Real-time locating system (RTLS) for healthcare is used to deliver instant or real-time tracking and management of medical equipment, staff and patients within all categories of patient care settings. Elevated refund on investment and wellbeing and security apprehensions in healthcare facilities are some of the primary factors driving the growth of the global RTLS market for healthcare. The market has witnessed high demand for UWB in the coming years due to high accuracy and precision, long battery life, and high capacity.

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On the basis of the offering, the RTLS market for healthcare is subdivided into hardware, software and services. Of all offerings, the hardware segment accounted the largest share in the market. However, the market share of the hardware segment is estimated to decrease in the future due to sinking ASPs of tags and readers.

On the basis of technology, the RTLS market for healthcare market is subdivided into BLE, RFID, ultrasound, Wi-Fi, infrared, UWB and others. Of all the technologies, the UWB is expected to grow at the fastest rate in the market due to high accuracy and precision, long battery life, decreasing prices, and high capacity.

On the basis of application, the market is subdivided into inventory or asset - tracking and management, access control or security, personnel or staff - locating and monitoring, environment monitoring, access control or security, supply chain management and operation automation/visibility and others.

The necessity for resource consumption and workflow optimization, usage of IoT technology in healthcare and the development of hybrid RTLS solutions are also facilitating the growth for the RTLS market for healthcare.

Apprehensions concerning data security and privacy, unacceptable outcomes and adverse feedback from RTLS end users and the high price of acquisition and maintenance are the major challenges for the growth of RTLS market for healthcare.

Globally industry players are leveraging market growth by launching new products. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players.

Geographically, North America is the largest RTLS market for healthcare due to the presence of a large number of healthcare facilities. The rapid adoption of RTLS solution in healthcare, investment in innovative technologies and mounting profitability are also up surging growth of the North American RTLS market for healthcare.

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Key players in the RTLS market for healthcare are catering to the demand by investing in technologically advanced RTLS across the globe. In March 2016, STANLEY Healthcare, signed an agreement with Premier, Inc. to offer access to STANLEY Healthcare’s AeroScout Asset Management solution. STANLEY Healthcare, Teletracking Technologies, Sonitor Technologies, Zebra Technologies, HP Enterprise, Airista, and Identec Group are the key players offering RTLS.

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