The growth of the healthcare asset management market can be attributed to need for better asset management in hospitals, acceptance of asset management solutions in pharmaceuticals, and decline in prices of RFID tags. However, the high cost of RFID readers is the major factors restraining the growth of this market.
Market Size
The global Healthcare Asset Management Market is projected to reach USD 35.19 billion by 2023 from USD 8.98 billion from 2018, at a CAGR of 31.4%.
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“RFID Tags segment is expected to dominate the RFID products market in 2018.”
Based on type, the healthcare asset management market is segmented into tags, readers/interrogators, antennas, and accessories. In 2018, the RFID tags segment is expected to dominate the market. The growth of this market is attributed to the increasing acceptance of RFID in pharmaceutical companies, declining prices of RFID tags, and the availability of technologically advanced products in the market.
“Based on type, the passive RFID tag segment is projected to grow at the highest CAGR during the forecast period.”
Based on type, RFID tags market is segmented into passive tags and active tags. In 2018, the passive RFID segment is expected to account for the largest share of the market; also, this segment is expected to register highest CAGR during the forecast period owing to the low cost of passive tags in comparison with active tags. Also, passive tags do not require an external source of energy, owing to which they are more widely adopted.
Recent Developments
• In March 2018, Elpas launched its Eiris Softare Version 5.0.7, Eiris
• In January 2017, Novanta Corporation (US) acquired ThingMagic business from Trimble (US). This acquisition helped Novanta to expand their RFID portfolio to address the growing need for improvements in workflow solutions, patient safety, anti-counterfeiting, and asset tracking on medical markets.
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