Radiofrequency Identification (RFID) Market in Healthcare to Reach US$ 2.6 Bn by 2031, TMR Report

- Several uses of RFID technologies in healthcare for tracking and management of medical equipment, biological samples, and prevent pharmaceutical counterfeiting boost the RFID market for healthcare

- Advantages of real-time monitoring of large volume of outbound pharmaceutical products from warehouses and distribution centers to improve the supply chain to stimulate adoption of RFID technologies

News provided by

Transparency Market Research

Mar 01, 2022, 08:30 ET

ALBANY, N.Y., March 1, 2022 /PRNewswire/ -- The RFID market in healthcare is projected to expand at a CAGR of 9.5% over the forecast period from 2021 to 2031. Proven advantages of radiofrequency identification (RFID) for effective patient care of patients with frequent visits to hospitals and healthcare centers, and rapid integration of advanced technology in healthcare are fueling the growth of radiofrequency identification market in healthcare.

Some key areas in where RFID technologies are used in healthcare are accurate patient care, asset management, prevention of pharmaceutical counterfeiting, patient tracking, biological sample tracking, and device and supply tracking, among others. RFID technologies are widely used for healthcare equipment, machinery, medical devices, and healthcare assistance devices, among others, in the healthcare sector. Rising applications of RFID for monitoring these machines in various areas of healthcare for effective patient care strengthen the growth of the global radiofrequency identification market in healthcare.

Get PDF Brochure for More Insights – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=413

Technological excellence of RFID and increasing practice of using integrated technologies in healthcare are increasing the adoption of RFID systems. The adoption of RFID in healthcare is for improving patient experience, managing & tracking assets, and assisting in drug inventory management.

North America is a key region in the RFID market for healthcare driven by factors such as rapid uptake of advanced technology to improve patient care, hi-tech healthcare infrastructure, and rising healthcare expenditures.

Radiofrequency Identification Market for Healthcare – Key Findings of Report

Key role of RFID technologies for tracking and managing medical equipment that are moved around healthcare facilities fuels the growth of the radio frequency identification market for healthcare. In hospitals and healthcare facilities, doctors, nurses, and administrative staff move medical equipment around the facility that needs to be tracked in the event of an emergency to serve patients.
Deployment of the RFID technology in the pharmaceutical sector for inventory management creates ample opportunities in the RFID market for healthcare. RFID tags help in accurate real-time and stock-level information of inventory for the outbound movement of pharmaceutical drugs from warehouses and distribution centers to pharmacies and consumers on a daily basis. This helps to improve inventory visibility and customer service, manage expiration dates, prevent counterfeit drugs, and increase consumer safety and accurately forecast product demand.
Pharmaceutical companies use RFID to track intermediate outcome of clinical trials. Clinical trials are one of the long and complex running processes in the healthcare area; therefore, implementing RFID makes it easy to track outcomes, compare clinical results, complete access to audit trails, and manage inventory.
RFID tags are used in the management of test samples of blood, urine, and other biological matter in clinical laboratories and diagnostic centers. Manual tracking of these samples leaves scope of errors to impact the confidentiality of diagnosis and treatment process.

Get Covid-19 Impact Analysis : https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=413

Radiofrequency Identification Market for Healthcare – Growth Drivers

Emergence of the RFID technology as a low-cost and high-benefit technology to automate and track all types of healthcare assets fuels the growth of the RFID market for healthcare
Use of RFID inventory management by pharmaceutical companies to attain greater visibility in inventory at warehouses and distribution centers, and track outbound flow to improve circulation throughout the supply chain cements the growth of the RFID market for healthcare

Request a report sample at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=413

Radiofrequency Identification Market for Healthcare – Key Players

Some of the key players operating in the RFID market for healthcare are;

Alien Technology
Avery Dennison Corporation
Honeywell International Inc.
Impinj Inc.
Motorola Solutions Inc.
Savi Technology
Applied Wireless Inc.
CAEN RFID S.R.L.
Checkpoint Systems Inc.
Invengo Information Technology Co.
NXP Semiconductors

Make an Enquiry Before Buying- https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=413

The radiofrequency identification market for healthcare is segmented as follows;

Radiofrequency Identification (RFID) Market in Healthcare Market, by Type of Tag

Active
Passive

Radiofrequency Identification (RFID) Market in Healthcare Market, by Component

ICs
Tag
Reader
Antenna
Software

Radiofrequency Identification (RFID) Market in Healthcare Market, by Region

North America

U.S.
Canada
Rest of America

Europe

U.K.
Germany
France
Rest of Europe

Asia Pacific (APAC)

China
India
Japan
South Korea
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)

GCC Countries
South Africa
Rest of Middle East & Africa

South America

Brazil
Rest of South America

Browse Latest Electronics & Semiconductors Industry Research Reports by TMR:

HF RFID Inlays Market - https://www.transparencymarketresearch.com/hf-rfid-inlays-market.html
Laser Direct Structuring (LDS) Antenna Market - https://www.transparencymarketresearch.com/laser-direct-structuring-antenna-market.html
RFID Equipment Market - https://www.transparencymarketresearch.com/rfid-equipment-market.html

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Access MarketNgage: The On Demand, Subscription based platform from Transparency Market Research

www.marketngage.com

Now avail flexible Market Research Subscription through MarketNgage, the Market Research Subscription Platform from Transparency Market Research and other iconic market research powerhouses. Go beyond just reports and access research multi-format through downloadable executive summaries, chapters, databooks, infographics, charts, interactive playbook for data visualization and full reports across all major industries, 200+ sub sectors and 1200+ niche markets, through MarketNgage.

Sign Up for a 7 day free trial!

Contact
Mr Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Follow Us: Twitter | LinkedIn
Blog: https://tmrblog.com
Website: http://www.transparencymarketresearch.com