Rtls For Healthcare Market Size
RTLS for Healthcare Market size was valued at USD 3.3 Billion in 2024 and is expected to reach USD 17.16 Billion by 2034, growing at a CAGR of 19.8%
The healthcare sector is presently going through a radical transition known as digitalization, with several recognized priorities, including strengthening asset management, improving patient care, and increasing operational efficiency. Technologies that put forward solutions to these complex problems head-on include real-time location systems. RTLS provides granular visibility in areas with sophisticated real-time asset, person, and patient tracking. This helps healthcare businesses make better decisions, streamline operations, and perform better overall. RTLS uses various technologies, including RFID, Bluetooth Low Energy, Wi-Fi, and Ultra-Wideband, to precisely find and track vital assets, such as medical supplies, equipment, and individual patient effects.
In addition to asset management, RTLS greatly improves patient care by efficiently managing patient flow, reducing wait times, and maintaining safety. The RTLS keeps track of patients' movements around the medical institution and preserves precise data about their movements, enabling ideal staffing ratios, prompt patient needs responses, and the avoidance of patient elopement. Furthermore, RTLS enables healthcare providers to track their employees' whereabouts more efficiently, resulting in quicker emergency reactions. Rising medical mistake costs, a growing need for more patient-centered care, and the complexity of healthcare operations are all factors contributing to the growth of RTLS in the healthcare industry.