Global RFID in Healthcare Market to Witness a CAGR of 22.4% During 2019-2025 - ResearchAndMarkets.com

The global RFID in healthcare market size is expected to reach USD 10.65 Billion by 2025, according to this report.

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Wednesday, June 19, 2019
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Technology, Health, Medical devices, Mobile, Wireless, Automatic identification and data capture, Radio-frequency identification, Human–computer interaction, Wireless, Privacy, Ubiquitous computing, Science and technology in the United States, Terso Solutions, Impinj, Pepperl+Fuchs, Patient safety, Computing
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Summary
Key Points: 
  • The global RFID in healthcare market size is expected to reach USD 10.65 Billion by 2025, according to this report.
  • High operational costs associated with the healthcare industry is expected to boost the adoption of RFID technology in healthcare organizations.
  • RFID tags enable the surgical staff in easy tracking of medical devices used in operation theatres, thereby improving patient safety.
  • Some of the key players operating in the RFID in healthcare market include LogiTag, CenTrak, SpaceCode, Impinj, Zebra Technologies Corporation, Biolog-id, Terso Solutions, Carinal Health, Mobile Aspects, Tagsys RFID, Pepperl+Fuchs, and metraTec GmbH.


The "RFID
in Healthcare Market Size, Share & Trends Analysis Report By Product
(Systems & Software, Tags), By Application (Blood, Patient,
Pharmaceutical, Asset Tracking), By Region, And Segment Forecasts, 2019
- 2025" report has been added to ResearchAndMarkets.com's
offering.

The global RFID in healthcare market size is expected to reach USD 10.65
Billion by 2025, according to this report. It is projected to expand at
a CAGR of 22.4% during the forecast period.

Some of the key contributors to the growth include rising focus on
reducing operational costs and streamline the workflow, demand for
efficient supply chain management, and need to improve the quality and
efficiency of care.

High operational costs associated with the healthcare industry is
expected to boost the adoption of RFID technology in healthcare
organizations. Pharmaceutical companies, medical device manufacturers,
hospitals, and various other healthcare organizations integrate this
technology to control inventory costs.

RFID technology enables these organizations in efficient inventory
management and help avoid stock out and overstock situations. RFID tags
enable the surgical staff in easy tracking of medical devices used in
operation theatres, thereby improving patient safety. Growing
requirement for reduction in operating costs is expected to drive the
increase in adoption of RFID. This technology is also used in
laboratories, blood banks, and pathology labs for efficient product
tracking and better workflow management.

The use of RFID technology enables better communication, adequate
patient monitoring, patient identification, and patient tracking. This
method aids in decreasing medication errors and increases safety. The
rising need for patient monitoring and mandates for increasing safety
are also contributing to the growth. Patient tracking across different
hospital sections using this technology helps reduce waiting times and
is thus gaining significance in hospitals.

Further key findings from the report suggest:

  • RFID tags product segment held majority of the market share in 2018
    due to rising awareness regarding the benefits of these devices.
  • Increasing use of tags for tracking various assets, patients, staff,
    pharmaceuticals, and donated blood is expected to boost the market
    during the forecast period.
  • Pharmaceutical tracking application segment held the largest market
    share in 2018, owing to rising needs to identify counterfeit drugs and
    demand for inventory management.
  • North America led the global market owing to increasing number of
    hospitals and presence of regulations on patient safety
  • Asia Pacific is anticipated to witness the fastest CAGR owing to the
    presence of a large pharmaceutical industry requiring this technology
    for process streamlining.
  • Some of the key players operating in the RFID in healthcare market
    include LogiTag, CenTrak, SpaceCode, Impinj, Zebra Technologies
    Corporation, Biolog-id, Terso Solutions, Carinal Health, Mobile
    Aspects, Tagsys RFID, Pepperl+Fuchs, and metraTec GmbH.

Key Topics Covered

Chapter 1. Methodology & Scope

Chapter 2. Executive Summary

Chapter 3. RFID in Healthcare Market Variables, Trends & Scope

Chapter 4. RFID in Healthcare Market - Competitive Analysis

Chapter 5. RFID in Healthcare Market: Product Market Estimates & Trend
Analysis

Chapter 6. RFID in Healthcare Market: Application Market Estimates &
Trend Analysis

Chapter 7. RFID in Healthcare Market: Regional Estimates, by Product, &
Application

Chapter 8. Competitive Landscape

  • Logi-Tag Systems
  • Terso Solutions
  • Cardinal Health
  • Hurst Green Plastics Ltd.
  • Tagsys (Invengo Technology Pte. Ltd.)
  • CenTrak (Halma PLC)
  • Zebra Technologies Corporation
  • Impinj Inc.
  • Sato Vicinity Pty. Ltd.
  • MetraTec GmbH
  • Palex Medical S.A.
  • BIOLOG-ID
  • Spacecode
  • Grifols
  • Pepperl+Fuchs
  • Mobile Aspects

For more information about this report visit https://www.researchandmarkets.com/r/mmbq62

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