August 29, 2022 10:15 ET | Source: Verified Market Research Verified Market Research
Boonton, New Jersey, UNITED STATES
Jersey City, New Jersey, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Surgical Instrument Tracking System Market” By Product (Hardware, Software, and Services), By Technology (Barcodes and RFID), By End-User (Hospitals and Others), and By Geography. According to Verified Market Research, the Surgical Instrument Tracking System Market size was valued at USD 196.9 Million in 2021 and is projected to reach USD 685.6 Million by 2030, growing at a CAGR of 14.87% from 2022 to 2030.
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Global Surgical Instrument Tracking System Market Overview
The necessity to automatically track vital equipment, such as surgical instruments, in order to improve patient outcomes, abide by the U.S. Food & Drug Administration’s Unique Device Identification (UDI) program, and comply with these requirements is driving the market expansion. Additionally, developing nations like China and India as well as the Middle East, Latin America, and Southeast Asia are projected to offer significant growth prospects for companies that make surgical equipment tracking systems.
Healthcare businesses in these economies may have opportunities for expansion due to rising healthcare spending and infrastructure. In order to comply with the new Unique Device Identification (UDI) tracking regulations set forth by the U.S. FDA, surgical instrument monitoring systems enable automatic identification of medical equipment, including tools. The need for compliance-enabling solutions, like surgical instrument monitoring systems, is anticipated to increase as the number of devices subject to UDI continues to rise. The regulatory standards for traceability from manufacturer to patient have also been established by a number of other governmental agencies.
The major players in the market are 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, Applied Logic, Inc.
Verified Market Research has segmented the Global Surgical Instrument Tracking System Market On the basis of Product, Technology, End-User, and Geography.
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