The global surgical instrument tracking devices market size was US$ 351.4 million in 2021. The global surgical instrument tracking devices market is forecast to grow to US$ 761.4 million by 2030 by registering a compound annual growth rate (CAGR) of 10.9% during the forecast period from 2022 to 2030. 
Devices used to track surgical instruments can mix application software with scanning technologies. They facilitate access to time-saving resources for healthcare workers, enabling them to carry out actions quickly and effectively. The surgical tracking devices are highly helpful for organizing surgical sets, tracking instrument usage cycles, documenting the use of instruments, comprehending tool replacement, and other applications.

Factors Influencing the Market
The growing technological advancements in the medical sector aimed at adding more features to the instruments will fuel the growth of the surgical instrument tracking devices market during the forecast period. Advanced surgical instrument tracking devices can efficiently reduce the time spent in carrying out the procedure. It will also improve the accessibility and quality of inventory management, which will benefit the overall healthcare industry. 
Growing healthcare expenditure and rising awareness about the benefits of adopting advanced technologies will contribute to the growth of the surgical instrument tracking devices market during the study period. 
The growing geriatric population, combined with the increasing cases of chronic diseases, will contribute to the growth of the surgical instrument tracking devices market during the study period. On the flip side, technological limitations associated with surgical instrument tracking devices may limit the growth of the global market during the forecast period.

COVID-19 Impact Analysis
The demand for surgeries reduced dramatically, which negatively affected the surgical instrument tracking devices market. The focus of the healthcare sector shifted to the COVID-19 disease, and most of the facilities were forced to expand facilities for COVID-19-affected patients. As a result, it impeded the demand for surgical instrument tracking devices.

Regional Analysis
Based on the region, the Asia-Pacific surgical instrument tracking devices market is forecast to hold dominance in the global market. The growth of this regional market is attributed to the rising per capita income and growing advancement in surgical procedures. Apart from that, the fact that China and India together hold 36.0% of the total world population is expected to bring lucrative growth opportunities for the surgical instrument tracking devices market during the study period.

Competitors in the Market
• Becton, Dickinson, and Company
• B. Braun Melsungen AG
• ASANUS Medizintechnik GmbH
• FingerPrint Medical Limited
• Steris plc.
• Stanley Black & Decker
• Fortive Corporation
• Getinge AB
• Murata Manufacturing Co., Ltd
• Integra LifeSciences Holdings Corporation
• Haldor Advanced Technologies
• Other Prominent Players

Market Segmentation
The global surgical instrument tracking devices market segmentation focuses on Technology, Product, End-Users, and Region. 
By Technology Type Outlook 
• RFID
• Barcode
By Product Type Outlook 
• Hardware
• Software
• Services
By End-Users Outlook 
• Hospitals
• Ambulatory Surgical Centers (ASCs)
• Others
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America