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US RTLS for Healthcare Market

2021

Healthcare IT US RTLS for Healthcare Market Forec...

US RTLS for Healthcare Market Forecast to 2027 - COVID-19 Impact and Country Analysis 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)

Publication Month: Nov 2020 | Report Code: TIPRE00016496 | No. of Pages: 71 | Category: Healthcare IT | Status: Published

Market Insights

US RTLS for Healthcare Market to Grow at a CAGR of 19.2% to reach US$ 2,346.82 Million from 2020 to 2027

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The US RTLS for healthcare market is expected to reach US$ 2,346.82 million by 2027 from US$ 574.76 million in 2019; it is expected to grow at a CAGR of 19.2% from 2020 to 2027.

Factors such as advantages of RTLS in healthcare and increasing adoption of RTLS in healthcare are the major enablers of the growth US RTLS for Healthcare market. However, the data security and privacy concerns associated with RTLS is the major factor hindering its market growth.

US RTLS for healthcare Market Revenue and Forecast to 2027 (US$ Million)

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Market Insights-

Advantages of RTLS in Healthcare

The implementation of RTLS in the facility centers has allowed reducing the cost of assets required in the hospitals. It has also enhanced work efficiencies right from clinical management to nursing staff. The two major applications, such as asset tracking and patient tracking, have provided maximum value to hospitals in tracking patients, staff, inventories, equipment, and other such factors. The automated tracking through RTLS has enabled to save costs and time for hospitals and outpatients clinics. For instance, in October 2019, a Florida-based hospital has saved more than US$ 250 000 by leveraging asset Wi-Fi RTLS that assist in locating equipment and medical device by reducing rental costs and create value for future RTLS expansion. In addition, the real-time tracking facility helps in streamlining the processes more efficiently. The functions such as Bluetooth, LTE, UWB, and Zigbee have added better value additions in their current businesses. For instance, in January 2018, CenTrak has updated its Bluetooth Low Energy (BLE) beacon technology to its next-generation Enterprise Location Services for healthcare infrastructures. The updating of its services has allowed better interoperability, reliability, extreme battery life, and scalability and has enhanced their service offerings. Thus, such advantages offered by the RTLS to healthcare are likely to drive the market's growth during the forecast period.

Technology - Based Market Insights

In terms of technology, the US RTLS for healthcare market is segmented into RFID, Wi-Fi, UWB, bluetooth, GPS, and others. In 2019, the RFID segment held the largest share of the market, and is expected to remain dominant during the forecast period. Moreover, UWB is expected to grow faster over the forecasted years.

United States RTLS for Healthcare Market, by Technology – 2019 and 2027

United States RTLS for Healthcare Market, by Technology – 2019 and 2027

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Facility Type - Based Market Insights

Based on Facility Type, the US RTLS for healthcare market is segmented into hospitals and healthcare facilities, and senior living. The hospitals and healthcare facilities segment held the largest share of the market in 2019 and is expected to grow at the highest CAGR during the forecast period.

Application - Based Market Insights

Based on application, market is segmented as inventory and asset tracking, patient and staff tracking, access control and security, environment monitoring, supply chain management and operation automation, others. In 2019, inventory and asset tracking held the largest market share in the forecasted year.

Strategic Insights

Product launches and approvals are commonly adopted strategies by companies to expand their footprint worldwide and meet the growing demand. The players operating in the US RTLS for healthcare market adopt the expansion, collaboration, and product launch strategies to enlarge customer base across the world. These strategies allow the players to maintain their brand name globally. For instance, in July 2019, TeleTracking Technologies, Inc. entered into a collaboration with B. Braun Medical Inc. for the combination of their Space Infusion Pump Systems with TeleTracking. RTLS Asset Tracking solution. This interoperability is intended to improve workflow and optimize pump utilization.

