<p class="ql-align-justify">Increasing preference for robotic surgeries is a key factor driving surgical instrument tracking system market revenue growth</p><p class="ql-align-justify"><a href="https://www.emergenresearch.com/industry-report/surgical-instrument-tracking-systems-market">https://www.emergenresearch.com/industry-report/surgical-instrument-tracking-systems-market</a></p><p class="ql-align-justify">The global <a href="https://www.emergenresearch.com/industry-report/surgical-instrument-tracking-systems-market">surgical instrument tracking system market</a> size was USD 186.7 Million in 2021 and is expected to register a revenue CAGR of 12.1% during the forecast period, according to latest analysis by Emergen Research.</p><p class="ql-align-justify"><br></p>

The Surgical Instrument Tracking Systems Revolution: Understanding the Market and Its Impact

<div>Market Synopsis</div><p>The global surgical instrument tracking system market size was USD 186.7 Million in 2021 and is expected to register a revenue CAGR of 12.1% during the forecast period. Rising adoption of robotic surgeries, technological advancements in medical devices, and increasing need for federal government device identification are some of the key factors boosting market revenue growth.</p><p>Technological advancements in medical devices and increasing collaborations and partnerships across many operating in the global healthcare industry are other key factors expected to drive global market revenue growth. Additionally, increasing investments in creating more user-friendly and affordable tracking systems as well as improved healthcare infrastructure are additional factors expected to continue to boost global market revenue growth. For instance, on 25 July 2022, Arthrex, which is a global leader in minimally invasive surgical techniques, and Skytron, which is a healthcare efficiency and safety company specializing&nbsp;in capital equipment,&nbsp;announced a collaboration to provide a comprehensive range of total room solutions to address the future needs and challenges of operative care facilities. This collaboration enables the provision of the most advanced technology and operating room infrastructure in a single package, as well as a comprehensive suite of complementary products that will assist surgeons in providing better care to&nbsp;patients. Furthermore, on 28 October 2022, Neocis, which is the developer of a surgical robot that assists&nbsp;dentists during implant surgeries,&nbsp;raised USD&nbsp;40 million in a funding round led by Intuitive Ventures of California. FDA approved the company's first surgical, Yomi, which traces&nbsp;out implant methods in advance for dentists and then directs their hands during surgery to carry out the plan. As a result, patients have smaller incisions, less pain, and faster recovery.</p><p>Rising need for robotic surgeries is another factor increasing revenue growth of the global surgical instrument tracking market. According to the National Center for Biotechnology Information, it was reported that surgical robots have been used in a variety of procedures for nearly 35 years. Every year, approximately 3 million individuals&nbsp;undergo cataract surgery, resulting in a higher number of surgical procedures. Furthermore, federal government approvals for robotic surgical devices are increasing the demand for robotic surgeries. For instance, on 1 March 2021, US Food and Drug Administration approved the Hominis Surgical System, which is an innovative Robotically-Assisted Surgical Device (RASD) that&nbsp;helps facilitate transvaginal hysterectomy in certain patients. The Hominis Surgical System is designed for benign hysterectomy with salpingo-oophorectomy (removal of the uterus for non-cancerous conditions). As a result, steady trends towards adopting robotic surgeries is driving revenue growth of this market.</p><p>Product recalls by government agencies is a key factor restraining market growth. For instance, the surgical procedure packs from DeRoyal Industries include a variety of devices used for regular cardiac procedures such as heart catheterizations, pacemaker-related procedures, and x-ray heart imaging (angiogram) procedures. But on 14 May 2021, FDA recalled DeRoyal's products&nbsp;as&nbsp;they contain 1% lidocaine which has&nbsp;0.5% bupivacaine. Although lidocaine and bupivacaine are both local anesthetics, their dosing is not the same and not&nbsp;a harmful, but&nbsp;if the patient is given 1% lidocaine instead of 0.5% bupivacaine, he or she may be underdosed and suffer pain during the procedure. Furthermore, high cost of surgical instruments and surgeries is hampering market growth.