Healthcare Asset Management Market Size, Share, and Trends

Healthcare Asset Management Market (By Product: Radiofrequency Identification (RFID) Devices, Real-time location systems (RTLS); By Application: Hospital Asset Management, Pharmaceutical Asset Management; By End User: Hospitals and Clinics, Pharmaceutical Companies, Biotechnology Companies, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 – 2032

  • Last Updated : December 2023
  • Report Code : 1603
  • Category : Healthcare

Healthcare Asset Management Market Size and Growth 2023 to 2032

The global healthcare asset management market size is estimated to reach USD 189.8 billion by 2032 valued at USD 21.02 billion in 2023 and poised to grow at a CAGR of 27.7% during the forecast period 2023 to 2032.

Healthcare Asset Management Market Size 2023 to 2032

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Key Takeaways

  • North America led the global market with the highest market share of 45% in 2022.
  • By Product, the Radiofrequency Identification (RFID) Devices segment has held the largest market share in 2022.
  • By Application, the hospital asset management segment captured the biggest revenue share in 2022.
  • By End User, the hospitals and clinics segment is estimated to hold the highest market share in 2022.

Healthcare Asset Management Market in the U.S. 2023 To 2032

The U.S. healthcare asset management market size was valued at USD 6.61 billion in 2023 and is expected to reach USD 59.31 billion by 2032, growing at a CAGR of 27.6% from 2023 to 2032.

U.S. Healthcare Asset Management Market Size 2023 to 2032

On the basis of region, the global hospital asset management market is classified into North America, Europe, Asia Pacific, and the Rest of the world.

The North American region dominated the global market because of the rising quality of structure and the adding use of low- cost medical systems in clinical diagnostic laboratories. Also, increased technology management, the growing need for new technologies to combat fake pharmaceuticals (medicine counterfeiting), and the presence of a well- established healthcare system and a broad network of healthcare service providers will contribute to the segmental growth. Also, the Asia-Pacific region is anticipated to be the fastest growing region during the forecast period due to technological advancements in rising economies like China and India. Also, the growing demand for simple asset management software increased digitization, and adding expenditures in healthcare and expansions by the market player in the region will fuel market growth.

Healthcare Asset Management Market Share, By Region, 2022 (%)

Growth Factors

Asset management can be defined as a cost-efficient, highly systematic process for planning, acquiring, operating, deploying, disposing and maintaining of an asset physical in nature of the healthcare business in a medical setting. Also, asset management further supports providing healthcare facilities with the registry of asset in order to track and maintain their inventory. These further aids in decreasing costs and increasing patient care along with efficiencies based on operations management.

An asset management solution for the healthcare industry majorly incorporates everything from ward management, facilities management, layout, intensive care, operation care, and various other facilities. Extreme utilization of assets physical in nature to increase the healthcare quality provided to the patients is an important part of a well-organized management of hospital asset. Furthermore, growing focus towards existing assets effective management along with the workforce have propelled numerous facilities of medical worldwide in order to adopt efficient management technologies and solutions of asset, therefore enlarging market growth of healthcare asset management.

Growing pressure to better manage existing staff has impelled healthcare associations across the globe to borrow effective asset management solutions and technologies. Utmost healthcare associations spend a large portion of their budget on tracking hospital equipment. Therefore, destruction of time in lost assets searching and poor practices of asset management leads to major and sever consequences. According to a study finished by the Nursing Times, nurses of with an average number of 35% spend at least an hour in locating and searching for equipment during an average hospital shift. Thus this not just impacts budgets of the healthcare but also compromises the with the patient care quality provided.

Covid-19 has caused significant disturbance to healthcare stocks, as to the world more generally. While it is assumed that utmost of the impact is likely to be brief and short term in nature similar as delays in order to limited access and elective procedures to healthcare professionals-there are likely to be some further continuing consequences. The wider adoption of technology and the move towards healthcare digitalization has been accelerated by trip restrictions related to Covid19.

Healthcare Asset Management Market Scope

Report Coverage Details
Market Size in 2023 USD 21.02 Billion
Market Size by 2032 USD 189.8 Billion
Growth Rate from 2023 to 2032

CAGR of 27.7%

Largest Market North America
Fastest Growing Market Asia Pacifc
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Product, Application, End User, Geography
Companies Mentioned GE healthcare, AiRISTA Flow, CenTrak, Inc., Siemens healthcare, Elpas, ThingMagic, Versus Technology, Inc., Stanley Healthcare, Sonitor, Zebra Technologies, IBM Corporation

 

Product Insight

Based on Product, the market is segmented into Radiofrequency Identification (RFID) Bias and Real- time position systems (RTLS). The Radiofrequency Identification (RFID) Devices is farther segmented into Hardware, Software, and Services. And the Real- time position systems (RTLS) are segmented into Hardware, Software, and Services. Further, the Hardware member in Real- time position systems (RTLS) is subdivided into Tags/Badges and Readers/Interrogators. The radiofrequency identification segment dominates the global market due to its technological advancements, locating patients, assets, drug anti-counterfeiting or preventing drug errors, drug trial compliance, theft prevention, and cost control.

