Global Surgical Instrument Tracking Systems Market is projected to reach $400 million by 2026 and is growing at a healthy growth rate of 15% in the coming 5 years
Surgical instrument tracking systems is a combination of latest scanning technology and application software for inventory management. It provides a solution which allows users to maintain Quality, Compliance and Traceability of Instruments in work place. Starting in 2014, different classes of medical devices are included in UDI program to provide more accurate tracking of medical devices. Moreover, EU acted to adopt UDI in 2017, under the EU MDR. Advancements in Software/Hardware Usage Drives the Market Growth Software is a crucial part of surgical instrument tracking systems due to adoption of latest information technology systems and inventory management systems in the hospitals. However, hardware segment is expected to witness the highest growth during the forecast period due to the repetitive purchase of non-durable RFID tags/barcode labels that needs replacement. Shift towards RFID Technology over Traditional Barcode Methods Currently hospitals are using barcode method due to its...