Healthcare asset management includes tools and systems that help healthcare organizations streamline management of medical equipment and facility assets. This includes inventory management, preventive maintenance scheduling, andcompliance tracking of costly medical devices. Growing investments in healthcare infrastructure development worldwide has increased procurement of various medical equipment.
The global Healthcare Asset Management Market is estimated to be valued at US$ 44.16 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing investments in healthcare infrastructure development across the globe has significantly propelled the healthcare asset management market. Healthcare providers are increasingly investing in medical equipment to offer advanced care services. Furthermore, asset intensive nature of healthcare entities demands effective asset management solutions to optimize resources, comply with regulatory mandates and reduce operational costs. Healthcare asset management solutions help gain real-time visibility and location of high-value medical equipment through technologies like RFID and sensors. This aids in streamlining maintenance activities, equipment utilization tracking and eliminating losses.
Strength: The healthcare asset management market offers various solutions that help optimize asset utilization, reduce operational costs, and enhance patient care.
Weakness: High initial costs associated with the deployment and maintenance of asset management solutions.
Opportunity: Growing adoption of IoT and analytics-based technologies by healthcare providers for better asset management.
Threats: Cybersecurity threats and data privacy concerns related to networked medical equipment.
The global healthcare asset management market is expected to witness high growth over the forecast period of 2023 to 2030. The global Healthcare Asset Management Market is estimated to be valued at US$ 44.16 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030.
The North America region currently dominates the healthcare asset management market due to rapid technological advancements and the presence of major market players in the region. Asia Pacific is expected to grow at the fastest rate owing to rising healthcare expenditures and improving healthcare infrastructure in emerging countries.
Key players operating in the healthcare asset management market are Key players focus on the approval and commercialization of their drugs. They are focusing on new product innovations through heavy investments in research and development. Partnerships and contracts with healthcare providers and vendors are also a major focus area for key players.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it