Â The global patient Tracking Systems Market was valued at USD 36.5 billion in 2021 and is anticipated to grow at USD 55.2 billion by 2028 recording a CAGR of 8.7% during the forecast period 2022-2028.Â Patient tracking system is a key component of analyzing the patient flow and patient security solution. Patient tracking system ensures healthcare staff and security personnel to locate the patient quickly hospital wide and allows hospitals to admit more patients efficiently, after a patient is discharged the tracking tag will be removed and place in a drop box to notify housekeeping or any other healthcare staff or professionals automatically. High return on investment by adopting the patient tracking systems, rise in demand for the improved advancements in management of patient care and focus, favorable incentives by the government propels the growth of the patient tracking system market globally.Â Furthermore, enhanced productivity from the staff, ease in managing the patients, cost reduction in maintenance are the other factors that drives the growth of patient tracking systems market globally. However, huge investment on the implementation and installation of the systems, dearth of the skilled professionals, concerns regarding the patient confidentiality may hamper the growth of the market globally.
Fastest Growing Market
As a result of recent innovations in the patient monitoring device business, consumer services have been redefined. Remote patient monitoring devices are now available to a wide range of end-users thanks to the usage of Internet of Things technologies in continuous glucose monitoring, temperature monitoring, blood pressure monitoring, and pulse oximetry. Fitbits, glucose monitors, wearable heart monitors, Bluetooth-enabled scales, skin patches, shoes, belts, and maternity care trackers are examples of remote patient monitoring equipment. Non-invasive gadgets like this capture, transmit, process, and store patient data so doctors can access it when they need it. In addition, the advancement of wearable devices has expanded the remote monitoring segment of the market, resulting in its expansion. Patient monitoring devices have offered several benefits to the healthcare industry, including reduced re-admissions, self-monitoring, less unnecessary doctor visits, improved diagnosis, quicker vitals monitoring, and more. Around 4 million people will be able to monitor their health conditions remotely by 2020, according to the Information Handling Services. Because a considerable section of the world's population suffers from heart disease and undergoes various surgical treatments, cardiac monitoring devices are in high demand all over the world. "Cardiovascular diseases (CVDs) are the leading cause of death worldwide, affecting an estimated 17.9 million people every year," according to the World Health Organization.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.