Healthcare Asset Management Market Size, Share, Growth Analysis, By Product(Radiofrequency Identification (RFID) Devices [Hardware (Tags {Passive Tags “High-Frequency (HF) Tags, Ultra-High-Frequency (UHF) Tags, Low-Frequency (LF) Tags “, Active Tags}), By Application(Hospital Asset Management [Equipment Tracking and Management, Patient Management, Temperature and Humidity Monitoring, Staff Management), By Region - Industry Forecast 2024-2031

In 2023, North America held the highest position in the healthcare asset management industry with a market share of 42.0%. This growth is mostly attributed to the advanced healthcare infrastructure, investments in cutting-edge technology, and strict regulatory environment of the region. The U.S. healthcare asset management market will witness a high growth rate in the period from 2024 to 2031. This is because key players exist in the market, patient safety is placed at the forefront, and the latest versions of digital technology in the healthcare sector are implemented. In addition, the implementation of modern technologies in the health sector in the U.S. elevates the demand for healthcare asset management in that country. The health sector in the U.S. is advancing, and the aspect of patient safety is becoming a growing concern. Recent emerging technologies have made it easier for asset management and streamlined processes for most healthcare companies across the country.  

In the forecast period, the healthcare asset management market of Asia Pacific is expected to grow at the fastest pace with a CAGR of 23.9%. This is attributed to the growth of healthcare infrastructures of the region, the adoption of digital technology by health care industries, and the expansion opportunities in developing economies. Asia-Pacific is witnessing significant growth in the healthcare infrastructure due to rising investments by the government and the private sector. For instance, the Australian government's Department of Health and Aged Care has recently unveiled a four-year health development plan, which is to pledge USD 372.39 billion in the effort to fortify the nation's health service. The region's increasing healthcare spending is predicted to stimulate the demand for leading-edge solutions such as asset management systems.