Surgical Instrument Tracking System Market Insights on Emerging Scope ProphesyPosted by Ganesh Shinde on December 26th, 2022 According to Future Market Insights (FMI) in a recent market analysis, the Surgical Instrument Tracking System Market is expected to grow at a healthy rate of more than 15% between 2022 and 2032. Tracking systems are becoming more popular among healthcare providers as a means of reducing costs and increasing productivity. The proposed UDI (Unique Device Identification) requirements of the US FDA (Food and Drug Administration) are expected to stimulate growth in the surgical instrument tracking systems market. Labellers (manufacturers, processors, specification formulators, re-packagers, and re-labelers) of surgical instruments are expected to apply immediate marking at the individual instrument level, according to the UDI rules. High system costs, long investment cycles, affordable restraints, and technological boundaries are expected to limit market growth. In addition, the COVID-19 pandemic caused a slight drop in growth in the first quarter of 2021. With elective and non-elective surgeries being postponed, delayed, or abandoned around the world, there has been a noticeable drop in the use of surgical instrument tracking systems and consumables. Surgical instrument tracking systems also result in increased monitoring by responsible parties, as well as a reduction in medical errors, resulting in increased demand. Other major market drivers include the usability of such solutions in inventory management and during the work cycle, which includes surgeries, storage, sterilisation protocols, and post-surgery care. As a result, total market sales will reach 0 million by the end of 2032. Emerging economies such as India and China, as well as countries in the Middle East, Latin America, and Southeast Asia, are expected to provide significant growth opportunities for manufacturers of surgical instrument tracking systems. Rising healthcare costs and improving healthcare infrastructure are likely to provide growth opportunities for market players in all of these economies. The surgical instrument tracking systems market will prosper significantly as a result of this. Key Takeaways
Diversification of Portfolio to Be the Key to Market Dominance Some of the major participants in the surgical tool tracking systems market include Fortive Corporation (US), Material Management Microsystems (US), Becton, Dickinson and Company (BD) (US), Haldor Advanced Technologies (US), Getinge AB (Sweden), and STERIS (US), STANLEY Healthcare (US), Surgical Safety Scanner (US) and many others. To get a stronger foothold in the surgical instruments tracking system market, leading companies are focusing on surgical instrument management, and employing innovative marketing strategies, technological advancements, mergers, and acquisitions.
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