Market Overview:
RFID in healthcare market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The RFID in healthcare market is segmented on the basis of type, application and region. On the basis of type, the RFID in healthcare market is segmented into asset tracking tags, pharmaceutical tracking tags, patient tracking tags and blood monitoring tags. Asset tracking tags are further sub-segmented into reusable asset tracking tag and disposable asset tracking tag. Pharmaceutical Tracking Tags are further sub-segmented into active pharmaceutical ingredient (API) tracing tag and finished product tracing tag. Patient Tracking Tags are further sub-segmented into bedside patient monitoring system (BSPMS) tagging and ambulatory patient monitoring system (APMS) tagging. Blood Monitoring Tags are further sub-segmented into implantable blood glucose sensor tag and external blood glucose sensor tag .
Product Definition:
RFID stands for Radio Frequency Identification. RFID is a technology that uses radio waves to read and capture information stored on a tag attached to an object. RFID tags can be used to track and identify objects, animals, or people. In healthcare, RFID is used in a variety of ways including patient tracking, asset tracking, medication management, and specimen tracking.
The importance of RFID in healthcare lies in its ability to improve efficiency and accuracy while reducing costs. For example, hospitals can use RFID tags to track patients as they move through the hospital from one department to another. This helps ensure that patients are seen by the correct doctor and receive the appropriate tests and treatments. Hospitals can also use RFID tags to track medical equipment and supplies such as wheelchairs, stretchers beds , IV pumps , ventilators , etc.). This helps reduce wasted time looking for missing equipment or supplies and minimizes the risk of medication errors .RFIDs also help speed up laboratory processes by automatically identifying specimens as they move through testing pipelines .
Asset Tracking Tags:
Asset tracking tags (ATMs) are small, waterproof RFID devices that can be attached to any type of medical device or instrument. They are used for the automatic identification and tracking of assets such as surgical instruments, drugs, and other consumables in healthcare facilities. Asset management is an important aspect in healthcare facilities as it helps to reduce errors during surgery by providing real-time information about the location of these devices.
Pharmaceutical Tracking Tags:
Pharmaceutical tracking tags are small electronic devices that are attached to pharmaceutical products during the manufacturing process. They help in maintaining a record of product movement throughout the supply chain and also helps in tracing counterfeit drugs back to their source. These tags can be either passive or active RFID devices, depending upon the manufacturer’s choice.
The global pharmaceutical tracking tags.
Application Insights:
The application segment is segregated into asset tracking systems, pharmaceutical tracking systems, patient tracking systems and blood monitoring tags. The blood monitoring tag segment is anticipated to witness the highest growth over the forecast period owing to its ability to monitor multiple vials of blood at a time for different patients and its low cost as compared with other RFID solutions.
Asset Tracking Systems (ATS) are used in hospitals & clinics for inventory management and can help reduce costs associated with supply chain management by reducing wastage due to pilferage or theft of drugs or medical devices. ATS also helps in generating revenue by charging a transaction fee from healthcare providers who use this service. Increasing demand for minimally invasive procedures has led to an increase in surgical procedures performed within 24 hours of admission which has resulted in increased post-acute care hospitalization rates across the globe [2]. This factor along with increasing government spending on healthcare infrastructure development will drive demand for ATSs over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The presence of well-established healthcare infrastructure, high adoption rate of advanced technologies, and rising demand for efficient healthcare services are some major factors driving the regional growth. Moreover, increasing government initiatives to implement RFID systems in hospitals is also expected to drive the North American market over the forecast period.
The Asia Pacific region is anticipated to witness lucrative growth during the forecast period owing to improving healthcare infrastructure and growing awareness about RFID technology among patients and physicians.
Growth Factors:
- Increasing demand for RFID in healthcare sector from patients and providers for tracking medical assets and improving patient care.
- Growing number of hospitals and clinics adopting RFID technology to streamline their operations and improve patient safety.
- Proliferation of wearable health devices that use RFID tags for tracking patients' health data, which is expected to drive the market growth in the coming years.
- Rising demand for Radio Frequency Identification (RFID) tags with anti-collision features to track multiple objects simultaneously in healthcare settings .
