U.S. Surgical Instrument Tracking Systems Market Trends Analysis Report 2024-2030 with Company Profiles of 10+ Leading Players Including BD, Medtronic, B. Braun, Olympus, 3M, and Stryker

U.S. Surgical Instrument Tracking Systems Market

Dublin, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The "U.S. Surgical Instrument Tracking Systems Market Size, Share & Trends Analysis Report by Technology (Barcodes, RFID), Product (Hardware, Software, Services), End-use (Hospitals, Others), and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.The U.S. surgical instrument tracking systems market size is anticipated to reach USD 134.13 million by 2030, expanding at a CAGR of 10.8% from 2024 to 2030

The rise in the market is anticipated owing to the increased need for these systems for diagnosis, treatment, and management of chronic illnesses such as diabetes, cancer, and cardiovascular diseases & with a rise in demand for minimally invasive surgery and an increase in the elderly population; individuals are more vulnerable to intestinal, gastric, and ophthalmic diseases, among other illnesses. According to the Centers for Disease Control and Prevention (CDC), in March 2022, 75% of surgical site-related deaths were attributed to surgical site infections. All these factors propel the growth of the market.

The rapid development and adoption of advanced technologies, such as radio frequency identification (RFID), barcode scanning, and automated data management systems, have significantly improved the efficiency and accuracy of surgical instrument tracking. These factors have collectively contributed to the expansion and growth of the market.In addition, implementing the Unique Device Identification (UDI) system by the U.S. Food and Drug Administration (FDA) has significantly contributed to the leading position of the U.S. in the medical devices sector. This dominance is further strengthened by the increasing healthcare investments and the rapid growth of healthcare infrastructure in these countries. As a result, the market witnesses promising growth opportunities for its players. Surgical instrument tracking systems are crucial in automatically identifying medical devices and instruments, ensuring compliance with the FDA's new UDI tracking guidelines.U.S. Surgical Instrument Tracking Systems Market Report Highlights

Based on technology, the barcodes segment held the largest market share of over 80.8% in 2023 owing to the rising chronic disorders & volume of surgeries. On the other hand, the RFID segment is expected to grow at the fastest CAGR over the forecast period

Based on product, the hardware segment held the largest market share in 2023. This hardware encompasses RFID tags, barcode scanners, sensors, and other physical components necessary for tracking and managing surgical instruments

The growing number of surgical procedures, owing to sports injuries, accidents, and cardiac surgeries, due to the increased frequency of cardiovascular illnesses and other chronic disorders, where surgery is mandatory, is driving the market growth

In November 2020, STERIS plc acquired the Key Surgical company, which produces sterile processing supplies. The company's worldwide presence and product portfolio would be strengthened, expanded, and complemented by this acquisition. In addition, it would allow the business to give consumers better service and increase value for shareholders

Company Profiles

Vizinex (HID Global Corporation)

Fortive

BD

STERIS

Integra LifeSciences Corporation

Censis

Surglogs

Stryker

Medtronic

B. Braun SE

Olymus Corporation

Getinge

3M

Medivators Inc.

Key Attributes:

Report Attribute

Details

No. of Pages

90

Forecast Period

2023 - 2030

Estimated Market Value (USD) in 2023

$66.61 Million

Forecasted Market Value (USD) by 2030

$134.13 Million

Compound Annual Growth Rate

10.8%

Regions Covered

United States

Key Topics Covered: Chapter 1. Methodology and ScopeChapter 2. Executive Summary2.1. Market Outlook2.2. Segment Outlook2.3. Competitive InsightsChapter 3. U.S. Surgical Instrument Tracking Systems Market Variables, Trends & Scope3.1. Market Lineage Outlook3.1.1. Parent Market Outlook3.1.2. Related/ancillary Market Outlook3.2. Market Dynamics3.2.1. Market Driver Analysis3.2.2. Market Restraint Analysis3.3. U.S. Surgical Instrument Tracking Systems Market Analysis Tools3.3.1. Industry Analysis - Porter's3.3.2. PESTEL AnalysisChapter 4. U.S. Surgical Instrument Tracking Systems Market: Technology Estimates & Trend Analysis4.1. Technology Market Share, 2023 & 20304.2. Segment Dashboard4.3. U.S. Surgical Instrument Tracking Systems Market by Technology Outlook4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following4.5. Barcodes4.5.1. Market Estimates and Forecast, 2018-2030 (USD Million)4.5.2. Hospitals4.5.3. Others4.6. RFID4.6.1. Market Estimates and Forecasts, 2018-2030 (USD Million) (USD Million)4.6.2. Hospitals4.6.3. OthersChapter 5. U.S. Surgical Instrument Tracking Systems Market: Product Estimates & Trend Analysis5.1. Treatment Market Share, 2023 & 20305.2. Segment Dashboard5.3. U.S. Surgical Instrument Tracking Systems Market by Product Outlook5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following5.4.1. Hardware5.4.2. Software5.4.3. ServicesChapter 6. U.S. Surgical Instrument Tracking Systems Market: End-use Estimates & Trend Analysis6.1. End-use Market Share, 2023 & 20306.2. Segment Dashboard6.3. U.S. Surgical Instrument Tracking Systems Market by End-Use Outlook6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following6.4.1. Hospitals6.4.2. OthersChapter 7. Competitive Landscape7.1. Recent Developments & Impact Analysis, by Key Market Participants7.2. Company/Competition Categorization7.3. Vendor Landscape7.3.1. List of Key Distributors and Channel Partners7.3.2. Key Customers7.3.3. Key Company Heat Map Analysis, 20237.4. Company Profiles7.4.1. Company Overview7.4.2. Financial Performance7.4.3. Product Benchmarking7.4.4. Strategic Initiatives

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U.S. Surgical Instrument Tracking Systems Market