The global real-time locating systems (RTLS) Market for Healthcare is estimated to generate revenue of USD 4.5 billion in 2027 from USD 1.5 billion in 2020, witnessing 22.5% CAGR during the forecast period 2021-2027.

The global real-time locating systems (RTLS) market for healthcare is expected to witness a CAGR of 22.5% during the forecast period. The rise in the adoption of RTLS solutions in hospitals and healthcare facilities and growing usage in emergency cases will drive the growth of the RTLS market. RTLS technologies like RFID tags demand is growing in the healthcare sector as RFID tags are used in various forms like tracking of surgical tools, tracking patients and staff. Moreover, the availability of cost-effective RTLS solutions, rising concern in the healthcare sector to improve safety, workflow, and security, and rising prominence of ultra-wideband technology-based RTLS solutions will propel the growth of the global RTLS market in the healthcare sector.

Owing to the COVID-19 pandemic, there is a need given to the importance of good hand hygienic practices globally. RTLS systems are used to find that doctors and nurses wash their hands while treating the patients, resulting in a decrease in spreading the infections.

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Based on the facility type, the global real-time locating systems (RTLS) market for healthcare is segmented into senior living facilities and hospitals and healthcare facilities. Hospitals and healthcare facilities dominate the RTLS market in terms of size during the forecast period. There is an increase in demand for RTLS solutions from hospitals in the US and European countries as it augments their operations, optimizes resource utilization, and productivity.

Geographically, North America Is anticipated to be the largest-growing region in the global RTLS solutions in the healthcare market owing to the adoption of hospitals and senior living facilities using RTLS solutions, and the growing presence of industry players in the region.

Key players operating in the Real-Time Locating System (RTLS) Market for Healthcare: STANLEY Healthcare, Teletracking Technologies, Sonitor Technologies, Zebra Technologies, HP Enterprise, Airista, and Identec Group.

Source: VynZ Research