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Surgical Instruments Tracking Systems Market Size, Share & Trends Analysis Report by Product (Hardware, Software, Services), by Technology (Barcodes, RFID), by End Use, by Region, and Segment Forecasts, 2022-2030

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  • 150 Pages
  • April 2022
  • Region: Global
  • Grand View Research
  • ID: 4118805
The global surgical instruments tracking systems market size is anticipated to reach USD 513.09 million by 2030. The market is expected to grow at a CAGR of 12.1% over the forecast period. The increasing need for inventory management and implementation of Unique Device Identification (UDI) regulations formed by the FDA are some of the major factors supporting the market growth. Furthermore, surgical tool manufacturers are expected to track their products from manufacturing to distribution. The goal of device tracking is to ensure that instrument manufacturers set up mechanisms that allow them to quickly locate devices in commercial distribution. The proposed UDI regulations by the U.S. Food & Drug Administration (FDA) are projected to propel market growth.

Labelers of surgical instruments, such as manufacturers, re-processors, specification developers, re-packagers, and re-labelers, are required by UDI guidelines to use direct marking at the individual instrument level. The U.S. regulations required surgical tools to be marked with a UDI (Unique Device Identifier) by 2021. Most surgical instruments are identified under class I devices by the U.S. FDA. As per the FDA’s June 2021 guidelines, the agency postponed the compliance date for UDI labeling, Direct Mark, GUDID Data Submission, and Standard Date Format to September 2022. Surgical instrument tracking systems also enable better monitoring by competent authorities while reducing medical errors, thus propelling the demand. The usability of such solutions in inventory management and during the work cycle including surgeries, storage, sterilization procedures, and post-surgery are other factors contributing to market growth.

A large number of operating rooms and other departments in hospitals collectively require more than 1,000 instruments each day. This has led to a huge need for surgical instrument inventory management, which facilitates assembling and checking the set of tools while saving manpower and time. This is expected to fuel the market growth. Although the number of elective surgeries plunged during the COVID-19 pandemic, the volume is expected to return to pre-COVID numbers, which, in turn, is estimated to drive the market. Also, the pandemic has a neutral effect on the underlying need for surgical instrument tracking systems and highlights the need for such solutions to track and control infections at hospitals and safeguard patient health.

Surgical Instruments Tracking Systems Market Report Highlights

  • Barcode technology was the largest revenue-generating segment in 2021 owing to its several advantages, such as ease of handling and low installation cost.
  • The RFID segment is projected to expand at the fastest CAGR during the forecast period due to the growing demand from end users for technologically advanced instrument traceability and inventory solutions.
  • In 2021, the hardware segment held the largest revenue share while software followed close behind.
  • The hardware segment is also expected to register the fastest CAGR over the forecast period.
  • Hospitals held the largest market share of the end-use segment in 2021 owing to the increasing adoption of these devices for inventory management and their ability to facilitate better patient safety.
  • North America led the market in 2021 and is expected to continue its dominance during the forecast period.
  • Highly developed healthcare infrastructure and availability of advanced products are projected to drive the regional market.
  • Asia Pacific is anticipated to grow at a significant CAGR over the forecast years.

