Surgical Instrument Tracking Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Surgical Instrument Tracking Systems Market Revenue and it is segmented by technology (barcodes and RFID, or radio frequency identification), component (software, hardware, and services), end user (hospitals and other end users), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The Market values are Provided (in USD million) for the above segments.

Surgical Instrument Tracking Systems Market Size

Surgical Instrument Tracking Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 15.20 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Surgical Instrument Tracking Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Surgical Instrument Tracking Systems Market Analysis

The surgical instrument tracking market is poised to register a CAGR of 15.2% during the forecast period.

The COVID-19 pandemic led to a significant decrease in surgical procedures around the world and spurred numerous advisories from the respective government regarding surgical procedures, which affected the studied market. For instance, according to a study titled 'Institutional Surgical Response and Associated Volume Trends Throughout the COVID-19 Pandemic and Postvaccination Recovery Period' published in August 2022, the quaternary care facility successfully dealt with the COVID-19 pandemic's pressures by significantly reducing the number of surgical procedures performed during the peak of the pandemic. However, despite uneven recovery rates across subspecialties and case classes, total surgical procedure volumes did not fully return to pre-COVID-19 levels until well into 2021. This has led to a decrease in the adoption of surgical instruments due to the reduced number of surgeries during the pandemic. Furthermore, according to the study titled 'Trends in US Surgical Procedures and Health Care System Response to Policies Curtailing Elective Surgical Operations During the COVID-19 Pandemic' published in December 2021, the initial shutdown in March-April 2020 was linked to a drop in the number of surgical procedures. The rate of surgical procedures increased after the reopening to 2019 levels, and this pattern persisted during the peak patient burden of COVID-19 in the fall and winter. Therefore, the reduction in surgical volumes during the pandemic might have impacted the market growth due to the reduced adoption of surgical instruments in surgical rooms.

Now, factors such as increasing surgeries are expected to increase the market growth. According to the Organization for Economic Co-operation and Development updated in August 2022, the number of surgeries (in thousand) performed in some European countries such as Portugal, Denmark, Ireland, and Norway in 2021 include 94.87, 49.33, 32.84, and 21.5. Such a huge number of surgeries in developed European countries will lead to increased adoption of surgical instruments during the surgeries, driving the market growth. In addition, according to the above source, the number of surgical group specialists (surgeons) in a few European countries such as Austria, Ireland, Norway, and Switzerland in 2021 was 10,177, 2,950, 3,305, and 7,520. Such a high number of surgeons in European countries will also do good for the surgical instrument tracking market.

Furthermore, according to a International Society of Aesthetic Plastic Surgery report published in January 2022, the volume of top five surgical procedures performed worldwide in aesthetics in 2020 included Breast Augmentation (1,624,281), Liposuction (1,525,197), Eyelid Surgery (1,225,540), Rhinoplasty (852,554), and Abdominoplasty (765,248). Such a high volume of surgical procedures in aesthetics is anticipated to propel the adoption of surgical instruments, driving market growth.

However, the high cost associated with the implementation of the surgical instrument tracking systems may hamper the growth of the market.

Surgical Instrument Tracking Systems Market Trends

The Hospital Segment Expected to Witness Growth over the Forecast Period

Hospitals are sites providing medical and surgical treatment for patients, and hence there is a higher need for surgical instrument tracking. The increasing healthcare expenditure, along with investment in new hospitals with the expansion of existing ones, are expected to boost growth in the studied segment over the forecast period.

The American Hospital Association (AHA) statistics for 2022 show that the number of active hospitals in the United States increased from 5,534 in 2016 to 6,093 in 2020. Further, as per the same source, the total hospital admissions in the hospitals of the United States stood at about 33.4 million with a total hospital expense of about USD 1.2 trillion. Thus, the increase in the number of hospitals is expected to boost growth in the studied segment.

Research studies providing insight into the utilization of RFID in hospitals are another factor in market growth. According to a research report released in January 2022 titled "Measuring Intraoperative Surgical Instrument Utilization With Radio-Frequency Identification," surgical instrument excess is to blame for operating room costs, confusion, and workload. Many health systems have acknowledged the need for supply improvement because it is estimated that 78% to 87% of instruments go underutilized. Previous quality improvement projects have produced an average 52% reduction in supply by manually tracking instrument use and giving surgeons the responsibility of reviewing instrument trays. Previous approaches for identifying necessary instruments are qualitative, expensive, lack scalability and sustainability, and are subject to human error while illustrating the extent of instrument excess. A fresh data stream produced by RFID technology enables precise instrument supply optimization. Thus, such research studies are expected to increase the market growth.

Surgical Instrument Tracking Market: Estimated Number of Hospitals, By Country, 2021

North America Expected to Dominate the Market

North America is expected to dominate the market owing to factors such as the rising burden of chronic diseases and the Canadian government investing heavily to improve the healthcare infrastructure.

