(MENAFN- GetNews) The global surgical instrument tracking systems market was valued at USD 172.1 million in 2020 and is expected to reach USD 383.9 million by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 11.1% from 2021-2028
The global surgical instrument tracking systems market size is expected to reach USD 383.9 million by 2028 according to a new study by Polaris Market Research. The report “Surgical Instrument Tracking Systems Market Share, Size, Trends, Industry Analysis Report, By Product (Hardware, Software, Services); By Technology; By Region; Segment Forecasts, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increased regulation for surgical instrument tracking systems in countries like the U.S. and China is the major factor that is driving the growth of the industry globally. The increased adoption owing to better patient practices in hospitals along with the emergence of new tracking system technologies is expected to further boost the growth of the industry.
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Medical instrument tracing improves the sterile processing and distribution processes of the medical devices in hospitals that greatly contribute to patient safety. There is also an increased case of retained equipment after surgery and the mortality rate is 2% in the case of retained surgical objects and hence the adaptation of 2D barcodes and RFID to track devices in operation theatres will help to reduce any mishap during surgeries.
COVID-19 is expected to have a negative impact on the industry as most of the countries are following temporary lockdown and this has affected the transportation of medical devices. The temporary shutdown of medical device manufacturing sites in worst-affected countries and travel restrictions impacting shipments is expected to slow down the growth of the industry. The situation is expected to gradually improve in the few months after which the market is expected to witness upward growth.
List Of Company Profiles:
- Censis Technologies, Inc.
- SpaTrack Medical Limited
- Xerafy Singapore Pte Ltd.
- Fingerprint Medical Limited
- Getinge AB
- Haldor Advanced Technologies
- Microsystems, INC
- Ternio Group LLC
- B. Braun Melsungen Ag
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Table of Contents
Surgical Instrument Tracking Systems Market Insights
Surgical Instrument Tracking Systems Market Assessment by Product
Surgical Instrument Tracking Systems Market, by Technology
- Radio Frequency Identification (RFID)
Surgical Instrument Tracking Systems Market Assessment by End-Use
Surgical Instrument Tracking Systems Market Assessment by Geography
- North America (U.S., Canada)
- Europe (France, Germany, Italy, Spain, UK, Netherlands, Austria)
- Asia Pacific (China, India, Japan, Indonesia, Malaysia, South Korea)
- Latin America (Argentina, Brazil, Mexico)
- Middle East & Africa (Israel, Saudi Arabia, South Africa, UAE)
List of Tables
Table 1 Global Surgical Instrument Tracking Systems Market, By Product, 2016 – 2028 (USD Million)
Table 2 Global Surgical Instrument Tracking Systems Market, By Technology, 2016 – 2028 (USD Million)
Table 3 Global Surgical Instrument Tracking Systems Market, By End Use, 2016 – 2028 (USD Million)
List of Figures
Figure 1. Market Highlights (2020, Revenue)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Approach
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers
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