The latest report on RTLS in the healthcare market, 2022-2027 estimates to register an incremental growth of USD 3,273.72 million at a CAGR of 23.28% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The need for improved patient safety drives the RTLS market growth in healthcare. The market growth can be attributed to its capability to enable real-time patient tracking and thus improve patient safety. RTLS lowers the possibility of errors by delivering precise and current information on the whereabouts of patients inside a healthcare facility. Hence, such factors drive the market growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report
RTLS in Healthcare Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The RTLS in the healthcare market report covers the following areas:
- RTLS in Healthcare Market 2023-2027 Size
- RTLS in Healthcare Market 2023-2027 Trends
- RTLS in Healthcare Market 2023-2027 Industry Analysis
RTLS in healthcare market 2023-2027: Company Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Advantech Co. Ltd., AiRISTA Flow Inc., America Movil SAB de CV, ASSA ABLOY AB, Baxter International Inc., Borda Technology, GE Healthcare Technologies Inc., Halma Plc, Hewlett Packard Enterprise Co., INTELLIGENT LOCATIONS, Litum Technologies Inc., MYSPHERA, Purelink, SGS SA, Siemens AG, Sonitor Technologies AS, Stanley Black and Decker Inc., TeleTracking Technologies Inc., Ubisense Ltd., and Zebra Technologies Corp. are among some of the major market participants.
Company Offerings
- Advantech Co. Ltd. – The company offers RTLS in healthcare called Real Time Location System tag.
- AiRISTA Flow Inc. – The company offers RTLS in healthcare called the AiRISTA RTLS solution.
- America Movil SAB de CV – The company offers RTLS in healthcare called Real Time Location System Plus RTLS Patient Monitoring under its subsidiary called Claro.
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RTLS in Healthcare Market 2023-2027: Market Dynamics
Major Trends
The integration with electronic health records (EHR) is an emerging RTLS in the healthcare market trend. To utilize the capabilities of RTLS to share data with EHR platforms easily, besides improving patient care coordination and workflow effectiveness, integration with electronic health records (EHR) is carried out. Furthermore, it helps medical professionals to gain real-time visibility into the patient’s condition and be able to make more precise and timely treatment decisions by integrating RTLS data. The data includes patient location and mobility, with EHR systems. Hence, such trends fuel the growth of the RTLS in healthcare market during the forecast period.
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RTLS in Healthcare Market 2023-2027: Segmentation
RTLS in Healthcare Market is segmented as below:
- Technology
- RFID
- WiFi
- UWB
- BLE
- Others
- Component
- Hardware
- Software
- Services
- Geography
- North America
- Europe
- Asia
- Rest Of World (ROW)
The RFID segment is significant growth during the forecast period. The growth of this segment is attributed to its several benefits such as non-line-of-sight tracking, long-range capabilities, and affordability. For instance, to track medical equipment, the University of California San Francisco Medical Center developed an RFID-based RTLS solution, which enables effective inventory management and reduces equipment search time. Hence, such factors boost the RFID segment of the RTLS in the healthcare market during the forecast period.
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RTLS in Healthcare Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist RTLS in healthcare market growth during the next five years
- Estimation of the RTLS in healthcare market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the RTLS in healthcare market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of RTLS in healthcare market, vendors
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| RTLS In Healthcare Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 23.28% |
| Market growth 2023-2027 | USD 3,273.72 million |
| Market structure | Fragmented |
| YoY growth 2022-2023(%) | 22.79 |
| Regional analysis | North America, Europe, Asia, and Rest of World (ROW) |
| Performing market contribution | North America at 28% |
| Key countries | US, Canada, China, Japan, and UK |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Advantech Co. Ltd., AiRISTA Flow Inc., America Movil SAB de CV, ASSA ABLOY AB, Baxter International Inc., Borda Technology, GE Healthcare Technologies Inc., Halma Plc, Hewlett Packard Enterprise Co., INTELLIGENT LOCATIONS, Litum Technologies Inc., MYSPHERA, Purelink, SGS SA, Siemens AG, Sonitor Technologies AS, Stanley Black and Decker Inc., TeleTracking Technologies Inc., Ubisense Ltd., and Zebra Technologies Corp. |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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