Rising Concerns of Drug Counterfeiting
WHO estimates that the counterfeit medicines could constitute to about 10% of the entire volume of drugs, globally, and the revenue generated from these counterfeit medicines could be close to USD 75 billion globally. This percentage share of counterfeit drugs proves the issue of counterfeiting in the drug industry, however, fails to highlight the serious threats these drugs pose in some geographical regions, such as Asia-Pacific and African. Some studies suggest that the counterfeit drugs share could be even more than 30%, in developing countries of Africa, parts of Asia and Latin America. A report from the United States Trade Representative (USTR) further clarifies the menace, and estimates that 90% of all counterfeit pharmaceuticals seized at the United States border in fiscal year 2016 were shipped from China, Hong Kong, India and Singapore. Along with the Increasing incidents of drug counterfeiting, need of maximizing the efficiency and reliability of available resources in hospitals to make healthcare accessible to all, and patient- centric and value-based trend in healthcare industry are the major drivers of this market.
Healthcare Institutions Affecting Implementation
Majority of large hospitals were built much before the real time location systems (RTLS) or radio frequency identification systems (RFID) came into existence. Hospitals are often combination of buildings, built at different time periods and composed of different materials. Different materials in structure in the same hospital can present problems for accurately triangulating tags, in case of weak signal strength. Rooms shielded with lead pose challenge for RTLS systems, for operating within that specific location as well as in contiguous hallways and rooms. In these cases, RTLS can’t be implemented. Due to these reasons, the availability of skilled professionals that could efficiently use molecular markers in the research is restricted. For example, RTLS cannot distinguish between the wheelchairs that take patients upon discharge and the wheelchairs that fall prey to theft. So the factors like healthcare facilities are restraining the growth of the market along with the other factors such as the issues related to accuracy of these devices and data Integrity and safety is also a limiting the growth of the market.
North America to Dominate the Market Growth
North America accounted for the largest market, accounting for around 40% of the global market share. In North America, due to the availability of robust health care infrastructure in this region has propelled the demand for hospital asset management solutions. Along with the North America region, Europe is also the leading region in the global hospital asset management market. Asia-Pacific is fastest growing region for healthcare asset management and portrays huge potential for growth in the future due to increasing government initiatives, corporate investment to standardize biopharmaceutical and health care industry in this region.
Key Developments in the Market
- November 2017: Infor released an updated version of Infor Enterprise Asset Management.
- October 2017: IBM acquired Vivant Digital Business in Australia
- July 2017: GE Healthcare acruired clinical outcomes consulting firm Novia Strategies.
- June 2017: GE Healthcare Debuts Wireless Asset Tracking Technology.
Reasons to Purchase this Report
- Current and future healthcare asset management market outlook in the developed and emerging markets.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- The segment that is expected to dominate the market.
- Regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet in excel.
1.1 MARKET DEFINITION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. KEY INFERENCES
5. MARKET OVERVIEW
5.1 CURRENT MARKET SCENARIO
5.2 PORTER’S FIVE FORCES
5.2.1 BARGAINING POWER OF SUPPLIERS
5.2.2 BARGAINING POWER OF CONSUMERS
5.2.3 THREATS OF NEW ENTRANTS
5.2.4 THREAT OF SUBSTITUTE PRODUCT AND SERVICES
5.2.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
6. DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES ANALYSIS (DROC)
6.1 MARKET DRIVERS
6.1.1 RISING DEMAND WITH INCREASING CONCERNS OF DRUG COUNTERFEITING
6.1.2 NEED TO INCREASE EFFICIENCY IN HEALTHCARE INSTITUTIONS
6.1.3 GROWING CONCERNS FOR PATIENT SAFETY
6.2 MARKET RESTRAINTS
6.2.1 DATA PRIVACY CONCERNS
6.2.2 ACCURACY ISSUES WITH THE DEVICES
6.2.3 ORGANIZATIONAL AND INFRASTRUCTURAL FACILITY OF HEALTHCARE INSTITUTIONS AFFECTING IMPLEMENTATION
6.4 KEY CHALLENGES
7. Market Segmentation
7.1 BY TECHNOLOGY
7.1.1 REAL TIME LOCATION SYSTEMS (RTLS)
7.1.2 RADIO FREQUENCY IDENTIFICATION (RFID) SYSTEMS
22.214.171.124 ACTIVE RFID
126.96.36.199 PASSIVE RFID
7.2 BY COMPONENT
7.3 BY APPLICATION
7.3.1 STAFF MANAGEMENT
7.3.2 EQUIPMENT TRACKING
7.3.3 PATIENT TRACKING
7.3.4 SUPPLY CHAIN MANAGEMENT
7.4 BY END USERS
7.5 BY GEOGRAPHY
7.5.1 NORTH AMERICA
188.8.131.52 REST OF EUROPE
184.108.40.206 SOUTH KOREA
220.127.116.11 REST OF APAC
7.5.4 MIDDLE EAST AND AFRICA
18.104.22.168 SOUTH AFRICA
22.214.171.124 REST OF MIDDLE EAST AND AFRICA
7.5.5 SOUTH AMERICA
126.96.36.199 REST OF SOUTH AMERICA
8. COMPETITIVE LANDSCAPE
8.1 MERGERS AND ACQUISITIONS
8.2 AGREEMENTS, COLLABORATIONS AND PARTNERSHIPS
8.3 NEW PRODUCT LAUNCHES
9. KEY PLAYERS
9.1 AEROSCOUT, INC.
9.2 AWAREPOINT CORPORATION
9.3 AIRISTA FLOW
9.4 GE HEALTHCARE
9.5 IBM CORPORATION
9.6 INFOR, INC.
9.7 MOTOROLA SOLUTIONS
9.9 SIEMENS HELATHCARE
9.10 SONITOR TECHNOLOGIES
10. FUTURE OUTLOOK OF THE MARKET