AiRISTA Flow Inc., America Movil SAB de CV, ASSA ABLOY AB, Baxter International Inc., Borda Technology, GE Healthcare Technologies Inc., Halma Plc, Hewlett Packard Enterprise Co., INTELLIGENT LOCATIONS, Litum Technologies Inc., MYSPHERA, Purelink, SGS SA, Siemens AG, Sonitor Technologies AS, Stanley Black and Decker Inc., TeleTracking Technologies Inc., Ubisense Ltd., and Zebra Technologies Corp. are among some of the major market participants.

Company Offerings

• Advantech Co. Ltd. - The company offers RTLS in healthcare called Real Time Location System tag.
• AiRISTA Flow Inc. - The company offers RTLS in healthcare called the AiRISTA RTLS solution.
• America Movil SAB de CV - The company offers RTLS in healthcare called Real Time Location System Plus RTLS Patient Monitoring under its subsidiary called Claro.

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• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial
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RTLS in Healthcare Market 2023-2027: Market Dynamics

Major Trends

The integration with electronic health records (EHR) is an emerging RTLS in the healthcare market trend. To utilize the capabilities of RTLS to share data with EHR platforms easily, besides improving patient care coordination and workflow effectiveness, integration with electronic health records (EHR) is carried out. Furthermore, it helps medical professionals to gain real-time visibility into the patient's condition and be able to make more precise and timely treatment decisions by integrating RTLS data. The data includes patient location and mobility, with EHR systems. Hence, such trends fuel the growth of the RTLS in healthcare market during the forecast period.

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RTLS in Healthcare Market 2023-2027: Segmentation

RTLS in Healthcare Market is segmented as below:

• Technology 
• RFID
• WiFi
• UWB
• BLE
• Others
• Component 
• Hardware
• Software
• Services
• Geography 
• North America
• Europe
• Asia
• Rest Of World (ROW)

The RFID segment is significant growth during the forecast period. The growth of this segment is attributed to its several benefits such as non-line-of-sight tracking, long-range capabilities, and affordability. For instance, to track medical equipment, the University of California San Francisco Medical Center developed an RFID-based RTLS solution, which enables effective inventory management and reduces equipment search time. Hence, such factors boost the RFID segment of the RTLS in the healthcare market during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic market data (2017 to 2021) & forecast market size (2023-2027) – Download a Sample Report

RTLS in Healthcare Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist RTLS in healthcare market growth during the next five years
• Estimation of the RTLS in healthcare market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the RTLS in healthcare market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of RTLS in healthcare market, vendors

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The global healthcare information software market size is estimated to grow by USD 7,279.27 million at a CAGR of 4.98% between 2022 and 2027. Technavio has segmented the market into Application, Deployment, and Geography. The rising prevalence of chronic diseases is the key driver for the growth of the market. 

Table of Contents

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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