Pune, India -- (SBWIRE) -- 02/01/2018 -- A new report by Infinium Global Research on radio frequency identification (RFID) systems market by type (systems and tags), by end users (blood banks and hospital blood centers) and region: global industry analysis, trends, market size and forecasts to 2023, studies global as well as regional markets of RFID blood monitoring system. The global market size of RFID Blood Monitoring System was USD 142.3million in 2016 and it is projected to reach to USD 603.2 billion in 2023 growing at a CAGR of 22.9% between 2017 and 2023.

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The report identifies that the need for reducing blood transfusion errors has accelerated the growth in the RFID blood monitoring system market. The medical errors have caused to severe consequences. According to National Public Radio Inc., the medical errors is the third reason for the death of patients. Among the medical errors the blood transfusion errors is considered to be one of the critical errors which can lead to sever consequences. RFID blood monitoring systems help reduce these errors.

The report also has identified that North America led the global RFID Blood Monitoring Systemmarket, which is attributable to the strong presence of technologically advanced hospitals and innovations in healthcare technologies in the region. Asia-Pacific region is expected to grow at the highest rate over the next six years owing to rapid development in the healthcare infrastructure in India, and China.

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The report segments the global RFID Blood Monitoring System market as:

Global RFID Blood Monitoring System Market by Product Type (USD Million) 2017 – 2023

Systems
Tags

Global RFID Blood Monitoring System Market by End Users (USD Million) 2017 – 2023

Blood Banks
Hospital Blood Centres

Companies profiled in the report

Biolog-id
Mediware Information System
Honeywell
Nordic ID
TAGSY RFID
Zebra Technologies Wave Mark
Log Tag
Terso Solutions
RFID Group
Solstice Medical LLC
Stanley Innerspace
Logi Tag and Mobile Aspects Inc.
Magellan Technologies
SATO Vicinity.

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