Pune, April 11, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider's report, the Healthcare Asset Management Market had a worth of USD 27.28 billion in 2022 and is anticipated to attain a valuation of USD 248 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 31.8% during the estimated duration of 2023-2030.
Market Overview
Healthcare asset management refers to the process of tracking and managing healthcare assets, including medical equipment, devices, and supplies. Effective asset management is critical for healthcare providers to optimize the utilization of their assets, reduce operational costs, and enhance patient outcomes. In addition to reducing operational costs, healthcare asset management can also help healthcare organizations to improve their bottom line by reducing equipment downtime, improving maintenance schedules, and enhancing the overall efficiency of their operations.
Market Analysis
The healthcare asset management market is expected to grow rapidly in the coming years, driven by several factors such as the increasing adoption of asset management solutions, rising operational costs, and the need for enhanced patient care. The benefits of implementing healthcare asset management systems are numerous, with one of the most significant being the prevention of the loss of medical devices. The loss of medical equipment can have serious consequences, including delays in patient care, increased costs, and decreased productivity. By implementing an effective asset management system, healthcare organizations can ensure that they keep track of all their equipment, reducing the risk of loss or theft.
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Key Company Profiles Listed in this Report Are:
The key players are AiRISTA Flow, Cen Trak, Inc, GE Healthcare, IBM Corporation, Sonitor, Thing Magic, Zebra Technologies, Stanley Healthcare, Elpas, Versus Technology, Inc., and others players.
Impact of Russia-Ukraine Conflict
The Russia-Ukraine conflict has had a significant impact on the healthcare asset management market. The disruption of medical supply chains, the increased demand for medical services, and the diversion of resources towards military operations have all contributed to the challenges faced by healthcare asset managers in the affected regions. As the conflict continues, it is essential for healthcare asset managers to adapt their strategies and processes to effectively manage their equipment and devices in these challenging circumstances.
Healthcare Asset Management Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 27.28 Billion |
| Market Size by 2030 | US$ 248 Billion |
| CAGR | CAGR of 31.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Healthcare Asset Management Market: Key Segmentation | • By Product Type (Radiofrequency Identification (RFID) Devices, Real-time location systems (RTLS)) • By Application (Hospital Asset Management, Pharmaceutical Asset Management) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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Key Regional Developments
The healthcare asset management market is witnessing significant growth globally, with North America currently dominating the market. However, the Asia-Pacific region is expected to grow rapidly during the forecast period, driven by the increasing demand for healthcare services and infrastructure. The market's growth is propelled by the need for efficient asset management solutions, increasing healthcare expenditure, and the rising incidence of chronic diseases. The expansion of key players in the region and the emergence of innovative technologies are expected to further fuel market growth in the coming years.
Key Takeaway from Healthcare Asset Management Market Study
- The hospital asset management segment is set to dominate the market in the coming years. This is due to the increasing need for hospitals to manage their assets efficiently and provide high-quality patient care.
- The RFID devices segment is set to dominate the market in the coming years. This is due to the increasing need for healthcare facilities to track and manage their assets more effectively, improve patient care, and reduce costs.
Recent Developments Related to Healthcare Asset Management Market
- Sri Kauvery Medical Care, a leading healthcare provider in South India, has announced that it has raised $70 million in a private equity fund from IIFL Asset Management Company (AMC). The funds will be used to support the expansion and growth of Sri Kauvery Medical Care's network of hospitals and clinics across India.
- HMC Capital, an Australian healthcare investment firm, has announced that it will acquire a portfolio of hospitals from a U.S. based firm for $802 million. The acquisition will help HMC Capital to expand its presence in the Australian healthcare market and enhance its portfolio of healthcare assets.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Healthcare Asset Management Market Segmentation, By Product Type
9. Healthcare Asset Management Market Segmentation, By Application
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion
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