Medical Specimen Tracking System Industry Overview

The medical specimen tracking system market size was valued at USD 739.07 million in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 10.3% from 2022 to 2030.

Favorable government regulations coupled with the rising adoption of specimen tracking systems for reducing errors in patient diagnosis are some of the key drivers of this market. According to Leica BioSystems, around 98,000 people die every year in U.S. hospitals clinics owing to misdiagnosis. Furthermore, untapped opportunities in various emerging countries are anticipated to provide opportunities for market players to invest in the market. During the COVID-19 pandemic, the adoption of these systems increased owing to quicker as well as correct diagnosis of the samples.

Gather more insights about the market drivers, restrains and growth of the Global Medical Specimen Tracking System Market

Furthermore, their use was also increased to reduce the misdiagnosis of the disease and to avoid the false positive COVID-19 results. Also, globally, laboratories were challenged by the sudden surge in the sample test numbers, as they had to reliably track the suspected COVID-19 patient swabs to 2D-coded tubes and then to racks of 96 tubes. This also increased the product demand, thereby positively influencing the market growth during the pandemic. Various medical errors are caused due to sampling mislabeling, which leads to patient misdiagnosis. According to Leica Biosystems Nussloch GmbH, about 4 out of every 1,000 surgical specimens lead to patient identification errors.

Also, 2 out of every 1,000 medical reports do not reach the correct patient and 1 out of every 1,000 such cases are affected due to mislabeling. Such medical errors result in the growing demand for medical specimen tracking systems, thereby fueling the market growth. The arrival of specimens on time is very important because delays can lead to a variety of challenges, which jeopardizes customer satisfaction. Not using these systems might result in the delivery of specimens to the wrong lab. Using these systems results in speeding up the productivity of labs. Furthermore, benefits, such as reduction in missing or losing specimens, cost-effectiveness, reduction in turnaround time leading to increased revenue, and improved quality of care, are also some of the factors boosting the market growth.

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Key Companies Profile

Some of the key players in the global medical specimen tracking system market include:

• RMS Omega Technologies
• Vision ID
• GAO RFID Inc.
• TrakCel
• Quick International Courier
• Cryoport Systems, LLC
• LabConnect
• Taylor Data Systems, Inc.
• BioIT Solutions
• Brooks Automation, Inc.

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