</p><img width="720" height="403" src="https://www.emergenresearch.com/images/reportImages/surgical-instrument-tracking-systems-market.webp" alt="Surgical Instrument Tracking System Market"><div>Product Insights:</div><div>Hardware segment accounted for the largest revenue share in the global surgical instrument tracking system market in 2021</div><p>On the basis of product, the global surgical instrument tracking system market is segmented into hardware, software, and others. Hardware segment accounted for the largest revenue share in 2021 owing to increasing robotic surgeries. Tracking system hardware is&nbsp;broadly used in robotic surgery. Surgical robots are self-powered, computer-controlled devices that can help with the placement and manipulation of surgical tools. The surgical robot's screen is separated and linked to a laptop computer running a vision-based tracking system. Robotic surgery also referred to as robot-assisted surgery,&nbsp;allows doctors to perform a variety of complex procedures with more precision, adaptability, and control than conventional techniques. Minimally invasive surgery, which involves&nbsp;small incisions, is frequently linked to robotic surgery. As a result, increasing adoption of such robotics in surgeries in healthcare settings is driving growth of this segment.</p><p>Software segment is expected to register fastest revenue CAGR during the forecast period. This type of software, which is used in surgical instrument tracking system, is a comprehensive inventory management system that combines cutting-edge innovation, user-friendly devices, and skilled surgical inventory tracking specialists who can help user to get more information from&nbsp;the tracking system.&nbsp;Leading software developer companies are entering into partnerships with other companies to develop more advanced and innovative solutions. For instance, on 13 October 2020, Aesculap, Inc., which is a sterile processing and operating room solutions industry leader, announced a strategic partnership with Ascendco Health, a cutting-edge computer programmer pioneering new and innovative software solutions for the healthcare industry. Aesculap, Inc., powered by Ascendco Health's proprietary technology, provides an unparalleled solution for modernizing&nbsp;surgical operations by combining industry-leading expertise with innovative technology. Aesculap's Surgical Asset Management, with its proven methodology, also generated efficiencies for over 150 US hospitals through standardization&nbsp;and optimization opportunities. As a result, increasing company partnerships are driving revenue growth of this segment.</p><div>Technology Insights:</div><div>Barcodes segment accounted for the largest revenue share in the global surgical instrument tracking system market in 2021</div><p>On the basis of technology, the global surgical instrument tracking system market is segmented into Radio Frequency Identification (RFID) and barcodes. Barcodes segment accounted for the largest revenue share in 2021. 2D barcodes, such as data matrices and QR codes, are gaining popularity in the market owing to low costs, robust construction, and 360° readability features. Several leading companies are also manufacturing 2D barcodes, which are driving growth of this segment. For instance, on 27 April 2021, Code Corporation, which is a global leader in barcode scanning and data capture technologies, introduced the Code Reader 5200 (CR5200), which is a high-speed, omnidirectional reader for 1D and 2D barcode symbologies. The CR5200 improves on its predecessors in several ways and replaces the now-end-of-life (EOL) CR5020 and CR5025.</p><p>Radio Frequency Identification (RFID) segment is expected to register fastest revenue growth during the forecast period. In the healthcare sector, an essential requirement is an RFID surgical tool tracking system, which&nbsp;helps with inventory management at various points of system in order to meet each patient's needs. Patient safety is also increased by this tool management software. RFID technology eliminates the potentially fatal oversight of a device being accidentally left inside a patient's body by revealing the position of all surgical devices at any given time. Some leading companies are developing RFID technology to enhance safety and usage of such devices. For instance, on 17 February 2021, Apulsetech, which is a skilled player in the field of RFID systems, brought a unique RFID handheld to market&nbsp;and now is currently developing a mobile reader as well as a new "handy" reader.