Hospital Asset Management Systems Market Size, Share, Growth Analysis, By Product(Radiofrequency Identification (RFID) Devices, Real-time location systems (RTLS) Devices), By Application(Patient Management, Equipment Tracking & Management, Temperature & Humidity Control, Infection Control), By Region - Industry Forecast 2024-2031

Hospital Asset Management Systems Market size was valued at USD 13.88 billion in 2019 and is poised to grow from USD 17.08 billion in 2023 to USD 90.65 billion by 2031, growing at a CAGR of 23.2% in the forecast period (2024-2031).

Asset management in hospitals is simply a highly organized and economical method of organising, purchasing, maintaining, using, and disposing of any healthcare organization's machinery, equipment, and physical assets. Asset management is vital in maintaining that a hospital's vital equipment is regularly maintained, put through testing, and kept in dependable operating order.

As healthcare organisations try to reduce asset search times, automate asset management procedures, and enhance an asset procurement strategy, hospital asset tracking use is increasing.

It is also expected that the introduction of technical innovations like Zigbee and smart active labels (SAL) will increase demand. Asset management has become more productive and efficient because to advancements like near field communication. Additionally, in the upcoming years, it is anticipated that growing privacy concerns in hospitals and healthcare organisations, an increase in the use of the hospital and pharmaceutical industries for efficient supply chains, and benefits like a higher return on investment and cost savings will all contribute to the growth of hospital asset management.

US Hospital Asset Management Systems Market is poised to grow at a sustainable CAGR for the next forecast year.