PUBLISHER: The Business Research Company | PRODUCT CODE: 1706215
PUBLISHER: The Business Research Company | PRODUCT CODE: 1706215
A real-time location system (RTLS) in healthcare is a technology designed to automatically identify and track the location of people or objects within a healthcare facility in real-time. Utilizing various wireless communication technologies, this system monitors the movements and positions of equipment, staff, and patients. Implementing RTLS in healthcare significantly enhances operational efficiency, patient care, and safety, ensuring optimal resource utilization, improved patient outcomes, and maintaining high standards of service delivery.
The main offerings of real-time location systems include hardware, software, and services. Hardware encompasses the physical components and devices used in a real-time location system, such as tags, sensors, readers, and tracking devices. The technologies involved include radio frequency identification (RFID), Wi-Fi, ultra-wideband (UWB), Bluetooth low energy (BLE), infrared, ultrasound, and others. Applications range from inventory or asset tracking and monitoring, personnel locating and monitoring, access control and security, environmental monitoring, to supply chain management and automation. These systems are deployed in various facility types, including hospitals, healthcare facilities, and senior living facilities.
The real time location system market research report is one of a series of new reports from The Business Research Company that provides real time location system market statistics, including the real time location system industry global market size, regional shares, competitors with real time location system market share, detailed real time location system market segments, market trends, and opportunities, and any further data you may need to thrive in the real time location system industry. These real time location system market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The real time location system in healthcare market size has grown exponentially in recent years. It will grow from $3.19 billion in 2024 to $3.9 billion in 2025 at a compound annual growth rate (CAGR) of 22.3%. The growth in the historic period can be attributed to increasing demand for asset tracking, growing focus on workflow optimization, the need for improved patient safety, increase in the safety and security of their patients, and governments prioritizing modernizing healthcare systems.
The real time location system in healthcare market size is expected to see exponential growth in the next few years. It will grow to $8.62 billion in 2029 at a compound annual growth rate (CAGR) of 22.0%. The growth in the forecast period can be attributed to the growing global population, rise in the number of patients, the rising demand for enhanced patient care and safety, adoption of the RTLS in healthcare, increasing healthcare spending on a global scale, and governments prioritize modernizing healthcare systems. Major trends in the forecast period include technology enables healthcare professionals to track medical equipment, investments in technologies such as RTLS, technological advancement, incorporation of Ultra-Wideband (UWB) technology, and integration of artificial intelligence and machine learning with RLTS.
The increasing number of cancer patients is expected to drive the growth of the real-time location system (RTLS) in the healthcare market going forward. Cancer patients are those diagnosed with cancer, a group of diseases marked by uncontrolled growth and spread of abnormal cells. The rise in cancer patients is attributed to factors such as an aging population, lifestyle choices, genetic predisposition, and improved access to healthcare. RTLS enhances the efficiency, coordination, and patient-centered care for cancer patients, leading to better outcomes and experiences within the healthcare system. For instance, in May 2024, the National Institutes of Health (NIH) reported an estimated 18.1 million cancer survivors, or about 5.4% of the population in 2022. This number is projected to increase by 24.4% to 22.5 million by 2032 and reach 26.0 million by 2040. Therefore, the growing number of cancer patients is driving the expansion of RTLS in the healthcare market.
Leading healthcare companies in the real-time location system market are focusing on developing AI-enabled digital technologies to improve patient tracking, enhance operational efficiency, and elevate the quality of care, which leads to better resource management and improved patient outcomes. AI-enabled digital technologies refer to systems that incorporate artificial intelligence to analyze data, automate tasks, and generate insights. For example, in November 2023, AstraZeneca, a UK-based biopharmaceutical company, introduced Evinova, a new health-tech initiative aimed at fostering innovation in the life sciences sector, particularly in clinical trials and patient health outcomes. Evinova's mission is to advance digital technology solutions already utilized by AstraZeneca globally to optimize the design and execution of clinical trials. This initiative will help reduce the time and cost of developing new medicines, bring healthcare closer to patients' homes, and ease the strain on health systems. Additionally, Evinova will explore opportunities in remote patient monitoring and digital therapeutics, with a focus on advancing digital innovations in these fields.
In July 2022, Securitas AB, a Swedish security services company, acquired Stanley Security and Healthcare for an undisclosed sum. This acquisition accelerates Securitas' shift towards technology-driven solutions and boosts its expertise and technological capabilities in key markets. Stanley Security and Healthcare, a US-based company, specializes in providing real-time location systems (RTLS) solutions for healthcare security services.
Major companies operating in the real time location system in healthcare market are Cisco Systems Inc., Oracle Corporation, GE HealthCare Technologies Inc., Securitas AB, Zebra Technologies Corporation, Aruba Networks, Impinj Inc., Midmark Corporation, TeleTracking Technologies Inc., CenTrak Healthcare Inc., Alien Technology, Enlighted Inc., Kontact.io, Savi Technology Inc., purple.ai, Identec Solutions AG, Ekahau Inc., Ubisense Group PLC, Inpixon Inc., Sonoitor Technologies Inc., Vizzia Technologies, AiRISTA Flow Inc., Tagnos Inc., Awarepoint Corporation
North America was the largest region in the real time location system in healthcare market in 2024. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the real time location system in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the real time location system in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The real-time location system in the healthcare market consists of revenues earned by entities by providing services such as emergency response management, infection control and hand hygiene compliance, and staff tracking and safety. The market value includes the value of related goods sold by the service provider or included within the service offering. The real-time location system in the healthcare market also includes sales of cabling, network equipment, readers, and receivers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Real Time Location System In Healthcare Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on real time location system in healthcare market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for real time location system in healthcare ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The real time location system in healthcare market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.