</p><img width="720" height="585" src="https://www.emergenresearch.com/images/reportImages/surgical-instrument-tracking-systems-market-growth.webp" alt="Surgical Instrument Tracking System Market share"><div>End-Use Insights:</div><div>Hospitals segment accounted for the largest revenue share in the global surgical instrument tracking system market in 2021</div><p>On the basis of end-use, the global surgical instrument tracking system market is segmented into hospitals, ambulatory surgical centers, and others. Hospitals segment accounted for the largest revenue share in 2021. &nbsp;In hospitals and medical settings, tracking disposable item shelf life and non-disposable device cleaning requires extreme precision. This improves care quality and lowers the risk of infection. Surgical instruments are etched with data logic laser marking systems, resulting in permanent barcodes that are unaffected by harsh chemicals or autoclaves. These codes are helpful for&nbsp;the sterilization procedure and in the tracking of surgical tools in the operating room.</p><p>Ambulatory Surgical Centers (ASC) segment is expected to register fastest revenue growth during the forecast period. ASC is a productive, affordable substitute for an operating room in a hospital. ASCs assist in cost reduction and lowers patient out-of-pocket expenses and are thought to be between 40% and 60% less expensive than hospital stays. An ASC is a good option for patients who do need to stay in hospital. Here the doctors have more control over their work, and can therefore provide patients with better pre-and post-operative care as they are typically more approachable. In addition, outpatient surgery centers are typically easier to reach geographically. For patients, particularly those looking to find joint replacement surgeries, as well as their families, ASC is the best option.</p><div>Regional Insights: </div><div>North America accounted for the largest revenue share than other regional markets in the global surgical instrument tracking system market in 2021</div><p>Market in North America accounted for the largest revenue share in 2021 owing to the increase in number of healthcare facilities. Most healthcare providers are becoming increasingly reliant on technology to ensure patient safety and enhance quality of care. Hospitals have transformed to automatic identification technologies such as RFID to monitor medical devices and surgical instruments with 4,000 reported cases of "retained surgery items" in the United States alone each year. RFID technology is being used to track equipment and surgical instruments at leading hospitals such as the Mayo Clinic's Saint Mary's Hospital in Minnesota and Rush University Medical Center in Chicago. Furthermore, several companies are developing and launching new products based on RFID technology. For instance, on 7 April 2022, JADAK, which is a Novanta Corporation (Novanta) business unit, declared&nbsp;the release of the ThingMagic M7e-Pico, which includes the new Impinj E310 RAIN RFID reader chip. ThingMagic Pico, which is the first in the new M7e series, is one of the market's smallest UHF RFID modules, allowing users to use the chip in absolutely tiny applications such as wearable RFID devices, handheld RFID scanners, mobile RFID printers, and surgical hand scanners. As a result, the increasing modernization of healthcare facilities and product launches are key factors boosting revenue growth of the market in this region.&nbsp;&nbsp;</p><p>The surgical instrument tracking system market in Asia-Pacific is expected to register a significant revenue growth rate over the forecast period due increasing demand for robotic surgical tools. Several companies are manufacturing these surgical devices. For instance, on 6 July 2021, Intuitive India launched India's first robotic-assisted surgical stapler named SureForm, with SmartFire technology, which is an integrated software.&nbsp;SureForm allows the surgeon to fire the screwdriver from the console while performing the RAS procedure, giving them&nbsp;complete control and autonomy over the procedure. This SmartFire, with 1,000+ measurements per second, automatically adjusts the firing process as staplers are formed and transactions&nbsp;are made to help optimize a consistent regular feature line and prevent cell damage across a range of tissue thicknesses. As a result, these product launches by leading companies are driving market revenue growth in this region.</p><p>Market in Europe is expected to register a steady revenue growth rate over the forecast period due to presence of leading medical companies, and federal government approvals. For instance, on 11 October 2021, Medtronic plc, which is the global leader in medical technology, announced that the HugoTM robotic-assisted surgery (RAS) system received CE (Conformité Européenne) Mark, allowing it to be sold in Europe. CE Mark approval is only granted for urologic and gynecologic procedures, which account for roughly half of all robotic procedures performed. Hugo RAS was created to address the historical cost and utilization barriers that have stymied robotic surgery adoption for the past two decades. This CE Mark approval appears to follow major milestones in the global launch of the Hugo RAS system, including the first urologic and gynecologic procedures.