Summary

RTLS In Healthcare Market Growth & Trends

The global RTLS in healthcare market size is anticipated to reach USD 7.96 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 18.69% from 2023 to 2030. The growth of the market depends on several factors, including increasing demand for asset tracking, growing focus on workflow optimization, and the need for improved patient safety.

Most of the industries including healthcare are adopting the RTLS system to lower the risk of workplace accidents. For instance, according to the World Health Organization (WHO), there is a 1 in 300 chance of a patient being harmed in healthcare due to medical errors. These medical errors are associated with specimen misidentification, incorrect blood transfusion, and adverse drug events, which are primarily caused by patient and medication misidentification. Real Time Location System (RTLS) technology can be vital in reducing these errors.

Furthermore, RTLS technology can improve patient care by offering real-time location and status information. For instance, hospitals can utilize RTLS technology to track and monitor patients with chronic diseases such as heart disease, and diabetes and warn healthcare personnel when patients need assistance. This can aid in the prevention of medical emergencies and the reduction of consequences.

COVID-19 has heightened interest in RTLS applications related to infection control. RTLSs can help enhance hand hygiene compliance by monitoring temperatures, air pressure, and other environmental conditions within healthcare facilities. Despite the fact that RTLS technology has traditionally been utilized for automated contact tracking, application cases have increased significantly during the COVID-19 pandemic. Staff can use RTLSs to swiftly identify who has been exposed to a known source of disease and execute isolation precautions to prevent further disease exposure. This is especially important when a patient's diagnosis is discovered several days into a hospitalization or after a visit to an outpatient facility. For instance, Sonitor Technologies offers two complementary contact tracing technologies to prevent and control the spread of COVID-19 in hospitals. This technology is used to track and monitor patient location and movement.

RTLS In Healthcare Market Report Highlights

• In terms of component, the hardware segment held the largest market share in terms of market revenue. However, the fastest growth is anticipated to be registered by the services segment due to the rise in the adoption of seamless technological services

• Based on the application, the asset tracking segment held the largest market share in 2022. This segment allows better real-time monitoring of patients and various medical equipment

• Based on technology, the RFID segment dominated the market in terms of revenue in 2022 and it is also expected to grow at the fastest CAGR during the forecast period due to continuous technological advancements

• Based on the facility type,the hospitals & healthcare facilities segment held the largest share of the market in 2022 owing to the strong adoption of RTLS technology for better patient monitoring and assets tracking services

• Based on region, North America held the largest share in terms of market revenue in 2022. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period. The fastest growth can be attributed to factors such as improving healthcare infrastructure and the presence of a large number of pharmaceutical industries