US RTLS for Healthcare Market – Market Segmentation

By Technology

  • RFID
  • Wi-Fi
  • Bluetooth
  • GPS
  • UWB
  • Others

By Facility Type

  • Hospitals and Healthcare Facilities
  • Senior Living

By Application

  • Inventory and Asset Tracking
  • Patient and Staff Tracking
  • Access Control and Security
  • Environment Monitoring
  • Supply Chain Management and Operation Automation
  • Others

By Country

  • North America

    • US

Company Profiles

  • CenTrak
  • Impinj, Inc
  • Intelligent InSites
  • Aruba (Hewlett Packard Enterprise Development LP)
  • Midmark Corporation
  • Sanitag
  • Sonitor Technologies
  • STANLEY Healthcare
  • Teletracking Technologies, Inc.
  • Zebra Technologies Corp

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 US RTLS for HealthcareMarket – By Technology

1.3.2 US RTLS for HealthcareMarket – By Facility Type

1.3.3 US RTLS for HealthcareMarket – By Application

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. US RTLS for Healthcare Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 US: PEST Analysis

4.3 Expert Opinion

5. US RTLS for HealthcareMarket – Key Market Dynamics

5.1 Key Drivers

5.1.1 Advantages of RTLS in Healthcare

5.1.2 Increasing Adoption of RTLS in Healthcare

5.2 Key Market Restraints

5.2.1 Data Security and Privacy Concerns Associated With RTLS

5.3 Key Market Opportunities

5.3.1 Increasing Usage Of Smartphones, Tablets & Pads To Boost Adoption Of Solutions

5.4 Future Trends

5.4.1 Increasing Usage of IoT Technology in Healthcare Industries

5.5 Impact Analysis

6. RTLS for Healthcare– US Market Analysis

6.1 US RTLS for HealthcareMarket Overview

6.2 Market Positioning of Key Players

7. USRTLS For Healthcare Market Analysis– Technology

7.1 Overview

7.2 US RTLS for Healthcare Market, by Technology 2019& 2027 (%)

7.3 RFID Market

7.3.1 Overview

7.3.2 US RFID Market Revenue and Forecasts to 2027 (US$ Mn)

7.4 Wi-Fi Market

7.4.1 Overview

7.4.2 US Wi-Fi Market Revenue and Forecasts to 2027 (US$ Mn)

7.5 Bluetooth Market

7.5.1 Overview

7.5.2 US Bluetooth Market Revenue and Forecasts to 2027 (US$ Mn)

7.6 GPS Market

7.6.1 Overview

7.6.2 USGPS Market Revenue and Forecasts to 2027 (US$ Mn)

7.7 UWB Market

7.7.1 Overview

7.7.2 USUWB Market Revenue and Forecasts to 2027 (US$ Mn)

7.8 Others Market

7.8.1 Overview

7.8.2 USOthers Market Revenue and Forecasts to 2027 (US$ Mn)

8. US RTLS For Healthcare Market Analysis – Facility Type

8.1 Overview

8.2 USRTLS for Healthcare Market, By Technology 2019& 2027 (%)

8.3 Hospitals & Healthcare Facilities Market

8.3.1 Overview

8.3.2 US Hospitals & Healthcare Facilities Market Revenue and Forecasts to 2027 (US$ Mn)

8.4 Senior Living Centers Market

8.4.1 Overview

8.4.2 US Senior Living Centers Market Revenue and Forecasts to 2027 (US$ Mn)

9. US RTLS For Healthcare Market Analysis – Application

9.1 Overview

9.2 US RTLS for Healthcare Market, By Application 2019& 2027 (%)

9.3 Inventory and Asset Tracking

9.3.1 Overview

9.3.2 US Inventory and Asset Tracking Market Revenue and Forecast to 2027 (US$ Mn)

9.4 Patient and Staff Tracking

9.4.1 Overview

9.4.2 US Patient and Staff Tracking Market Revenue and Forecast to 2027 (US$ Mn)

9.5 Access Control and Security Market

9.5.1 Overview

9.5.2 US Access Control and Security Market Revenue and Forecasts to 2027 (US$ Mn)

9.6 Environment Monitoring Market

9.6.1 Overview

9.6.2 US Environment Monitoring Market Revenue and Forecasts to 2027 (US$ Mn)

9.7 Supply Chain Management and Operation Automation Market

9.7.1 Overview

9.7.2 US Supply Chain Management and Operation Automation Market Revenue and Forecasts to 2027 (US$ Mn)

9.8 Others Market

9.8.1 Overview

9.8.2 US Others Market Revenue and Forecasts to 2027 (US$ Mn)

10. Impact of COVID-19 Pandemic on USRTLS for Healthcare Market

10.1 US: Impact Assessment of COVID-19 Pandemic

11. RTLS for Healthcare Market– Industry Landscape

11.1 Overview

11.2 Growth Strategies in the RTLS for Healthcare Market, 2016-2019

11.3 Organic Growth Strategies

11.3.1 Overview

11.3.2 Recent Organic Developments By Players In The RTLS for Healthcare Market

11.4 Inorganic Growth Strategies

11.4.1 Overview

11.4.2 Recent Inorganic Developments By Players In The RTLS for Healthcare Market

12. RTLS for Healthcare Market–Key Company Profiles

12.1 CenTrak, Inc.

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Financial Overview

12.1.4 Services/Product Portfolio

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Impinj, Inc.

