(PharmaNewsWire.Com, August 03, 2017 ) According to the new market research report "RTLS Market for Healthcare by Facility Type (Hospitals and Health Facilities and Senior Living Facilities), Offering (Hardware, Software, and Services), Technology (RFID, Wi-Fi, BLE, and UWB), Application, and Geography - Global Forecast to 2022", the market is expected to grow from USD 580.1 Million in 2015 to reach USD 3,123.7 Million by 2022, at a CAGR of 23.6% between 2016 and 2022. The growth of this market can be attributed to the ability of this system to provide real-time information about the location of the people and assets. This information helps the decision makers in healthcare organizations to make faster decisions and improve processes.
Market for senior living facility likely to grow at the highest rate during the forecast period
Senior living facilities segment of the RTLS market for healthcare based on facility type is expected to witness the highest growth rate during the forecast period. The decrease in cost of RTLS-related hardware is one of the major factors that have resulted in increase in the penetration rate of RTLS in senior living facilities. Besides this, the need for a higher level of safety and comfort for residents is also leading to the increase in adoption rate of RTLS in senior living facilities.
Wi-Fi–based RTLS held the largest share of the RTLS market for healthcare in 2015
The RTLS market for healthcare based on technology is led by the Wi-Fi segment. A number of healthcare organizations already have wireless network installed; and as Wi-Fi–based RTLS utilizes the existing Wi-Fi infrastructure of an enterprise, this results in cost and time savings. This is one of the major factors driving the growth of the Wi-Fi–based RTLS market for healthcare.
North America held the largest size of the RTLS market for healthcare in 2015
North America held the largest size of the RTLS market for healthcare in 2015, followed by Europe and APAC. The U.S. accounted for the largest share of the RTLS market for healthcare in North America, followed by Canada and Mexico. The leading position of the market in this region can be attributed to the high demand for RTLS due to the presence of a large number of hospitals, health facilities, and senior living facilities in North America having RTLS adopted in their premises.
The major players operating in this market include Zebra Technologies Corporation (U.S.), STANLEY Healthcare (U.S.), TeleTracking Technologies, Inc. (U.S.), CenTrak, Inc. (U.S.), Versus Technologies, Inc. (U.S.), Awarepoint Corporation (U.S.), Sonitor Technologies, Inc. (U.S.), AiRISTA, LLC (U.S.), BeSpoon SAS. (France), and Cetani Corporation (U.S.), among others.
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