Scope Of The Report
Report Attributes
Report Details
Report Title
RFID in Healthcare Market Research Report
By Type
Asset Tracking Tags, Pharmaceutical Tracking Tags, Patient Tracking Tags, Blood Monitoring Tags
By Application
Asset Tracking Systems, Pharmaceutical Tracking Systems, Patient Tracking Systems, Blood Monitoring Systems
By Companies
M, Hitachi, AdvantaPure, Aaid Security Solutions, IBM, Motorola, Siemens, BearingPoint, Alvin Systems
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
133
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global RFID in Healthcare Market Report Segments:
The global RFID in Healthcare market is segmented on the basis of:
Types
Asset Tracking Tags, Pharmaceutical Tracking Tags, Patient Tracking Tags, Blood Monitoring Tags
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Asset Tracking Systems, Pharmaceutical Tracking Systems, Patient Tracking Systems, Blood Monitoring Systems
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- M
- Hitachi
- AdvantaPure
- Aaid Security Solutions
- IBM
- Motorola
- Siemens
- BearingPoint
- Alvin Systems
Highlights of The RFID in Healthcare Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Asset Tracking Tags
- Pharmaceutical Tracking Tags
- Patient Tracking Tags
- Blood Monitoring Tags
- By Application:
- Asset Tracking Systems
- Pharmaceutical Tracking Systems
- Patient Tracking Systems
- Blood Monitoring Systems
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the RFID in Healthcare Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
RFID is a technology that uses radio waves to identify and track tags attached to objects. RFID in healthcare can be used to track items in hospitals, clinics, and other medical facilities. This information can help doctors and nurses know which patients are receiving the best care and which medications are being administered correctly. RFID also allows hospitals to keep track of inventory levels and ensure that only necessary supplies are delivered to patient rooms.
Some of the major players in the rfid in healthcare market are M, Hitachi, AdvantaPure, Aaid Security Solutions, IBM, Motorola, Siemens, BearingPoint, Alvin Systems.
The rfid in healthcare market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 RFID in Healthcare Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 RFID in Healthcare Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 RFID in Healthcare Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the RFID in Healthcare Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global RFID in Healthcare Market Size & Forecast, 2020-2028
4.5.1 RFID in Healthcare Market Size and Y-o-Y Growth
4.5.2 RFID in Healthcare Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Asset Tracking Tags
5.2.2 Pharmaceutical Tracking Tags
5.2.3 Patient Tracking Tags
5.2.4 Blood Monitoring Tags
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Asset Tracking Systems
6.2.2 Pharmaceutical Tracking Systems
6.2.3 Patient Tracking Systems
6.2.4 Blood Monitoring Systems
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global RFID in Healthcare Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 RFID in Healthcare Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Asset Tracking Tags
9.6.2 Pharmaceutical Tracking Tags
9.6.3 Patient Tracking Tags
9.6.4 Blood Monitoring Tags
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Asset Tracking Systems
9.10.2 Pharmaceutical Tracking Systems
9.10.3 Patient Tracking Systems
9.10.4 Blood Monitoring Systems
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Asset Tracking Tags
10.6.2 Pharmaceutical Tracking Tags
10.6.3 Patient Tracking Tags
10.6.4 Blood Monitoring Tags
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Asset Tracking Systems
10.10.2 Pharmaceutical Tracking Systems
10.10.3 Patient Tracking Systems
10.10.4 Blood Monitoring Systems
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Asset Tracking Tags
11.6.2 Pharmaceutical Tracking Tags
11.6.3 Patient Tracking Tags
11.6.4 Blood Monitoring Tags
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Asset Tracking Systems
11.10.2 Pharmaceutical Tracking Systems
11.10.3 Patient Tracking Systems
11.10.4 Blood Monitoring Systems
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Asset Tracking Tags
12.6.2 Pharmaceutical Tracking Tags
12.6.3 Patient Tracking Tags
12.6.4 Blood Monitoring Tags
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Asset Tracking Systems
12.10.2 Pharmaceutical Tracking Systems
12.10.3 Patient Tracking Systems
12.10.4 Blood Monitoring Systems
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Asset Tracking Tags
13.6.2 Pharmaceutical Tracking Tags
13.6.3 Patient Tracking Tags
13.6.4 Blood Monitoring Tags
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Asset Tracking Systems
13.10.2 Pharmaceutical Tracking Systems
13.10.3 Patient Tracking Systems
13.10.4 Blood Monitoring Systems
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 RFID in Healthcare Market: Competitive Dashboard
14.2 Global RFID in Healthcare Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 M
14.3.2 Hitachi
14.3.3 AdvantaPure
14.3.4 Aaid Security Solutions
14.3.5 IBM
14.3.6 Motorola
14.3.7 Siemens
14.3.8 BearingPoint
14.3.9 Alvin Systems
