The global healthcare RFID market is estimated to be over US$ 3.5 billion in 2019. It is anticipated to grow at a CAGR of 22.0% from 2019 to 2030.
New York, NY -- (SBWIRE) -- 03/16/2020 -- In healthcare industry RFID technology can be used in supply chain application, quality assurance application and for patient safety. These RFID technology can be deployed in hospitals and clinics to improve patient flow, reduce medial errors, improve asset utilization rates, mange inventories & implants, and among others. Many hospitals, Pharmacies and clinic adopted RFID technology to improve patient safety. Hospitals use RFID technology for patient tracking provide wrist bands to the patients with their complete information. These bands hold information about their medical history, treatment regimen, and details of the ailment. RFID readers and software enables surgeons to understand background of patients and provide a suitable treatment.
The prominent players in the global healthcare RFID market are Alien Technology, LLC., GAO Group, Honeywell International Inc., Impinj, Inc., Mobile Aspects, Inc., STiD RFID, Radianse, RF Technologies, Inc., STANLEY Healthcare, Solstice Medical, LLC.
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Scope of Report:
The significant growth of the market can be attributed to factors such as growing adoption of automated process in hospitals and pharmacies. High efficacy of the RFID systems for inventory management in hospitals and to improved patient safety are anticipated to boost the growth of the healthcare RFID market over the forecast period. Extensive research and development by major companies or universities across the globe to introduce healthcare RFID technology with maximum safety and precision is expected to contribute to the market expansion. In 2019, The Kingdom of Saudi Arabia, adopted RFID technology vaccination cards for Saudi children to improve vaccination process and avoid the delays and mistakes committed during vaccination.
RFID technology is also used in blood banks, laboratories, and pharmaceutical companies for better workflow management. These system enable organizations manage stock, prevent stock out, overstock situations and also enable real-time data management to prevent inventory loss & theft. Moreover, increasing demand for these systems among medical device manufacturers, pharmaceutical companies, biopharmaceutical companies, hospitals, and other life sciences companies to control inventory costs, is expected to propel the growth of healthcare RFID market.
The global RFID in healthcare market is segmented on the basis of product type and end user.
The Global RFID in healthcare market by Product Type
- Asset Tracking Systems
- Blood Monitoring Systems
- Patient Tracking Systems
- Pharmaceutical Tracking Systems
The Global RFID in healthcare market by End User
- Research Institutes and Laboratories
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Key Objectives of Report:
1. Comprehensive analysis of the global as well as regional markets of the Healthcare RFID Market .
2. Complete coverage of all the segments in the Healthcare RFID Market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global Healthcare RFID Market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Table of Contents
2. Market Definition
3. Market Classification
4. Geographic Scope
5. Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecasted Years – 2019 to 2030
6. Currency Used
2. RESEARCH METHODOLOGY
1. Research Framework
2. Data Collection Technique
3. Data Sources
4. Market Estimation Methodology
5. Data Validation and Triangulation
3. ABSTRACT OF THE STUDY
4. MARKET DYNAMICS ASSESMENT
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