The North America RTLS In Healthcare Market would witness market growth of 17.4% CAGR during the forecast period (2023-2030).
The healthcare industry has always been at the forefront of adopting cutting-edge technologies to enhance patient care, streamline operations, and improve overall efficiency. Among the myriad technological advancements that have significantly impacted healthcare, real-time location systems (RTLS) have emerged as a transformative force. The unique features of RTLS, a technology created for logistical and military purposes, transform how hospitals and other healthcare institutions function in the healthcare industry.
Additionally, RTLS technology leverages hardware, such as tags, sensors, and software, to provide real-time visibility and tracking of assets, individuals, and equipment within a defined space. In the healthcare sector, the applications of RTLS are diverse and far-reaching, significantly improving patient care, asset management, and the overall operational efficiency of healthcare facilities. One of the primary applications of RTLS in healthcare is asset tracking. Hospitals and clinics often deal with a vast array of equipment, from wheelchairs to medical devices. RTLS allows real-time monitoring of these assets, enabling healthcare providers to locate essential items precisely when needed. This leads to a reduction in equipment loss, improved utilization, and streamlined workflows, which, in turn, enhances patient care.
In accordance with the Centers for Medicare & Medicaid Services of the Government of the United States, spending on healthcare in the United States increased by 2.7 percent in 2021 to $4.3 trillion, or $12,914 per person. Spending on healthcare accounted for 18.3 percent of the country's GDP. Moreover, Canada's population is growing, and it is also aging. The aging demographic places a higher demand on healthcare services, including hospitals, long-term care facilities, and specialized treatment centers. Thus, rising healthcare sector investment in North America is expected to boost the expansion of the market in the region.
The US market dominated the North America RTLS In Healthcare Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,050.5 million by 2030. The Canada market is experiencing a CAGR of 20.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 19% during (2023 - 2030).
Based on Facility Type, the market is segmented Hospitals & Healthcare Facilities, and Senior Living Facilities. Based on Component, the market is segmented into Hardware, Software, and Services. Based on Technology, the market is segmented into RFID, Wi-Fi, UWB, BLE, and Others. Based on Application, the market is segmented into Inventory/Asset Tracking & Management, Personnel Locating & Monitoring, Access Control & Security, Environmental Monitoring, Supply Chain Management & Automation, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The RTLS In Healthcare Market is Predict to reach $7.2 Billion by 2030, at a CAGR of 18.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Securitas Healthcare, LLC, Zebra Technologies Corporation, Aruba Networks, Impinj, Inc., Savi Technology, Inc., Advantech Co., Ltd., Cerner Corporation, TeleTracking Technologies, Inc., CenTrak, Inc. and Ubisense Ltd.
By Facility Type
By Component
By Technology
By Application
By Country
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