</p><img width="720" height="585" src="https://www.emergenresearch.com/images/reportImages/surgical-instrument-tracking-systems-market-analysis.webp" alt="Surgical Instrument Tracking System Market size"><div>Major Companies and Competitive Landscape </div><p>The global surgical instrument tracking system market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers &amp; acquisitions, strategic agreements &amp; contracts, developing, testing, and introducing more effective surgical instrument tracking system solutions. Some major players included in the global surgical instrument tracking system market report are:</p><UL><LI>BD</LI><LI>Xerafy Singapore Pte Ltd</LI><LI>FingerPrint Medical Limited</LI><LI>Getinge AB</LI><LI>B. Braun SE</LI><LI>Haldor Advanced Technologies</LI><LI>Microsystems, Inc.</LI><LI>Ternio Group LLC.</LI><LI>Keir Surgical</LI><LI>Paragon Group Limited</LI></UL><div>Strategic Development</div><UL><LI>On 11 May 2022, SML Group (SML), which is a global leader in digital recognition technology and solutions provider, announced the opening of its Technology Innovation Development Center (TIDC), which is a first-in-Hong Kong RFID inlay Research &amp; Development center and production hub. The new center is part of SML's long-term strategic plans to build the technology ecosystem needed to power increasingly global operations involving a growing pool of customers as they transition to a digital-first future in which every item will be labeled with a digital ID across markets.</LI><LI>On 31 August 2022, Kit Check, which is the leading Medication Intelligence automation vendor, announced that its proprietary Radio Frequency Identification technology was incorporated in the new KinetiXTM Propofol syringes being developed by Genixus, which is a healthcare company and FDA-registered repackager and 503B outsourcing servicer focused on transforming acute inpatient medicines. Propofol is one of the most widely prescribed drugs in hospitals and healthcare facilities.</LI></UL><div>Scope of Research</div><table border="1" dir="ltr">
<tbody dir="ltr">
<tr dir="ltr">
<td dir="ltr">PARAMETERS</td>
<td dir="ltr">DETAILS</td>
</tr>
<tr dir="ltr">
<td dir="ltr">The market size value in 2021</td>
<td dir="ltr">USD 186.7 Million</td>
</tr>
<tr dir="ltr">
<td dir="ltr">CAGR (2022–2030)</td>
<td dir="ltr">12.1%</td>
</tr>
<tr dir="ltr">
<td dir="ltr">The Revenue forecast in 2030</td>
<td dir="ltr">USD 523.1 Million</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Base year for estimation</td>
<td dir="ltr">2021</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Historical data</td>
<td dir="ltr">2019–2020</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Forecast period</td>
<td dir="ltr">2022–2030</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Quantitative units</td>
<td dir="ltr">Revenue in USD Million and CAGR in % from 2022 to 2030</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Report coverage</td>
<td dir="ltr">
<p dir="ltr">Revenue forecast, company ranking, competitive landscape, growth factors, and trends</p>
</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Segments covered</td>
<td dir="ltr">
<p dir="ltr">Product, Technology, End-use, Region</p>
</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Regional scope</td>
<td dir="ltr">
<p dir="ltr">North America; Europe; Asia-Pacific; Latin America; Middle East &amp; Africa</p>
</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Country scope</td>
<td dir="ltr">
<p dir="ltr">U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of MEA</p>
</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Key companies profiled</td>
<td dir="ltr">
<p dir="ltr">BD, Xerafy Singapore Pte Ltd., FingerPrint Medical Limited, Getinge AB., B. Braun SE, Haldor Advanced Technologies, Microsystems, Inc., Ternio Group LLC., Keir Surgical, Paragon Group Limited</p>
</td>
</tr>
<tr dir="ltr">
<td dir="ltr">Customization scope</td>
<td dir="ltr">
<p dir="ltr">10 hrs of free customization and expert consultation</p>
</td>
</tr>
</tbody>
</table><div>Segments Covered in Report</div><p>For the purpose of this report, Emergen Research has segmented the global surgical instrument tracking system market on the basis of product, technology, end-use, and region:</p><UL><LI><div>Product (Revenue, USD Million; 2019-2030)</div><UL><LI>Hardware</LI><LI>Software</LI><LI>Others</LI></UL></LI></UL><UL><LI><div>Technology (Revenue, USD Million; 2019-2030)</div><UL><LI>RFID</LI><LI>Barcodes</LI></UL></LI></UL><UL><LI><div>End-Use Outlook (Revenue, USD Million; 2019-2030)</div><UL><LI>Hospitals</LI><LI>Ambulatory surgical centers</LI><LI>Others</LI></UL></LI></UL><UL><LI><div>Regional Outlook (Revenue, USD Million; 2019–2030)</div><UL><LI>North America
</LI></UL></LI></UL>

