Healthcare asset tracking to hit $22.4b as hospitals go digital

Market to adopt AI, 5G, and blockchain for healthcare efficiency.

The global healthcare asset tracking market is projected to grow from $7.8b in 2024 to $22.4b by 2033, representing a compound annual growth rate of 12.4%, according to Research Intelo.

Growth is being driven by the rising demand for real-time visibility and operational efficiency within healthcare facilities, as organisations strive to minimise asset loss, improve patient care, and streamline complex inventory management processes.

The adoption of RFID, bluetooth low energy, and real-time locating systems is transforming asset tracking through enhanced precision, while cloud analytics enable predictive maintenance and workflow automation.

Asset tracking systems eliminate guesswork in locating equipment, reduce search times and idle assets, and ensure the appropriate allocation of medical devices, enhancing productivity without proportionately increasing expenditure.

These systems also contribute directly to patient safety objectives by ensuring that critical equipment is available and functional when required, whilst supporting healthcare standards and regulatory compliance.

Moreover, these technologies integrate with existing electronic health records and hospital information systems, creating a connected health ecosystem that supports broader clinical and administrative goals.

Despite promising growth, the market faces challenges relating to cost, integration complexity, and security, necessitating careful planning, phased deployment, and collaboration with experienced technology partners.

The market is expected to embrace AI-driven predictive analytics, 5G-enabled IoT ecosystems, and blockchain solutions to unlock deeper operational insights, reduce costs, and enhance patient outcomes as healthcare systems continue to modernise in a post-pandemic environment.