Summary

Surgical Instrument Tracking Systems Market Growth & Trends

The global surgical instrument tracking systems market size is anticipated to reach USD 513.1 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 12.4% from 2023 to 2030. The increasing need for inventory management and the implementation of Unique Device Identification (UDI) regulations are some of the major factors supporting the market growth. Furthermore, surgical tool manufacturers are expected to track their products from manufacturing to distribution. The goal of device tracking is to ensure that instrument manufacturers set up mechanisms that allow them to locate devices in commercial distribution quickly. On July 22, 2022, the U.S. Food and Drug Administration (FDA) introduced the UDI system to track medical devices in the U.S. throughout the entire supply chain, from manufacturing to distribution to patient use.

The implementation of the UDI regulations is expected to create strong growth opportunities for the market. According to the guidelines, UDI labeling must be conducted by relevant stakeholders, including manufacturers, specification developers, re-packagers, re-labelers, and reprocessors at the individual instrument level. Surgical instrument tracking systems also enable better monitoring by competent authorities while reducing medical errors, thus propelling the demand. The usability of such solutions in inventory management and during the work cycle, including surgeries, storage, sterilization procedures, and post-surgery, are other drivers contributing to market growth. For instance, in April 2023, Northern Digital Inc. introduced the Polaris Lyra.

It is a compact optical tracker for tracking instruments in clinical & surgical suites and is designed for precise procedures using smaller instruments, with a high measurement rate and accuracy for real-time tracking and visualization. COVID-19 significantly impacted the market. The high risk of COVID-19 transmission in ORs, surgery suspension, and the declining rate of surgeries impacted the market. Although the number of elective surgeries plunged during the COVID-19 pandemic, the volume is expected to return to pre-COVID numbers, which is estimated to drive market growth. Also, the pandemic has highlighted the need for surgical instrument-tracking systems to track and control infections at hospitals and safeguard patient health.

Surgical Instrument Tracking Systems Market Report Highlights

• The barcode technology segment held the largest market share of 81.9% in 2022 owing to several advantages of this technology, such as ease of handling and low installation cost

• The RFID segment is projected to grow at the fastest CAGR during the forecast period due to the rising demand from end-users for technologically advanced instrument traceability and inventory solutions

• In 2022, the hardware segment dominated the market and accounted for the largest share of 45.4% of the revenue. It is anticipated to maintain its leading position growing at the fastest CAGR over the forecast period

• The hospitals segment held the largest market share in 2022 owing to the increased product adoption in hospitals for inventory management and facilitating better patient safety

• North America dominated the global market in 2022 and held the largest revenue share of 37.6%.The region is expected to continue its dominance during the forecast period

• The presence of highly developed healthcare infrastructure and the availability of advanced products are projected to drive regional market growth

• Asia Pacific is anticipated to grow at a significant CAGR over the forecast years