For instance, as per a press release published in July 2021 by the government of Canada, the governments of Canada and Quebec collaborated to invest in 209 infrastructure projects to modernize, redevelop, and upgrade the health and social services institutions in Quebec, including hospitals, and other care centers. The Federal Minister of Infrastructure and Communities, and Minister of Health and Social Services, announced a total of USD 188.3 million in funding for these 209 infrastructure projects. These investments demand the availability of advanced medical devices in hospitals. This is expected to increase market growth.

Furthermore, the data updated by Cedars-Sinai in January 2022 showed that coronary artery bypass graft surgery (CABG), also known as coronary artery bypass, or bypass surgery, was the most common heart surgery, and more than 300,000 people had successful bypass surgery in the United States each year. This elevates the need for the surgical instrument market.

Surgical Instrument Tracking Market - Growth Rate by Region

Surgical Instrument Tracking Systems Industry Overview

The surgical instrument tracking market is moderately competitive, with most of the players competing to increase their market shares. Strong competition and rapid technological advancements are key factors that confront the market. Key players in the market are Becton, Dickinson and Company, BESCO, Censis Technologies Inc., Syrma Technology, Case Medical, and Steris PLC, among others.

Surgical Instrument Tracking Systems Market Leaders

  1. Censis Technologies Inc.

  2. Syrma Technology

  3. Steris PLC

  4. Keir Surgical Ltd

  5. Case Medical

*Disclaimer: Major Players sorted in no particular order

Surgical Instrument Tracking Market Concentration
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Surgical Instrument Tracking Systems Market News

  • September 2022: HID Global acquired Vizinex RFID. The acquisition increased HID Global's presence and relevance in key vertical markets, including healthcare/medical, and added key technology to HID Global's industry-leading RFID tag portfolio.
  • April 2022: Surglogs launched a new module called Sterile Processing Records that tracks sterilization loads for healthcare facilities of all types.

Surgical Instrument Tracking Systems Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Number of Surgeries

      2. 4.2.2 Growing Incidence of Retained Surgical Instrument Cases

      3. 4.2.3 Mandatory Regulation by FDA for Unique Device Identification

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost Associated with Implementation of Surgical Instrument Tracking System

      2. 4.3.2 Lack of Skilled Professionals and Technological Advancements

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Technology

      1. 5.1.1 Barcodes

      2. 5.1.2 RFID (Radio Frequency Identification)

    2. 5.2 By Component

      1. 5.2.1 Software

      2. 5.2.2 Hardware

      3. 5.2.3 Services

    3. 5.3 By End-User

      1. 5.3.1 Hospitals

      2. 5.3.2 Other End-Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. South Korea

        6. Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. GCC

        2. South Africa

        3. Rest of Middle East and Africa

      5. 5.4.5 South America

        1. Brazil

        2. Argentina

        3. Rest of South America


    1. 6.1 Company Profiles

      1. 6.1.1 Becton, Dickinson and Company

      2. 6.1.2 BESCO

      3. 6.1.3 Case Medical

      4. 6.1.4 Censis Technologies Inc.

      5. 6.1.5 Healthtech Pivot LLP

      6. 6.1.6 Keir Surgical Ltd.

      7. 6.1.7 NuTrace

      8. 6.1.8 ScanCARE Pty Ltd.

      9. 6.1.9 Spa Track Medical Limited

      10. 6.1.10 Steris PLC

      11. 6.1.11 Syrma Technology

      12. 6.1.12 Ternio Group LLC

    2. *List Not Exhaustive

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Surgical Instrument Tracking Systems Industry Segmentation

As per the scope, surgical instrument tracking is a system that assists healthcare professionals in gaining access to surgical equipment and instruments and leads to reliable and time-saving procedures. This system helps to enhance resource and tool governance in order to decrease the need for instant steam sterilization. 

The surgical instrument tracking market is segmented by Technology (Barcodes and RFID (Radio Frequency Identification)), Component (Software, Hardware, and Services), End User (Hospitals and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across the major regions globally. The report offers the values (USD million) for the above segments.

By Technology
RFID (Radio Frequency Identification)
By Component
By End-User
Other End-Users
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle East and Africa
South Africa
Rest of Middle East and Africa
South America
Rest of South America
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Surgical Instrument Tracking Systems Market Research FAQs

The Global Surgical Instrument Tracking Market is projected to register a CAGR of 15.20% during the forecast period (2024-2029)

Censis Technologies Inc., Syrma Technology, Steris PLC, Keir Surgical Ltd and Case Medical are the major companies operating in the Global Surgical Instrument Tracking Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Global Surgical Instrument Tracking Market.

The report covers the Global Surgical Instrument Tracking Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Surgical Instrument Tracking Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Surgical Instrument Tracking Systems Industry Report

Statistics for the 2023 Surgical Instrument Tracking Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Surgical Instrument Tracking Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Surgical Instrument Tracking Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)