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation
1.2. Estimates and Forecast Timeline
1.3. Research Methodology
1.3.1. Information procurement
1.3.2. Purchased Database
1.3.3. GVR's Internal Database
1.3.4. Secondary Sources
1.3.5. Primary Research
1.3.6. Details of Primary Research
1.4. Information or Data Analysis
1.4.1. Data Analysis Models
1.5. 1.5 Market Formulation & Validation
1.5.1. Commodity Flow Analysis
1.6. List of Secondary Sources
1.7. List of Abbreviations
1.8. Research Objectives
1.8.1. Objective - 1
1.8.2. Objective - 2
1.8.3. Objective - 3
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 Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Rising security and safety concerns of patients
3.2.1.2. High ROI with reduced expenditure
3.2.2. Market Restraint Analysis
3.2.2.1. High installation and maintenance cost
3.2.2.2. Data security and privacy issues
3.3. Industry Analysis Tools
3.3.1. Porter's Five Forces Analysis
3.3.2. PESTLE Analysis
3.4. COVID-19 Impact Analysis
Chapter 4. RTLS in Healthcare Market: Component Estimates & Trend Analysis
4.1. Segment Definitions
4.2. RTLS in Healthcare Market: Component Segment Dashboard
4.3. RTLS in Healthcare Market: Component Movement & Market Share Analysis
4.4. Hardware
4.4.1. Hardware Market, 2018 - 2030 (USD Million)
4.5. Software
4.5.1. Software Market, 2018 - 2030 (USD Million)
4.6. Services
4.6.1. Services Market, 2018 - 2030 (USD Million)
Chapter 5. RTLS in Healthcare Market: Technology Estimates & Trend Analysis
5.1. Segment Definitions
5.2. RTLS in Healthcare Market: Technology Segment Dashboard
5.3. RTLS in Healthcare Market: Technology Movement & Market share Analysis
5.4. RFID
5.4.1. RFID Market, 2018 - 2030 (USD Million)
5.5. Wi-Fi
5.5.1. Wi-Fi Market, 2018 - 2030 (USD Million)
5.6. UWB
5.6.1. UWB Market, 2018 - 2030 (USD Million)
5.7. BLE
5.7.1. BLE Market, 2018 - 2030 (USD Million)
5.8. Others
5.8.1. Others Market, 2018 - 2030 (USD Million)
Chapter 6. RTLS in Healthcare Market: Application Estimates & Trend Analysis
6.1. Segment Definitions
6.2. RTLS in Healthcare Market: Application Segment Dashboard
6.3. RTLS in Healthcare Market: Application Movement & Market share Analysis
6.4. Inventory/Asset Tracking & Management
6.4.1. Inventory/Asset Tracking & Management Market, 2018 - 2030 (USD Million)
6.5. Personnel Locating & Monitoring
6.5.1. Personnel Locating & Monitoring Market, 2018 - 2030 (USD Million)
6.6. Access Control & Security
6.6.1. Access Control & Security Market, 2018 - 2030 (USD Million)
6.7. Environmental Monitoring
6.7.1. Environmental Monitoring Market, 2018 - 2030 (USD Million)
6.8. Supply Chain Management & Automation
6.8.1. Supply Chain Management & Automation Market, 2018 - 2030 (USD Million)
6.9. Others
6.9.1. Others Market, 2018 - 2030 (USD Million)
Chapter 7. RTLS in Healthcare Market: Facility Type Estimates & Trend Analysis
7.1. Segment Definitions
7.2. RTLS in Healthcare Market: Facility Type Segment Dashboard
7.3. RTLS in Healthcare Market: Facility Type Movement & Market share Analysis
7.4. Hospitals & Healthcare Facilities
7.4.1. Hospitals & Healthcare Facilities Market, 2018 - 2030 (USD Million)
7.5. Senior Living Facilities
7.5.1. Senior Living Facilities Market, 2018 - 2030 (USD Million)
Chapter 8. RTLS in Healthcare Market: Regional Estimates & Trend Analysis
8.1. RTLS in Healthcare Market: Regional Movement Analysis, 2022 & 2030
8.2. North America
8.2.1. North America RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.2.2. U.S.
8.2.2.1. Key Country Dynamics
8.2.2.2. Competitive Scenario
8.2.2.3. U.S. RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.2.3. Canada
8.2.3.1. Key Country Dynamics
8.2.3.2. Competitive Scenario
8.2.3.3. Canada RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3. Europe
8.3.1. Europe RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.2. UK
8.3.2.1. Key Country Dynamics
8.3.2.2. Competitive Scenario
8.3.2.3. U.K. RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.3. Germany
8.3.3.1. Key Country Dynamics
8.3.3.2. Competitive Scenario
8.3.3.3. Germany RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.4. France
8.3.4.1. Key Country Dynamics
8.3.4.2. Competitive Scenario
8.3.4.3. France RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.5. Italy
8.3.5.1. Key Country Dynamics
8.3.5.2. Competitive Scenario
8.3.5.3. Italy RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.6. Spain
8.3.6.1. Key Country Dynamics
8.3.6.2. Competitive Scenario
8.3.6.3. Spain RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.7. Denmark
8.3.7.1. Key Country Dynamics
8.3.7.2. Competitive Scenario
