LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global medical facility environmental monitoring system market predicts a CAGR of over 5% during the period 2018-2022.
The report segments the global medical facility environmental monitoring system market by end-user (hospitals, pharmacies, and medical storage centers) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global medical facility environmental monitoring system market, according to Technavio industrial automation researchers:
- Higher efficiency than manual monitoring: a major market driver
- Growing adoption of cloud-based analytics: emerging market trend
- In 2017, the Americas dominated the global medical facility environmental monitoring system market with a share of more than 37%
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Higher efficiency than manual monitoring: a major market driver
One of the major factors driving the global medical facility environmental monitoring system market is its higher efficiency compared with manual monitoring. Medical facilities such as hospitals, blood banks, and pharmacies must constantly monitor temperature and humidity. The manual monitoring of temperature and humidity is a time-consuming task as it lacks real-time data trackers. Almost all the medical facilities must abide by strict regulations and are required to provide temperature readings during the process of storing or transporting medicine during regulatory audits. The regulatory auditing and reporting process is tedious as staff must sort through heaps of paperwork to find the data captured. But, the ability of medical facility environmental monitoring systems to capture and analyze real-time data has aided to overcome the difficulties involved in the complicated manual process.
According to a senior analyst at Technavio for research on automation, “The automation of temperature and humidity monitoring not only provides better leverage in handling high-value items but also exposes any malfunction in refrigerators used for medicine storage. The simplification of temperature and humidity monitoring over the manual monitoring process has increased the adoption of medical facility environmental monitoring systems.”
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Growing adoption of cloud-based analytics: emerging market trend
The deployment of cloud-based analytics to analyze the data captured for monitoring medical environments will decrease the need for managing a data warehouse. The cloud-based analytics facilitate access and confirm the availability of data at any location by using mobile devices. The environment monitoring system vendors are trying to improve the user experience by simplifying the data visuals, making the dashboard interactive, and providing information regarding the performance of air handling systems. Real-time data availability can be used exhaustively and can also provide wide visibility of environmental monitoring data across the organization that will encourage the staff to study the data and find deeper insights into long-term improvements.
Global market opportunities
In 2017, the Americas dominated the global medical facility environmental monitoring system market with a share of more than 37%. It was followed by EMEA and APAC. The US was the largest revenue contributor to the market in this region. The advances in wireless technology and increasing product losses because of improper environment management are the major factors driving the growth of the medical facility environmental monitoring systems market in the Americas.
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