Hospital Asset Management Systems Market Report 2025

The hospital asset management systems market size has grown exponentially in recent years. It will grow from $26.57 billion in 2024 to $32.61 billion in 2025 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to regulatory compliance, cost reduction initiatives, rising healthcare costs, patient safety, and inventory control.

The hospital asset management systems market size is expected to see exponential growth in the next few years. It will grow to $82.61 billion in 2029 at a compound annual growth rate (CAGR) of 26.2%. The growth in the forecast period can be attributed to integration with electronic health records, artificial intelligence (AI) and predictive analytics, global health crisis preparedness, telehealth and remote monitoring, energy efficiency and sustainability. Major trends in the forecast period include blockchain technology, collaboration and interoperability, digital twins for equipment, big data analytics for asset optimization, user-friendly interfaces, and training.

The anticipated increase in the number of hospitals is set to drive the growth of the hospital asset management systems market. Hospitals, as institutions dedicated to illness diagnosis, medical and surgical treatment, and patient accommodation, are witnessing a surge in numbers. This growth is attributed to heightened hospitalization rates, increased demand for ICU facilities, rising oxygen requirements, and an uptick in cases of chronic diseases. Hospital asset management systems play a pivotal role in efficiently managing assets within these healthcare facilities, ensuring their optimal use, maintenance, and tracking. A noteworthy example is the American Hospital Association's report in May 2023, indicating a rise in the number of hospitals in the US from 6,090 in 2021 to 6,129 in 2023. The total count of community hospitals also increased from 3,453 in 2021 to 3,514 in 2023, substantiating the driving force behind the growth of the hospital asset management systems market.

The increasing investment in healthcare is poised to be a key driver for the growth of the hospital asset management systems market. Healthcare investment involves the allocation of financial resources towards the development, innovation, and provision of medical services, technologies, and treatments, ultimately aimed at enhancing overall health and wellness. Hospital asset management systems play a crucial role in optimizing operational efficiency, streamlining resource allocation, and minimizing equipment downtime for cost-effective care delivery. A case in point is the Australian Government's commitment, as reported in March 2022 by the Australian Government Department of Health and Aged Care. The government is dedicating a substantial amount, reaching $132 billion in 2022-23 and escalating to $140 billion by 2025-26, totaling $537 billion over the next four years. This investment is directed towards fortifying the healthcare system, underscoring the pivotal role of healthcare investment in driving the growth of the hospital asset management systems market.

A significant trend in the hospital asset management systems market is the growing emphasis on product innovation by major companies to solidify their market positions. Notably, in April 2023, GE HealthCare Technologies Inc., a US-based medical technology company, introduced ReadySee, a novel asset management and network supervision solution. The Portrait Mobile monitoring solution, part of this innovation, is designed to convert data into actionable insights about devices and infrastructure. It aims to eliminate manual efforts in locating devices, self-manage cybersecurity protocols to identify vulnerabilities, provide risk scoring, and safeguard sensitive patient health information (PHI). ReadySee assists biomedical and IT healthcare professionals in ensuring device readiness, allowing clinical teams to be prepared for patient care. The Portrait Mobile monitoring solution specifically addresses the requirements of wireless and wearable monitoring, leveraging innovative technologies easily deployable on a hospital's IT infrastructure.

Major companies in the hospital asset management systems market are concentrating on advanced solutions, such as asset management software, to meet various critical industry needs. Asset management software solutions are digital tools designed to assist organizations in tracking, managing, and optimizing their physical and intangible assets throughout their entire lifecycle. For instance, in October 2024, GE HealthCare, a US-based healthcare technology and diagnostics firm, introduced two innovative solutions: ReadySee, an asset management and network supervision tool, and Portrait Mobile, a mobile monitoring system. ReadySee aims to transform data into actionable insights, eliminating the need for manual device location efforts and enhancing cybersecurity measures to safeguard sensitive patient health information. It analyzes behaviors and risks for both networked and non-networked devices to ensure their readiness for clinical use. Meanwhile, Portrait Mobile, which is awaiting FDA clearance, employs a medical body area network (MBAN) architecture to deliver reliable wireless monitoring for patients, granting them increased mobility without the limitations of traditional wired setups.

In July 2024, HID Global, a US-based security company, acquired Vizzia Technologies for an undisclosed sum. This acquisition aims to enhance HID Global's RTLS (Real-Time Location System) offerings in healthcare by integrating asset management and tracking solutions, thereby improving the experiences of patients, visitors, and staff while optimizing hospital operations and security. Vizzia Technologies is a US-based software company that provides hospital asset management systems for healthcare organizations.

Major companies operating in the hospital asset management systems market include McKesson Corporation, International Business Machines Corporation, Honeywell International Inc., Siemens Healthineers, GE Healthcare Technologies Inc., Zebra Technologies Corporation, Cerner Corporation, Trimble Inc., Philips Healthcare, Hill-Rom Holdings Inc., Midmark Corporation, Stanley Healthcare, Ascom Holding AG, Accruent LLC., Identiv Inc., RF Technologies Inc., CenTrak Inc., Fiix, Ekahau Inc., Jadak Technologies Inc., SmartPoint Technologies Pvt Ltd., Asset Panda, AiRISTA Flow Inc., Versus Technology Inc., Asset infinity, InnoMaint, Ezofficeinventory, Sonitor Technologies AS.

North America was the largest region in the hospital asset management systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital asset management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hospital asset management systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Hospital asset management systems encompass methodologies employed to organize, maintain, and oversee the assets utilized within a healthcare facility. These systems are designed to monitor and manage the physical assets within a hospital setting effectively.

The primary types of hospital asset management system products include radio-frequency identification (RFID), real-time location systems (RTLS), and ultrasound and infrared tags. RFID technology involves electronic tags that communicate with readers equipped with RFID chips via radio waves. These systems find diverse applications across patient management, equipment tracking and management, monitoring temperature and humidity, ensuring infection control and hygiene compliance, staff management, and pharmaceutical asset management. They are predominantly utilized within hospitals, laboratories, and similar healthcare settings.

The hospital asset management systems market research report is one of a series of new reports that provides hospital asset management systems market statistics, including hospital asset management systems industry global market size, regional shares, competitors with a hospital asset management systems market share, detailed hospital asset management systems market segments, market trends and opportunities, and any further data you may need to thrive in the hospital asset management systems industry. This hospital asset management systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hospital asset management systems market includes of revenues earned by entities by providing services such as asset tracking and identification, real-time location tracking, and workflow automation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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