Besides, the growth of healthcare managements like locating staff, visitor alarms, accurate & quick asset and tracing and tracking consumable medicines location is propelling the segment growth in the forecast period. Also, the Real- time position systems (RTLS) sector is anticipated to expand during the forecasted period owing to its management for identifying automatically and tracking the position of people or assets in real- time at a hospital. Besides, rising adoption rates and increased technical developments in these solutions would drive up demand during the forecast period.

Application Insight

Based on Application, the market is classified as hospital asset management and pharmaceutical asset management. The Hospital Asset Management is also segmented into Patient Management, Equipment Tracking and Management, Temperature and Humidity Control, Pharmaceutical Asset Management and Staff Management and Infection Control and Hand Hygiene Compliance which is divided as Drug Anti-counterfeiting. The segment named hospital asset management dominated the market during the forecast period due to the rising need for asset management in hospitals to be held successfully. Amongst these, the equipment management and tracking segment in hospital asset management has the major share in the market, due to significant growth rate due to growing demand for asset management in terms of equipment tracking.

End User Insight

On the basis of end user, the hospitals and clinics segment dominated the healthcare asset management market during the forecast period. This is attributed to the rising usage of the asset management systems in healthcare centers and hospitals. The growing number of hospital visits is contributing to the growth and development of the segment. In addition, the growing government initiatives and efforts for the integration of new solutions and technologies in the hospitals and healthcare centers are supporting to the healthcare asset management market during the projection period.

Key Market Developments

  • In March 2019, innovative digital technology, a healthcare IT project that address key challenges in health care have received USD 9 million funding boost through the government’s Digital Health Technology Catalyst. Such efforts assist in promoting digital health all around the world and thereby augmenting this market growth.
  • In March 2018, Versus Technology, declared the launch of new wrist wearable RTLS badge for patient flow. Such novel product launch enabled the company to hold a strong position in the healthcare asset management industry.

Healthcare Asset Management Market Players

  • GE healthcare
  • AiRISTA Flow
  • CenTrak, Inc.
  • Siemens healthcare
  • Elpas
  • ThingMagic
  • Versus Technology, Inc.
  • Stanley Healthcare
  • Sonitor
  • Zebra Technologies
  • IBM Corporation

Segments Covered in the Report

By Product

  • Radiofrequency Identification (RFID) Devices
    • Hardware
    • Software
    • Services
  • Real-time location systems (RTLS)
    • Hardware
      • Readers/Interrogators
      • Tags/Badges
    • Software
    • Services

By Application

  • Hospital Asset Management
    • Patient Management
    • Equipment Tracking and Management
    • Temperature and Humidity Control
    • Infection Control and Hand Hygiene Compliance
    • Staff Management
  • Pharmaceutical Asset Management
    • Drug Anti-counterfeiting

By End User

  • Hospitals and Clinics
  • Pharmaceutical Companies
  • Biotechnology Companies
  • Others (Laboratories, Cosmetic Industry, Medical Devices Companies, etc.)

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

The global healthcare asset management market size was valued at USD 21.02 billion in 2023 and is anticipated to rake USD 189.8 billion by 2032.

The global healthcare asset management market is expected to grow at a CAGR of 27.7% over the forecast period 2023 to 2032.

The major players operating in the healthcare asset management market are GE healthcare, AiRISTA Flow, CenTrak, Inc., Siemens healthcare, Elpas, ThingMagic, Versus Technology, Inc., Stanley Healthcare, Sonitor, Zebra Technologies, and IBM Corporation.

Owing to medical devices advancements, the hospitals are currently having the medical equipment and multitudinous systems that bear effective handling and management. This represents one of the crucial factors boosting the demand for the healthcare asset management to insure that critical equipment and systems are tested, maintained, and kept in a working condition.

North America dominated the global healthcare asset management market in 2022 and will lead in the near future.

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Healthcare Asset Management Market 

5.1. COVID-19 Landscape: Healthcare Asset Management Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Healthcare Asset Management Market, By Product

