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The European Healthcare Asset Management Systems Market
Frost & Sullivan, Sep 2009, Pages: 125
This research examines the healthcare asset management systems market in Europe in terms of the challenges faced by market participants, drivers and restraints in the industry, the competitive structure in the major markets, the revenue forecasts and growth rates and strategic recommendations.
This Frost & Sullivan research service titled The European Healthcare Asset Management Systems Market provides the total revenue forecasts for seven regions – the United Kingdom, Germany, France, Spain, Italy, Benelux and Scandinavia. They are analysed in terms of revenue contributed by Wi-Fi-based asset management systems and RFID-based asset management systems.
Market Overview
Prospect of Enhanced Operational Efficiency to Fuel Popularity of Healthcare Asset Management Systems in Europe
Hospitals have started realising the importance of improving their operational efficiency and care performance through the real-time tracking of assets. There is a tremendous change occurring in the healthcare delivery system across Europe. The amount of valuable equipment is rising, with the increasing digitisation of hospitals, underlining the importance of keeping track of all these assets. While transforming various areas of business today, asset management systems are yet to be fully explored by European hospitals. Promoting uptake requires addressing challenges such as a poor, basic-level automation and technical barriers regarding ease of use.
“The healthcare asset management systems market in Europe will witness a positive growth rate as the market is relatively untapped,” notes the analyst of this research. “The increasing involvement of contracted service providers, technological developments and the merging of active and passive technologies paralleled by a greater number of hospitals adopting asset management at the departmental level will support the strong foray of healthcare asset management into the global healthcare scenario.” The need for mobility among health professionals is escalating. This is also boosting the number of mobile assets within hospitals. However, the number of hospitals that actively track these assets in Europe is still relatively low. Contracted service providers and the benefits of both active and passive technology are increasing the appeal of healthcare asset management. As hospitals realise the need to keep track of the assets that are purchased and replaced, the demand for these systems will rise. “The drive for healthcare mobility and the need to provide value for tax payers’ money will boost the prospects of the European healthcare asset management systems market,” remarks the analyst. “Market expansion will also be supported by the need to improve the efficiency and quality of care while reducing costs.”
Demonstrating Quantifiable Benefits of Healthcare Asset Management Systems Critical to Encouraging Uptake
Challenges related to quantifying the return on investments delivered by asset management systems persist since there is no quantifiable data to support their benefits. Due to tight financial budgets for healthcare IT in Europe, hospitals are unable to adopt fast-changing technologies. Therefore, one of the major challenges faced by asset management vendors in Europe is convincing cash-strapped hospital authorities to adopt asset management systems. In many cases, healthcare organisations are unaware of the benefits of such systems.
To scientifically document the financial and resource benefits of healthcare asset management systems, more research has to be undertaken. Companies should concentrate on providing a complete solution and not just offer a part of a solution. “Providing evidence-based, cost-effective complete healthcare asset management systems that can be easily integrated with existing systems is vital to overcoming the reluctance of health professionals to adopt such systems,” advises the analyst.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Geographic Region:
- United Kingdom
- Germany
- France
- Spain
- Italy
- Benelux
- Scandinavia
- Technologies
The following technologies are covered in this research:
- Wi-Fi-based asset management systems
- RFID-based asset management systems
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