Real Time Location Systems in Healthcare Market: Rise in Wifi RTLS Adoption to Boost Growth Till 2021 | IndustryARC

RTLS

Real Time Location Systems, also known as an RTLS system, come in handy when trying to identify or locate an object or person in real time. This location of the target is usually inside a certain specified area or a building. Wifi RTLS are usually tacked onto an object or held by a person. In this manner, wireless signals are received to confirm or detect the location of the target.

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Scope & Regional Forecast

The Real Time Location Systems in Healthcare Market deals with the manufacture and distribution of a real time location system which is specialized or modified for the healthcare industry. RTLS healthcare systems have played a major role in improving the safety and care for patients. RTLS healthcare has also dramatically improved the efficiency and working of various medical and healthcare facilities. Such advancements in RTLS solutions has encouraged more facilities to adopt products from the Real Time Location Systems in Healthcare Market.

The RTLS in Healthcare Market plays a crucial role in asset monitoring such as staff, patients or equipment in a particular sequence in the form of pictures as well as video. RTLS solutions records and stores data which can be analyzed later. Depending on the analysis, various RTLS healthcare operations can then be modified or tweaked for optimum efficiency as well as a smooth workflow.

Geographically, the Real Time Location Systems in Healthcare Market was dominated by North America in 2015. This is due to government policies which reimbursed facilities or users using RTLS systems. Europe followed it closely behind.

Segmentation & Key Players

The Real Time Location Systems in Healthcare Market can be segmented into its various applications such as tracking of assets or asset monitoring, tracking and monitoring patients, safety of staff, optimization of workflow, monitoring of temperature as well as humidity, tracking of inventory and monitoring the environment as well as its reporting.

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According to IndustryARC findings, the revenue generated by the Real Time Location Systems in Healthcare Market stood at $717.8 Million in 2015. Projections show that the Real Time Location Systems in Healthcare Market is set to show 19.2% CAGR till at least 2021.

Such a high growth rate in the RTLS in Healthcare Market is largely down to the greater adoption rates among healthcare facilities for elderly people as well as medical institutions in general. The successful launch of advanced products with improved features is also expected to play a role to maintain the growth in the Real Time Location Systems in Healthcare Market.

Some of the key players involved in the Real Time Location Systems in Healthcare Market according to IndustryARC findings are as follows:

  • Siemens Healthcare
  • GE Healthcare
  • Mojix
  • Sonitor Technologies
  • Sanitag
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