8.1. Healthcare Asset Management Market, by Product Type, 2023-2032

8.1.1. Radiofrequency Identification (RFID) Devices

8.1.1.1. Market Revenue and Forecast (2021-2032)

8.1.2. Real-time location systems (RTLS)

8.1.2.1. Market Revenue and Forecast (2021-2032)

Chapter 9. Global Healthcare Asset Management Market, By Application

9.1. Healthcare Asset Management Market, by Application, 2023-2032

9.1.1. Hospital Asset Management

9.1.1.1. Market Revenue and Forecast (2021-2032)

9.1.2. Pharmaceutical Asset Management

9.1.2.1. Market Revenue and Forecast (2021-2032)

Chapter 10. Global Healthcare Asset Management Market, By End User 

10.1. Healthcare Asset Management Market, by End User, 2023-2032

10.1.1. Hospitals and Clinics

10.1.1.1. Market Revenue and Forecast (2021-2032)

10.1.2. Pharmaceutical Companies

10.1.2.1. Market Revenue and Forecast (2021-2032)

10.1.3. Biotechnology Companies

10.1.3.1. Market Revenue and Forecast (2021-2032)

10.1.4. Others

10.1.4.1. Market Revenue and Forecast (2021-2032)

Chapter 11. Global Healthcare Asset Management Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Product (2021-2032)

11.1.2. Market Revenue and Forecast, by Application (2021-2032)

11.1.3. Market Revenue and Forecast, by End User (2021-2032)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Product (2021-2032)

11.1.4.2. Market Revenue and Forecast, by Application (2021-2032)

11.1.4.3. Market Revenue and Forecast, by End User (2021-2032)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Product (2021-2032)

11.1.5.2. Market Revenue and Forecast, by Application (2021-2032)

11.1.5.3. Market Revenue and Forecast, by End User (2021-2032)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Product (2021-2032)

11.2.2. Market Revenue and Forecast, by Application (2021-2032)

11.2.3. Market Revenue and Forecast, by End User (2021-2032)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Product (2021-2032)

11.2.4.2. Market Revenue and Forecast, by Application (2021-2032)

11.2.4.3. Market Revenue and Forecast, by End User (2021-2032)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Product (2021-2032)

11.2.5.2. Market Revenue and Forecast, by Application (2021-2032)

11.2.5.3. Market Revenue and Forecast, by End User (2021-2032)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Product (2021-2032)

11.2.6.2. Market Revenue and Forecast, by Application (2021-2032)

11.2.6.3. Market Revenue and Forecast, by End User (2021-2032)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Product (2021-2032)

11.2.7.2. Market Revenue and Forecast, by Application (2021-2032)

11.2.7.3. Market Revenue and Forecast, by End User (2021-2032)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Product (2021-2032)

11.3.2. Market Revenue and Forecast, by Application (2021-2032)

11.3.3. Market Revenue and Forecast, by End User (2021-2032)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Product (2021-2032)

11.3.4.2. Market Revenue and Forecast, by Application (2021-2032)

11.3.4.3. Market Revenue and Forecast, by End User (2021-2032)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Product (2021-2032)

11.3.5.2. Market Revenue and Forecast, by Application (2021-2032)

11.3.5.3. Market Revenue and Forecast, by End User (2021-2032)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Product (2021-2032)

11.3.6.2. Market Revenue and Forecast, by Application (2021-2032)

11.3.6.3. Market Revenue and Forecast, by End User (2021-2032)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Product (2021-2032)

11.3.7.2. Market Revenue and Forecast, by Application (2021-2032)

11.3.7.3. Market Revenue and Forecast, by End User (2021-2032)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Product (2021-2032)

11.4.2. Market Revenue and Forecast, by Application (2021-2032)

11.4.3. Market Revenue and Forecast, by End User (2021-2032)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Product (2021-2032)

11.4.4.2. Market Revenue and Forecast, by Application (2021-2032)

11.4.4.3. Market Revenue and Forecast, by End User (2021-2032)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Product (2021-2032)

11.4.5.2. Market Revenue and Forecast, by Application (2021-2032)

11.4.5.3. Market Revenue and Forecast, by End User (2021-2032)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Product (2021-2032)

11.4.6.2. Market Revenue and Forecast, by Application (2021-2032)

11.4.6.3. Market Revenue and Forecast, by End User (2021-2032)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Product (2021-2032)

11.4.7.2. Market Revenue and Forecast, by Application (2021-2032)

11.4.7.3. Market Revenue and Forecast, by End User (2021-2032)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Product (2021-2032)

11.5.2. Market Revenue and Forecast, by Application (2021-2032)

11.5.3. Market Revenue and Forecast, by End User (2021-2032)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Product (2021-2032)

11.5.4.2. Market Revenue and Forecast, by Application (2021-2032)

11.5.4.3. Market Revenue and Forecast, by End User (2021-2032)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Product (2021-2032)

11.5.5.2. Market Revenue and Forecast, by Application (2021-2032)

11.5.5.3. Market Revenue and Forecast, by End User (2021-2032)

Chapter 12. Company Profiles

12.1. GE healthcare

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. AiRISTA Flow

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. CenTrak, Inc.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Siemens healthcare

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Elpas

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. ThingMagic

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Versus Technology, Inc.

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Stanley Healthcare

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Sonitor

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Zebra Technologies

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

12.11. IBM Corporation

12.11.1. Company Overview

12.11.2. Product Offerings

12.11.3. Financial Performance

12.11.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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