Surgical Instrument Tracking Systems Market PESTLE Analysis, Top Players and Forecast Report, 2025

Felton, Calif., USA, Oct. 09, 2020 — /EPR Network/ —

The global Surgical Instrument Tracking Systems Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global surgical instrument tracking systems market was valued at over USD 83.5 million in 2015 and is anticipated to rise at over 19.0% during the forecast period. The major factors, which contribute to the growth of this market are growing incidence of hospital acquired infections and instrument misplacement. 

Key Players:

  • Xerafy
  • Haldor Advanced Technologies
  • Materials Management Microsystems
  • Censis Technologies
  • Becton
  • Dickinson and Company
  • Braun Melsungen AG. 

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Growth Drivers: 

Rising prevalence of retained surgical equipment cases is another factor which is expected to contribute to the demand for surgical instrument tracking systems in the coming years. The fatality rate of retained surgical instruments accounted for nearly 2%, according to a study by the National Center for Biotechnology Information. Technological advancements in the field of surgical instrument tracking systems, such as RFID, 2D bar codes further boost the growth of this market.

Product Insights: 

  • Hardware
  • Software
  • Services

Technology Outlook: 

  • Barcodes
  • RFID

Regional Insight:

In 2016, North America held the largest market share. The U.S. Food and Drug Administration launched an innovative device, which can detect and identify medical devices. This factor contributed to this largest revenue growth. In addition, availability of highly developed medical infrastructure, huge penetration of advanced technology and rising healthcare expenditure further accelerates the growth of this regional segment. According to CMS, total healthcare spending in the U.S. was USD 3.2 trillion in 2015, which depicted high healthcare expenditure in this country.

Asia pacific is projected to witness attractive growth over the forecast period owing to the untapped market of this region. Moreover, rapid investments in healthcare infrastructure along with increasing geriatric population also contributed to the high growth of this segment.

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