Real Time Location Systems (RTLS) in Healthcare Market is anticipated to hit $2.92 billion by 2023 at a CAGR of 19.2%

Americas region holds the largest market share in the Real Time Location Systems Market, and is anticipated to reach $1.32 billion by 2023 at a CAGR of 15.9%.

HYDERABAD, TELANGANA, INDIA, June 18, 2018 /EINPresswire.com/ -- According to the new market research report by IndustryARC titled “Real Time Location Systems Market: By Component (Tags, Software, Sensor, Services) Technology (Active RFID [Bluetooth, WI-
Fi, Others], Passive RFID) Tracking Use Cases (Patient, Asset, Personnel, Temperature Monitoring)-Forecast (2018-2023)”, the market is driven by the aging population and healthcare reforms.

Americas held the largest market share in the Real Time Location Systems Market

However, APAC witnesses highest growth during the forecast period and is expected to reach $517.6 million by 2023 at a CAGR of 24.6%. Healthcare industry has primarily driven the demand for RTLS in the North American market. North America established healthcare IT Alliance, due to which, companies in this market are able to readily organize RTLS solutions in the healthcare industry. Furthermore, a major factor driving the RTLS market in North America is their government support. The U.S. government installed RTLS solutions in several hospitals and medical centers. The key end-users in this region include Hospitals, elder care facilities, and laboratories among others.

Selected Product/Market Life Cycle Analysis done in the full report

The lifecycle of a RTLS technology takes into account the whole lifespan of a device; from the time it is manufactured and assembled to the end of its utility leading to disposal or recycling. The average life span of a RTLS is 10 to 15 years. However, growing technology and development of products with improved capabilities is the biggest factor in making the existing products obsolete. Location tracking is constantly evolving and these products have a typical lifespan of around eight years before losing significant ground to products in the market. As RTLS devices being developed are largely based on location tracking technologies and integrated with such systems, the average lifespan of devices will come down to eight to ten years.

In most of the big hospitals where RTLS have been in use, the systems are projected to have lifespan of around 15 years and these are upgraded with newer technologies and wireless systems to adapt with the innovations and technological advancements.

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Excerpts on Market Growth Factors

The adoption of Real Time Location Systems in Healthcare is spurred by falling prices and increased penetration in the APAC region.The high return on investment from RTLS is estimated to be the major driver of growth as companies look to lower operational costs and maximize efficiency and profit.
The growth of the elderly care market will be another major driver for adoption of patient tracking.
The healthcare RTLS market growth is projected due to strong growth in the patient and elderly care segments.
Patient tracking in particular will drive the RTLS market as the market is projected to grow at 22.1% CAGR through 2021 to reach $762 million.
The main driving factor for this market would be increment in rising tide of health care- associated infections which would lead the RTLD Healthcare market.
The healthcare market has witnessed increased adoption of RTLS systems with Wi-Fi technology as end users utilize the already present infrastructure to drive down installation costs for RTLS.

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Key players of Real Time Location Systems in Healthcare Market:

The top five players in Real Time Location in healthcare Market are: Ekahau Inc. (U.S.), Awarepoint Corp. (U.S.), GE Healthcare (U.S.), Zebra Technologies (U.S.), and Stanley, Black and Decker Inc. (U.S.).
These companies have focused on agreements with end user industries in order to supplement revenue and gain market position in the growing RTLS market as well as enhancing their product capabilities in order to capture new applications with their product portfolio.
Mergers and acquisitions are set to play a significant role in growth of the key players. Mergers and acquisitions have been undertaken to augment product portfolio and leverage capabilities of the acquired company.
Stanley, Black and Decker acquired Sentient Health, a healthcare inventory optimization solutions provider. This acquisition is intended to leverage Sentient's asset optimization solutions in order to offer new functionality to the company's RTLS solutions.
Zebra Technologies acquired Motorola Solutions’ Enterprise division. This acquisition has enhanced Zebra Technologies mobile solutions product portfolio.

Real Time Location Systems in Healthcare Market Report is segmented as indicated below
Real Time Location Systems in Healthcare Market By Components:
1.Tags
2.Software
3.Sensors
4.Services
Real Time Location Systems in Healthcare Market By Application
1.Asset/Inventory Tracking
2.Work in Progress Tracking (WIP)
3.Personal Tracking
4.Others
Real Time Location Systems in Healthcare Market By Technology
1 Introduction
2 Passive RFID
3 Active RFID
Real Time Location Systems in Healthcare Market by End User Industry
1.Hospitals
2.Elder Care Facilities
3.Emergency Medical Services
4.Laboratories
Real Time Location Systems in Healthcare By Geography (Covers 12 + Countries)
Real Time Location Systems in Healthcare Market By Entropy

Companies Cited/Referenced/Interviewed:

1.Sonitor Technologies
2.Mojix Inc;
3.Versus Technology Inc;
4.ThingMagic
5.Teletracking Technologies
6.Hewlett Packard Development Company
7.Centrak Inc;
8.Oatsystems Inc;
9.Radianse Inc;
10.Ekauahau Inc;
11.Company 13
12.Company 14
13.Company 15+

Related Reports:

A.Real Time Location System Market
https://industryarc.com/Report/1294/realtime-location-system-market-analysis.html

B.Location Intelligence and Location Analytics Market
https://industryarc.com/Report/236/Global-Location-intelligence-location-analytics-Market-Report.html

What can you expect from the report?
The Real Time Location Systems in Healthcare Market is prepared with the Main Agenda to cover the following 20 points:
1.Market Size by Product Categories
2.Market trends
3.Manufacturer Landscape
4.Distributor Landscape
5.Pricing Analysis
6.Top 10 End user Analysis
7.Product Benchmarking
8.Product Developments
9.Mergers & Acquisition Analysis
10.Patent Analysis
11.Demand Analysis (By Revenue & Volume)
12.Country level Analysis (15+)
13.Competitor Analysis
14.Market Shares Analysis
15.Value Chain Analysis
16.Supply Chain Analysis
17.Strategic Analysis
18.Current & Future Market Landscape Analysis
19.Opportunity Analysis
20.Revenue and Volume Analysis


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IndustryARC
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