Rfid in Healthcare Market Size, Share, Industry Growth, Trend, Business Opportunities, Challenges, Drivers and Restraint Research Report by 2027

RFID in Healthcare Market

According to a new report by Emergen Research, the global RFID in Healthcare Market is expected to reach USD 12.89 billion by 2027. Growing emphasis on reducing operating costs and streamlining the process, demand for effective supply chain management, and improving care quality and performance are some of the market’s growth drivers. The high operating costs associated with the healthcare sector are expected to accelerate RFID adoption in healthcare organisations. Pharmaceutical companies, medical instrument suppliers, hospitals, and a variety of other healthcare organisations use this technology to track inventory costs.

RFID (Radio-Frequency Identification) is a wireless identification technology that uses radiofrequency waves. RFID technology is finding a lucrative end-use market in the healthcare and pharmaceutical industries. Patient tracking, call up records, waste management, asset/document/record tracking, medicine disposals, and real-time location systems are all examples of RFID applications in the healthcare and pharmaceutical industries. RFID chips and readers installed in hospitals monitor temperature, blood products, drugs, and even other clinical trials on a regular basis. RFID technology is also being used more frequently in the pharmaceutical industry to prevent counterfeiting of various prescription drugs, with added supply chain and operational benefits.

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Some Key Highlights from the Report

Increased use of tags for monitoring various properties, patients, staff, drug products, and supported blood is expected to drive the market during the forecast period. In 2019, the segment had a market share of 62.2%.

The pharmaceutical monitoring application segment is the leader in RFID technology adoption due to the growing need to identify counterfeit drug products and the demand for inventory management. During the forecast period, the segment is expected to grow at a CAGR of 15.1%.

North America has dominated the global market due to the increasing number of hospitals and the presence of patient safety laws. Because the United States is the region’s largest market, this technology is becoming more popular in healthcare. The regional expansion is being driven by a high awareness of the benefits of incorporating RFID, as well as growing concern about the risk of medication errors.

Logi-Tag Systems, Cardinal Health, LLC, Terso Solutions, Hurst Green Plastics Ltd, CenTrak, Tagsys, Zebra Technologies Corporation, Impinj, Inc., MetraTec GmbH, and Palex Medical SA are among the key participants.

For the purpose of this report, Emergen Research has segmented into the global RFID in Healthcare Market on the basis of product, application, and region:

Product Outlook (Revenue: USD Billion; 2017-2027)

  • Systems & Software
  • Tags

Application Outlook (Revenue: USD Billion; 2017-2027)

  • Asset Tracking
  • Patient Tracking
  • Pharmaceutical Tracking
  • Blood Tracking
  • Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    1. US.
    2. Canada
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/rfid-in-healthcare-market

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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