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.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/rfid-in-healthcare-market
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
Request a Sample Copy @ https://www.grandviewresearch.com/industry-analysis/rfid-in-healthcare-market/request/rs1
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.
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- Japan
- India
- Australia
- Singapore
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment