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The global healthcare asset management market has been estimated at USD 18.6 billion in 2017. The market is expected to register a CAGR of 7.54% during the forecast period, 2018 to 2023. North America accounted for the largest market, while Europe is the next to North America region market in the healthcare asset management and AsiaPacific was estimated to register the CAGR growth through the forecast period, 20182023.
Rising Concerns of Drug Counterfeiting
WHO estimates that the counterfeit medicines could constitute to about 10% of the entire volume of drugs, globally, and the revenue generated from these counterfeit medicines could be close to USD 75 billion globally. This percentage share of counterfeit drugs proves the issue of counterfeiting in the drug industry, however, fails to highlight the serious threats these drugs pose in some geographical regions, such as AsiaPacific and African. Some studies suggest that the counterfeit drugs share could be even more than 30%, in developing countries of Africa, parts of Asia and Latin America. A report from the United States Trade Representative USTR further clarifies the menace, and estimates that 90% of all counterfeit pharmaceuticals seized at the United States border in fiscal year 2016 were shipped from China, Hong Kong, India and Singapore. Along with the Increasing incidents of drug counterfeiting, need of maximizing the efficiency and reliability of available resources in hospitals to make healthcare accessible to all, and patient centric and valuebased trend in healthcare industry are the major drivers of this market.
Healthcare Institutions Affecting Implementation
Majority of large hospitals were built much before the real time location systems RTLS or radio frequency identification systems RFID came into existence. Hospitals are often combination of buildings, built at different time periods and composed of different materials. Different materials in structure in the same hospital can present problems for accurately triangulating tags, in case of weak signal strength. Rooms shielded with lead pose challenge for RTLS systems, for operating within that specific location as well as in contiguous hallways and rooms. In these cases, RTLS can't be implemented. Due to these reasons, the availability of skilled professionals that could efficiently use molecular markers in the research is restricted. For example, RTLS cannot distinguish between the wheelchairs that take patients upon discharge and the wheelchairs that fall prey to theft. So the factors like healthcare facilities are restraining the growth of the market along with the other factors such as the issues related to accuracy of these devices and data Integrity and safety is also a limiting the growth of the market.
North America to Dominate the Market Growth
North America accounted for the largest market, accounting for around 40% of the global market share. In North America, due to the availability of robust health care infrastructure in this region has propelled the demand for hospital asset management solutions. Along with the North America region, Europe is also the leading region in the global hospital asset management market. AsiaPacific is fastest growing region for healthcare asset management and portrays huge potential for growth in the future due to increasing government initiatives, corporate investment to standardize biopharmaceutical and health care industry in this region.
Key Developments in the Market
November 2017: Infor released an updated version of Infor Enterprise Asset Management.
October 2017: IBM acquired Vivant Digital Business in Australia
July 2017: GE Healthcare acruired clinical outcomes consulting firm Novia Strategies.
June 2017: GE Healthcare Debuts Wireless Asset Tracking Technology.
Major Key Players: AEROSCOUT, INC., AWAREPOINT CORPORATION, AIRISTA FLOW, GE HEALTHCARE, IBM CORPORATION, INFOR INC., MOTOROLA SOLUTIONS, RADIANSE, SIEMENS HEALTHINEERS, SONITOR TECHNOLOGIES
Reasons to Purchase this Report
Current and future healthcare asset management market outlook in the developed and emerging markets.
Analyzing various perspectives of the market with the help of Porter's five forces analysis.
The segment that is expected to dominate the market.
Regions that are expected to witness fastest growth during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
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Original Article: Global Healthcare Asset Management Market Segmented by Technology, Component, Application, and Geography Growth, Trends and Forecasts 2018 2023 [Report Updated: 08022018] Prices from USD $1923NEXT ARTICLE
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