Market Size – USD 186.7 Million in 2021, Market Growth – at a CAGR of 12.1%, Market Trends- Increasing need for federal government device identification

The global Surgical Instrument Tracking System market size reached USD 186.7 Million in 2021 and is expected to USD 523.1 Million in 2030 registering a CAGR of 12.1%. Surgical Instrument Tracking System market growth is primarily driven owing to technological advancements in medical devices, and increasing need for federal government device identification

<p>The global surgical instrument tracking system market size was USD 186.7 Million in 2021 and is expected to register a revenue CAGR of 12.1% during the forecast period. Rising adoption of robotic surgeries, technological advancements in medical devices, and increasing need for federal government device identification are some of the key factors boosting market revenue growth. </p>

<p>Technological advancements in medical devices and increasing collaborations and partnerships across many operating in the global healthcare industry are other key factors expected to drive global market revenue growth. Additionally, increasing investments in creating more user-friendly and affordable tracking systems as well as improved healthcare infrastructure are additional factors expected to continue to boost global market revenue growth. For instance, on 25 July 2022, Arthrex, which is a global leader in minimally invasive surgical techniques, and Skytron, which is a healthcare efficiency and safety company specializing in capital equipment, announced a collaboration to provide a comprehensive range of total room solutions to address the future needs and challenges of operative care facilities. This collaboration enables the provision of the most advanced technology and operating room infrastructure in a single package, as well as a comprehensive suite of complementary products that will assist surgeons in providing better care to patients. Furthermore, on 28 October 2022, Neocis, which is the developer of a surgical robot that assists dentists during implant surgeries, raised USD 40 million in a funding round led by Intuitive Ventures of California. FDA approved the company's first surgical, Yomi, which traces out implant methods in advance for dentists and then directs their hands during surgery to carry out the plan. As a result, patients have smaller incisions, less pain, and faster recovery. </p>

<p>Rising need for robotic surgeries is another factor increasing revenue growth of the global surgical instrument tracking market. According to the National Center for Biotechnology Information, it was reported that surgical robots have been used in a variety of procedures for nearly 35 years. Every year, approximately 3 million individuals undergo cataract surgery, resulting in a higher number of surgical procedures. Furthermore, federal government approvals for robotic surgical devices are increasing the demand for robotic surgeries. For instance, on 1 March 2021, US Food and Drug Administration approved the Hominis Surgical System, which is an innovative Robotically-Assisted Surgical Device (RASD) that helps facilitate transvaginal hysterectomy in certain patients. The Hominis Surgical System is designed for benign hysterectomy with salpingo-oophorectomy (removal of the uterus for non-cancerous conditions). As a result, steady trends towards adopting robotic surgeries is driving revenue growth of this market. </p>

<p>Product recalls by government agencies is a key factor restraining market growth. For instance, the surgical procedure packs from DeRoyal Industries include a variety of devices used for regular cardiac procedures such as heart catheterizations, pacemaker-related procedures, and x-ray heart imaging (angiogram) procedures. But on 14 May 2021, FDA recalled DeRoyal's products as they contain 1% lidocaine which has 0.5% bupivacaine. Although lidocaine and bupivacaine are both local anesthetics, their dosing is not the same and not a harmful, but if the patient is given 1% lidocaine instead of 0.5% bupivacaine, he or she may be underdosed and suffer pain during the procedure. Furthermore, high cost of surgical instruments and surgeries is hampering market growth. </p>

<p>On the basis of product, the global surgical instrument tracking system market is segmented into hardware, software, and others. Hardware segment accounted for the largest revenue share in 2021 owing to increasing robotic surgeries. Tracking system hardware is broadly used in robotic surgery. Surgical robots are self-powered, computer-controlled devices that can help with the placement and manipulation of surgical tools. The surgical robot's screen is separated and linked to a laptop computer running a vision-based tracking system. Robotic surgery also referred to as robot-assisted surgery, allows doctors to perform a variety of complex procedures with more precision, adaptability, and control than conventional techniques. Minimally invasive surgery, which involves small incisions, is frequently linked to robotic surgery. As a result, increasing adoption of such robotics in surgeries in healthcare settings is driving growth of this segment. </p>

<p>Software segment is expected to register fastest revenue CAGR during the forecast period. This type of software, which is used in surgical instrument tracking system, is a comprehensive inventory management system that combines cutting-edge innovation, user-friendly devices, and skilled surgical inventory tracking specialists who can help user to get more information from the tracking system. Leading software developer companies are entering into partnerships with other companies to develop more advanced and innovative solutions. For instance, on 13 October 2020, Aesculap, Inc., which is a sterile processing and operating room solutions industry leader, announced a strategic partnership with Ascendco Health, a cutting-edge computer programmer pioneering new and innovative software solutions for the healthcare industry. Aesculap, Inc., powered by Ascendco Health's proprietary technology, provides an unparalleled solution for modernizing surgical operations by combining industry-leading expertise with innovative technology. Aesculap's Surgical Asset Management, with its proven methodology, also generated efficiencies for over 150 US hospitals through standardization and optimization opportunities. As a result, increasing company partnerships are driving revenue growth of this segment. </p>

