Surgical Instrument Tracking Systems Market Competitive Dynamics, Size, Share and Global Outlook by forecast 2030

 

Surgical Instrument Tracking Systems Market Overview

Global Surgical Instrument Tracking System Market is expected to register a CAGR of 15.1% during the forecast period and expected to hit USD 567.44 Million by 2027.

Surgery requires a precise assortment of instruments, as many as 200 for a lengthy, complicated procedure, constantly organized before, during, and after the operation. The infection can be incurred by patients if the surgical instrument is left inside patients. According to a research paper published in the National Center for Biotechnology Information (NCBI), the ratio of patients with surgical instruments left inside in 2017 was between 0.3 to 1.0 per 1,000 abdominal operations. There are 1,500 instances of retained surgical instruments based on 28 million estimated operations performed in the US on an annual basis. The requirement of better inventory and asset management practices and growth of the surgical instruments market are expected to drive the surgical instrument tracking system market growth during the forecast period of 2020 to 2027. The Obesity Surgery Society of India reported that there had been a 100-fold increase in weight-loss surgeries in India in just 15 years. The number of weight-loss surgeries in India has shot from 200 in 2004 to a whopping 20,000 in 2019. Almost 1.3 million pregnant women had their babies by C-section in the United States in 2017, according to data released earlier this year [pdf] by the Centers for Disease Control and Prevention (CDC).

Other factors that drive market growth is to meet the unique device identification rules of the Food and Drugs Administration (FDA). Certain devices intended for multiple use and reprocessed before each use will require direct marking of the UDI on the device itself (many of these are surgical instruments). Product marking will be essential for latex gloves, catheters, basic surgical sponges, and other commodity supplies. However, the advancement and rising adoption of robotic surgery might reduce the number of surgical instruments used per surgery. Thus, government regulations and the implantation of new norms for instrument tracking are anticipated to increase the rate of market growth.

Request Free Sample Copy at:

https://www.marketresearchfuture.com/sample_request/1391

Segment Analysis

Global Surgical Instrument Tracking System Market has been segmented based on Components, Technology, and End-Use.

The market, based on components, has been segregated into hardware, software, services, and others. The hardware segment is further sub-segmented into tags, readers, and others.

Based on technology, the surgical instrument tracking system market has been divided into barcode tracking and radio frequency identification.

On the basis of end-use, the surgical instrument tracking system market is bifurcated into hospitals and others.

Regional Analysis

Global Surgical Instrument Tracking System Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is likely to hold the largest share of the global surgical instrument tracking system market during the assessment period owing to the regulatory reforms. Some of the renowned companies operating in the region include Fortive Corporation, Becton, Dickinson and Company, and Key Surgical. A large number of surgical procedures are expected to fuel the surgical instrument tracking system market in the region. The market in Europe is expected to propel during the forecast period, owing to factors such as rising government initiatives and the increasing number of vendors involved in the barcoding of instruments. In the UK, the Department of Health and MHRA guidance states that hospitals need to track instruments to at least tray level. Using GS1 barcodes means all instruments are traceable from production to the point of care. For patient safety, this is vital as it helps save track instruments. Lost instruments can cost a 500-bed hospital over £100,000 (USD 13,317) per year. Major companies are focusing on adopting international norms in Asian countries to increase patient safety and efficiency of inventory management. For example, Elite Medical, an Australian supplier of surgical tools with a presence of over 30 years in the region, provides instruments and tray tags, which includes smart tags, plastic tray tags, metal tray tags, RFID mesh tray tags, and others for tracking. The surgical instrument tracking system market in the Middle East & Africa is expected to witness a modest market growth rate from 2020 to 2027.

Key Players

MRFR recognizes the following companies as the Key Players in the global surgical instrument tracking system market— Getinge AB (Sweden), Becton, Dickinson and Company (US), Fortive Corporation (US), B. Braun Melsungen AG (Germany), Steris PLC (Ireland), Stanley Black & Decker, Inc. (US), Material Management Microsystems (US), Key Surgical (US), Haldor Advanced Technologies (US), TGX Medical Systems (US) and Others.

Browse Detailed TOC with COVID-19 Impact Analysis at:

https://www.marketresearchfuture.com/reports/surgical-instrument-tracking-system-market-1391

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 646 845 9312

Email: sales@marketresearchfuture.com

 

 

 

 

Comments

Post a Comment

Popular posts from this blog

Asthma Inhaler Device market poised to achieve significant growth in the years to come

  Asthma Inhaler Device Market Overview The global asthma inhaler devices market is likely to expand at 5.2 % CAGR during the forecast period (2017-2022) owing to the increasing prevalence of asthma among the crowd, asserts Market Research Future (MRFR). An inflammatory disease of the lungs, asthma is characterized by the difficulty faced while breathing. The symptoms of asthma are often triggered with exposure to allergens such as ragweed, pollen, animal dander, and irritants such as chemical fumes and smoke. Asthma leads to swelling of the inside walls of an asthmatic’s airways and makes airways sensitive to irritations. Drivers and Constraints Impacting the Market With the increasing prevalence of asthma especially among the children, the market is likely to propel over the assessment period. For instance, around 9 million children under five years of age die every year due to the presence of lung diseases. The increasing disposable income and rising preference for combinati...
Read more

Surgical Drapes and Gowns Market Trends with worldwide Industry Analysis, Features, Top Player and Forecast 2030

Image
  Surgical Drapes and Gowns Market Overview The Global Surgical Drapes and Gowns anticipated to have held a market value of USD 2.23 billion in the year 2017 and is expected to grow at a CAGR of 4.4% during the forecast period. Surgical drapes and surgical gowns are used during surgery to maintain sterile surgical field and reduce the risk of contamination and prevention of surgical site infection. Surgical drapes and surgical gowns are used by patients and healthcare professional such as, nurses and doctors. Hospitals, clinics and ambulatory surgical centers are the major end user of the surgical drapes and surgical gowns products. Similarly, According to Public Health England, during 2016 to 2017 around 139,691 procedures were performed in NHS based hospitals in England and about 1,635 surgical site infections (SSIs) detected during the same period. Increasing number of surgeries in healthcare settings and high incidences of hospital-acquired infections are expec...
Read more

Blood Grouping Reagents Market is Expected to Grow at a CAGR of 7.74% by 2027

  Blood Grouping Reagents Market Overview The global blood grouping reagents market is expected to register a CAGR of   7.74%  during the forecast period and is expected to hit USD 2,642.17 million by 2027. Blood grouping reagents are solutions that can be used to determine ABO, Rhesus, Kell and MNS blood groups These classifications of human blood are all based on the presence or absence of certain antigens on the surface of red blood cells. The growth of the global blood grouping reagents market is expected to be driven by increasing prevalence of chronic disorders, increasing spending in medical research. However, concern pertaining to efficiency and proficiency of test kits hamper the growth of this market. Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/10725 Segment Analysis The global blood grouping reagents market is mainly segmented into product, technique, and test type, end user. On the basis of product, the blood groupin...
Read more