Healthcare Publications Surgical Instrument Tracking System Market

Global Surgical Instrument Tracking System Market - Overview:
The Global Surgical Instrument Tracking System (IGRT) Market is growing exponentially
owing to the the impact of the UDI regulation and rising need for inventory management
are the major factor driving the Surgical Instrument Tracking System Market. The global
surgical instrument tracking system market is expected to grow at a CAGR of 18% during
the forecasted period.
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Furthermore, the increasing adoption of instrument and medical devices tracking products
by private and public hospitals is considered as a major factor contributing to the growing
market. The major challenges such as vast inventory management and tracing of
instruments and medical devices during the work cycle, such as during surgery, post-
surgery, and sterilization procedures are faced by the hospitals. Thus, the need of tracking
systems for medical devices and instrument is growing at an exponential rate, which is
anticipated to propel the growth of the market segment.
Barcode technology is the most commonly type of tracking technology used and adoption in
medical devices industry. This technology is the key element that contributes to its high
revenue share. In addition, the low installation cost has resulted in its growing applications
in hospitals and ambulatory surgery centers. In a report published by the National Centre
for Biotechnology Information states that the retained surgical objects has a fatality rate of
approximately 2%. Hence the need for advanced technologies such as RFID and 2D
barcodes, to track the instruments used in operation theatre is growing all these factors are
expected to boost growth.
The surgical instrument tracking devices is very effective and helpful tool for healthcare
professional to access any instrument or device and is considered as a time saving tools all
these factor is responsible for the growth of surgical instrument tracking system market.
According to the Centre for Disease Control (CDC), annual death of approx. 90,000 in the
U.S. is due to hospital-acquired infections. Thus, in order to prevent contaminated
instruments from causing the infection and for better inventory management, use of
tracking is expected to grow at high rate in the near future.
Global Surgical Instrument Tracking System Market - Company Analysis:
The surgical instrument tracking systems market is considered to be highly fragmented and
is based on clinical results of product and their novel product launches. Thus, the major
players have employed various strategies such as agreements, acquisitions, market
initiatives, high expense on research and development, clinical trials, new product launches,
partnerships, and joint ventures to increase their footprints in this market.
Technological advancement in software is a key factor driving the adoption of tracking
software for inventory and surgical instruments management. For instance, IMPRESS
instrument management software delivers information on serialized surgical instruments,
assisting in inventory management and providing ongoing support through continuous
assistance through phone.
Braun Melsungen AG, BD, Censis Technologies, Inc., Xerafy, Haldor Advanced Technologies,
Microsystems, Inc., Applied Logic, Inc., Infor, Intelligent InSites, Key Surgical, Mobile
Aspects Inc., STANLEY Healthcare, TGX Medical Systems, Vizbee RFID Solutions, Roboz
Surgical Instrument Co., JJ International Instruments, GEISTER MEDIZINTECHNIK GmbH,
ESI, Millennium Surgical Corp and Katalyst Surgical, LLC and others are some of the
prominent players at the forefront of competition in the Global Surgical Instrument Tracking
System Market and are profiled in MRFR Analysis.
Global Surgical Instrument Tracking System Market - Regional Analysis:
According to regions, the global Surgical Instrument Tracking System Market is dominated
by North America. USA held the largest market share for the global surgical instrument
tracking systems market in the year 2016. Availability of advanced products and highly
developed healthcare infrastructure is anticipated to drive the demand for instruments and