RTLS Healthcare Companies | Forecast by 2033

08 Sep 2024

Table of Content

1. RTLS Healthcare Market Growth, Trends and Report Highlights 2. Market Overview 3. RTLS Healthcare Market Trends 4. Top Companies in the RTLS Healthcare Market 5. Regional Insights 6. Market Opportunity and Growth Potential 7. RTLS Healthcare Market Highlights 8. RTLS Healthcare Market News

RTLS Healthcare Market Growth, Trends and Report Highlights

The global RTLS healthcare market was exhibited at USD 2.43 billion in 2023 and is anticipated to touch around USD 13.49 billion by 2033, poised to grow at a CAGR of 18.70% during the forecast period. The benefits of RTLS healthcare for patients and providers include increasing security, lowering hospital-acquired infection risks, keeping medical equipment on track, increasing bed availability, etc., contributing to the growth of the market.

Market Overview

The RTLS healthcare market refers to real-time location systems (RTLS) services in healthcare designed to provide real-time tracking and management of staff, patients, and assets within a healthcare facility. The RTLS solutions in healthcare are used to help real-time and immediate tracking and management of patients, staff, and medical equipment in all types of patient care environments. RTLS healthcare benefits for patients and providers include lowering hospital-acquired infection (HAI) risks, increasing security, keeping medical equipment on track, increasing bed availability, etc., contributing to the growth of the market.

RTLS Healthcare Market Trends

• Rising safety and security concerns of patients: Rising safety and security concerns of patients' demands for RTLS healthcare help to improve department workflows, which helps the growth of the RTLS healthcare market.
• Increasing asset tracking demand: The increasing asset tracking demand assets, including pharmaceutical supplies, available hospital beds, and medical equipment, can be tracked with the help of RTLS healthcare.

Advanced technologies driving the market

The real-time location system (RTLS) for healthcare are advanced technologies that enable healthcare system facilities to monitor and track patients, staff, and medical equipment in real-time. These systems use many advanced technologies including Bluetooth, RFID, GPS, UWB, BLE, Wi-Fi, and others to provide timely and accurate location data that help to drive the growth of the RTLS healthcare market.

• In March 2024, Newtown Company launched a real-time location tracking system for transforming healthcare operations.

However, the downsides of RTLS healthcare include the use of the wi-fi network, maintenance needs of systems like changing batteries, and the large size of tags, high costs of RTLS technology because of the high cost of infrastructure, wiring, power, hardware, and software, etc. can hamper the growth of the RTLS healthcare market.

Top Companies in the RTLS Healthcare Market

• Midmark Corporation
• Sonitor Technologies
• AiRISTA Flow, Inc.
• Oracle Corporation
• UBISENSE
• GE HealthCare
• CenTrack, Inc.
• TeleTracking Technologies, Inc.
• Impinj, Inc.
• Hewlett Packard Enterprise Development LP
• Zebra Technologies, Corporation
• Securitas Healthcare, LLC.
• Stanley Healthcare
• Savi Technology
• GE Healthcare
• HID Global
• Aruba Networks
• Alien Technology
• Advantech Co., Ltd.

Recent Development in the RTLS Healthcare Market by CenTrak

Recent Development in the RTLS Healthcare Market by HID Global

Regional Insights

Asia Pacific is estimated to be the fastest-growing during the forecast period of 2024-2033. The growing demand for effective supply chain management and the rising many hospitals in the Asia Pacific region contribute to the growth of the RTLS healthcare market. Japan is the leading country in terms of growth in the market due to the increased senior population and the increased demand for advanced technologies to overcome healthcare needs.

• In April 2024, in New Delhi, India, a new technology solution to improve the services platform was launched by a developer of comprehensive technology platforms for elderly care and home healthcare, HealthTech Startup, Mindtrot Technologies. The new solution goal is to enhance service providers for senior living facilities.

North America dominated the RTLS healthcare market in 2023. The private healthcare providers and the National Health Services (NHS) prioritize improved patient care and efficiency, driving the growth of the market in the North American region. The United States country focuses on enhancing patient efficiency and patient safety in healthcare facilities. The adoption of RTLS technologies is increasing in the United States healthcare sector for tracking staff movements, patient monitoring, inventory management, and medical equipment.

• In March 2023, a CareFlow Cloud Staff Duress Solution, a cloud-based software platform allowed by the BLE (Bluetooth Low Energy) sensory network, was launched by a leading RTLS (real-time locating system) technology provider focused on data insights and workflow efficiency solutions that enhance the delivery of care, Midmark RTLS.

Market Opportunity and Growth Potential

The scope of RTLS in the healthcare sector

The scope of RTLS in the healthcare sector includes the advanced RTLS technologies that help clinics and hospitals achieve the most appropriate optimization and keep their resources on track in their work process. The facilities of healthcare across the world are looking for solutions to scale the efficiency of their services and the use of UWB-based RTLS technology solutions. These factors help the growth of the RTLS healthcare market.

• In July 2024, the industry leader in enterprise mobile solutions, Spectralink, and a leading global provider of accurate RTLS (Real-time location system), Sonitor, collaborated to ensure hospital safety with a powerful RTLS solution.

RTLS Healthcare Market Highlights

RTLS Healthcare Market News

• In March 2022, a real-time location service (RTLS) and IoT-powered platform named Cox Prosight was launched by Cox Communications. It is with hand hygiene potential to improve operational safety and efficiency.
• In April 2024, a real-time location system (RTLS), named GeoSense, was launched by the TRIMEDX. The RTLS system is designed for healthcare environments and offers accurate tracking data for medical devices to enhance asset management in the medical sector.

Market Segmentation

By Component

• Hardware
• Software
• Services

By Technology

• RFID
• Wi-Fi
• UWB
• BLE
• Others

By Application

• Inventory/Asset Tracking & Management
• Personnel Locating & Monitoring
• Access Control & Security
• Environmental Monitoring
• Supply Chain Management & Automation
• Others

By Facility Type

• Hospitals & Healthcare Facilities
• Senior Living Facilities

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