8.3.7.3. Denmark RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.8. Sweden
8.3.8.1. Key Country Dynamics
8.3.8.2. Competitive Scenario
8.3.8.3. Sweden RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.9. Norway
8.3.9.1. Key Country Dynamics
8.3.9.2. Competitive Scenario
8.3.9.3. Norway RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4. Asia Pacific
8.4.1. Asia Pacific RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.2. Japan
8.4.2.1. Key Country Dynamics
8.4.2.2. Competitive Scenario
8.4.2.3. Japan RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.3. China
8.4.3.1. Key Country Dynamics
8.4.3.2. Competitive Scenario
8.4.3.3. China RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.4. India
8.4.4.1. Key Country Dynamics
8.4.4.2. Competitive Scenario
8.4.4.3. India RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.5. Australia
8.4.5.1. Key Country Dynamics
8.4.5.2. Competitive Scenario
8.4.5.3. Australia RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.6. Thailand
8.4.6.1. Key Country Dynamics
8.4.6.2. Competitive Scenario
8.4.6.3. Thailand RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.7. South Korea
8.4.7.1. Key Country Dynamics
8.4.7.2. Competitive Scenario
8.4.7.3. South Korea RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5. Latin America
8.5.1. Latin America RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5.2. Brazil
8.5.2.1. Key Country Dynamics
8.5.2.2. Competitive Scenario
8.5.2.3. Brazil RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5.3. Mexico
8.5.3.1. Key Country Dynamics
8.5.3.2. Competitive Scenario
8.5.3.3. Mexico RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5.4. Argentina
8.5.4.1. Key Country Dynamics
8.5.4.2. Competitive Scenario
8.5.4.3. Argentina RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6. Middle East & Africa
8.6.1. Middle East & Africa RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6.2. South Africa
8.6.2.1. Key Country Dynamics
8.6.2.2. Competitive Scenario
8.6.2.3. South Africa RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6.3. Saudi Arabia
8.6.3.1. Key Country Dynamics
8.6.3.2. Competitive Scenario
8.6.3.3. Saudi Arabia RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6.4. UAE
8.6.4.1. Key Country Dynamics
8.6.4.2. Competitive Scenario
8.6.4.3. UAE RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6.5. Kuwait
8.6.5.1. Key Country Dynamics
8.6.5.2. Competitive Scenario
8.6.5.3. Kuwait RTLS in Healthcare Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
9.1. Company Profiles
9.1.1. Securitas Healthcare, LLC
9.1.1.1. Overview
9.1.1.2. Financial Performance
9.1.1.3. Product Benchmarking
9.1.1.4. Strategic Initiatives
9.1.2. Zebra Technologies Corporation
9.1.2.1. Overview
9.1.2.2. Financial Performance
9.1.2.3. Product Benchmarking
9.1.2.4. Strategic Initiatives
9.1.3. Aruba Networks
9.1.3.1. Overview
9.1.3.2. Financial Performance
9.1.3.3. Product Benchmarking
9.1.3.4. Strategic Initiatives
9.1.4. Impinj, Inc.
9.1.4.1. Overview
9.1.4.2. Financial Performance
9.1.4.3. Product Benchmarking
9.1.4.4. Strategic Initiatives
9.1.5. Savi Technology
9.1.5.1. Overview
9.1.5.2. Financial Performance
9.1.5.3. Product Benchmarking
9.1.5.4. Strategic Initiatives
9.1.6. TeleTracking Technologies, Inc.
9.1.6.1. Overview
9.1.6.2. Financial Performance
9.1.6.3. Product Benchmarking
9.1.6.4. Strategic Initiatives
9.1.7. CenTrak, Inc.
9.1.7.1. Overview
9.1.7.2. Financial Performance
9.1.7.3. Product Benchmarking
9.1.7.4. Strategic Initiatives
9.1.8. Advantech Co., Ltd
9.1.8.1. Overview
9.1.8.2. Financial Performance
9.1.8.3. Product Benchmarking
9.1.8.4. Strategic Initiatives
9.1.9. GE HealthCare Technologies Inc.
9.1.9.1. Overview
9.1.9.2. Financial Performance
9.1.9.3. Product Benchmarking
9.1.9.4. Strategic Initiatives
9.1.10. Ubisense Ltd.
9.1.10.1. Overview
9.1.10.2. Financial Performance
9.1.10.3. Product Benchmarking
9.1.10.4. Strategic Initiatives
9.1.11. Cerner Corporation
9.1.11.1. Overview
9.1.11.2. Financial Performance
9.1.11.3. Product Benchmarking
9.1.11.4. Strategic Initiatives
9.1.12. AiRISTA Flow, Inc.
9.1.12.1. Overview
9.1.12.2. Financial Performance
9.1.12.3. Product Benchmarking
9.1.12.4. Strategic Initiatives
9.1.13. Sonitor Technologies
9.1.13.1. Overview
9.1.13.2. Financial Performance
9.1.13.3. Product Benchmarking
9.1.13.4. Strategic Initiatives
9.1.14. Midmark Corporation
9.1.14.1. Overview
9.1.14.2. Financial Performance
9.1.14.3. Product Benchmarking
9.1.14.4. Strategic Initiatives
9.2. Company Categorization
9.3. Company Market Position Analysis
9.4. Strategy Mapping
Chapter 10. Recommendations/Key Market Insights