North America RTLS for Healthcare Market, Size, Segment and Growth by Forecast Period: 2019-2027

The North American Real-Time Location Systems (RTLS) market for healthcare, valued at US$ 689.83 million in 2018, is projected to reach US$ 3,090.08 million by 2027, demonstrating a compound annual growth rate (CAGR) of 18.9% over the forecast period. This significant growth is primarily fueled by the inherent benefits of RTLS systems and heightened market competitiveness driven by the emergence of numerous startups.

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A surge in new companies globally entering the production and manufacturing of RTLS systems has intensified market competition. These companies are offering innovative and customized RTLS solutions across various sectors. Notably, between 2014 and 2017, six RTLS startups emerged worldwide. Examples include Pozyx Labs (founded 2015), which provides a hardware/software ultra-wideband (UWB) RTLS solution offering sub-meter accuracy (10 cm), and the Czech Republic-based Sewio Networks Company (founded 2014), which offers RTLS hardware and software for enhanced productivity, cost-effectiveness, and safety. Proxicon Limited, a UK-based startup, was also founded in 2015.

From 2016 to 2019, various companies in the market pursued both organic and inorganic growth strategies, including product launches, acquisitions, and partnerships. Organic development, in particular, has been a key driver of company growth and market evolution. For instance, in July 2018, Zebra Technologies Corporation introduced two new healthcare barcode printing solutions designed for patient and specimen identification at the point of care.

The US RTLS for Healthcare market is anticipated to exhibit the highest growth rate during the forecast period. This growth is predominantly attributed to the advantages offered by RTLS systems and the increasing number of startups in the industry. Furthermore, the rising adoption of smartphones, tablets, and pads is expected to boost the uptake of RTLS solutions, further propelling market expansion.

North America RTLS for Healthcare Strategic Insights

Strategic insights for the North America RTLS for Healthcare provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

key company profiles

 CenTrak

 Impinj, Inc.

 Intelligent InSites

 Aruba (Hewlett Packard Enterprise Development LP)

 Midmark Corporation

 Sanitag

 Sonitor Technologies

 STANLEY Healthcare

 Teletracking Technologies, Inc.

 Zebra Technologies Corp.

North America's Real-Time Location Systems (RTLS) for Healthcare market requires a keen understanding of regional nuances. Successful strategies hinge on recognizing distinct local factors, including varied consumer demands (e.g., specific plug types or battery life preferences), diverse economic landscapes, and unique regulatory frameworks. By identifying underserved areas and adapting offerings to local needs, businesses can effectively broaden their market penetration. A well-defined market focus enables more efficient resource deployment, precise marketing efforts, and stronger competitive standing against local rivals, thereby fostering growth in targeted regions.

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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights