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RFID in Healthcare Market Demand, Competitive Analysis, Growth Factors, And Key Players 2019-2025 | Grand View Research, Inc.

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RFID in Healthcare Market Demand, Competitive Analysis, Growth Factors, And Key Players 2019-2025 | Grand View Research, Inc.

September 10
06:10 2021
RFID in Healthcare Market Demand, Competitive Analysis, Growth Factors, And Key Players 2019-2025 | Grand View Research, Inc.
“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, the market growth can be attributed to key factors such as a rising requirement for reducing operating costs, adoption of Radio-frequency Identification (RFID) in healthcare, and mandates for increasing patient safety.

The global rfid in healthcare market size is expected to reach USD 10.65 Billion by 2025, according to a new report by Grand View Research, Inc. 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.

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/rfid-in-healthcare-market

RFID in Healthcare Market Report Highlights

• 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

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/rfid-in-healthcare-market/request/rs1

RFID in Healthcare Market Segmentation

Grand View Research has segmented the global RFID in healthcare market on the basis of product, application, and region:

RFID in Healthcare Product Outlook (Revenue, USD Million, 2014 – 2025)

    • Systems & Software                              

    • Tags

RFID in Healthcare Application Outlook (Revenue, USD Million, 2014 – 2025)    

    • Asset Tracking

    • Patient Tracking

    • Pharmaceutical Tracking

    • Blood Tracking

    • Others

RFID in Healthcare Regional Outlook (Revenue, USD Million, 2014 – 2025)

     • North America       

        • U.S.

        • Canada

     • Europe

        • Germany

        • U.K.

        • Spain

        • Italy

        • France

        • Russia

     • Asia Pacific

        • China

        • India

        • Japan

        • Singapore

        • Australia

        • South Korea

     • Latin America

        • Brazil

        • Mexico

        • Argentina

     • Middle East & Africa

        • UAE

        • Saudi Arabia

        • South Africa     

Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/2666/ibb

Browse More Related Report:

Radio Frequency Identification Technology Market Size, Share & Trends Analysis Report By Product (RFID Tags, RFID Readers, and Middleware), By Frequency, By Application, By Region, And Segment Forecasts, 2018 – 2025

About Grand View Research

Grand View Research is a market research and consulting company based in the State of California with headquarters in San Francisco. The company offers consulting services tailored for business organizations to assist them with understanding and exploring their potential on a large scale. At the same time, Grand View Research caters to the individual research needs to provide a customized research service.

Grand View Research is fully committed to offer the best research services in the Industry. Our dedicated team of experienced analysts offer full capability and potential to precisely understand your research needs.

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Company Name: Grand View Research, Inc.
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City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/rfid-in-healthcare-market