Transparency Market Research has announced the addition of the "Radiofrequency Identification (RFID) Market in Healthcare (Tags, Readers, Middleware, Printers and Cabinets) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" report to their offering.
Albany, NY -- (SBWIRE) -- 09/03/2014 -- According a market report published by Transparency Market Research, the worldwide market for radio frequency identification in healthcare industry is estimated to grow at a compound annual growth rate of 29.6% from 2012 to 2018.
Radio frequency identification is a wireless technology that involves the use of tiny ‘tag’ devices which radiate radio signals. RFID systems are used by government bodies and commercial organizations to track the location and use of products, people and vehicles. In the healthcare sector, RFID is used for numerous applications ranging from providing detailed patient identification to tracking and matching blood for transfusion.
To browse through the ToC or purchase the market report on radio frequency identification in healthcare industry, please visit: http://www.transparencymarketresearch.com/rfid-in-healthcare.html
The report “Radio Frequency Identification (RFID) In Healthcare Industry - Global Market Size, Share, Growth, Analysis and Forecast 2012 – 2018” shows that the overall RFID technology market in healthcare is dominated by the tags segment in terms of revenue generation. It accounts for 63.6% of the total revenue and is expected to reach an estimated USD 2,044.5 million by 2018. Among all the applications of RFID, people identification and localization is the most popular segment and is forecasted to grow at a CAGR of 23.5% during the aforementioned period. The main reason for this is strict government regulations to control terrorist activities by monitoring the inflow and outflow of frequent visitors of a country.
TMR, a U.S.-based market intelligence firm, has identified certain factors in its report that have furthered the use of RFID in healthcare and pharmaceuticals sectors. These include improved functional efficiency of RFID, use of RFID to curb drug counterfeiting, ability of RFID to improve reliability in drug approval, and favorable government initiatives and regulations. However, lack of standardization and proper pricing are limiting the growth of the market for radio frequency identification in healthcare industry.
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The report provides exhaustive analysis of the RFID market in healthcare industry by studying the various segments of market:
Tags (Active and passive)
Readers (Hybrid, active and passive)
Geography (North America, Europe, Asia-Pacific, and Rest of the World)
Application (People identification and localization, tracking medication from pharmacy to patient, tracking medical hospital equipment and blood transfer monitoring)
The TMR report mentions some of the top players in the industry and discusses their growth strategies such as product innovations and launch, and past mergers and joint ventures that have enabled the companies to not only survive in the competitive environment but also carve a niche for themselves in the market. Some of the global industry leaders are Alien Technology, Hewlett-Packard, Motorola, 3M, Blue Vector, International Business Machines (IBM), PositiveID, SupplyScape, Solstice Medical, Tagsys Inc., and Zebra Technologies.
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