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The report "" by MarketsandMarkets analyzes & studies the major market drivers, restraints, & opportunities in North America, Latin America, Europe, Asia, & Rest of the World.
The global asset management market is categorized into healthcare & pharmaceuticals products & applications. The healthcare market consists of products such as RFID, RTLS and ultrasound & infrared tags while, pharmaceuticals market consists of RFID technology. RFID in healthcare is the leading segment in global in 2012 due to increased applications in hospitals led by technological advancements. Wi-Fi based RTLS will be the fastest growing segment with close to 36% CAGR from 2012 to 2017. RFID tags healthcare & pharmaceuticals commanded the largest share of more than 58% of the global tags market in 2012, while ultrasound tags market is expected to grow at a CAGR of more than 17% from 2012 to 2017.
Increasing concern for patient safety, return on investment & cost savings by hospitals, decreasing cost of hardware & software, and technological advancements to improve the accuracy levels are the major drivers of the asset management market in hospitals. The technical issues, operational challenges, privacy data security & integrity issues and implementation costs & budgetary constraints are the major hurdles hampering the market growth.
North America is the dominant market for Hospital Asset Management Market with more than 44% of the global market share. Asia is expected to grow at the highest CAGR of 23.7% from 2012 to 2017 due to rising awareness and growing demand for enhanced supply chain & government efforts to standardize the RFID technology in countries such as China and India.
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