Global RTLS in Healthcare Market Trends, Forecast Report 2025-2037
RTLS in Healthcare Market size is poised to rise by USD 20.85 billion, with a CAGR of 18.1% over the 2025-2037 period. By the year 2025, the industry size for RTLS in healthcare is projected to hit USD 3.15 billion.
Real-time location systems (RTLS) in healthcare are gaining widespread popularity due to their real-time monitoring and management. Real-time location systems use various technologies such as infrared, ultrasound, and RFID to enhance patient care and improve operational efficiency. Around 25% of healthcare facilities employ real-time location systems in the U.S. for effective patient and asset management. Hospitals and clinics widely face issues including, equipment missing, which sometimes majorly hamper their cashflows questioning inventory management. According to a survey by Research Nester, on average 20% of equipment is reported missing from inventory yearly due to misplacement or loss.
RTLS in Healthcare Sector: Growth Drivers and Challenges
Growth Drivers:
- Integration of RTLS with IoT: Working in healthcare facilities is quite stressful compared to working in other domains. For instance, according to the National Center for Biotechnology Information, healthcare workers experience stress at a rate of 70%, affecting patient care. The convergence of RTLS and IoT (the Internet of Things) in healthcare systems is anticipated to enhance data collection and analytics, leading to better decision-making, reduced workers’ stress levels, and improved patient care. IoT devices such as wearables and smart sensors continuously collect data on patient movements, vital signs, and asset utilization. This when integrated with RTLS offers a comprehensive view of workflows and resource use.
- RTLS transforming telehealth services: The increasing adoption of telehealth services is driving a high demand for effective and reliable asset management solutions, particularly through the integration of remote patient monitoring systems. The growing need for accurate location monitoring and tracking to enhance the functionality and effectiveness of telehealth solutions is also driving the adoption of RTLS. Furthermore, RTLS helps in scheduling appointments and mitigating waiting times, making telehealth a more attractive and viable option for patient care.
Challenges
- High installation cost: The implementation of RTLS requires high upfront costs, as the hardware and software components are complex and expensive. Furthermore, RTLS is integrated with existing hospital information systems (HIS), electronic health records (EHR), and other IT infrastructure. This integration requires skilled IT professionals leading to increased labor costs. Hospitals with limited budgets often fail to install such advanced technologies, limiting the overall market growth.
- Data security concerns: Real-time location systems like any other networked technology are susceptible to cyberattacks. A data breach could expose sensitive patient information, leading to significant legal and financial consequences for healthcare providers. Thus, despite their potential benefits healthcare facilities may hesitate to adopt RTLS due to security concerns.
RTLS in Healthcare Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
18% |
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Base Year Market Size (2024) |
USD 2.7 billion |
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Forecast Year Market Size (2037) |
USD 23.3 billion |
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Regional Scope |
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RTLS in Healthcare Segmentation
Component (Hardware, Software, Services)
Hardware segment is estimated to capture RTLS in healthcare market share of around 63.9% by the end of 2037 owing to its simplicity and easy integration with existing infrastructure. RTLS hardware such as RFID tags, sensors, and beacons are essential for tracking medical equipment, supplies, and patients in real-time, improving operational efficiency. According to Research Nester, the advanced RTLS hardware solutions aid hospitals gain 50% faster bed turnover times. The ongoing technological advancements are set to drive the demand for advanced RTLS hardware solutions, transforming the healthcare sector in the coming years.
End use (Senior Living Facilities, Hospitals & Healthcare Facilities)
In RTLS in healthcare market, senior living facilities segment is predicted to account for revenue share of around 45.5% by 2037 due to the high operational efficiency of RTLS. Real-time location systems mitigate the time healthcare staff spend on searching for equipment and patients. This efficiency allows caregivers to focus more on patient interaction and care. RTLS also aids senior care providers in reducing 50% of resident search and response time.
Our in-depth analysis of the RTLS in healthcare market includes the following segments:
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Component |
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Technology |
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Application |
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End use |
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Customize this ReportRTLS in Healthcare Industry - Regional Synopsis
North America Market Forecast
North America industry is likely to dominate majority revenue share of 35.6% by 2037, due to the presence of advanced healthcare infrastructure and key market players. The governments in the region highly invest in advancing their healthcare facilities to offer cutting-edge services to both patients and medical practitioners and staff, driving RTLS sales. The North America market is estimated to increase from USD 1.2 billion in 2025 to USD 8.3 billion by 2037.
The U.S. market is expected to increase at a high CAGR during the forecasted period owing to the presence of leading companies and rapid advancements in RTLS technology. The rising prevalence of chronic diseases such as cancer, cardiovascular disorders, and diabetes is driving high demand for advanced resource management solutions including RTLS in the country.
In Canada, supportive government policies and regulations, including, the Connected Care for Canadians Act is enhancing the adoption of modern healthcare facilities. In addition, the growing popularity of digital health platforms and rising prevalence of diseases are increasing the need for reliable and advanced asset management systems including RTLS.
Asia Pacific Market Statistics
Asia Pacific market is anticipated to rise at a rapid pace during the projected period owing to the increasing spending on the healthcare infrastructure, rising adoption of digital healthcare technologies, and growing emergence of technology start-ups. India, Japan, China, and South Korea are some of the most lucrative marketplaces in the region.
The healthcare sector of India is expanding at a rapid pace, and high budget allocation for infrastructure development and modern medical technologies are generating profitable opportunities for real-time location system producers. For instance, India’s union budget 2024-2025 has allocated around USD 10.70 billion to enhance accessibility and innovation in healthcare services.
Companies Dominating the RTLS in Healthcare Landscape
- Ubisense
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Impinj, Inc.
- Hewlett Packard Enterprise Development LP
- Zebra Technologies, Corporation
- Securitas Healthcare, LLC.
- Midmark Corporation
- Sonitor Technologies
- AiRISTA Flow, Inc.
- Oracle Corporation
- GE HealthCare
- CenTrack, Inc.
- TeleTracking Technologies, Inc.
- Aruba Networks
- Alien Technology
- Advantech Co., Ltd.
- Stanley Healthcare
- Savi Technology
- GE Healthcare
- Litum
- Avalue Technology Inc.
Key players in the RTLS in healthcare market are employing several strategies such as advancements in current solutions, the introduction of advanced technologies, collaborations, mergers, and regional expansion. Leading companies are collaborating with other players and healthcare providers to develop innovative solutions and expand their market reach. They are also acquiring small or new companies with advanced solutions to expand their product folio and customer base.
Some of the key players include:
In the News
- In July 2024, Litum announced the launch of a flexible subscription-based model Staff Duress. The company expects that this RTLS solution is expected to enhance operational efficiency in the healthcare segment.
- In April 2024, Aesculap, Inc. announced the launch of Aicon RTLS a real-time location service technology that aids in improving the efficiency of sterile processing departments. Aesculap revealed Aicon RTLS at the Healthcare Sterile Processing Association (HSPA) annual conference held in Las Vegas, between April 21-23.
- In February 2024, CenTrak, Inc. announced the launch of Connect, a next-gen cloud-based software platform to enhance real-time location systems. Connect is anticipated to gain widespread adoption in the healthcare sector owing to its advanced features.
Author Credits: Radhika Pawar
- Report ID: 6502
- Published Date: Jan 10, 2025
- Report Format: PDF, PPT