ページTOPに戻る

Table of Contents

Table of Content

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Market Definitions
1.2. Regional Scope
1.3. Estimates and Forecast Timeline
1.4. Research Methodology
1.5. Information Procurement
1.5.1. Purchased Database
1.5.2. GVR’s Internal Database
1.5.3. Secondary Sources & Third-Party Perspectives
1.5.4. Primary Research
1.6. Information Analysis
1.6.1. Data Analysis Models
1.7. Market Formulation & Data Visualization
1.8. Model Details
1.8.1. Commodity Flow Analysis
1.9. List of Secondary Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Trends and Outlook
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Increasing incidence of retained surgical instrument cases
3.3.1.2. Escalating need for surgical instrument inventory management
3.3.1.3. Technological advancement
3.3.2. Market Restraint Analysis
3.3.2.1. High cost associated with the implementation of surgical instrument tracking system
3.4. Business Environment Analysis
3.4.1. PESTLE Analysis
3.4.2. Porter’s Five Forces Analysis
3.5. Technology Overview
3.6. COVID-19 Impact Analysis
Chapter 4. Technology Business Analysis
4.1. Surgical Instruments Tracking Systems Market: Technology Movement Analysis & Market Share, 2022 & 2030
4.2. Barcodes
4.2.1. Global Barcodes Market, 2018 - 2030 (USD Million)
4.2.1.1. Others Market, 2018 - 2030 (USD Million)
4.3. RFID
4.3.1. RFID Market, 2018 - 2030 (USD Million)
Chapter 5. Product Business Analysis
5.1. Surgical Instruments Tracking Systems Market: Product Movement Analysis & Market Share, 2022 & 2030
5.2. Hardware
5.2.1. Hardware Market, 2018 - 2030 (USD Million)
5.3. Software
5.3.1. Software Market, 2018 - 2030 (USD Million)
5.4. Services
5.4.1. Services Market, 2018 - 2030 (USD Million)
Chapter 6. End-Use Business Analysis
6.1. Surgical Instruments Tracking Systems Market: End-Use Movement Analysis & Market Share, 2022 & 2030
6.2. Hospitals
6.2.1. Hospitals Market, 2018 - 2030 (USD Million)
6.3. Others
6.3.1. Others Market, 2018 - 2030 (USD Million)
Chapter 7. Regional Business Analysis
7.1. Regional Market Snapshot
7.2. Market Share Analysis by Country, 2022
7.3. North America
7.3.1. North America Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.3.2. U.S.
7.3.2.1. U.S. Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.3.2.2. Key Country Dynamics
7.3.2.3. Regulatory Framework
7.3.2.4. Competitive Scenario
7.3.3. Canada
7.3.3.1. Canada Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.3.3.2. Key Country Dynamics
7.3.3.3. Regulatory Framework
7.3.3.4. Competitive Scenario
7.4. Europe
7.4.1. Europe Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.2. Germany
7.4.2.1. Germany Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.2.2. Key Country Dynamics
7.4.2.3. Regulatory Framework
7.4.2.4. Competitive Scenario
7.4.3. UK
7.4.3.1. UK Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.3.2. Key Country Dynamics
7.4.3.3. Regulatory Framework
7.4.3.4. Competitive Scenario
7.4.4. France
7.4.4.1. France Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.4.2. Key Country Dynamics
7.4.4.3. Regulatory Framework
7.4.4.4. Competitive Scenario
7.4.5. Italy
7.4.5.1. Italy Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.5.2. Key Country Dynamics
7.4.5.3. Regulatory Framework
7.4.5.4. Competitive Scenario
7.4.6. Spain
7.4.6.1. Spain Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.6.2. Key Country Dynamics
7.4.6.3. Regulatory Framework
7.4.6.4. Competitive Scenario
7.4.7. Denmark
7.4.7.1. Denmark Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.7.2. Key Country Dynamics
7.4.7.3. Regulatory Framework
7.4.7.4. Competitive Scenario
7.4.8. Sweden
7.4.8.1. Sweden Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.8.2. Key Country Dynamics
7.4.8.3. Regulatory Framework
7.4.8.4. Competitive Scenario
7.4.9. Norway
7.4.9.1. Norway Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.4.9.2. Key Country Dynamics
7.4.9.3. Regulatory Framework
7.4.9.4. Competitive Scenario
7.5. Asia Pacific
