Hospital Asset Management Market 2018 Report Introduces Potential Growth Opportunities, New Project SWOT Analysis, and Investment Feasibility and Return Analysis

Radiant Insights, Inc.

SAN FRANCISCO, August 13, 2018 /PRNewswire/ --

The global Hospital Asset Management Market is subject to witness a substantial growth over the forecast period due to the rise in occurrence of drug counterfeiting and supply chain management. Factors such as lower hardware & software cost, easy availability, and faster operational speeds are some of the critical drivers for the growth of hospital asset management market during the forecast period. Recent technological advancement in healthcare sector such as near field communication systems has led to development of the innovative managing assets offering cost effective and efficient solutions. These factors are expected to fuel market growth over the forecast period. In addition, growing implementation of efficient supply chain network in pharmaceutical & hospital sector, increasing concerns regarding security for healthcare and clinical organization, and numerous benefits offered by managing assets like higher return on investment and cost savings solution are anticipated to propel the growth of hospital asset management market in the near future. Growing investment by various private organizations and governmental agencies in research & development of radio frequency identification (RFID) technology and development of innovative products in compliance with strict laws and regulation enforced by local governments as well as international health organizations such as World Health Organization (WHO) are predicted to drive market growth in the upcoming years.

Development of advanced hospital assets helps to improve overall quality of supply chain network, thus further strengthening the market position. Additionally, implementation of stringent laws and regulation by local authorities such as FDA allows an efficient and safe asset management for number of diagnostic and health monitoring equipment and eliminates the risk of drug counterfeiting which in turn positively affects the market growth in the recent years. The hospital asset management market is broadly categorized into four types based on applications such as humidity control management, staff management, patient management, and temperature & equipment management. Some of the common application of the hospital asset management in pharmaceutical vertical includes supply chain operations and drug counterfeiting operations. Growing number of highly complex instruments is driving the need for highly sophisticated and efficient asset management solutions. Introduction of radio-frequency identification (RFID) technology offers a highly specialized solution in the hospital assets management in pharmaceutical sector, thus driving market growth over the forecast period.