Healthcare Asset Management Market to Touch USD 370.81 Billion

Data Bridge Market Research analyses that the healthcare asset management market was valued at USD 17.10 billion in 2021 and is expected to reach USD 370.81 billion by 2029, registering a CAGR of 46.9% during the forecast period of 2022 to 2029.

Healthcare asset management entails efficiently and cost-effectively managing and maintaining machinery, equipment, and physical assets. Pumps, plumbing, compressors, wheelchairs, refrigeration, generators, condensers, mobile beds, heating, ventilation, and air conditioning (HVAC), and other hospital systems are typically included. It saves time and money, increases asset utilization, locates equipment faster, keeps the right inventory on hand, and promotes employee communication.

The global healthcare asset management market is being driven by the rising acceptance of asset management solutions in pharmaceutical industry. In recent years, the pharmaceutical sector has increased its radiofrequency identification (RFID) usage. In international pharmaceutical manufacture and distribution, the technology has evolved into a systematic aspect of supply chain management.

Moreover, the development of IOT based healthcare asset management and advancement in healthcare asset management device technology will provide beneficial opportunities for the healthcare asset management market growth. Additionally, the increasing demand from emerging markets and technological advancements will further expand the healthcare asset management market's growth rate in the future.