December 05, 2019
According to the research report titled ‘RTLS for Healthcare Market to 2027 - Global Analysis and Forecasts by Technology (RFID, Wi-Fi, Bluetooth, GPS, UWB, Others); Facility Type (Hospitals and Healthcare Facilities, Senior Living); Application (Inventory and Asset Tracking, Patient and Staff Tracking, Access Control and Security, Environment Monitoring, Supply Chain Management and Operation Automation, Others) and Geography’ available at MarketStudyReport.com, the global RTLS for healthcare market was reckoned to be worth US $1,455.73 million in 2018 and is estimated to grow with a CAGR of 18.6% over the study period, hence accounting US $6,384.45 million by the year 2027.
For the record, real-time location system (RTLS) is used in healthcare for tracking and detecting the location of patients, employees, or packages in real-time. Growing competition among major companies coupled with rising number of start-ups in RTLS industry are major factors driving the growth of RTLS for healthcare market. Escalating investments in healthcare segment and the need to offer better hospital services are also aiding the market growth.
However, data security and privacy are strongly interrelated to one another, and rising associated concerns may hinder the growth of RTLS for healthcare market. For instance, employees of an organization are concerned about privacy since they can be unfairly monitored through RTLS.
Speaking of technology, RTLS for healthcare market is categorized into Wi-Fi, RFID, bluetooth, UWB, GPS, and others, whereas in terms of facility type, the market is classified into senior living, hospital and healthcare facilities. As per application spectrum, the industry is segmented into patient & staff tracking, inventory & asset tracking, environment monitoring, access control & security, operation automation, and supply chain management.
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Considering the geographical landscape, RTLS for healthcare market is divided into regions namely, Europe, North America, Central & South America, Middle East & Africa, and Asia Pacific with key focus on countries such as US, Canada, Mexico, UK, Germany, France, Italy, Spain, Japan, China, India, South Korea, Australia, UAE, Saudi Arabia, Argentina and Brazil.
The key players of RTLS for healthcare market are Aruba, CenTrak, Intelligent InSites, Impinj, Inc., Midmark Corporation, TeleTracking Technologies, Inc., Sanitag, STANLEY Healthcare, Sonitor Technologies, and Zebra Technologies Corp.
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