RFID in Healthcare Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Radio-Frequency Identification (RFID) uses radio waves to read and capture information stored on a tag attached to an object. The tag can be read from several feet distance and it does not need to be in direct line-of-sight of the reader. RFID technology is used in patient safety, supply chain applications, and in quality assurance applications. The technology can be deployed in hospitals and clinics to improve patient flow, reduce medial errors, improve asset utilization rates, and manage inventories & implants, among others.

MARKET SCOPE

The "Global RFID in Healthcare Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the RFID in Healthcare market with detailed market segmentation by products, end user and geography. The report provides key statistics on the market status of the leading RFID in Healthcare market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on products, the global RFID in Healthcare market is segmented into Tags and Readers, pinters, software.
  
•   Based on application, the market is segmented into asset tracking systems, patient tracking systems, pharmaceutical tracking systems, and blood monitoring systems.
  
•   On the basis of end user, the market is segmented into hospitals,pharmaceutical and biotechnology companies, and other end users.
  
  

MARKET DYNAMICS

Drivers

•   Growing stringency in pharmaceutical sector with regard to medicine labelling
  
•   Increased applications of devices supporting RFID in healthcare industrty
  
•   Adoption of automated process in hospitals & pharmacies
  
•   Low-cost and high efficiency of the RFID systems
  

Restraints

•   Development of alternate labelling methods
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The RFID in Healthcare market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the RFID in Healthcare market in these regions.

IMPACT OF COVID-19 ON RFID IN HEALTHCARE MARKET

The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Integration of RFID enables effective management of inventory, prevention of stock out and overstock situations. These systems enable real-time data management, which leads to prevention of inventory loss and theft. However, the pharmaceutical companies are experiencing both medium and longer negative impacts of the pandemic, which is expected to slow down adoption of RFID in the industry. Also, delay in manufacturing activities is further negatively impacting the market growth.

MARKET PLAYERS

The report covers key developments in the RFID in Healthcare market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from RFID in Healthcare market are anticipated to lucrative growth opportunities in the future with the rising demand for RFID in Healthcare in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the RFID in Healthcare market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   3M
  
•   Hitachi, Ltd.
  
•   NewAge Industries, Inc.
  
•   AAID Security Solutions, Inc.
  
•   Motorola Mobility LLC
  
•   IBM
  
•   Siemens AG
  
•   ACC Systems Incorporated
  
•   BearingPoint
  
•   AMERICAN RFID SOLUTIONS, LLC
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

RFID in Healthcare Report Scope