7.5.1. Asia Pacific Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.5.2. Japan
7.5.2.1. Japan Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.5.2.2. Key Country Dynamics
7.5.2.3. Regulatory Framework
7.5.2.4. Competitive Scenario
7.5.3. China
7.5.3.1. China Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.5.3.2. Key Country Dynamics
7.5.3.3. Regulatory Framework
7.5.3.4. Competitive Scenario
7.5.4. India
7.5.4.1. India Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.5.4.2. Key Country Dynamics
7.5.4.3. Regulatory Framework
7.5.4.4. Competitive Scenario
7.5.5. South Korea
7.5.5.1. South Korea Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.5.5.2. Key Country Dynamics
7.5.5.3. Regulatory Framework
7.5.5.4. Competitive Scenario
7.5.6. Australia
7.5.6.1. Australia Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.5.6.2. Key Country Dynamics
7.5.6.3. Regulatory Framework
7.5.6.4. Competitive Scenario
7.5.7. Thailand
7.5.7.1. Thailand Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.5.7.2. Key Country Dynamics
7.5.7.3. Regulatory Framework
7.5.7.4. Competitive Scenario
7.6. Latin America
7.6.1. Latin America Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.6.2. Brazil
7.6.2.1. Brazil Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.6.2.2. Key Country Dynamics
7.6.2.3. Regulatory Framework
7.6.2.4. Competitive Scenario
7.6.3. Mexico
7.6.3.1. Mexico Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.6.3.2. Key Country Dynamics
7.6.3.3. Regulatory Framework
7.6.3.4. Competitive Scenario
7.6.4. Argentina
7.6.4.1. Argentina Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.6.4.2. Key Country Dynamics
7.6.4.3. Regulatory Framework
7.6.4.4. Competitive Scenario
7.7. MEA
7.7.1. MEA Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.7.2. South Africa
7.7.2.1. South Africa Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.7.2.2. Key Country Dynamics
7.7.2.3. Regulatory Framework
7.7.2.4. Competitive Scenario
7.7.3. Saudi Arabia
7.7.3.1. Saudi Arabia Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.7.3.2. Key Country Dynamics
7.7.3.3. Regulatory Framework
7.7.3.4. Competitive Scenario
7.7.4. UAE
7.7.4.1. UAE Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.7.4.2. Key Country Dynamics
7.7.4.3. Regulatory Framework
7.7.4.4. Competitive Scenario
7.7.5. Kuwait
7.7.5.1. Kuwait Surgical Instruments Tracking Systems Market, 2018 - 2030 (USD Million)
7.7.5.2. Key Country Dynamics
7.7.5.3. Regulatory Framework
7.7.5.4. Competitive Scenario
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Strategy Mapping
8.2.1. Expansion
8.2.2. Acquisition
8.2.3. Collaborations
8.2.4. New Product Launches
8.2.5. Others
8.3. Company Profiles/Listing
8.3.1. Censis Technologies, Inc
8.3.1.1. Overview
8.3.1.2. Financial Performance
8.3.1.3. Product Benchmarking
8.3.1.4. Strategic Initiatives
8.3.2. Xerafy
8.3.2.1. Overview
8.3.2.2. Financial Performance
8.3.2.3. Product Benchmarking
8.3.2.4. Strategic Initiatives
8.3.3. Getinge AB
8.3.3.1. Overview
8.3.3.2. Financial Performance
8.3.3.3. Product Benchmarking
8.3.3.4. Strategic Initiatives
8.3.4. Haldor Advanced Technologies
8.3.4.1. Overview
8.3.4.2. Financial Performance
8.3.4.3. Product Benchmarking
8.3.4.4. Strategic Initiatives
8.3.5. Microsystem, Inc.
8.3.5.1. Overview
8.3.5.2. Financial Performance
8.3.5.3. Product Benchmarking
8.3.5.4. Strategic Initiatives
8.3.6. B. Braun Melsungen AG
8.3.6.1. Overview
8.3.6.2. Financial Performance
8.3.6.3. Product Benchmarking
8.3.6.4. Strategic Initiatives
8.3.7. BD
8.3.7.1. Overview
8.3.7.2. Financial Performance
8.3.7.3. Product Benchmarking
8.3.7.4. Strategic Initiatives
8.3.8. Ternio Group LLC
8.3.8.1. Overview
8.3.8.2. Financial Performance
8.3.8.3. Product Benchmarking
8.3.8.4. Strategic Initiatives
8.3.9. FingerPrint Medical Ltd.
8.3.9.1. Overview
8.3.9.2. Financial Performance
8.3.9.3. Product Benchmarking
8.3.9.4. Strategic Initiatives
8.3.10. SpaTrack Medical Limited
8.3.10.1. Overview
8.3.10.2. Financial Performance
8.3.10.3. Product Benchmarking
8.3.10.4. Strategic Initiatives