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Financial Overview

12.2.4 Services/Product Portfolio

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Intelligent InSites

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Financial Overview

12.3.4 Services/Product Portfolio

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Aruba (Hewlett Packard Enterprise Development LP)

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Financial Information

12.4.4 Services/Product Portfolio

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Midmark Corporation

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Financial Information

12.5.4 Services/Product Portfolio

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Sanitag

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Financial Information

12.6.4 Services/Product Portfolio

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Sonitor Technologies

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Financial Overview

12.7.4 Services/Product Portfolio

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 STANLEY Healthcare

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Financial Overview

12.8.4 Services/Product Portfolio

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Teletracking Technologies, Inc.

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Financial Overview

12.9.4 Product Portfolio

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Zebra Technologies Corp.

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Financial Overview

12.10.4 Product portfolio

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

Table 1. Recent Organic Developments in the RTLS for Healthcare Market

Table 2. Recent Inorganic Developments By Players In The RTLS for Healthcare Market

Table 3. List of Abbreviation

LIST OF FIGURES

Figure 1. US RTLS for HealthcareMarket Segmentation

Figure 2. US RTLS for healthcare Market Overview

Figure 3. RFIDis Expected to Show Remarkable Growth During Forecast Period

Figure 4. Hospitals & Healthcare Facilities is Expected to Have Fastest Growth During Forecast Period

Figure 5. US RTLS Market, Industry Landscape

Figure 6. US: PEST Analysis

Figure 7. Expert Opinion

Figure 8. US RTLS for Healthcare Market Impact Analysis Of Driversand Restraint

Figure 9. Overview of US RTLS for HealthcareMarket

Figure 10. Market Positioning Of Key Players In US RTLS for Healthcare Market

Figure 11. US RTLS for Healthcare Market, By Technology 2019& 2027 (%)

Figure 12. US RFID Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 13. US Wi-Fi Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 14. US Bluetooth Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 15. US GPS Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 16. US UWB Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 17. US Others Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 18. US RTLS for Healthcare Market, by Technology 2019& 2027 (%)

Figure 19. US Hospitals & Healthcare Facilities Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 20. US Senior Living Centers Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 21. US RTLS for Healthcare Market, By Application 2019& 2027 (%)

Figure 22. US Inventory and Asset Tracking Market, Revenue and Forecast to 2027 (US$ Mn)

Figure 23. US Patient and Staff Tracking Market, Revenue and Forecast to 2027 (US$ Mn)

Figure 24. US Access Control and Security Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 25. US Environment Monitoring Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 26. US Supply Chain Management and Operation Automation Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 27. US Others Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 28. Impact of COVID-19 Pandemic on RTLS for Healthcare Market in the US

Figure 29. Growth Strategies in the RTLS for Healthcare Market, 2016-2019

The List Companies - US RTLS for Healthcare Market

  1. CenTrak
  2. Impinj, Inc
  3. Intelligent InSites
  4. Aruba (Hewlett Packard Enterprise Development LP)
  5. Midmark Corporation
  6. Sanitag
  7. Sonitor Technologies
  8. STANLEY Healthcare
  9. Teletracking Technologies, Inc.
  10. Zebra Technologies Corp
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the US RTLS for healthcare market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the US RTLS for healthcare market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
TIPRE00016496
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