<p>On the basis of technology, the global surgical instrument tracking system market is segmented into Radio Frequency Identification (RFID) and barcodes. Barcodes segment accounted for the largest revenue share in 2021. 2D barcodes, such as data matrices and QR codes, are gaining popularity in the market owing to low costs, robust construction, and 360° readability features. Several leading companies are also manufacturing 2D barcodes, which are driving growth of this segment. For instance, on 27 April 2021, Code Corporation, which is a global leader in barcode scanning and data capture technologies, introduced the Code Reader 5200 (CR5200), which is a high-speed, omnidirectional reader for 1D and 2D barcode symbologies. The CR5200 improves on its predecessors in several ways and replaces the now-end-of-life (EOL) CR5020 and CR5025. </p>

<p>Radio Frequency Identification (RFID) segment is expected to register fastest revenue growth during the forecast period. In the healthcare sector, an essential requirement is an RFID surgical tool tracking system, which helps with inventory management at various points of system in order to meet each patient's needs. Patient safety is also increased by this tool management software. RFID technology eliminates the potentially fatal oversight of a device being accidentally left inside a patient's body by revealing the position of all surgical devices at any given time. Some leading companies are developing RFID technology to enhance safety and usage of such devices. For instance, on 17 February 2021, Apulsetech, which is a skilled player in the field of RFID systems, brought a unique RFID handheld to market and now is currently developing a mobile reader as well as a new "handy" reader. </p>

<p>On the basis of end-use, the global surgical instrument tracking system market is segmented into hospitals, ambulatory surgical centers, and others. Hospitals segment accounted for the largest revenue share in 2021.  In hospitals and medical settings, tracking disposable item shelf life and non-disposable device cleaning requires extreme precision. This improves care quality and lowers the risk of infection. Surgical instruments are etched with data logic laser marking systems, resulting in permanent barcodes that are unaffected by harsh chemicals or autoclaves. These codes are helpful for the sterilization procedure and in the tracking of surgical tools in the operating room. </p>

<p>Ambulatory Surgical Centers (ASC) segment is expected to register fastest revenue growth during the forecast period. ASC is a productive, affordable substitute for an operating room in a hospital. ASCs assist in cost reduction and lowers patient out-of-pocket expenses and are thought to be between 40% and 60% less expensive than hospital stays. An ASC is a good option for patients who do need to stay in hospital. Here the doctors have more control over their work, and can therefore provide patients with better pre-and post-operative care as they are typically more approachable. In addition, outpatient surgery centers are typically easier to reach geographically. For patients, particularly those looking to find joint replacement surgeries, as well as their families, ASC is the best option. </p>

<p>Market in North America accounted for the largest revenue share in 2021 owing to the increase in number of healthcare facilities. Most healthcare providers are becoming increasingly reliant on technology to ensure patient safety and enhance quality of care. Hospitals have transformed to automatic identification technologies such as RFID to monitor medical devices and surgical instruments with 4,000 reported cases of "retained surgery items" in the United States alone each year. RFID technology is being used to track equipment and surgical instruments at leading hospitals such as the Mayo Clinic's Saint Mary's Hospital in Minnesota and Rush University Medical Center in Chicago. Furthermore, several companies are developing and launching new products based on RFID technology. For instance, on 7 April 2022, JADAK, which is a Novanta Corporation (Novanta) business unit, declared the release of the ThingMagic M7e-Pico, which includes the new Impinj E310 RAIN RFID reader chip. ThingMagic Pico, which is the first in the new M7e series, is one of the market's smallest UHF RFID modules, allowing users to use the chip in absolutely tiny applications such as wearable RFID devices, handheld RFID scanners, mobile RFID printers, and surgical hand scanners. As a result, the increasing modernization of healthcare facilities and product launches are key factors boosting revenue growth of the market in this region.   </p>

