Surgical Instrument Tracking Systems Market Size & Report, 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Surgical Instrument Tracking Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global surgical instrument tracking systems market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Surgical Instrument Tracking Systems Market?

The global surgical instrument tracking systems market size reached US$ 212.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 489.4 Million by 2028, exhibiting a growth rate (CAGR) of 14.21% during 2023-2028.

Surgical instrument tracking systems are designed to monitor inventory at several stages of surgical procedures to meet the specific needs of healthcare professionals and enhance the quality of patient care. They aid healthcare professionals in gaining access to surgical instruments and lead to reliable and time-saving procedures. They also ensure real-time accessibility of necessary instruments, which helps reduce case delays, simplify complex tasks, improve operation safety, manage workflow, and provide insights into sterile processing department (SPD) processes. Owing to these benefits, surgical instrument tracking systems are widely adopted in ambulatory surgery centers (ASCs), private clinics, and hospitals to reduce errors, collect surgical inventory data, and enhance staff productivity.

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What are the growth prospects and trends in the surgical instrument tracking systems industry?

The market is primarily driven by the surging need for surgical instrument tracking systems in the healthcare sector. In addition, the increasing number of surgical procedures due to accidents, sports injuries, and cardiac ailments are contributing to market growth. Moreover, the introduction of automatic identification and data capture technologies, such as radio frequency identification (RFID) tags and two-dimensional (2D) barcodes, and the incorporation of the latest scanning software for proper central sterile supply department (CSSD) management represent other major growth-inducing factors.

Besides this, the growing geriatric population with chronic disorders such as cancer, arthritis, cardiovascular diseases (CVDs), and obesity is accelerating the demand for surgical instrument tracking systems to prevent infections caused by contaminated instruments.

Furthermore, the incorporation of unique device identification (UDI) tracking requirements to automatically identify medical devices, including surgical instrument tracking systems, is propelling the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

  • Hardware
  • Software
  • Services

Breakup by Technology:

  • Barcode Tracking
  • Radio Frequency Identification (RFID)

Breakup by End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Research Centers
  • Others

 Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Becton Dickinson and Company, Censis Technologies Inc. (Fortive), Fingerprint Medical Limited, Getinge AB (Carl Bennet AB), Haldor Advanced Technologies Ltd., Scanlan International, Spatrack Medical Limited, Steelco S.p.A. (Miele), Steris Corporation, Ternio Group LLC, TGX Medical Systems and Xerafy Singapore Pte Ltd.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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