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Wireless Healthcare Asset Management Market

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<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong>: Indepth<br />

market segmentation by 2026<br />

December 2016<br />

Report Id : REP-GB-2298<br />

Status : Ongoing<br />

Category : Electronics, Semiconductors, and ICT<br />

©2015 Future <strong>Market</strong> Insights, All Rights Reserved


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Research Methodology (1/2)<br />

Systematic Research Approach<br />

<strong>Market</strong> profiling<br />

Formulating discussion guide<br />

Developing list of respondents<br />

Data collection<br />

Data validation<br />

4<br />

5<br />

3<br />

1<br />

2<br />

In-depth secondary research is used to<br />

ascertain overall market size, top<br />

industry players, top products, industry<br />

associations, etc.<br />

PMR formulates a detailed discussion<br />

guide to conduct expert and industry<br />

interviews<br />

PMR develops a list of industry players<br />

(manufacturers), distributors, retailers<br />

and industry experts<br />

PMR conducts interviews with industry<br />

experts, industry players, distributors<br />

and retailers<br />

Data is validated by triangulation<br />

method, wherein secondary, primary<br />

and PMR analysis contribute to the final<br />

data<br />

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Data<br />

Collection<br />

Data Filter<br />

& Analysis<br />

Identifying key opinion leaders<br />

Questionnaire design<br />

In-depth interviews<br />

Coverage across value chain<br />

<strong>Market</strong> participants<br />

Key strengths<br />

Product portfolio<br />

Mapping as per value chain<br />

Key focus segments<br />

A<br />

Primary<br />

Research<br />

C<br />

Company<br />

Analysis<br />

Research &<br />

Intelligence<br />

SOLUTION<br />

Actionable<br />

Insights<br />

B<br />

Desk<br />

Research<br />

<br />

<br />

<br />

<br />

<br />

<br />

Business<br />

Solution<br />

Key industry experts<br />

Channel study<br />

Developments<br />

<strong>Market</strong> dynamics<br />

Products<br />

Conclusions<br />

Data analysis<br />

6<br />

Data is scrutinized using MS-Excel to<br />

obtain qualitative and quantitative<br />

insights about the industry<br />

Primary Research #<br />

Secondary Research #<br />

Paid Publications#<br />

Insights<br />

7<br />

PMR delivers industry insights and<br />

information in the required format<br />

(PDF)<br />

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Linkedin<br />

Zoominfo<br />

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Avention<br />

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Company websites<br />

Company annual<br />

reports<br />

White papers<br />

Financial reports<br />

<br />

<br />

<br />

<br />

Factiva<br />

GBI<br />

Genios<br />

Meltwater<br />

# includes sources of databases<br />

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<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong><br />

<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong> Overview<br />

We all own multiple gadgets like smartphones, tablet computers, desktops and laptops which have<br />

increased our dependence on wires to charge these electronic devices. Wouldn’t we all like a wire-free,<br />

tangle-free existence? The immense desire to go wireless has also begun to impact the medical<br />

profession in the form of the <strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong>. Medical institutions must<br />

constantly monitor their equipment, tools, patients or even the professionals working there. A great<br />

many of them have opted to go in for the wireless route for the comfort and convenience provided by it.<br />

Hospitals have to manage a number of costly systems, tools & equipment which requires a significant<br />

investment of time. Loss, theft or misplacement of any of these healthcare assets would be a massive<br />

financial loss to the organisation. The <strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong> provides a realtime<br />

solution for medical institutes to keep track of not only physical assets but also the patients &<br />

medical professionals. Going wireless provides flexibility, portability and scalability to the system. It<br />

ensures that assets & their various categories are easily searchable by indicating both room location &<br />

availability, sterilisation status, and also whether it is free or currently in use.<br />

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<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong> Drivers<br />

There are several factors responsible for the long-term growth of the wireless healthcare asset<br />

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<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong><br />

management market. One is improving wireless technology. Initially, there were concerns amongst<br />

medical professionals that wireless systems would interfere with hospital systems like telemetry which is<br />

crucial for measuring a patient’s vital signs. These problems have been largely taken care of by newer<br />

systems which use different wireless frequencies. Another driver is the reduced fears among the public &<br />

the industry as a whole about wireless technologies. Great research has been undertaken in this field<br />

which has made all radio frequencies used in wireless healthcare asset management equipment quite<br />

safe. Agencies like the FCC, FDA, EPA and OSHA have also certified the technologies reassuring patients. A<br />

third factor is the patient comfort & convenience. Medical institutions have begun to provide a number<br />

of added facilities & those hospitals which do not might lose their patients to those who do. It is not only<br />

patients but also medical staff who are becoming increasingly dependent on wireless technology. Doctors<br />

& nurses can use hands-free VoFi to stay in continuous contact with the other staff or the main nursing<br />

station. Nurses can enter information about their patients while moving around the hospital on a tablet<br />

computer. Doctors could even use their mobile phones to access the office servers or various medical<br />

applications. All of this is anticipated to drive the wireless healthcare asset management market globally.<br />

<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong> Restraints<br />

There are still some challenges which must be overcome in the wireless healthcare asset management<br />

market. A major one is a high cost involved in installing wireless management systems. While<br />

organisations want to provide all the services that they can to their patients, they may not have the<br />

required funding or government support to do so. <strong>Wireless</strong> systems are usually the first to be sacrificed in<br />

cost-cutting. Another issue is designating responsibility for such equipment. All too often, the<br />

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<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong><br />

departments that oversee wireless systems like IT or Biometrics are overloaded and are unable or<br />

unwilling to take on additional managerial responsibility. This is especially true when the equipment takes<br />

up a lot of space. Lastly, there is a lack of knowledge & expertise concerning such wireless healthcare<br />

asset management systems. Medical institutions face difficulty in hiring quality personnel able to<br />

understand & exploit this technology to the fullest. These problems must be dealt with for the long term<br />

prospects of the wireless healthcare asset management market.<br />

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<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong> Key Regions<br />

The U.S is both the largest wireless healthcare asset management market and its fastest growing because<br />

of a large number of American RFID and RTLS providers and strong healthcare in the country. Asia-Pacific<br />

will become a crucial future market because of rising awareness & greater public & private healthcare<br />

investments.<br />

<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong> Key <strong>Market</strong> Players<br />

Some companies competing in the wireless healthcare asset management market are AeroScout, Inc, GE<br />

<strong>Healthcare</strong>, Ekahau, Inc, IBM Corporation and Siemens <strong>Healthcare</strong>.<br />

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<strong>Wireless</strong> <strong>Healthcare</strong> <strong>Asset</strong> <strong>Management</strong> <strong>Market</strong><br />

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