A recent research of Markets and Markets has found that the global healthcare asset management market is expected to amount to $29.6bn (€26.6bn) by 2020 from an estimated $6.7bn (€6bn) in 2015.
The compound annual growth rate (CAGR) would reach 34.6% during the forecast period.
Among the factors driving the growth in the market, the report lists strong concerns for patient safety, decreasing cost of hardware and software, technological advancements, increasing use in the pharmaceutical industry, and increasing use in hospitals to enhance staff productivity.
The research also points out potential restraining factors such as technical and operational issues, privacy and ethical concerns, and initial investment requirements.
North America would lead the healthcare asset management market by 2020, expected to grow at a CAGR of 35% from 2015 to 2020. According to the study, that could be explained by the large number of US based RFID and RTLS technology providers and ease of access to this region.
The global hospital asset management market segment commanded the largest share of 89.7% of the global healthcare asset management market in 2015 and is expected to grow at a CAGR of more than 35.8% from 2015 to 2020, the report shows.
Major players in the market are AeroScout (US), Ekahau (US), GE Healthcare (UK), Awarepoint Corporation (US), IBM Corporation, (US), and Siemens Healthcare (Germany).