RTLS for Healthcare Market

The healthcare RTLS market was valued at US$ 2.68 billion in 2024 and is anticipated to grow to US$ 8.15 billion by 2031, with a projected CAGR of 16.2% from 2025 to 2031.

Market Insights and Analyst Perspective:Real-time location services (RTLS) in the healthcare sector are utilized for the real-time tracking and management of personnel, medical equipment, and patients across various healthcare settings. Facilities such as hospitals, senior living communities, ambulatory care centers, and diagnostic labs are implementing RTLS to monitor medical assets, patients, healthcare staff, and documentation. For example, senior living facilities employ tags and badges linked through RTLS to monitor elderly individuals, particularly those with Alzheimer's disease or memory impairments. The growing recognition of RTLS benefits for staff management and the significant return on investment due to lower capital costs are driving the expansion of the RTLS healthcare market.

Growth Factors and Challenges:The RTLS healthcare market is being propelled by a shortage of healthcare professionals and an increase in RTLS adoption. There is a notable global deficit in healthcare workers. The 2020 State of the World's Nursing (SOWN) report from the World Health Organization (WHO) indicated a global nursing workforce of 27.9 million, with a projected shortfall of 5.9 million nurses by 2030. Additionally, the Association of American Medical Colleges (AAMC) forecasts a shortage of approximately 120,000 physicians in the US by 2030, which will affect patient care nationwide. An article from Siemens highlighted that nurses spend around 72 minutes per shift searching for equipment, with average equipment utilization rates below 40%, and an estimated 10% of assets lost or stolen in facilities lacking RTLS. Given the staffing shortages, the time spent searching for equipment is an unnecessary burden for nurses. Consequently, healthcare facilities are increasingly adopting RTLS systems to streamline the location of necessary equipment and personnel. Thus, the shortage of healthcare professionals is driving the adoption of RTLS technology to enhance workflow management in these facilities.

The implementation of RTLS technology for effective connectivity in home healthcare is expected to introduce new trends in the RTLS healthcare market in the upcoming years.

Strategic InsightsReport Segmentation and Scope:The analysis of the RTLS healthcare market has been conducted by examining various segments: offering, technology, application, facility type, and geography. The market is segmented by offering hardware, software, and services. The hardware segment is further divided into readers/trackers/access points, tags/badges, and other hardware. The services segment includes consulting, deployment and integration, and support and maintenance. By application, the market is categorized into inventory/asset tracking & management, personnel locating & monitoring, supply chain management & automation, and others.

In terms of technology, the market is divided into Wi-Fi, RFID, and others. By facility type, it is segmented into hospitals and healthcare facilities, and senior living facilities. Geographically, the RTLS healthcare market is primarily segmented into North America (including the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:The RTLS healthcare market is segmented by offering into hardware, and software & services. Hardware is further divided into readers/trackers/access points, tags/badges, and other hardware. In 2024, the software & services segment accounted for the largest market share and is expected to exhibit the highest CAGR from 2025 to 2031. The growth of the software & services segment is driven by new software product launches aimed at enhancing the efficiency of RTLS systems. For instance, in June 2021, Midmark RTLS introduced a cloud-based, Bluetooth Low Energy (BLE) asset tracking solution that modernizes asset tracking capabilities.

By application, the market is categorized into inventory/asset tracking & management, personnel locating & monitoring, supply chain management & automation, and others. In 2024, the inventory/asset tracking & management segment held the largest share of the RTLS healthcare market. The personnel locating & monitoring segment is projected to achieve the highest CAGR during 2025-2031.

In terms of technology, the RTLS healthcare market is segmented into Wi-Fi, Radio-Frequency Identification (RFID), and others. In 2022, the RFID segment held the largest market share and is expected to record the highest CAGR from 2025 to 2031.

By facility type, the market is divided into hospitals and healthcare facilities, and senior living facilities. In 2024, the hospitals and clinics segment held a larger share of the RTLS healthcare market and is expected to show a higher CAGR from 2025 to 2031.

Regional Analysis:The RTLS healthcare market report focuses on North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The Asia Pacific region is expected to exhibit the highest CAGR in the market from 2025 to 2031. North America accounted for the largest share of the global market in 2024, driven by the increasing number of technologically advanced hospitals, the rising use of RTLS in senior living facilities and home care, and the presence of key market players engaged in product development. North America is the leading contributor to the growth of the RTLS healthcare market, with the US holding the largest market share in 2022.

Industry Developments and Future Opportunities:The forecast for the RTLS healthcare market is based on various secondary and primary research findings, including key company publications, association data, and databases. Some initiatives by key players in the RTLS healthcare market include:

In April 2022, Cognosos launched a new medical equipment software suite called Proactive Periodic Automated Replenishment (ProPAR). ProPAR is a digital version of RTLS dashboards and solutions that assist central supply and biomedical engineering teams by providing immediate visibility into asset counts and PAR level thresholds in healthcare facilities. ProPAR utilizes Cognosos' indoor RTLS location engine solution, LocationAI, which offers room-level visibility of equipment locations, eliminating the need for searching for equipment for cleaning, maintenance, and ensuring consistent PAR levels.

In July 2020, Advantech introduced its RTLS solution-ready package (SRP) designed for the real-time locating and monitoring of medical equipment, staff, and patients. Advantech's RTLS SRP is a comprehensive hardware-software solution that includes location sensors, edge servers, tags, medical-grade tablets, dashboards, and RTLS management software. The integration of Advantech's multi-mode sensing dynamic fusion (MSDF) technology with RTLS SRP minimizes interference from obstacles and enhances positioning performance in complex indoor environments.RTLS for Healthcare Market Report ScopeCompetitive Landscape and Key Companies:CenTrak Inc, Advantech, Securitas Healthcare LLC, Zebra Technologies, Aruba Networks, GE Healthcare, Ubisense, TeleTracking Technologies, Siemens Healthcare Pvt Ltd, and HID Global Corporation are among the key players profiled in the RTLS healthcare market report. Additionally, several other companies have been analyzed to provide a comprehensive view of the market and its ecosystem. These companies are focusing on geographic expansion and new product launches to meet the increasing consumer demand globally and to broaden their specialty product portfolios. Their global presence enables them to serve a large customer base, thereby facilitating market growth.