The Healthcare RFID by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Healthcare RFID , The healthcare rfid market size has grown rapidly in recent years. It will grow from $2.95 billion in 2023 to $3.46 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to reduction of medication errors, enhanced patient experience, streamlined supply chain processes, inventory management optimization, enhanced workflow automation..
The healthcare rfid market size is expected to see rapid growth in the next few years. It will grow to $6.76 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to integration with electronic health records, expansion of rfid in laboratory settings, telehealth and remote patient monitoring, customization of rfid solutions.. Major trends in the forecast period include integration with emerging technologies, expansion of rfid in patient tracking, wearable rfid technology, real-time location systems , cloud-based rfid solutions..
The increasing stringent regulations in the pharmaceutical sector are significantly driving the growth of the healthcare RFID market. Governments and other regulatory bodies across various countries have started implementing stringent measures in the pharmaceutical sector to minimize counterfeiting problems and other medical-related issues. For example, In June 2023, the government of Germany announced the Health Data Use Act (GDNG) and a draft Digital Act (DigiG). The Health Data Use Act plans to grant industry companies access to the right to patient health data for research purposes. This will help healthcare RFID market by allowing companies to use RFID tags to track patient health data and secure the data from hackers. The data collected from RFID tags can be used for research purposes.
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The healthcare rfid market covered in this report is segmented –
1) By Product: Tags and Labels, RFID Systems
2) By End-User: Hospitals, Pharmaceuticals, Research Institutions and Laboratories, Other End Users
3) By Application: Asset Tracking, Patient Tracking, Pharmaceutical Tracking, Blood Tracking, Other Applications
Technological advancement is a key trend gaining popularity in the healthcare RFID market. Major companies operating in the healthcare RFID sector are focused on developing new technological solutions to strengthen their position. For instance, in May 2022, Avery Dennison, a US-based materials science and manufacturing company, introduced AD Medio Web DF EM4425, a dual frequency RFID inlays for medical applications such as inventory management and product authentication. AD Medio Web DF EM4425 tags have a compact form factor that can be easily converted into end-application usage and are available in paper tag delivery format.
The healthcare rfid market report table of contents includes:
Executive Summary
Healthcare RFID Market Characteristics
Healthcare RFID Market Trends And Strategies
Healthcare RFID Market - Macro Economic Scenario
Global Healthcare RFID Market Size and Growth
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Global Healthcare RFID Market Competitive Benchmarking
Global Healthcare RFID Market Competitive Dashboard
Key Mergers And Acquisitions In The Healthcare RFID Market
Healthcare RFID Market Future Outlook and Potential Analysis
Appendix
Top 5 Major Key Players Are:
Impinj Inc
Alien Technology Corporation
GAO RFID Inc
Honeywell International Inc
STANLEY Healthcare Pvt. Ltd
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Radiofrequency identification (RFID) is used for patient monitoring, efficiencies in patient care, tracking, and provider satisfaction.
RFID is a wireless system that exploits radio waves for collecting data from a tag attached to an object, for several purposes such as automatic identification, and tracking of objects.Get free sample copy @ https://www.marketresearchfuture.com/sample_request/7580The rising concerns about inventory management, awareness about patient safety, and increasing acceptance of automation in the healthcare sector are the major factors driving the growth of the global healthcare RFID market.
Additionally, aggressive strategies adopted by the top players and the introduction of new products in the market are fueling the growth of the market during the forecast period.
For instance, Alien Technology Corporation, a leader in RFID technology introduced RFID Reader with the ALR-F800-X, the product is known for its use in maintaining the workflow and efficiently handling the data.
Also, the company is trying to expand its geographical boundaries by signing distribution agreements.Market key PlayersSome of the key players in the global healthcare RFID market are Alien Technology Corporation, Applied Wireless Identifications Group, Inc., CAEN RFID S.r.l., Gao RFID, Inc., Honeywell International Inc., Impinj Inc., Invengo Information Technology Ltd. Co., Mobile Aspects, Inc., Motorola Solutions, Inc., Radianse, RF Technologies, Stanley Healthcare, and STiD RFIDSegmentationThe global healthcare RFID market has been segmented on the basis of component, application, end user, and region.On the basis of component, the market has been segmented into tags, readers, middleware, printers, and others.
The reader segment is further segmented into active reader and passive reader.The global healthcare RFID market, by application, has been segmented into equipment tracking, people identification and tracking, medical report and blood samples tracking medicine tracking, and others.On the basis of end user, the market has been classified as pharmaceutical and biotechnology companies, hospitals, research institutes, and others.Regional AnalysisThe market is likely to dominate by Americas during the forecast period owing to the increasing prevalence of cancer patients, increasing cases of drug counterfeiting, and well-established healthcare sector in the region.
