Get In Touch

Surgical instrument tracking systems have been available for use in healthcare for a long time. Today, surgical instrument tracking systems have become a necessity. The past four to five years has seen significant evolution in tracking systems as new technology and smartphones and tablets have been incorporated into the healthcare arena.

There are a number of benefits of surgical instrument tracking systems. Earlier, it was only used to manage the instrument count sheet and for some basic traceability of instruments. However, with the advent of technology, the use of tracking systems has become more comprehensive. Introduction of 2D barcodes has helped sterile processing staff members to more accurately identify instruments and also help in establishing a robust history of each instrument’s use. The information helps the staff to determine whether the instrument needs to be repaired. Radio frequency identification (RFID) helps to identify and track the device in the medical facility. Use of RFID tags and surgical tracking management solutions in healthcare organizations can automatically track critical equipment and ensure that the correct and appropriate tools are available for each surgical procedure.

Very often, staff members are unable to find the required equipment, leading to wastage of time. Moreover, if the staff member is unable to find an instrument after surgery, the patient must remain under anesthesia till the time the instrument is located. This leads to loss of time in the operating room (OR) and also wastes staff time. A number of times, hospital supplies, devices,  or equipment are misplaced or even lost due to inefficient supply chain management which in turn leads to OR working at decreased efficiency due to uneven equipment flow. Hospitals are using surgical instrument tracking systems to overcome such challenges.

The usage of surgical instrument tracking systems among hospitals has led to improved patient safety, and fast and accurate instrument identification, leading to optimized process. Therefore, the vital driver for the growth of the surgical instrument tracking systems market is the comprehensive benefits that the system provides as well as the need among clinics and research centers to improve the workflow. The market presents various opportunities for players to bring innovation in software and hardware components of the system.

One of the other prominent factors propelling the growth of the surgical instrument tracking systems market is the establishment of unique device identification (UDI) system by Food and Drug Administration (FDA). As a result of the UDI, most of the devices include unique device identifier in human and machine readable form. The device labeler has to submit certain level of information about each device to the Global Unique Device Identification Database (GUDID), which is FDA’s database. Public can easily access, search, and download the required information from the database.

The surgical instrument tracking systems market can be segmented on the basis of component into hardware, software, and services. The market can also be segmented on the basis of technology. The technology segment can be further sub-categorized into barcode technology and RFID technology. By application, the market can be bifurcated into hospitals, clinics and research centers. The market can be further segmented on the basis of regions into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Key players in the surgical instrument tracking systems market include Keir Surgical, Key Surgical, Aesculap, Inc., Censis Technologies, Inc. Synergy Health ltd., Xerafy, TGX Medical Systems, STERIS plc, Microsystems, McKesson Corporation, Haldor Advanced Technologies, GS1 UK, Mobile Aspects, Inc., STANLEY Healthcare, Becton, Dickinson and Company, B. Braun Melsungen AG, and Applied Logic, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market 

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Surgical Instrument Tracking Systems Market

Pre Book