<p>The surgical instrument tracking system market in Asia-Pacific is expected to register a significant revenue growth rate over the forecast period due increasing demand for robotic surgical tools. Several companies are manufacturing these surgical devices. For instance, on 6 July 2021, Intuitive India launched India's first robotic-assisted surgical stapler named SureForm, with SmartFire technology, which is an integrated software. SureForm allows the surgeon to fire the screwdriver from the console while performing the RAS procedure, giving them complete control and autonomy over the procedure. This SmartFire, with 1,000+ measurements per second, automatically adjusts the firing process as staplers are formed and transactions are made to help optimize a consistent regular feature line and prevent cell damage across a range of tissue thicknesses. As a result, these product launches by leading companies are driving market revenue growth in this region. </p>

<p>Market in Europe is expected to register a steady revenue growth rate over the forecast period due to presence of leading medical companies, and federal government approvals. For instance, on 11 October 2021, Medtronic plc, which is the global leader in medical technology, announced that the HugoTM robotic-assisted surgery (RAS) system received CE (Conformité Européenne) Mark, allowing it to be sold in Europe. CE Mark approval is only granted for urologic and gynecologic procedures, which account for roughly half of all robotic procedures performed. Hugo RAS was created to address the historical cost and utilization barriers that have stymied robotic surgery adoption for the past two decades. This CE Mark approval appears to follow major milestones in the global launch of the Hugo RAS system, including the first urologic and gynecologic procedures. </p>

<p>The global surgical instrument tracking system market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective surgical instrument tracking system solutions. Some major players included in the global surgical instrument tracking system market report are: </p>

<ul><li>BD </li><li>Xerafy Singapore Pte Ltd </li><li>FingerPrint Medical Limited </li><li>Getinge AB </li><li>B. Braun SE </li><li>Haldor Advanced Technologies </li><li>Microsystems, Inc. </li><li>Ternio Group LLC. </li><li>Keir Surgical </li><li>Paragon Group Limited </li> </ul>

<ul><li>On 11 May 2022, SML Group (SML), which is a global leader in digital recognition technology and solutions provider, announced the opening of its Technology Innovation Development Center (TIDC), which is a first-in-Hong Kong RFID inlay Research & Development center and production hub. The new center is part of SML's long-term strategic plans to build the technology ecosystem needed to power increasingly global operations involving a growing pool of customers as they transition to a digital-first future in which every item will be labeled with a digital ID across markets. </li><li>On 31 August 2022, Kit Check, which is the leading Medication Intelligence automation vendor, announced that its proprietary Radio Frequency Identification technology was incorporated in the new KinetiXTM Propofol syringes being developed by Genixus, which is a healthcare company and FDA-registered repackager and 503B outsourcing servicer focused on transforming acute inpatient medicines. Propofol is one of the most widely prescribed drugs in hospitals and healthcare facilities. </li> </ul>

<p>Revenue forecast, company ranking, competitive landscape, growth factors, and trends </p>

<p>Product, Technology, End-use, Region </p>

<p>North America; Europe; Asia-Pacific; Latin America; Middle East & Africa </p>

<p>U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of MEA </p>

<p>BD, Xerafy Singapore Pte Ltd., FingerPrint Medical Limited, Getinge AB., B. Braun SE, Haldor Advanced Technologies, Microsystems, Inc., Ternio Group LLC., Keir Surgical, Paragon Group Limited </p>

<p>10 hrs of free customization and expert consultation </p>

<p>For the purpose of this report, Emergen Research has segmented the global surgical instrument tracking system market on the basis of product, technology, end-use, and region: </p>

<ul><li><div>Product (Revenue, USD Million; 2019-2030) </div><ul><li>Hardware </li><li>Software </li><li>Others </li> </ul> </li> </ul>

<ul><li><div>Technology (Revenue, USD Million; 2019-2030) </div><ul><li>RFID </li><li>Barcodes </li> </ul> </li> </ul>

<ul><li><div>End-Use Outlook (Revenue, USD Million; 2019-2030) </div><ul><li>Hospitals </li><li>Ambulatory surgical centers </li><li>Others </li> </ul> </li> </ul>

<ul><li><div>Regional Outlook (Revenue, USD Million; 2019–2030) </div><ul><li>North America </li> </ul> </li> </ul>

Surgical Instrument Tracking System Market Size, Share | Industry Forecast by 2030

The Surgical Instrument Tracking Systems Revolution: Understanding the Market and Its Impact

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