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Table of Contents

Chapter 1. Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Product
1.1.2 Technology
1.1.3 End-Use
1.1.4 Regional Scope
1.1.5 Estimates and Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.3.5 Details Of Primary Research Data for primary interviews in North America Data for Primary Interviews in Europe Data for Primary Interviews in Asia Pacific Data for Primary Interviews in Latin America Data for Primary Interviews in MEA
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis (Model 1) Approach 1: Commodity Flow Approach
1.6.2 Volume Price Analysis (Model 2) Approach 2: Volume Price Analysis
1.6.3 Tam Appraoch (Model 3)
1.7 List of Secondary Sources
1.8 List of Primary Sources
1.9 List of Abbreviations
1.10 Objectives
1.10.1 Objective 1
1.10.2 Objective 2
Chapter 2. Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
Chapter 3. Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Related/Ancillary Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.2.4 User Perspective Analysis Consumer Behavior Analysis Market Influencer Analysis
3.2.5 Cost Breakdown
3.3 Technology Overview
3.3.1 Technology Timeline
3.4 Regulatory Framework
3.4.1 Regulatory Landscape
3.4.2 Standards & Compliances
3.5 Market Dynamics
3.5.1 Market Driver Analysis Increasing incidence of retained surgical instrument cases Escalating need for surgical instrument inventory management Technological advancement
3.5.2 Market Restraint Analysis High cost associated with the implementation of surgical instrument tracking system
3.5.3 Industry Challenges Slower regulatory approval process
3.6 Surgical Instruments Tracking Systems Market Analysis Tools
3.6.1 Industry Analysis-Porter’s Supplier Power (Moderate; a large number of SMALL-SCALE suppliers) Buyer Power (High; high adoption of advanced technology) Substitution Threat (LOW; frequent new product launches) Threat from new entrant (HIGH; Supportive government Regulations) Competitive rivalry (High; Fragmented market)
3.6.2 Pestel Analysis
3.7 Major Deals & Strategic Alliances Analysis
3.7.1 Mergers & Acquisitions
3.7.2 Product Launch
3.7.3 Regional Expansion
3.7.4 Partnership & Collaborations
3.7.5 Market Entry Strategies
3.7.6 Case Studies
Chapter 4. Surgical Instruments Tracking Systems Market: Covid-19 Impact Analysis
4.1 Disease Prevalence Analysis
4.2 Current and Future Impact Analysis
4.3 Impact on Market Players
Chapter 5. Surgical Instruments Tracking Systems Market: Competitive Analysis
5.1 Recent Developments & Impact Analysis, by Key Market Participants
5.2 Vendor Landscape
5.2.1 List Of Key Distributors and Channel Partners
5.2.2 Key Customers
5.3 Estimated Company Market Share Analysis, 2020
5.4 Public Companies
5.4.1 Company Market Position Analysis
5.4.2 Company Ranking, by Region
5.4.3 Competitive Dashboard Analysis Market Differentiators
5.5 Private Companies
5.5.1 List Of Companies’ /Technology Disruptors/Innovators
5.5.2 Funding Outlook
5.5.3 Regional Network Map
5.5.4 Company Market Position Analysis
5.5.5 Supplier Ranking
Chapter 6. Surgical Instruments Tracking Systems Market: Product Estimates and Trend Analysis
6.1 Product Outlook
6.2 Product Market Share Analysis, 2021 & 2030
6.3 Segment Dashboard
6.4 Global Surgical Instruments Tracking Systems Market, by Product, 2017-2030 (USD Million)
6.5 Market Size & Forecasts and Trend Analyses, 2017 to 2030, by Product
6.5.1 Hardware Systems Hardware Systems Market Size & Forecasts and Trend Analyses, 2017 to 2030 (USD Million)
6.5.2 Software Systems Software Systems Market Size & Forecasts and Trend Analyses, 2017 to 2030 (USD Million)
6.5.3 Services Services Market Size & Forecasts and Trend Analyses, 2017 to 2030 (USD Million)
Chapter 7. Surgical Instruments Tracking Systems Market: Technology Estimates and Trend Analysis
7.1 Technology Outlook
7.2 Technology Market Share Analysis, 2021 & 2030
7.3 Segment Dashboard
7.4 Global Surgical Instruments Tracking Systems Market, by Technology, 2017-2030 (USD Million)
7.5 Market Size & Forecasts and Trend Analyses, 2017 to 2030, by Technology
7.5.1 Barcodes Barcodes Market Size & Forecasts and Trend Analyses, 2017 to 2030 (USD Million)
7.5.2 Radio Frequency Identification (RFID) RFID Market Size & Forecasts and Trend Analyses, 2017 to 2030 (USD Million)
Chapter 8. Surgical Instruments Tracking Systems Market: End-use Estimates and Trend Analysis
8.1 End-use Outlook
8.2 End-use Market Share Analysis, 2021 & 2030
8.3 Segment Dashboard
8.4 Global Surgical Instruments Tracking Systems Market, by End-use, 2017-2030 (USD Million)
8.5 Market Size & Forecasts and Trend Analyses, 2017 to 2030, by End-use
8.5.1 Hospitals Hospitals Market Size & Forecasts and Trend Analyses, 2017 to 2030 (USD Million)
8.5.2 Others Others Market Size & Forecasts and Trend Analyses, 2017 to 2030 (USD Million)
Chapter 9. Surgical Instrument Tracking Systems Market Regional Estimates & Trend Analysis
9.1 Regional Market Snapshot
9.2 Regional Market Share Analysis, 2021 & 2030
9.3 Regional Market Share by Country
9.3.1 North America
9.3.2 Europe
9.3.3 Asia Pacific
9.3.4 Latin America
9.3.5 MEA
9.4 Market Size, & Forecasts and Trend Analysis, 2017 to 2030
9.5 North America
9.5.1 U.S.
9.5.2 Canada
9.6 Europe
9.6.1 U.K.
9.6.2 Germany
9.6.3 France
9.6.4 Italy
9.6.5 Spain
9.6.6 Russia
9.7 Asia Pacific
9.7.1 Japan
9.7.2 China
9.7.3 India
9.7.4 South Korea
9.7.5 Singapore
9.7.6 Australia
9.8 Latin America
9.8.1 Brazil
9.8.2 Mexico
9.8.3 Argentina
9.9 MEA
9.9.1 South Africa
9.9.2 Saudi Arabia
9.9.3 UAE
Chapter 10. Company Profiles
10.1 Censis Technologies, Inc
10.1.1 Company Overview
10.1.2 Product Benchmarking
10.1.3 Strategic Initiatives
10.2 Xerafy
10.2.1 Company Overview
10.2.2 Product Benchmarking
10.2.3 Strategic Initiatives
10.3 Getinge AB
10.3.1 Company Overview
10.3.2 Financial Performance
10.3.3 Product Benchmarking
10.3.4 Strategic Initiatives
10.4 Haldor Advanced Technologies
10.4.1 Company Overview
10.4.2 Product Benchmarking
10.4.3 Strategic Initiatives
10.5 Microsystem, Inc.
10.5.1 Company Overview
10.5.2 Product Benchmarking
10.5.3 Strategic Initiatives
10.6 B. Braun Melsungen AG
10.6.1 Company Overview
10.6.2 Financial Performance
10.6.3 Product Benchmarking
10.6.4 Strategic Initiatives
10.7 BD
10.7.1 Company Overview
10.7.2 Financial Performance
10.7.3 Product Benchmarking
10.7.4 Strategic Initiatives
10.8 Ternio Group LLC
10.8.1 Company Overview
10.8.2 Product Benchmarking
10.8.3 Strategic Initiatives
10.9 FingerPrint Medical Ltd.
10.9.1 Company Overview
10.9.2 Product Benchmarking
10.9.3 Strategic Initiatives
10.10 SpaTrack Medical Limited
10.10.1 Company Overview
10.10.2 Product Benchmarking
10.10.3 Strategic Initiatives

Companies Mentioned

  • Censis Technologies, Inc
  • Xerafy
  • Getinge AB
  • Haldor Advanced Technologies
  • Microsystem, Inc.
  • B. Braun Melsungen Ag
  • BD
  • Ternio Group LLC
  • FingerPrint Medical Ltd.
  • SpaTrack Medical Limited



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